Advances in Economics, Management and Political Sciences

- The Open Access Proceedings Series for Conferences

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Volume Info.

  • Title

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

    Conference Date






    978-1-915371-49-2 (Print)

    978-1-915371-50-8 (Online)

    Published Date



    Canh Thien Dang, King's College London

    Javier Cifuentes-Faura, University of Murcia


  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230498

    Analysis of the Game between Russia and Ukraine

    The game between Russia and Ukraine has received a great amount of attention following the escalation of the Russian-Ukrainian war in 2022. Russia and Ukraine have been in conflict and gaming throughout their history. By analyzing the relationship between Russia and Ukraine and a series of game behaviors, we can draw inspiration from the strategies and implications of the game, which are of reference value in many fields. The article shows the historical behavior of the Russian-Ukrainian game analyses the Russian-Ukrainian strategy using a simple game theoretical model and collates the implications of the outcome of the game. Based on the analysis of the Russian-Ukrainian game, the article suggests different recommendations for the countries. Different countries can choose the strategy with higher gains and lower losses according to the different recommendations. This research has important practical significance for the correct understanding of Russia-Ukraine political relations.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230499

    Corporate Governance and Firm Performance in China: A Comparative Case Study of China National Petroleum Corporation and Other Four Asian Corporations

    The study examines the impact of corporate governance on China Petroleum Nation Corporation and compares it with other selected four firms within China and Asia region. The variable identified for measuring corporate performance in this study includes return on Assets, Board size, duality, and interdependence of the board members as of 2022. The impacts of corporate governance on the firms were established through collecting information from the company’s annual reports. The data obtained from the reports have been used for descriptive and correlational analysis. From this study, it has been established that firms within Asia tend to use various elements of structure to determine their performance. The variables used in the analysis, such as duality, the board size, and the interdependence of the board members, had a significant positive relationship with the firm’s performance. The study concluded that company directors should balance critical corporate structure variables to attain high organizational performance. Proper corporate governance has a significant impact on the performance of a company.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230500

    The Positive Role of Private Equity and LBOs in Mergers and Acquisitions: A Response to The Negative Opinion

    In western countries, after nearly 40 years of rapid development, private equity firms have used leveraged buyouts to perfection in M&A activities, yielding unlimited benefits for different subjects. Nevertheless, some people claim that, private equity and LBOs are unfair practices, which is harmful in many spheres. Especially in China, there are many problems behind the immature introduction of private equity. Therefore, to respond to these arguments, this essay aims to explain the positive aspects of private equity and LBOs, illustrate why these benefits can be achieved, and prove those negative views are unreasonable. Supported by some scholar’s conclusions, statistics, and specific examples, it can be concluded that, private equity and LBOs are helpful to reduce agency costs, improve corporation value in targets, and create tax income for a country’s Treasury. Moreover, they have little effect on unemployment, the insolvency risk caused by leveraged buyouts is manageable, and the transaction process of them becomes safer.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230501

    Characteristics and Application of Corporate Fund-raising Forms: Based on SPAC and IPO

    After a record year in 2021, there is a sharp slowdown in transactions in the global IPO market in the first and second quarters of 2022. The global IPO market has fallen into low inflation, the global economic growth rate has declined, and the Russian Ukrainian war has led to a sharp sell-off in the IPO market. This article is written against such background, and mainly analyzes two ways of listing, SPAC, and IPO. Based on the analysis and comparison of the process, advantages and disadvantages of SPAC and IPO, this paper summarizes the choices and reasons for investors to choose different listing methods for different companies. On this basis, the future development trend of traditional IPO and SPAC IPO is predicted. The analysis of the two listing methods in this paper is based on the current market performance, and there may be unforeseen changes in the future.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230502

    Application of AI Technology in Mergers & Acquisitions and Its Regulation

    Applying Artificial Intelligence (AI) brings more possibilities to the Mergers and Acquisitions (M&A) process. However, with the high development of AI, its safety and ethical consequences are gradually emerging. This paper adopts the case analysis method and uses AI's specific application in the due diligence process as an example to analyze the legal risks of its program testing environment, data extraction security, and error tolerance rate. Also, this paper will use contrastive analysis and documentary analysis to explore the legal gaps and prospects of AI in M&A by taking the EU's AI Ethical guidelines, the AI Act, and Guidance for Regulation of Artificial Intelligence Applications from the US as examples, analyzing the regulatory directions and regulations for M&A.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230503

