Advances in Economics, Management and Political Sciences

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Volume Info.

  • Title

    Proceedings of the 2nd International Conference on Business and Policy Studies

    Conference Date






    978-1-915371-71-3 (Print)

    978-1-915371-72-0 (Online)

    Published Date



    Canh Thien Dang, King's College London

    Javier Cifuentes-Faura, University of Murcia


  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230767

    Trade Relations in the European Gas Market Before and after the Russo-Ukrainian War: From a Game Theory Perspective

    Europe is increasingly dependent on Russian natural gas imports. As Ukraine is the main transit country for gas trade between the two sides, the military conflict between Russia and Ukraine, which started in 2014 and has not stopped yet, has led to Europe's gas trade with Russia receiving an impact. Due to the importance of natural gas and the fact that this war was the largest in Europe since World War II, the trade relations between the European and Russian natural gas markets before and after the Russo-Ukrainian war and the diversification of natural gas in Europe have been studied by many scholars. This paper uses a review to summarize and sort out the relevant literature based on game theory to study the gas market trade relations in Europe before and after the Russo-Ukrainian War. According to these scholars, the trade relations between Russia and Europe in the gas market will continue to cooperate despite the impact of the Russo-Ukrainian war. The interruption of gas exports to Ukraine and the construction of pipelines bypassing Ukraine are acceptable to Russia and Europe. Iran, Azerbaijan, Turkmenistan, and Iraq, along with the United States, should actively invest in expanding their gas export capacity to have the opportunity to serve as an alternative to Russian gas and make Europe less dependent on Russian gas imports. This paper provides an understanding of the implications of the Russian-Ukrainian conflict for the world in terms of gas trade. This paper provides a reference for related studies, and to understand the impact of the Russian-Ukrainian conflict on the world from the perspective of the gas trade.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230768

    Analysis of the Advantages and Disadvantages of People Wearing Masks in COVID-19 Pandemic: A Game-theoretic Approach

    In recent years, a global health shock, Covid-19, has exerted a huge negative impact. Exhibited a high rate of infection and mortality, this pandemic caused tremendous losses in various fields. After studying how virus spread, people find that wearing masks can effectively reduce the probability of infection. However, there are still number of people struggling whether to wear masks or not. In the current paper, based on the probability of infection we construct two matrix models, one for standard players and one for players who have been recovered form Covid-19, to analysis the expected payoff of to being a mask wearer or non-mask wearer. Comparing the expected payoff as number of people increasing in the model, we find a critical point that people are indifferent of wearing masks and not wearing masks and name it as indifferent ratio. According to the results of the model and corresponding analysis, governments are suggested to enforce policies such as wearing masks in public and enable certain social distance. For people who have been recovered from Covid-19, they can choose not to masks in places where few people around them.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230771

    Advertising in Companies

    Nowadays, thanks to the economic development, there are many commodities in the society appeared, so the competitions among different companies become more and more drastic. This essay illustrates the advertising in companies to let people know how they work. In order to make it more specific, we use case analysis and data analysis through the whole article. The result is companies really need to make efforts on making their advertisings more attractive and more profitable. In conclusion, governments also need to regulate the developments of advertisings to maximize the roles. This article has a good reduction effect for all who want to improve the quality of advertising.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230773

    To What Extent Does Game Theory Influence Profit Maximisation in Organisations

    Incentives of employees are a crucial factor for profit maximisation in organisations since they directly affect the productivity of products to be sold into the market. In order to maintain a positive working status, organisations must think of efficient methods such as reward systems, to enhance the relationship between all workers. This paper will investigate the importance of an efficient organisational working group, and the application of different reward systems to maintain high-level incentives through an analysis of game theory models. The prisoner’s dilemma game and the boxed pig game will be introduced to analyse the advantages and disadvantages of reward systems, as well as the elimination of the free-rider phenomenon.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230774

    Determinants of Effective Financial Risk Management in Malaysian companies

    This study was intended to create a theoretical framework of factors affecting the efficien-cy of financial risk management, including leadership, culture and communication. Litera-ture searches were conducted utilizing library databases and an analysis was made of pre-vious studies related to these topics. Foreign exposure is the major risk faced by infor-mation technology companies. The main reason for this is the substantial part of their in-come comes from foreign countries in foreign currencies. It is important to know here if Malaysian I.T. companies are suffering from loss due to foreign exchange movements, what measures they are taking to minimize risk, how much serious impact is suffered on its profitability. Also reviewed were models published by other authors in this field which were found most helpful in identifying how financial risk management can assist Root-square Technologies, the most rapidly growing, innovative I.T. Services & Enterprise I.T. company operated in Malaysia.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230776

