Proceedings of the 3rd International Conference on Business and Policy Studies
Arman Eshraghi, Cardiff Business School
Racism in the United States has a long history, and over time, it has evolved in new ways. Despite the efforts of successive American governments to address racism, the results have been minimal. This paper analyzes, from the perspective of systemic racism theory, why the social policies implemented by the Biden administration to improve domestic race relations cannot fully resolve the issue of racism and why racism is deeply entrenched in the American democratic system. In reality, the groups that hold national power represent only a minority of the population, excluding lower-class white individuals and ethnic minorities. Racism is merely a form of “psychological wage” created by the elites to compensate for the economic losses experienced by lower-class white individuals. While the Biden administration has pursued policies to promote racial equality, without altering the framework of American democracy, these policies are unable to eradicate racism and may instead exacerbate the problem, setting the stage for future outbreaks of racial movements.
China’s NFT digital collectibles are a new type of digital asset with Chinese characteristics based on policies, technologies, platforms, and consumer demands. The transaction process involves a large amount of intellectual property rights and interests transfer content. Based on reading and sorting out archives and the intellectual property law, this paper draws the “binary structure” characteristics of digital collectibles, with a view to making more accurate judgments on the legal attributes of digital collectibles, to maximize the legal protection regarding different intellectual property rights of authors and buyers under different links and contract provisions of digital collectible transactions. At the same time, it aims to contribute to the regulatory compliance and judicial practice of the NFT commerce, promote the development of the digital economy, stimulate the digital collectible market, enhance cultural identity, etc., and eventually providing reference for relevant research on digital collectibles.
With the continuous progress of technology and economic development, high-frequency trading has become one of the most important trading methods in the securities market of various countries. This paper mainly analyzes the trading strategy and regulatory system of foreign high-frequency trading, and obtains some enlightenment from it. In terms of trading strategy, domestic high-frequency traders should strengthen technology research and development, improve the level of algorithms; Enhance data analysis capabilities to build a reliable data foundation; Strengthen computer hardware to provide a solid guarantee. In terms of the supervision system, China should set up independent supervisory bodies, strengthen transaction data supervision, limit high-frequency trading, enhance market transparency, and active make the application of regulatory technologies.
According to the basic characteristics of a socialist modernization state in China, China’s modernization aims for a harmonious coexistence between humans and nature. China strives to achieve carbon peaking by 2030. Therefore, this article mainly focuses on the connection between the electric vehicle industry chain and the Chinese-style modernization, as well as an empirical analysis of China’s 2030 carbon peaking goal. This article divides China’s “green modernization” measurement into two parts. In the first part, China’s green modernization can be measured by the level of modernization in each province. The article uses PCA (Principal Component Analysis) to reduce data dimensions and analyze correlations among selected indicators. Then, the Six-factor TOPSIS-Entropy Method is utilized for weight evaluation to calculate the level of modernization in different provinces, resulting in an overall domestic modernization level of 65.741%. In the second part, an empirical analysis of China’s commitment to achieving carbon peaking by 2030 is conducted. An improved SIRD-NM dynamic model is employed to predict the number of new energy vehicles, and then the feasibility of achieving the commitment is studied. The results indicate that the contribution of the development of new energy vehicles to carbon peaking reaches 5.42%. China has a high feasibility of achieving carbon peaking by 2030.
This study explores the impact of company financial indicators on the environmental, social and governance (ESG) scores of listed companies in China using a fixed-effects panel regression model. I found that company’s total assets and number of employees are significantly and positively related to ESG scores, and that there may be a nonlinear relationship between the number of employees and ESG scores. In addition, current ratio has no significant effect in terms of ESG score. Debt-to-asset ratio was significantly negatively related to ESG score, while ROE and operating profit margin were significantly positively related to ESG score. The results suggest that different financial indicators may have different roles in predicting CSR fulfillment. Future research could delve into industry and regional differences, as well as other factors that influence the relationship between financial indicators and ESG scores.
