Advances in Economics, Management and Political Sciences

- The Open Access Proceedings Series for Conferences

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Volume Info.

  • Title

    Proceedings of the 2023 International Conference on Management Research and Economic Development

    Conference Date






    978-1-915371-95-9 (Print)

    978-1-915371-96-6 (Online)

    Published Date



    Javier Cifuentes-Faura, University of Murcia

    Canh Thien Dang, King's College London


  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230533

    Operation and Development by Blizzard Entertainment: The Fall of Overwatch and Organizational Behaviour Based Suggestions

    Since it came out, the multiplayer video game Overwatch from Blizzard Entertainment has only had a brief period of success and has been going downhill ever since. This study examines the operative and developing problems in Overwatch 1 and 2 from the consumers' and players' viewpoints to determine their reasons. It then builds a theoretical framework of organizational behavior to explore and explain those identified issues with reputation, customer experience and happiness, customer resonance, and corporate culture compliance. Practical solutions and suggestions that might be helpful for Blizzard Entertainment and further updates on Overwatch are also provided, involving performance management, employee selection, and customer interactions.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230534

    An Analysis of Starbucks’ Operation and Management Strategy in China

    Starbucks' growth has slowed in recent years. The "golden decade" of Starbucks is still far away. This article aims to analyze Starbucks China's management's pain points and difficulties and give corresponding suggestions. The analysis in this article comes from texts and data from different sources such as news, periodicals, and Starbucks' official website. The article first described the general situation of Starbucks in China's coffee market, showing how it expanded its stores and developed its brand in China. Then, the article describes Starbucks's four primary pain points and dilemmas in China. The pain points reflect the impact of the external environment on Starbucks' marketing. For example, the market is highly competitive and has regional gaps. This dilemma reflects the effects of Starbucks' internal problems on marketing. For example, staff training is not in place, and online and offline sales development is unbalanced. Therefore, Starbucks still has many deficiencies that need to be improved on the road of Chinese management. Starbucks can only return to the development speed of the "golden decade" by improving these deficiencies. In response to these deficiencies, the article gives four corresponding opinions, which are to expand the business to increase competitiveness; optimize employee incentive system to improve service quality and turnover; increase promotion of coupons to attract more consumers; establish Online communities to increase online sales and maintain their brand image.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230535

    Research on Internal Organization and Management of Haidilao Reflected in Post-Epidemic Era and Countermeasures

    During the epidemic, the catering industry in China and even the world has been hit hard, and many offline physical stores have had to close or even permanently close. However, it was Haidilao Enterprises that went against the trend. They adopted the strategy of expand-ing against the movement during the epidemic period. Still, the good times did not last long, which led to the continuous increase in losses of enterprises, and they had to close stores one after another. Finally, the development of Haidilao enterprises was sluggish. As the epidemic gradually receded, we ushered in the post-epidemic era, an opportunity for the development of many catering industries and a challenge for catering enterprises to change themselves. The origin of the problems in the development of the Haidilao enter-prise is internal management and control. This paper will study the internal organizational command and control issues and corresponding strategies of Haidilao enterprises in the post-epidemic era, hoping enterprises can seize the opportunity and return to life.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230537

    Analysis on the Marketing Strategies of Cultural and Creative Products Based on Case Study of Beijing's Palace Museum

    With the improvement of people's spiritual and cultural needs, cultural and creative industries are rising all over the world. Museums are pioneers and important carriers of cultural and creative industries. A good industrial strategy should be consumer-centric. The Palace Museum has played a leading role in the domestic cultural and creative industry and has successfully attracted many consumers with its excellent marketing concept. However, there are still some shortcomings in the commercialization of museums' creative cultural products. This article takes the Palace Museum as an example to explore the commercialization strategy of the cultural and creative industries. Through literature analysis, this study analyzes the development and industrial strategy of cultural and creative industries and puts forward suggestions to improve the development status of cultural and creative industries. Cultural and creative industries can optimize the product mix from the perspective of customers and design practical products with innovative thinking. The culture and creative industry should deliver third-party services and improve the logistics system. This paper also suggests to use of new media propaganda channels and to pay attention to intelligent propaganda.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230538

    Endowment Effect: Applying to Marketing, Stock, and Management

    This paper mainly focuses on the endowment effect and uses qualitative analysis and literature review to discuss and explain the endowment effect, and analyze the application of the endowment effect in sales, stock, and management. Through these three applications, we can have a good understanding of how the endowment effect works in our lives, which unconsciously influences a lot of our decisions. For some people, such as investors, the endowment effect influences them to make more correct and rational decisions. This paper also mentions some ways to suppress the endowment effect when making decisions. So in short, the endowment effect is a very common emotional bias, which will be explained in the following article.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230540