    Discussion and Suggestions on Future Growth of OPPO

    The mobile phone market is always changing. In recent years, fashionable and cheap mobile phones like OPPO have become consumers' preferences, and their market share is also expanding. This research will make predictions about the development of OPPO in the next five to ten years. To make the forecasts reliable and convincing, the SWOT model and data from "Counterpoint" and "The Economic Times" are used. Generally, the international mobile phone market is slowly recovering, but the shortage of hardware components for Chinese brands, such as OPPO and VIVO, and the crisis between Ukraine and Russia made the expected fast recovery fail. For OPPO, its expansion is restricted by China's policy of COVID-19 and it faces serious shortages on making some core hardware components, hence in the future 5 years, OPPO is not expected to occupy much market share. However, in a future decade, it is hard to say. Although the influence of China's COVID policy restriction and the Ukrainian War is expected to disappear, the key restriction for OPPO is the limitation on components. OPPO should develop some core components independently to reduce the impact of the external supply market on the company's expansion. In addition, OPPO pays more attention to offline sales, and its sales have been greatly affected during the COVID-19 period. In the future, OPPO can expand online and other channels and can flexibly switch if similar emergencies happen in the future.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230779

    MOUTAI Stock Price Prediction Based on ARIMA Model

    Autoregressive Integrated Moving Average (ARIMA) models are effectively utilized in time series analysis and forecasts. With the focus on MOUTAI, one of the brands in liquor industry that has absorbed great public interest and wide acceptance, this paper studies the pattern of the closing price of MOUTAI stock, fits the data using ARIMA model, and eventually forecasts over the future horizon. Based on daily closing price of the specific stock, a few transformations of the data are carried out, making the fitting process of ARIMA model more accurate. The best-fit ARIMA model is studied and the forecast re-sults are analyzed. According to the increasing trend throughout the interval studied and the unforeseen peak at the beginning of 2021, the causation is discussed: the consumer trend. That is, people are inclined to consume more liquor products during mood swings, which is likely to happen during lock downs and the deteriorated epidemic worldwide. This study provides more insights to the potential investors and buyers of MOUTAI stock and products, and furthermore the liquor industry, giving an overview of the patterns shown in the stock’s closing price and the causation of the forecast results.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230785

    Analysis on the Problems and Countermeasures of Accounts Receivable Management in Shanghai Weiming Food Company

    Enterprises in China's food manufacturing industry are mainly small and medium-sized enterprises, which are in a weak market position. With the continuous integration of dis-tributors and the tight capital chain, the proportion of procurement credit will increase, and the problem of accounts receivable will become more and more prominent. Aiming at this problem, this paper adopts literature method and case analysis method to study and discuss the existing problems of accounts receivable management of Shanghai Weiming Food Company. Paper first introduces the research background and significance, this pa-per expounds the concept and basic theory of accounts receivable management, wei Ming food company accounts receivable management present situation of Shanghai, and analyz-es the Shanghai wei Ming food company accounts receivable management problems, such as not to set up independent credit management department, business process controls and the absence of regulation, deficiency in the collection and appraisal way, Market credit mechanism is not perfect. In view of these existing problems, the paper puts forward the corresponding improvement measures, one is to set up a credit management group; Sec-ond, establish a sound credit management system; Third, standardize sales process man-agement; Fourth, establish and improve collection and assessment methods.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230786

    Research on the Deconstruction of Distress Dimensions and the Construction of Relief Strategies for Urban Poverty in China

    Since China’s reform and growth, the continuous development of the social economy and the constant improvement of people’s living standards have been the mainstream of society’s development. However, with the foundation and improvement of China’s market economy and the ongoing promotion of China’s urbanization process, the number of impoverished people among urban residents is increasing, and the gap between the rich and the poor is widening. This paper uses Literature research, data collection and analysis, and MPI to explore the dimensional deconstruction of urban poverty and find that the existence and widening of the income gap is the main cause of structural poverty in the country. Also, the employment dimension has the greatest impact on multidimensional urban poverty. The employment dimension has the greatest impact, followed by the education dimension. These problems can be solved by strengthening income adjustment measures to narrow the income gap, ensuring labor force employment, and improving the social security system. The paper can better help solve the problem of urban poverty and reduce the number of urban low-income families.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230790

    Constructing the Evolution of International Factors on War Model with a Comparative Political Perspective—Taking the War in Ukraine as an Example

    In terms of the state of Europe, Michael E. O’Hanlon believes that even if the war in Ukraine ends soon, the events so far have changed the security environment in Europe. The tripwire strategy NATO has used in the Baltic states and Poland since about 2017 must now be replaced by a permanent forward defense posture of modest size and scope. Starting with two external factors, aid and sanctions, this paper uses a comparative political science approach to construct a military and economic model of the Russo-Ukrainian war by September 2022. This paper finds that Ukraine is constrained by its strength and weapons in the face of advanced operational command concepts and cannot effectively stop Russia. This ideological difference has led to a failure to achieve a balanced model of war, while at the same time, we note that all sides are also managing the risk of war escalation. The lack of planning for economic sanctions against Russia and the vacillating attitudes of the West, including the US, make the course of the war and subsequent reconstruction far from certain.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230791

