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






    978-1-915371-81-2 (Print)

    978-1-915371-82-9 (Online)

    Published Date



    Javier Cifuentes-Faura, University of Murcia

    Canh Thien Dang, King's College London


  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230107

    New Energy Vehicles under the Volatility of International Energy Prices: Evidence from Regional Conflict

    Russia and Ukraine engaged in a military battle on February 24, 2022. Russia's military actions are viewed as an act of aggression toward Ukraine by the United States, the United Kingdom, the European Union, and other nations. The global energy crisis brought on by the onset of conflict and international sanctions is unavoidably having an influence on the new energy vehicle industry because Russia is the most significant producer and exporter of oil in the world. This article will use the counterfactual framework built by ARIMA model to study and analyze the impact of the Russian-Ukrainian conflict on the new energy vehicle industry. In conclusion, in short term, the cost effect dominates, and in long term, substitution effect dominates. This paper innovatively uses an index to examine the relationship between the Russian-Ukrainian conflict and the new energy vehicle industry. And it provides reference advice for government policy-making and investor portfolio selection. Government should vigorously develop the new energy industry, while investors should consider increasing the proportion of investment in new energy vehicles.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230108

    Analysis on KFC’s Business Model in China

    In China, in addition to KFC and McDonald's, there are numerous new Chinese fast food restaurants, such as Mr. Rice, Xiangcun Ji, Real Kung Fu, etc. In China, however, KFC has done a much better job of "adapting to the local cuisine and implementing numerous adjustments" than McDonald's. Therefore, Chinese fast food has much to learn from them. This study will employ three methods of research:  comparative analysis, survey method, and case study. The study explains why KFC performs significantly better than McDonald's in China, both in terms of revenue and number of locations. The paper analyzed several business strategies that can be taught from KFC's business model in order to make China's new fast food as global as KFC. The paper demonstrates to the viewers how to use KFC's superior marketing techniques to Chinese fast food and turn it into a global chain. The paper will provide some suggestions  for these fast food restaurants in becoming more international and expanding their number of stores, as well as teaching them how to apply marketing strategies to increase their revenue.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230109

    Game Publication and Influence on Stock Price

    The game industry has become the important industry in Internet industry and had a rapid growth in past five years. Thanks to this industry in the financial market has also been more and more investors and capital attention, they want to choose the game that has the maximum potential profit. We use the event study and collect the record of game release in five years to analyze the connection between official release and stock price.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230111

    Research on the HEYTEA's Marketing Strategy

    HEYTEA, the leader of tea in China, used social currency to make successful marketing decisions again and again and broaden its market, which created one new product after another and ushered in the peak of sales. In order to clarify how they used social currency to achieve such success, this article did a lot of research on the brand's growth and found some data on their official social media account. This article tries to understand how HEYTEA has become so successful by using social currencies. All the information studied in this article comes from HEYTEA's official website and its official account. This article concludes that HEYTEA uses emphasis on creativity, launching new products, and brand linkage to spread their products like viruses.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230112

    Analysis on the Co-branding Strategy of Gucci

    Co-branding has become a vital strategy in the fashion marketing industry. The strategy involves collaborating with other brands to jointly innovate new products. This paper looks at the positive and negative aspects of co-branding. Taking the co-branding initiatives by Gucci as a case study, this paper makes the following findings. Co-branding helps brands to grow as long as both the two collaborating brands have unique strengths that make them better together. Such strengths may include market reach, brand awareness and reputation, and technical know-how. However, co-branding may produce unintended negative consequences when one brand suffers a negative brand image, which ends up getting transferred to the co-branding partner. Furthermore, either of the collaborating brands may lose its original brand image due to the influence of the partner brand. In the case of Gucci, it is found that the co-branding initiatives have resulted in mutual benefits for Gucci and its partners, but the strategy should not be extended for a long duration, as this is a risk factor for brand dilution.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230113

    The Significance of Regional Tax Incentives in Creating Economic Profit Zones: A Case Study of Khorgos, Xinjiang, China