    The Strategy Adopted by China in the Presence of United States Technical Barriers to Trade

    With the growing openness of China towards the rest of the globe as well as the strengthening of its strong economy, commerce among both the United States and China is growing ever closer and import and export tension is increasing. In designed to safeguard the proportion of its own household products in the global market, the U.S. has incorporated different precautionary equipment and frequently set up a wide variety of technical barriers to trade for our goods, that either hinder the movement of our goods and cause substantial economic losses to our external trade corporate. How to circumvent and eliminate the U.S. technical barriers to trade in the process of foreign trade is a problem that China must face at this stage. This paper examines the effects of U.S. technical barriers on China’s trade and summarizes China’s strategy to cope with the U.S. technological barriers to international trade. Therefore, China should intensify the study of technological obstacles to commerce in the U. S., find effective ways to cross its technical barriers learn from its experience and advanced methods of building technical barriers to trade, establish a technical barrier to trade system with Chinese characteristics, constantly break through other countries' technical barriers to trade, and create a good environment for China's foreign trade.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230542

    Research on Scent Marketing on Real Case Application Analysis for End User

    Looking back to history, scent marketing applications can be traced to 4500 years ago in Ancient Egypt. Scent marketing has emerged as a powerful tool for businesses looking to create memorable experiences for customers. This strategy involves using specific fragrances to influence consumer behaviour, create an emotional connection with the brand and drive sales. In recent years, scent marketing has gained popularity among businesses of all sizes and across various industries. Currently, scent marketing around the world are mostly used in certain areas in business such as chain-hotels, luxurious shopping malls, and high-level cruises. However, whether or not it is effective and should be adapted in other fields like small food and clothing retail, entertainment centers like cinemas, or offices and libraries remains uncertain. By using research from analyses of real applications of scent marketing, interviews with professionals and shop owners, and big data on people's attitudes and changes in popularity, we came to the conclusion that scent marketing has a high application value for those companies that are suitable and innovative. In detail, based on research, we find out that scent marketing has the average effect of improving 17% of sales, 24% of brand image, and 27% of customer satisfaction. Therefore, research on scent marketing based on real-case application analysis for end users emphasizes a research process and an analysis of what kinds of companies are suitable and innovative to apply scent marketing and what effects these companies can expect to get.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230543

    A Literature Review on the Capital Asset Pricing Model in Finance

    CAPM (Capital Asset Pricing Model) plays an extremely important role in the financial sector. However, since the establishment of the model, the discussion and dispute about it have never stopped. It predicts future data through past market data. However, with the deepening of research, people find that the stock returns in the capital market do not conform to CAPM. The results obtained by the capital asset pricing model may be due to the lack of data validity in the market, which leads to its own inability to carry out relevant tests. In different regions, scholars in some regions have also conducted relevant research on the local capital market. They think that CAPM does not conform to their current regional situation.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230544

    Discussion on the Advantages and Disadvantages of the DCF Model in the Current Era and the Improvement of the Model

    The discounted cash flow model is a company value evaluation method widely used by many domestic investors when investing company. However, under the background of the epidemic, due to factors like low benchmark interest rates that are not conducive to the valuation of the DCF model, the accuracy of the discounted cash flow model valuation has been questioned. In addition, the DCF model is not entirely applicable to the domestic market because of the multiple systems and the local capital market's imperfections, so the model needs to be improved. In this paper, the existing literature is summarized, and it was found that the time series analysis method can be used, which can predict the company's future cash flow more accurately, instead of the sales ratio analysis method, while the discount rate can be calculated more accurately by substituting each company's beta into the calculation instead of using the company's industry beta.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230546

    Analysis and Development Countermeasures of Game Industry PEST from the Perspective of Metauniverse

    Over the past two decades, the concept of the meta-universe has gained widespread popularity and has emerged as a leading development direction for the gaming industry. This has led to significant interest from social capital investors. In light of this, this paper examines the development environment of the gaming industry using a PEST analysis approach, with a focus on the political, economic, social, and technological factors that are relevant to the meta-universe. The aim of this analysis is to provide recommendations and strategic guidance for game companies that seek to enter the metaverse industry.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230548

    The Application of Cryptocurrencies in the Metaverse

    In recent times, the utilization of cryptocurrencies in the Metaverse has garnered increasing attention, with the advent of blockchain technology and the surge in popularity of the Metaverse. This investigation endeavors to ex-amine the implementation of cryptocurrencies in the Metaverse, as well as its influence on the cryptocurrency market and the progression of the Metaverse. This study adopts the method of combining literature review and case analysis, first sorts out the application scenarios of cryptocurrencies in the Metaverse, including transactions, games, virtual assets, etc.; then sum-marizes the application scenarios of cryptocurrencies in the Metaverse through case analysis Advantages and challenges, including decentralization, security, traceability, etc.; Finally, the development trend and prospect of cryptocurrency in the metaverse are discussed, and the impact of this appli-cation on the cryptocurrency market and the development of the metaverse is analyzed. The results of the study show that cryptocurrencies have great application potential in the Metaverse. First of all, the decentralized nature of cryptocurrencies can guarantee the security and traceability of transac-tions and assets in the Metaverse. Secondly, the circulation and use of cryp-tocurrencies can also promote economic development and prosperity in the Metaverse. However, the application of cryptocurrencies in the Metaverse al-so faces many challenges, including transaction speed, user experience, and compliance.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230549