    Research on the Impact of the UK’s Exit from the EU on the Country’s Economy and Coping Strategies

    Comparing GDP per capita, unemployment rates, exchange rates, and other economic data from before the UK left the EU and after it left the EU, this paper will use this study to examine the impact that was leaving the EU had on the economy after the UK left the EU. The authors of this study investigate the spending and revenue of the British government in the years immediately following Brexit. By analyzing the data provided and developing appropriate responses, the objective is to understand the effects of Brexit and to increase our understanding of how to react to the economic shock resulting from it. Comparative. Analysis A comparative analysis is the process of comparing two or more things in order to determine the degree to which they share similarities or diverge from one another. This paper will examine the effects that the United Kingdom’s decision to leave the European Union (EU) will have on the economy, as well as the potential solutions, by comparing the levels of imports and exports, unemployment rates, exchange rates, and other economic data both before and after the UK leaves the EU.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230792

    Research on the Impact of Eurozone Monetary Policy on EU Economic Growth

    The Greek government-debt crisis is a representative topic that shows the inflexibility of the monetary policy of the ECB and how it can harm the Greek economy in considering different economic conditions. The inflexibility of monetary policy shows the disadvantages of a one-fits-all solution carried out by the ECB in EU 27 and EU15. This study aims to analyze the impact of eurozone monetary policy on its member states and to what extent the inflexibility of monetary policy can be detrimental to a state’s economic growth and price stability. The empirical test and case study are carried out for further analysis, and the results indicate the important role of inflexible monetary policy in the case of the Greek government-debt crisis and its further impact on the steady economic growth of Germany. The ECB’s monetary policy is revealed to be volatile and uncertain, which brought undesirable economic growth outcomes for the Eurozone. However, considering the complexity of integrated monetary union and the previous case of Greece, exiting the Eurozone is not the best solution to recover economic growth.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230794

    The Impact of Outdoor Sports Industry of COVID-19 in Changsha on Supply and Demand

    The outdoor sports industry plays an essential leading role in developing the sports industry. Based on the essential characteristics and current development status of the outdoor sports industry in Changsha, the impact of COVID-19 on the demand and supply of the outdoor sports industry was studied. It is concluded that the demand side of the outdoor sports industry is affected by weather factors, high risks, competitive products generated by the progress of new technologies, epidemic prevention policies and related policies supporting outdoor sports development, and the transformation of people's pursuit of nature. On the supply side, it is mainly affected by the workforce shortage and innovative talents, limited site development, inadequate material supply, weakened entrepreneurial enthusiasm, and government policy support for entrepreneurship and small and medium-sized enterprises. In the face of hazards and opportunities, we should focus on improving the management and service level of outdoor sports enterprises, giving play to the function and role of sports social organizations, scientifically deploying major outdoor sports activities and event preparation, and enterprises to carry out self-rescue, and strengthening the long-term tracking research on the development of outdoor sports enterprises after the epidemic.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230795

    Analysis of the Impact of Russia-Ukraine Conflict on World Crude Oil and Gold Price

    The problem studied in this thesis is based on the volatility of the world economy as well as commodity prices exacerbated by geopolitical risks in the global economy due to the Russian-Ukrainian conflict. In the context of NATO's eastward expansion, tensions between Russia and Ukraine have been increasing, and an armed conflict broke out in February 2022. Russia and Ukraine are closely linked to the world economy, and their relations with a number of countries have been strained by the conflict, which has significantly changed the situation in the world and in some regions. Based on these international events and facts, this paper uses literature reading and analysis to discuss and explain the reasons for the changes in crude oil and gold prices and their impact on the international economy, especially on some European countries that import crude oil from Russia. It can be concluded that the Russian-Ukrainian conflict has multiple factors affecting the world price of crude oil, but the end result has led to its rise, which in turn has led to a rise in the price of gold as well.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230796

    The Impact of Two-pillar Policies on Real Estate Prices in China

    Since the turn of the 20th century, China's real estate industry has been expanding, playing an increasingly vital role in fostering the growth of the national economy. On the one hand, rising housing costs can stimulate the growth of linked companies. Nonetheless, it also causes a number of social issues. Through theoretical research, this study examines the impact of two-pillar policies (monetary policy and macroprudential regulations) on real estate values in China. The analysis reveals that quantitative monetary policy influences real estate prices via credit scale, whereas price-based monetary policy influences real estate prices via loan interest rate. However, there is a tension in monetary policy between "boosting the economy" and "stabilizing property prices". When monetary policies govern housing prices, macroprudential policies, particularly LTV instruments, can avert systemic problems and compensate for the spillover effects on the real economy. Consequently, it is imperative to establish and enhance the regulatory framework for two-pillar policies.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230797