    The government may use tax incentives to attract companies to register in an economically unbalanced region to boost the local economy and create an economic profit zone. Regional tax incentives can reduce costs and increase profitability, thus creating an economic profit zone. This paper examines the significance of regional tax incentives in creating economic profit zones by using Khorgos of Xinjiang, China as an example. The study concludes that the significance of regional tax incentives in creating economic profit zones lies in balancing and regulating the regional imbalance of development from within the country itself.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230115

    The Arbitrage Outcome in the Triangular and Quadrangular Arbitrage Paths

    For a long time, both nationally and internationally, RMB hedging has been a contentious issue. The study and analysis of triangle and quadrilateral hedging in 30 countries are the focus of this article. In addition, they are classified into three groups: industrialized nations, developing countries, and backward countries, with the 30 countries that were chosen falling into each category. On the other hand, triangular arbitrage is an arbitrage that benefits from cross-exchange rate price movements. In contrast, quadrilateral arbitrage follows in the footsteps of those above but involves going via two more countries. Moreover, the data analysis for triangular and quadrangle arbitrage uses the total average, average, maximum, and minimum of favorable spreads, per the study below. From all of this, it could be seen that square hedging frequently has a broader spread or more losses, while triangular hedging frequently has a narrower spread.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230116

    Trend of Chip Industry under the Negative Interest Rate Policy: Based on Time Series Model

    On 7 October 2022, the US government issued a revised policy regarding semiconductor technology export toward China. The 139 pages of rules stated the regulation on export of chips, more specifically, the advanced computer chips that could support AI algorithms. In fact, this is not the first time for US government banning export of high-end computer chips to China, but this one could be the most expensive export restriction within a decade. Chinese chip companies have long suffered from the banning from US government, the development of the whole industry is filled with twists and turns as well, but the thriving of Chinese chip market is still deeply related to the US economy's performance. This paper discovers the correlation between the performance of Chinese chip industry, which is revealed by the index level of chip industry within China's mainland stock market, and the US to RMB exchange rate, starting from 2016 to present. The paper applied ARMA-GARCH model to predict and analyze the data, studying how will US exchange rate affect the development of chip industry in China. It also predicts the development of Chinese chip industry and then makes suggestions for future development of the Chinese chip companies.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230117

    The Economic Impact of Aging on China’s Public Health: A Short-term Perspective

    In today's world, the aging of the population is an absolute trend. The aging of the population is the result of the improvement of the medical level, the decline of the birth rate and the extension of the life expectancy. China is experiencing the largest and fastest population aging process in the world. Population aging has brought huge challenges to the stable operation of China's medical insurance system and put pressure on the Chinese government's fiscal expenditure. This paper constructs a VAR model on population aging, medical insurance expenditure and GDP growth, find that past data have shown that GDP growth and medical insurance expenditure have adverse reactions to the intensification of population aging. In the prediction of the future, the further deepening of population aging will bring challenges to China's economic growth and government finance. Chinese government should adjust the policy on medical insurance expenditure to solve the problem caused by deeper aging, to promote the sustainable development of China's medical insurance.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230118

    Changes in Cisco Stock Prices under the Uncertain Interest Rate Policy: Based on ARIMA Model

    As The Federal Reserve System (Fed) raised the interest rate for 6 times from March 15th until December. The consecutively raise of interest rate by 75 basis points each time throughout the year for 4 times has reached the maximum extent comparing to the past 40 years. Fed interest rate hike not only has impacts on the United States economics, but also bringing different effects globally. As a result, stock price of companies can change accordingly to the interest rate hike. Cisco, as a multinational cooperation technology company first founded in America, is chosen to be analyzed. The data of Cisco stock (CSCO) price from 2021 March to 2022 March is extracted and ARIMA model is used for forecasting stock price in the time series. The study account for the difference between values forecasted by ARIMA and the actual values, and thus observe the impact of Fed interest rate hike on Cisco stock price, further explanations related to the difference. The Fed interest rate hike result in decrease in Cisco stock price.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230119

    The Impact Caused by COVID-19 Pandemic on Pfizer Inc. Stock Price: Based on a Counterfactual Framework