    The Influence of Different Demographic Factors on Consumers’ Financial Literacy in China

    Because of the impact of the COVID-19 pandemic, China's economy and financial markets have been volatile in recent years. This necessitates using financial literacy by Chinese customers to handle their assets effectively and avoid losses. This essay aims to investigate the effect of various demographic parameters on the financial quality of Chinese consumers. The 2019 China Consumer Finance Survey questionnaire yielded 13,000 data points for this article. STATA was applied to screen twelve independent variables associated with financial quality, and a multiple linear regression model was utilized to determine the association between each variable. The findings revealed a strong relationship between age, gender, income, education level, the proportion of household members with sickness, consumer risk preference, rural domicile, family size, self-employment and house ownership with financial quality, except that there was no significant correlation between marital status and consumer financial quality. The results indicated a significant correlation between age, gender, income, education level, and the proportion of household members with illness. These findings imply that different demographic factors influence Chinese consumers' financial quality to varying degrees. As a result, each consumer makes different decisions about managing assets and avoiding risk.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230505

    The Corporate Strategy Study of NIO Company

    A growing need for investment and transactions in the new energy vehicle business has been seen in recent years due to the industry's quick expansion. China's national policies also strongly support the development of new energy vehicles. Take NIO as a case; NIO is a global new energy vehicle company founded in 2014. At present, it is also a leading automobile brand in China. This article will estimate the cash flow of NIO for several years and give the cash flow forecast of NIO through the DCF valuation model. Finally, the business and technology of NIO will be analyzed from different stages of the business environment.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230510

    Affect Appears Based on Local Shop Sales Revenue Affecting the Tourism Industry

    This paper work analysis how much did the local shop impact their annually profit and how did they do the proportion with travel agency company to make Win-win condition and keep cooperation in a long term, to get result which is there will be huge impact to travel agency company in their annually profit. Also the influence that through the cooperation that involves travel agency and local shop to improve the situation of China using different type of promotion to cause the growth of economics scale and the quality of tourism industry in China.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230511

    To What Extent Is the Major Marketing Tactics Used in the Fashion Industry?

    This study investigates the marketing tactics used in the fashion industry. This paper includes case studies of two trendy apparel brands: Lululemon and Brandy Melville; interviews with 5 participants; the refined extraction of an eBook; and three dissertations. These have concluded seven primary marketing tactics and speculated possible future trends of marketing strategy. In general, this paper can provide a brief idea about the marketing situation in the fashion industry. The eBook is named as “Branding lessons for fashion retailers” and introduces advice for new start-up fashion retailers, including 34 steps. One of the documents is called "Shop at your own risk? Consumer activities in fashion e-commerce". This paper argues the 12 activities consumers manage perceived risks while purchasing online. Another document has the title “What marketing tools fashion business uses to market their business.” This document discusses Laura Ashely's marketing tools for her fashion business with quantitive data to conclude the usefulness of 4 marketing tools. The last dissertation contained is called "Brandy Melville's global marketing strategies in China" this evaluates the marketing strategies of Brandy Melville, which provide a background for the case study.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230512

    AR in Fashion Retail Industry

    This study introduces the application and impact of AR technology in fashion retailing and discusses the role of data and technology by analyzing its mechanism and effect. This research adopts the literature research method, analyzes many authoritative kinds of literature, and concludes that AR is still a project worth studying in the fashion retail industry. Furthermore, AR technology can quickly obtain the consumer database to improve the products and marketing strategies further to achieve profit.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230513

    The Anchoring Effect and Related Applications: Cognitive Inertia and Habitual Thinking

