Advances in Economics, Management and Political Sciences

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Volume Info.

  • Title

    Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅱ

    Conference Date




    The aim of ICEMGD is to provide a platform for educators, scholars, managers, and graduate students from different cultural backgrounds to present and discuss research, developments, and innovations in their academic fields. It provides opportunities for the attendees to exchange new ideas and application experiences, establish business or research relations, and look for global partners for future collaborations. 


    978-1-915371-17-1 (Print)

    978-1-915371-18-8 (Online)

    Published Date



    Canh Thien Dang, King's College London

    Javier Cifuentes-Faura, University of Murcia


  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221001

    Research on Mutual Trust Between Customers and Sellers Based on Digital Social Media Platform

    Social media is one of the most advancing and popular media that people have to expose them for everyday life. According to Facebook, there are nearly 10 billion people are using the product from Facebook to send message to them each week. However, with the recent development of the social media, there is an increasing number of problems have arisen, and one of them have to do with the trust and credibility problem. Thus, as the problem has been raised, there is a need to investigate what is the best way to increase the trust of user to the social media platform. This paper is a sorting and summarizing based on the recent research result of the digital marketing platform. The paper mainly focuses on different research method to conduct analysis. The result shows that the most effective way of digital marketers in the social media platform is to apologize directly. The limitation is presented and the future suggestion is given.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221008

    Research on the Impact of New Energy Vehicles on China’s Industrial Policy Innovation

    The subject of China’s new energy vehicle policy implementation analysis was chosen due to the growing importance of switching to renewable energy due to resource depletion, price volatility, and the need to address pressing environmental issues. New energy vehicles are critical for controlling greenhouse gases and atmospheric pollutants, reducing the auto industry’s dependence on oil which makes this subject matter crucial nowadays. Such methods as secondary literature analysis and case study are essential to analyze the processes behind China’s new energy vehicle success. As a result, the current backdrop of environmental and political instability has stimulated the Chinese government to create a range of policymaking initiatives that rely on provincial and central collaboration, cutting switching costs, and socially normalizing new energy vehicle use. The value of this paper is in how it can be utilized as a fundament for other business branches and governments to construct effective initiatives to grow the renewable energy vehicle market.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221010

    The Empirical Study of Digital Inclusive Finance on Rural Green Economy Development

    This article discusses the role that inclusive digital finance plays in rural green development against the backdrop of rural revitalization strategies. The results demonstrated that the growth of the rural green economy has been significantly aided by the digital inclusive finance, and that this impact has significant regional heterogeneity, with the impact on the eastern and western regions being noticeably stronger than that on the central and northeastern regions. This study contributes to the current of empirical research on the connection between rural green construction and inclusive digital finance. Finally, relevant suggestions are put forward to help promote the green growth of agriculture and rural areas and realize the strategy of rural revitalization.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221011

    Research of Customer Satisfaction in Aviation

    There has been a drastic increase in the number of people using air as a transport model across the world. Globalization has triggered rapid increase in the international travel which is offered by various airlines which has resulted to competition. This implies that customer satisfaction is key. The research aimed at establishing customer satisfaction in the aviation industry. Data from cross-sectional data from different airlines. The data is obtained from a Brazilian public dataset. The data has been analyzed using SPSS Software regression analysis, descriptive analysis, extraction method, and using ANOVA. According to the analysis, Age, departure delay, departure and arrival time convenience, ease of online booking, check-in service, online boarding, seat comfort, cleanliness, food and drinks, Inflight WIFI Service, Inflight entertainment, and baggage handling have a positive R which is an indication that they have a positive relationship with the rating.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221016

    Analysis of E-commerce Characteristics of SMEs: Evidence from Scotland

    The development of internet and digital tools has inspired the dramatically increased usage of e-commerce in the past decades. Both small and medium sized enterprises and the economy could benefit from e-commerce adoption. Based on Scottish government survey data in 2021, this study analysed the main features of e-commerce in SMEs and explored factors influencing the level of e-commerce usage. Research variables include size of businesses, business market, sector, business location, use of technologies, and investment in digital. The findings of the study show that: (1) micro-sized enterprises are more favoured in using e-commerce to selling goods or services; (2) though businesses adopting less technologies rely less on e-commerce, they have shown greater inclination in digital investment; (3) business sector and location could affect the choice of SMEs in adopting e-commerce. The findings signal that further research could explore the effects of other variables and COVID-19 on e-commerce usage in SMEs.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221017

    Customer Churn Prediction in the Telecommunication Industry

    Customer churn is essential for telecom fields because it reduces income when a customer switches from one service provider to another. It is important for managers to help them find the factors influencing customer churn so that they can make decisions and optimize services. In this essay, SPSS will be used to analyze the factors that influence customer churn. We use contrastive analysis to find out the factors of the customer churn and use logistic regression to analyze the degree of influence of different factors. The result indicates phone charge, quality and diversity of services have impacts on customer churn.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221018

    The Solution Strategies of Financing Constraint Predicament of Digitalized Empowerment of Micro-, Small and Medium-sized Enterprises