    The Relationship of Cryptocurrencies and the Stock Market

    In today's world, with the internet and finance closely integrated, the global-ization of cryptocurrency has deepened, prompting people to pay more atten-tion to the impact of cryptocurrency on the entire financial market. This pa-per provides a comprehensive review of relevant literature from five aspects: the development of cryptocurrency, price changes, the impact of cryptocur-rency on the stock market, the impact of cryptocurrency on the banking in-dustry, and the currency and commodity characteristics of cryptocurrency. The author also compares the price curves (in USD) of the S&P 500, ETH, and BTC from March 21, 2022, to March 21, 2023, and hopes to gain in-sights into the relationship between stocks and cryptocurrencies. Our re-search shows that the emergence of cryptocurrency has had a significant im-pact on the financial market, particularly in the banking industry. Although the emergence of cryptocurrency has added vitality to the financial market and increased investment options, the instability of cryptocurrency has also brought risks to investors. As the cryptocurrency market continues to ex-pand, policymakers and investors need to understand its potential impact on traditional financial instruments and the broader economy.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230550

    The Application of Cryptocurrencies in Non-Fungible Tokens

    This paper explores the application of cryptocurrencies in Non-Fungible Tokens (NFTs). After introducing the concepts and historical background of NFTs and cryptocurrencies, the paper analyzes the advantages of using cryptocurrencies in NFTs, including decentralization, security, stable storage value, cross-border payment, low transaction cost, anonymity, programmability, and community support. However, the paper also highlights the shortcomings of this application, such as unclear laws and regulations, price fluctuations, environmental problems, technical obstacles, security risks, intellectual copyright issues, and moral and social issues. To address these challenges, the paper proposes several workarounds, such as using stablecoins to solve volatility problems, providing user-friendly interfaces and educational resources to solve complex problems, and increasing the number of merchants and service providers accepting cryptocurrencies as payment methods to solve the problem of a limitation. Finally, the paper analyzes the industry trend and its potential future direction. This paper contributes to a better understanding of the potential of cryptocurrencies in NFTs and provides insights into the development of this emerging field.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230551

    The Impact of COVID-19 on Investors’ Behavior: Evidence from Risk-aversion, Herding Behavior, and Availability Bias

    The unforeseen pandemic has significantly influenced the financial market, and has caused major disruptions in the global economy, leading to a sharp decline in stock prices and increased volatility in financial markets. Assessing the impact of the COVID-19 pandemic on the market is essential for both investors and policymakers. This study recognizes that irrationality exists during the pandemic in investors’ decision-making and find that the efficient market hypothesis does not always hold perfectly. According to the analysis, emotional and cognitive biases play significant roles in investors’ decision-making, especially under uncertainty. Using empirical data from the previous study, the existence of risk aversion, herding behavior, and availability bias during the pandemic is testified. The results suggest that the pandemic has led to an increase in risk aversion among investors, as well as a tendency towards herding behavior in the stock market but not the crypto market. Furthermore, evidence of availability bias is found, with investors placing greater weight on recent news and information related to the pandemic, and making decisions based on that information. These findings have important implications for investment strategy and risk management during a crisis.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230552

    A Game Analysis on International Emissions Trading under Climate Change

    Carbon emissions and climate are intricately related. People's activities are growing as a result of advances in science and technology, which raises carbon dioxide emissions. As a result of these greenhouse gases, the atmosphere's ability to dissipate heat will decline, raising global temperatures and making climate change a more serious issue. To achieve sustainable development, people must begin to pay attention to these challenges and strike a balance between the environment and economic progress. This paper introduces the mechanism of emissions trading and the benefits of its operation. In order to discuss the possibility of enabling countries to use emissions trading, this paper uses a non-cooperative game theory model to analyze the choices made by developing and developed countries under the background of the Kyoto Protocol. Combined with the equilibrium obtained by the hypothesized model, some methods and reasons for improving the results are proposed. This paper concludes that both developed and developing countries are more inclined to use emissions trading to achieve emission reduction targets or obtain certain benefits.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230553