    As the coronavirus pandemic spreads worldwide, many nations have implemented social distance regulations and quarantine measures to stop the spread of the COVID-19 epidemic. During this period, people's consumption levels dropped all over the world, resulting in a decrease in the capacity of the entire society to produce goods and services. As a result, thousands of workers lost their jobs and numerous manufacturing plants, entertainment companies struggled financially until going out of business. However, the value of some biopharmaceutical firms' shares has climbed rather than fallen due to some of these businesses made great contribution on preventing the spread of the pandemic by developing vaccines and useful medications. In this article, an American multinational pharmaceutical and biotechnology corporation, Pfizer Inc. was selected and daily stock data from February 2009 to December 2022 was extracted. The ARIMA model was applied to forecast the stock price of Pfizer Inc. without the Covid-19 pandemic. This study focuses on comparing the forecasted stock price with actual stock price and explores the possible reasons for this difference.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230120

    Analysis of the Xiao Guan Tea’s Marketing Strategy from the Perspective of Consumers

    It is believed that the Chinese tea culture dates back at least 4,000 years to the Shennong Period. Tea drinking inspired the creation of several poetry by ancient literati and poets, with over 400 poems recorded during the entire Tang Dynasty. Prior to the introduction of Xiao Guan Tea, China's extensive history and enormous tea market had not produced a dominant brand. Xiao Guan Tea was the first brand on the tea market due to its effective marketing, and it earned an astounding 2 billion sales in 2018. Therefore, the analysis of Xiao Guan Tea's marketing approach is of tremendous academic importance. This paper utilizes a literature analysis and questionnaire survey to assess the marketing success of Xiao Guan Tea from the consumer's perspective. For readers interested in the consumer psychology of purchasing tea and the marketing techniques of Xiao Guan Tea, this paper includes voluminous information and a few practical analysis methods of marketing strategies. In addition, it gives a framework for analyzing the marketing strategies of enterprises in the same position as Xiao Guan Tea.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230121

    The Initial Explosion of Metaverse Technology’s Impact on Accounting

    Contemporary Metaverse programs all over the world demonstrate an upward trend, opening up a glorious prospect of the development of the digital economy. The meta-universe is achieved through and by using communication and arithmetic power, VR/AR devices, and artificial intelligence technology to virtualize and digitize the real-world process, which also provides a new imagination for the digital transformation of financial accounting. This paper aims to analyze how to transform and upgrade finance because of the principle of blockchain technology through reference and diagram analysis. The results of the research indicate that digital transformation like digitalization and intelligence of finance will be the trend, and the difference between financial accounting departments and sales departments might disappear. On this basis, it can be concluded that the accounting work would not be replaced or overturned, instead, workflow enhancement and a changing of work means occurred under the metaverse.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230122

    Hidden Tax ——Analysis of Premium Level for Sanitary Napkins and Adult Diapers

    As the social attention on women’s dilemma, some unfair regulations have raised a heated discussion, and the ‘pink tax’ which is a hidden tax levied on homogeneous products consumed by women, and most of those products have the same quality and raw material, but higher prices when it is marketed as female-targeted goods. In this paper, unlike the previous researches focusing on pink tax in united industry, it shows the price disparities also exist on conventional women commodity, and mainly investigate the similarity and difference of sanitary napkins and adult diapers. By analyzing the costs of raw material, comprehensive applications and market prices of both kinds of products, calculating and comparing the net profit margins of the two industries, the results confirm the existence of price disparity on these two goods under similar costs, but because of the lack of database and specific cases, further researches are necessary for verification. This work may widen people’s horizon on pink tax, which is not limited on the comparison of opposite genders’ products, but the price bias on feminine goods, and it can promote Economics gender equality.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230123

    A Review of the Influence of Ownership Structure on Capital Structure

    The main content of this paper is the analysis of the influence of ownership structure on capital structure and the summary of some scholars in the past on this aspect of research. This article added some private perspectives and came to the conclusion. Bebchuk, Du and Dai, Nor and Ariffin, Boubaker, Driffield, Friedman, Bany, Boubakri and Montreal have provided significant academic support for this paper, using a variety of regression models and structures to conduct data sampling in different regions and come to quite authoritative conclusions. This article also presents basic information about the subject, such as the purpose of changing the ownership structure and how it works, and an explanation of some of the professional names mentioned in this article.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230124