    By analysis research on the anchoring effect of previous scholars, it was found that irrational judgments in financial markets due to the anchoring effect are significant with the influence of past information. By analyzing data from the equity and securities markets, we find that even professionals can make inaccurate judgments due to the anchoring effect. In addition, we found that the anchoring effect does not require a significant information factor to be implemented, as different experiments have shown that the subconscious mind can also influence people's decisions. However, it is interesting to note that the anchoring effect can also influence behavior in the opposite way, by limiting the sales of a product and thus increasing the sales of that product.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230515

    How to Recover the Supply Chain under COVID-19 Period Through Recovery Its Resilience

    The paper describes how the COVID-19 pandemic led to a worldwide supply and demand crunch for medical supplies such as masks and Personal protective equipment (PPE), causing a break in the supply chain. The application of circular economy concepts to supply chains creates resilient supply chains by reducing dependence on external inputs and outputs to help business cope with unforeseen disasters. The resilient supply chain is enhanced by applying the "3R" principle of value recapture in the circular economy model, i.e. reduce, reuse and recycle, and also by drawing on economic models such as platform economy and sharing economy. The paper references are taken from academic databases such as Google Scholar, as well as online materials such as official websites and news websites, and publications such as Supply Chain Guide.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230516

    Research Progress of PPP in Highway Project Financing

    The PPP mode has an important position in the financing of highway projects in China. This paper first summarizes the definition of the PPP mode and its common features, then analyses the development status of the mode in China in the light of statistical data and the unique advantages of the PPP mode in highway financing. Finally, on the basis of previous scholarly research, new problems that need to be solved in the Post-PPP era are proposed and specific countermeasures are given to provide a reference for the further development of the PPP mode in the financing of highway projects in China.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230517

    The Concept of Threshold Inflation and How Threshold Inflation Relates to Economic Growth

    The relationship between inflation rate and economic growth has resulted in their correlation becoming a subject in an extensive body of empirical and theoretical studies. Many studies have focused on how inflation relates to positive or negative growth. A gap exists in the threshold value beyond which this correlation works. The study fills this gap by using the threshold model to understand a threshold value beyond which inflation negatively impacts economic growth. The research examines the positive and negative associations between inflation and economic growth, the significant threshold value of the inflation rate beyond which it adversely affects growth, and the variation of threshold value and impact across different countries and economies in different developmental stages. The method involves analyzing secondary sources to establish a theoretical framework on the negative relationship between inflation and economic growth and an empirical framework on the relationship between high and low inflation rates on economic growth and threshold values and their impact on economic growth. The method also involves examining practical examples as a strategy to show that there is a variation in inflation threshold value. The concept of threshold inflation shows that there is a value beyond which an economy of a certain country, irrespective of developmental stage, negatively affects economic growth.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230520

    Cryptocurrencies on the Tech Wave —The Rise of Another Official Currency or Just a Dystopian Investment

    Cryptocurrencies are a new form of currency that have gained widespread attention in today's age of rapid technological advancement. The underlying blockchain technology provides many advantages for cryptocurrency transactions, including decentralization, anonymity, and security. But there are always two sides to a story, and despite the fact that cryptocurrencies have solid technical backing, their development has been severely hampered by issues like the high stability of individual coins and the potential dangers of the technology itself, which have led many nations to pass laws restricting cryptocurrency use. Taking a literature review method, this paper explores the features of cryptocurrencies, their potential for institutionalization as legal tender, and their primary effect on the economy. This paper concludes that the widespread adoption of cryptocurrencies as a viable alternative to fiat currencies is highly improbable in the foreseeable future.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230522

    Analysis of O2O E-commerce Models - Taking Meituan and Ubereats as Examples

    With the advent of the commercial Internet came the birth of the e-commerce industry, and with the proliferation of mobile Internet came the rise of O2O e-commerce. Emerging and quickly entering a phase of vicious competition in terms of subsidies is China's O2O local lifestyle service industry. This thesis takes the O2O e-commerce model of the local life service industry as its research object, uses the revised O2O value system model to analyze the Meituan O2O e-commerce model in depth, and compares it to Ubereats, a typical representative of the C2C business model, in order to identify the problems and put forward corresponding development suggestions, using the basic theories of marketing management, management, and e-commerce. Meituan's success can be attributed in large part to the company's innovative business model, which has given the company a leg up in the market and contributed to the company's distinctive core competitiveness. This paper's findings have important implications for the evolution of the e-commerce sector in the Internet age, the development of new business models for corporations, and the modernization of entire industries.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230523