ESG (Environmental, Social, and Governance) assessment is a widely recognized system for evaluating corporate sustainable development by international investors. The emphasis and improvement of ESG indices can have multiple effects on corporate operations and development. This paper focuses on the impact of ESG on corporate bond financing interest rates, considering the relevant relationships and intermediary mechanisms involved. The results indicate that, with controlled variables considered, corporate bonds with higher ESG scores tend to have lower issuance interest rates. Furthermore, besides the direct impact on bond rates, ESG scores also generate indirect effects through the intermediary variable of “financing constraints.” The study establishes from a corporate financing perspective that the development of ESG assessment has positive implications for corporate operations and confirms the intermediary role of financing constraints in this causal chain. According to the results, targeted recommendations are proposed for corporate operations: to reduce financing costs, continually optimize ESG and financing constraints.
The artificial intelligence business has a wide potential as a young industry that continues to influence human social and economic growth. The development of efficient finance techniques has emerged as a crucial challenge for artificial intelligence businesses as they look to expand their markets and implement their plans. In order to sort out and analyze the strategic influencing factors on the development of artificial intelligence in China, particularly the status quo and issues of enterprise financing, this paper uses ECOVACS Robotics as a research sample. Financing is the primary source of funds necessary for the survival and development of enterprises. The demand for financing capital from businesses will rise as the worldwide market for service robotics continues to grow rapidly. According to the report, ECOVACS should adopt a targeted approach by bolstering technological advancement, boosting visibility, boosting legal support, boosting funding sources, and directing the targeted strategy in various ways.
The ongoing progress of contemporary society and the growing global recognition of women have led to heightened scrutiny of the influence of female labour force in social production. The rate of female labour force participation holds significant implications for both the advancement of the global economy and the long-term sustainability of society. In this study, a dataset comprising 146 nations spanning the years 1990 to 2020 was utilised. Employing regression techniques, the 146 countries were categorised into six continents to investigate the impact of GDP per capita and fertility rate on the female labour force participation rate. The findings of the research indicate that the relationship between the female labour force participation rate and GDP per capita and fertility rate is non-linear, assuming that only these two factors are taken into account. Given the observed trend of a gradual increase in female labour force participation rates in various regions in recent years, alongside a corresponding decrease in fertility rates globally, it is imperative for relevant authorities to expedite the enhancement of policies pertaining to female reproduction. Furthermore, it is crucial to legally ensure employment opportunities for women.
The paper conducts an empirical analysis using the CoVaR model and data sourced from weekly individual stock returns of listed Chinese commercial banks to examine the impact of individual commercial banks on the entire financial system. Overall, the stock price risk of Chinese commercial banks exhibits a negative spillover effect on the financial market. Based on dCoVaR values from 2006 to 2023 and in conjunction with financial events related to the market over the 17-year period, it is evident that significant events lead to notable negative spillover effects by commercial banks’ stock price risk on the entire financial system, highlighting their crucial influence on financial market risk.
This paper focuses on exploring the development and investment directions of China’s private equity funds against the backdrop of Sino-U.S. decoupling. This includes U.S. dollar-denominated private equity funds, Renminbi-denominated private equity funds, and corporate venture capital. The study reveals that the enthusiasm for U.S. dollar-denominated private equity funds in the domestic market has significantly decreased, while the market size of Renminbi-denominated private equity funds has grown. Private equity fund investments have shifted towards advanced manufacturing and domestically developed alternative enterprises. Corporate venture capital has also transitioned from being primarily dominated by internet giants to focusing on high tech industry leaders. In light of adapting to the new landscape of Sino-U.S. decoupling, investments in high-tech industries and advanced manufacturing, support for domestic alternatives, and independent innovation are expected to become the market’s primary trends. Government guidance and support will wield a profound influence on market development, with Renminbi-denominated private equity funds poised to capture larger market shares and investment opportunities.