    Research on Digital Transformation in the Insurance Industry

    In recent years, the global digital economy has flourished, and the industry disruption and opportunities brought by digital technology innovation have made digital transformation a common strategic choice for all countries. If the application of new technologies in the insurance industry in the past mainly focused on the cloudization of the underlying IT infrastructure and the Internetization of the upper layer of insurance sales, the digital transformation of the insurance industry today focuses more on the application of new technologies such as big data, artificial intelligence, and the Internet of Things to promote the innovation of insurance products and the optimization of business processes. Through the analysis of the traditional insurance industry and the different demands brought by different times, this paper intends to explore the way forward for the insurance industry in the era of digital economy, where digital transformation has become an inevitable trend in the development of China's insurance industry.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230125

    Relationship Between Corporate Capital Structure and Company Value — Based on the CAPM and APT model and the WACC analysis

    The core of financial management and investment activities is to maximize the wealth of the company and shareholders. Company value maximization is inseparable from shareholder value maximization. Due to the fact that the structure of company's capital would influence the level of profit return and the circumstance of cash flow, the management for financial framework is a significant connection between the economic situation of the corporation, by which it can benefit the value. The author briefly analyzed the CAPM since it is not an accurate model, which has unrealistic assumptions and the disadvantages of unrest, by using the APT model to replace the CAPM model to study the arbitrage pricing model and its relationship with the capital asset pricing model (CAPM). From the analysis of these models and the introduction of four capital structure theories, the connection between corporation capital structure and corporate value is further studied.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230126

    The Influence of 2022 Beijing Winter Olympics on Sustainable Development of Domestic Sports Economy-Taking Zhangjiakou City as an Example

    With the curtain falling on the Beijing 2022 Winter Olympics, the Winter Olympics cycle has entered the next preparation time. China has completely entered the post-Olympic era, which can be developed according to the corresponding tourism to enhance regional, national economic development. With the strategic development policy to enhance, pay attention to the basic economic development and construction of the subordinate cities, Zhangjiakou City, according to the existing buildings to develop ice and snow tourism, improve the visibility of the city, transformation into a domestic winter tourism city. Through a large number of literature review, as well as image analysis, this paper focuses on how winter Olympic cities develop tourism to enhance their own economic development, and finds out that Zhangjiakou city is suitable for vigorously developing ice and snow tourism, it uses the existing building, makes the profit maximization, plays out the reputation of the winter Olympic city. Similarly, along with the construction of tourism facilities, the development of the tourism industry heralds the transformation of Zhangjiakou into the head of the tourism city. Together with the strong support from the national government, the city of Winter Olympics will be overly transformed into an ice and snow resort, with the total number of visitors breaking records year by year in the coming years.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230127

    The Impact of COVID-19 on Financial Technology Enterprises and Countermeasures -- Taking Ping an Insurance of China as an Example

    Financial technology enterprises are essential and important in promoting economic progress and social development. Financial technology companies have seen their performance decline amid the pandemic, but the epidemic has also accelerated their push to go online. It is of great significance to analyze the impact of COVID-19 on financial technology. This study analyzed the impact of the epidemic on fintech enterprises by the existing literature and practical problems. The study also took Ping An Insurance of China (Ping An), an outstanding financial technology enterprise, as an example to examine the impact of the epidemic on it and its coping strategies. In the study, some suggestions are provided for financial technology companies. After the epidemic, financial technology enterprises need to increase financial need, accelerate the speed of online business and build a sense of social responsibility.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/19/20230128

    Research on Apple’s Financing Method and Its Enlightenment to Multinational Corporations

    In the 21st century, the phenomenon of economic globalization is very common, many companies have begun to enter the global market, transnational business models have become popular, so that complex financing methods have become a topic that every enterprise that wants to enter the international market must study. Many experts and scholars in the world have studied this in depth, but for individual excellent enterprises, it is worthwhile to start from its perspective. This article uses Apple as an example to analyze the company's financing methods and inspiration for the development of other multinational companies in the world. This paper uses the method of case analysis to analyze the unique financing structure of Apple at various stages of development, and draws the following conclusions, first of all, it is necessary to establish a diversified financing model to avoid the shortage of funds caused by single financing. Second, it is necessary to flexibly adjust the financing structure according to the development stage of the enterprise. Finally, it should pay attention to the issue of equity dilution in the external financing process, which may involve the loss of control of the company.

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