    Challenges and Opportunities in the Business Model of Formula 1

    This paper provides an overview of the business model of Formula 1 (F1), a premier motorsport racing competition. The main sources of revenue for F1 include TV broadcasting rights, race hosting fees, sponsorship and naming rights, and merchandise sales. In analyzing F1's business model, this paper examines the various revenue streams and the challenges they face. F1 is facing challenges in the area of TV broadcasting rights due to the rise of streaming services and the changing media landscape. Additionally, scheduling conflicts due to the limited time available to hold races are creating tensions between stakeholders. The paper also looks at the impact of sponsorship on F1, including the extension of sponsorship beyond traditional marketing tactics by brands like Rolex and IWC. However, some sponsorship deals have encountered issues, such as Marlboro's association with tobacco and Alfa Romeo's partnership with Stake violating certain countries' laws. It also draws upon a combination of literature review and personal experience to identify key issues and propose potential solutions. By analyzing existing research and drawing upon observations, the paper aims to provide a comprehensive understanding of the business model of Formula 1 and the challenges and opportunities it faces in the current market. Finally, the paper concludes with recommendations for addressing these issues, including exploring alternative revenue streams, implementing more flexible scheduling, and ensuring that sponsor partnerships align with F1's values and do not violate local laws.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230554

    Analysis of Vans Marketing Strategy

    Nowadays, more and more sports brands appear in the market, and different brand marketing strategies will bring different results. The purpose of this case study is to explore the marketing strategies of Vans and find out its shortcoming. This paper adopts the method of literature analysis. By reviewing and summarizing the papers on the marketing case analysis of Vans or the marketing analysis of fashion sports brands in the past five years, this paper summarizes the marketing strategies of Vans brand in various aspects of disagreement and analyzes the advantages and disadvantages of various strategies. The findings show that this brand has both advantages and disadvantages. The advantage of the product is that it always co-branding with other artists or brands. The disadvantage is the product itself, the price and the way to sell the products. To summarize, Vans can develop an effective strategy by modifying its issues from different sides. The suggestions are that its products need to be more innovative which can get noticed by the public again. Besides, the company should appropriately reduce the price of specific products. Finally, this brand should consider investing more money into the product itself to improve product quality.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230557

    Problems within the Management of European Football Clubs and Countermeasures: A Case Study on Manchester City and the Financial Fair Play

    Football nowadays is definitely one of the most important ways of entertainment in people’s life. Football leagues such as the Premier League are attracting millions of viewers from all over the world. But when people talk about football, fairness is something that should guarantee to the fans. Thus the UEFA has introduced Financial Fair Play in order to achieve equality in European football clubs’ finance and management. In this investigation, the aim is to research how European football clubs could work under the restrictions of the Financial Fair Play and provide a case study on Manchester City’s breaches in 2023. This paper is to research and compare recent cases of other teams’ violations and estimates the best way European football clubs can survive under the policy, and provided a possible sanction to Manchester’s case, which could be summarised as a 15-to-30-point point deduction and a fine of around $600 million. Thus the UEFA could make it the fairest for every group of clubs and fans and form an equal environment for European Football.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230558

    Analysis of Marketing Strategy of Chinese Sports Brands – Taking ANTA Company as an Example

    A good marketing strategy is a competitive advantage. This study aims to examine ANTA Company's marketing approach by utilizing literature analysis and integrated analysis methods with data collection. The main areas of focus include product strategy, price strategy, place strategy, promotion strategy and a SWOT analysis to analyze the effects of Anta's marketing approach, identify any shortcomings in the strategy, and provide appropriate recommendations for improvement. From the analysis of Anta’s marketing strategy and the gains of the strategies, the research results show that Anta's marketing plan is primarily aligned with the buying potential of Chinese customers but there are 3 existing problems, such as minimal brand recognition outside China, lack of targeted marketing campaigns, and design issues. This case study provides several suggestions which specifically are brand concept and media, social media topics, measure and optimization, diversification of brand building and differentiation of domestic and foreign markets, innovation, and addressing controversies in response to these problems.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/26/20230559

    Challenges and Strategies for Management of IAAF World Championships in Athletics

    The IAAF World Championships in Athletics (WCH) is one of the biggest sports events with high popularity. However, the influence and economics of WCH still face many challenges. This study discusses the challenges faced by WCH on venue and marketing management and proposes strategies to address these challenges by reviewing the literature on the development and management of WCH and other sports events from the perspectives of venue management and marketing management. In terms of selecting the host city, this study suggests considering the city's size, transportation convenience and its sports spirit and cultural background. Facing the increased demand and heightened expectations for live events and entertainment, multi-purpose venues with diverse attractions and amenities should be taken into account. Additionally, to increase the quantity and quality of the athletes, offering substantial prize money for athletes is crucial. And creating a compelling fan experience, activating sponsorships, and partnering with influencers should be also considered to promote the marketing management of WCH.

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