    Universal Basic Income: The Foreseeable Future of Social Welfare Systems in the Post-Pandemic Era

    The unconditional and regular payment of a certain amount of cash income to the entire population is a claim to universal basic income and a system that is distinct from the existing social welfare systems. Policy experiments on universal basic income have been going on since the end of the 20th century and have been seen by some scholars as a solution to major social problems such as technological development, economic downturn, and poverty. Especially under the impact of the 2020 pandemic, the world's development is once again hampered, and how to better solve the problems of low-income people is an important issue to be addressed by the social welfare system. It is worth noting that the policies introduced by governments under the pandemic have some degree of universal basic income characteristics. This article will analyze the merits and importance of universal basic income in the context of the welfare policies introduced by governments under the pandemic. Considering the economic difficulties in the post-pandemic era, it is worthwhile for countries to explore universal basic income as a basis for new social welfare systems, despite the potential difficulties in implementation.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230798

    The Impact of Fed Monetary Policy on the Chinese Economy

    In order to cope with persistently high inflation since the COVID-19 pandemic, the Federal Reserve has adopted a continuous monetary tightening policy, raising the federal benchmark interest rate three times in a row. Meanwhile, as the United States is a big importer, its monetary policy is bound to affect many countries. Therefore, this article will from the interest rate, import, and export, etc., to analyze the influence on China; the final purpose is how to make it clear that the federal reserve's monetary policy impact China to take appropriate measures to avoid some adverse effect, give full play to the government regulation function, before the crisis timely regulation and economical price, can avoid significant economic losses.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230800

    Understanding Tourism Resilience amid COVID-19 in China from An Agency Perspective – The Case of Hainan

    The COVID-19 pandemic is one of the most influential challenges of the 21st century. It has led to a great concern about the security of human mobility. Unlike other crises or disasters in the past, COVID-19 has generated profound social and economic impacts. The tourism industry, in particular, whose development and prosperity are strongly contingent on human mobility, has been significantly hit by the COVID-19 shock. It is thus particularly important to take a closer look at the resilience of tourism. This study takes the case of Hainan –a well-known tourism region– to analyze how tourism economies respond and cope with the COVID-19 crisis. In China, it is well documented that strong top-down government measures and intervention policies are crucial and irreplaceable, which can timely enable the resilience of the whole tourism industry during the pandemic. Besides the presence of multi-scalar strong government agencies, this paper, therefore, takes a step further to scrutinize how other actors (e.g tourism firms) work with state actors to respond and adapt to COVID-19. This study could be useful or serves as a reference for further researchers to explore the regional economic resilience issue under COVID-19 in China and also in other developing economies. It will also offer possible directions for future research agendas in the area.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230801

    Forecasting NFTI Index Model: An Univariate Multivariable Regression Approach

    This paper proposed a forecasting model of the NFT index (NFTI) in the following year through repeating simulations applied to the univariate multivariable regression model. Beginning by choosing suitable predictors for the regression model which might affect NFTI through the best subset regression method, the team creates the multivariate regression model consisting of four dependent variables which are the log return of BTC, BTC/NFTI, NFTI spread, and NFTI volume/spread with respect to the independent variable log return of NFTI. Application of the regression model to the simulations based on the historical data generates 1000 pairs of data of log return of NFTI and log return of BTC as well as the corresponding predicted price of NFTI and BTC which are moderately correlated. Results are summarized in the cross-tabulation to quantitatively analyze the relationship between two variables which provides information for the investors about how they should formulate their own investment strategy. The results suggest that NFTI outperforms BTC unless NFTI crashes. Therefore, investment strategies can be made depending on the trend of BTC in the following year.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/14/20230803

    Marketing in Times of Crises

    Changes in the environment affect enterprises in different industries. The Covid-19 crisis has been a challenge for companies in recent years, and this article is based on it. This work analyzes Chinese companies in four different industries: LaoXiangji, Freshippo, Xibei, and Shanghai Mandarin Oriental Hotel; they all survived in times of crisis. Based on the analysis and further discussion of the four companies' responses and strategies in the face of COVID-19, enterprises may need to establish strategic alliances, meet the psychological needs of consumers, pricing strategies, and develop new business models. A hostile macro environment can lead to large numbers of companies going into debt and closing down. Therefore, leaders need to make decisions quickly and correctly. Although the suggestions are suitable for most industries, companies must consider the environment and industry characteristics to make unique decisions with competitive advantages to improve competitiveness and reduce the impact of the crisis.

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