For classical economists, money is a colorless general equivalent. However, according to Zelizer, money is not colorless and has social meaning. According to this point of view, this paper mainly discusses the monetary policy of the Communist Party of China in the base areas of the Anti-Japanese War from 1937 to 1945. By using literature analysis, this article attempts to answer two questions: How did CPC give money social meaning, and how did this social meaning affect the use of money? The article points out that the money designed by the CPC has chosen specific patterns to display the spirit of nationalism and the political views of the CPC. After issuance, the CPC ensured the acceptance of the border money by promoting special alternative names for money and enacting relevant laws. Border money also gained a reputation for its social meaning.
With the continuous advancement of We-Media, consumers are gradually starting to use User-Generated-Content on online social platforms as a reference for their travel decisions. Considering that consumers' subjective attitudes can also influence travel decisions, this study selects XiaoHongShu UGC and college students as research subjects, combining the IAM model, innovatively introducing MBTI theory to analyze the impact of XiaoHongShu UGC on travel decision-making of college students with different MBTI personality types through questionnaire surveys and literature research. The study found that there was no significant difference in the overall agreement degree of XiaoHongShu UGC and its impact on travel decisions among college students with different MBTI personality types, but the agreement degree of UGC’s content and perceived value had a predictive effect on how XiaoHongShu UGC influenced the travel decisions of college students. During the analysis process, this study also found several issues regarding XiaoHongShu UGC for college student users, such as low information accuracy, information source credibility, clarity, and emotional resonance. Therefore, this study proposes four suggestions to optimize XiaoHongShu UGC, providing new perspectives for online promotion in the tourism market and filling the gap in related research fields.
Amidst global and Chinese uncertainties, this paper delves into stock market volatility and option pricing within the current economic policy context. Focusing on China's stock market, it calculates returns and volatility changes in key indices, analyzing differences among indices and funds, along with temporal variations. Shared data characteristics and reflections on new market trends emerge. Employing methods such as the GARCH model, Black-Scholes formula, and Monte Carlo algorithm, it analyzes volatility and option pricing using extensive annual and monthly data. Visualizations showcase market change patterns. The study defines volatility as a measure of financial asset price fluctuation extent, reflecting asset risk. Higher volatility indicates pronounced price fluctuations and uncertainty, while lower volatility signifies smoother fluctuations and greater certainty. Merging data with volatility's significance, the study probes China's securities market uncertainty, investigating the link between option pricing and volatility. It concludes by identifying the connection between volatility, uncertainty, and option pricing, pointing to future research directions and challenges. Future work will track the latest market trends to enrich understanding.
As a result of the global recession caused by the 2020 COVID-19 pandemic, many countries adopted unconventional monetary policies. In response to the phenomenon of hyperinflation, the implementation of quantitative easing policies became the solution for many central banks to stabilise inflation. This paper will discuss quantitative easing monetary policy, the unlimited expansion model of monetary policy in support of fiscal policy, and quantitative tightening monetary policy, using the measures implemented by the Federal Reserve and the European Central Bank in response to the COVID-19 epidemic and their effects as examples. It is concluded that by analysing the forms that quantitative tightening can take, it is pointed out that the central bank maintains the market with complete certainty by signaling to participants that it is going to start implementing quantitative tightening and stating that it will only lead to a natural loss of bonds and won't involve any active sales, but at the same time it will limit the flexibility of the central bank's policy.
With the continuous development and change of the times, people have a higher pursuit of quality of life, and the demand and quality requirements of fresh products are increasing, requiring a more refined and suitable logistics management for the context of the times. The existing literature today is mainly from the perspective of traditional supply chain, and the research from the perspective of green supply chain is relatively missing. In this paper, I analyze the current situation of fresh produce logistics system in the context of a green supply chain to analyze the imperfections in this field according to the questionnaire survey and collection, then propose improvement suggestions and measures. The research in this paper will play an effective role in promoting the implementation of green supply chain. At the same time for the environmental awareness supply chain in the construction of society to play a role in calling for, and jointly help the development of green production and life.