    Behavioral Heuristics of Chinese Education – insight into the world’s largest education market through behavioral economics

    Reflections upon the acuteness of human intuitive decisions have spurred explorations of interest in behavioral heuristics. While the field has successfully rationalized unexpected outcomes in dissonance against the standard expected utility framework, the path to which its seeming intangibilities make utilitarian contributions toward behaviors and interactions within economies is still yet to be endeavored. Such studies received particularly little attention in China, where awareness of systematic behavioral biases remains limited to the majority of the public, hindering the efficiency of the country’s efforts toward economic development. This dissertation reviews the education system of China, an imperative mechanism, yielding millions whose capabilities and propensities define the prosperity of the world ahead. Through personal experience, a hypothesis was formed around hyperbolic preferences, cognitive dissonance, and the decoy effect. Combining the rigors of survey and the humanistic nature of ethnography, primary research was conducted with students from a district key high school in Shanghai. Results evidently showed students’ tendencies to overvalue one-dimensional test scores while overlooking the potential for un-materialized skills, as well as their nonperformance of creative or critical abilities. Meanwhile, the uprise of international options (AP, IB, A-level, etc.) induced even higher levels of dependence on local education amongst non-international students, as a result of asymmetric information, deepening their oblivion to potential misjudgments due to cognitive bias.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230524

    Correlation and Impact of Bitcoin with Other Cryptocurrency Portfolios

    Bitcoin is a peer-to-peer form of digital currency proposed in 2008. Unlike other currencies, Bitcoin does not rely on a specific institution to issue it, it is based on a specific algorithm that generates it through a large number of calculations. In some countries, government agencies, central banks and academia regard Bitcoin is a virtual currency rather than a currency. This is because of Bitcoin’s high volatility, which does not have the two basic functions of the unit of account and the store of value that are unique to the currency. In recent years, Bitcoin has seen increasing media coverage and other cryptocurrency portfolios, as well as the significant capital gains have been seen in the high volatility environment. In this paper, we shed light on the low correlation of Bitcoin with traditional investment assets, making Bitcoin a potentially high-quality source of portfolio diversification. The results of the finding suggest that Bitcoin investments offer significant diversification benefits and should be included in optimal portfolios. In addition to this, we find that hedging strategies involving gold, oil, stocks and Bitcoin significantly reduce portfolio risk.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230529

    Application of Momentum Strategy in the Chinese Market

    In recent years, momentum trading has been a very mainstream trading strategy. The Chinese market is an emerging market and there are a large number of retail investors. Thus it is characterized by irrational behavior and non-efficient markets. These characteristics are favorable for applying the momentum strategy, which has not been widely used in the Chinese market. In this paper, three tests to examine the non-effectiveness and trend correlation of the market are conducted and a momentum strategy - determining the timing of trades by judging the market trend based on those tests is proposed. The empirical experiments shows that when time interval is small, the strategy achieves good performance on two representative indices of Chinese market, the CSI 300 Index and the CSI 500 Index. It also indicates that in certain cases there are indeed a certain of market inefficiency in China and that momentum is a proper trading strategy to get profit.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/11/20230530

    Investigate the Impacts of Humor on Advertisement Effectiveness via Social Media Marketing

    This paper focuses on the impact of humor on advertisement effectiveness via social media marketing. The paper aims to give some inspiration to the social media era from the perspective of marketing. It will first illustrate the difference between social media and traditional media, which provides a good overview of the research. Then, it will mention the measures and the general effects of humor on advertising, like the number of “likes”, “comment” and “reposting”. By combining the previous theories, the study found that the effect of humor marketing can be achieved more on social media, which contains advantages and disadvantages. It also mentions how to increase humor impact social media marketing. In addition, the methodology provides a perspective on the study of types of humorous memes (IV) that will impact the consumer’s willingness to spread the advertisement (DV1). The paper will also indicate the prediction of three types of humor meme ads that influence consumers' willingness to share.

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