In recent years, with the development of the economy, more and more people are concerned about the quality of life, and the word "sustainable" has become the goal of enterprises to chase, but in the daily necessities industry, which is highly popular among all people, there is not yet a complete set of the packaging recycling system. Currently there is unnecessary waste and many recyclable resources in many parts of the corporate supply chain, and these waste and resources, if better utilized, are also a sign of a leaner supply chain. I think sustainability is a part of the future that companies cannot ignore but also find it difficult to implement. In the case of the steep increase in the trading volume of daily necessities, a large amount of packaging waste in the hands of customers should be taken seriously, and a recycling system should be built urgently, Complete the closed loop of the supply chain.
In this research, we utilize the Ordinary Least Squares (OLS) regression method to explore the relationship between green gentrification and key socioeconomic factors within London's urban landscape. Our aim is to delve into the impact of introducing or expanding green spaces on residents' lives, particularly in relation to income, life expectancy, well-being, housing costs, and unemployment rates. Through the use of OLS regression and an extensive dataset sourced from empirical evidence, we quantitatively analyze the connections between green gentrification and variations in these socioeconomic variables across different neighborhoods. Our findings reveal noteworthy associations, highlighting positive correlations between green spaces and well-being, life expectancy, and house prices, while also noting a negative correlation with the unemployment rate. These insights contribute to a comprehensive understanding of the complex dynamics between urban development, environmental enhancements, and societal well-being, emphasizing the potential advantages of green gentrification and endorsing inclusive policies. Grounded in the OLS method, our research strengthens the empirical foundation for informed decision-making among policymakers, urban planners, and researchers dedicated to cultivating sustainable and equitable urban environments.
With the development of the economy, the relationship between government funding supply and central bank money supply has received widespread attention. This paper first analyzes the influencing factors between government funding supply and central bank money supply, then explains the data processing method, and finally verifies the feasibility of this study through experiments. The experimental results show that there is a certain degree of correlation between government funding supply and central bank money supply, and channels such as fiscal expenditure, debt issuance, and bank credit of government funding will affect the changes in central bank.
With the continuous development of society, the demand for communication in social settings has been steadily increasing in people's daily lives, leading to increasingly complex interpersonal relationships. Numerous studies have indicated that the expansion of interpersonal relationships influences the degree of individual loss aversion. Therefore, based on existing literature, we hypothesized that the social environment may have an impact on the level of loss aversion. To test our hypothesis, we conducted a questionnaire survey (N=157). We used grades and monetary variables as independent variables and assessed participants' levels of loss aversion through a scoring system. Our data analysis revealed that individuals are more likely to exhibit loss aversion in isolated environments compared to when they are in social settings. Furthermore, based on a review of previous research and data analysis, we speculate that a collectivist cultural background may be a significant factor contributing to these findings. Additionally, in cultures and regions where individualism prevails, individuals may be more inclined to exhibit loss aversion in social situations.
In recent years, the rapid development of China's technology and information economy, the Internet, big data, cloud computing, artificial intelligence, blockchain and other technologies to accelerate innovation, creating a huge development space and development opportunities for communications equipment manufacturing and sales class enterprises. Under the trend of world economic globalization, the competition among enterprises is becoming increasingly fierce, which means that the traditional management concept can no longer meet the development needs of enterprises. Modern enterprises pay more attention to strategic thinking, and try to combine, extend and apply it with management in order to seek long-term development. Strategic management has also become the focus of scholars' research.This paper take Huawei Investment Holding Co., Ltd. as an example to analyze, the main study of the enterprise in the development process to adopt a variety of corporate strategies, and this paper will also use SWOT analysis of corporate strategies. The results find that Huawei has great advantages in interms of the four aspects of SWOT. This study brings reference significance and direction for the development of electronic technology enterprises.