    Micro-, small and medium-sized enterprises (MSMEs) have been an important part of our country's economy for many years. However, their survival and development are always affected by the phenomenon of financing constraints, which has resulted in non-negligible consequences for the development of the national economy. This paper utilizes with a large amount of data and information, and uses the method of induction and deduction to summarize the reasons for the financing constraint phenomenon from three levels, and puts forward corresponding solutions for different levels. The causes of financing constraints are divided into three levels. First, at the micro level, MSMEs cannot meet the expectations of investors and the requirements of mortgage loans. Secondly, at the industry level, due to the relative backwardness of the capital market. Finally, at the national level, local governments have not fundamentally solved the problems of financing difficulty and slow financing for MSMEs. In order to solve the above problems, this paper puts forward three different solutions. At the enterprise level, the enterprise should actively use digital technology to improve its own operating capability and operational compliance; Small and medium-sized banks should use new media and other technologies to strengthen ties with customers and improve service quality and data processing capabilities. At the industry level, big banks should help the small and medium-sized banks to accelerate the digital transformation. At the national level, local governments should provide policies including but not limited to financial support for the digital transformation of MSMEs.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221022

    Research on Compensation Incentive Mechanism of State-Owned Enterprises - A Case Study of Chinese Enterprises

    The sudden change in the global economic situation has brought about changes in internal and external market conditions. In this context, China's state-owned enterprises continue to use the traditional salary management model in the salary system, which has many shortcomings in the degree of market openness, distribution mechanism and supervision, which is not conducive to our economic development. It is very important to establish and improve the salary incentive mechanism of state-owned enterprises. A scientific and perfect incentive mechanism can effectively stimulate the enthusiasm and creativity of employees and play a vital role in the healthy and sustainable development of public enterprises. However, with the progress and development of the times, the traditional wage incentive mechanism has exposed some problems that cannot fully function. To this end, this paper analyzes the problems in the current salary management model of state-owned enterprises and finds that performance-based salary incentives actually reflect the wealth created by employees for their work. The consistency of goals among employees, managers and shareholders. Finally, from the existing problems, measures are proposed to improve the current wage management model of SOEs in order to enhance their economic development.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221024

    Application Research of Portfolio Related Theory--Based on Hong Kong Stock Data

    With the development of the stock market, people have carried out in-depth and comprehensive research on the portfolio theory. This paper aims to verify and analyze the practical application of the relevant theories. By collecting the stock price information of Hong Kong stocks as the target, this paper verifies and discusses basic theories such as tangent portfolio theory, portfolio diversification effect, Markowitz portfolio theory and Sharpe ratio. In the minimum variance portfolio and the tangent portfolio, this paper obtained the weight of each asset under the conditions of assets and without risk-free assets. Finally, the differences in the weights of investment targets in the portfolio are analyzed and discussed. The results show that, first, in the minimum variance portfolio, when considering risk-free assets, only investing in risk-free assets is considered, and when risk-free assets are not considered, assets with lower variance are given higher weights. Second, in a tangent portfolio, regardless of whether risk-free assets are considered, assets with higher Sharpe ratios in the portfolio are given higher weights. This can give some guidance and suggestions for future investment behavior.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221029

    Digital Economy Development and Residents' Income

    The digital economy has become a new engine for high-quality economic development, with a profound impact on economic, social, and residents' welfare. The data from the China Family Panel Studies (CFPS) are used to analyze the function and effects of the digital economy on residents' income growth and income disparity using the "Broadband China" strategic program as a natural experiment. The results of the empirical analysis confirm the role of digital economy development in promoting residents' income; the heterogeneity analysis shows that the positive impact of digital economy development on residents' income is greater for households in developed eastern regions, and non-agricultural households, and households with high years of education. The mechanism analysis shows that enhancing human capital investment and widening social networks through increased spending on education and human gifts, respectively, and increasing income from working outside the home significantly increase residents' income. The results of this study have significant ramifications for the development of the digital economy, steady income growth among inhabitants, and consequently, the closing of the income gap.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221031

    Research on Embedded Technology Import and the Growth of TFP in China's Manufacturing Industry —— Based on the Panel Data from 1992 to 2020

    In the past few decades, the import of embodied technologies, mainly the import of capital goods and intermediate goods, has met the needs of industrial structure upgrading and export expansion. This paper uses the DEA-Malmquist method to measure the total factor productivity and its decomposition value of 26 manufacturing industries in China from 1992 to 2020, and uses a fixed effect model to empirically analyze the impact of embedded technology imports on China's manufacturing total factor productivity. The results show that the import of embedded technology has a positive effect on the total factor productivity of the manufacturing industry and technological advancement, while the impact on technical efficiency is not significant. After classifying the manufacturing industry according to the technical level, it is found that the import of embedded technology significantly improves the total factor productivity of low-tech and medium-tech manufacturing, while the impact on resource-based manufactured goods and high-tech manufactured goods is not significant. Finally, this paper gives policy recommendations based on the empirical results.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221035

    Analysis of factors affecting fertility rate in China

    Fertility is an important factor that determines the trend of population development in China. In recent decades, China’s fertility rate is declining. Nevertheless, the formation mechanism and influence behind it are still lack of unified explanation. Hence, this article researches and analyzes the reasons of the decrease of China’s fertility rate through factor analysis and cluster analysis based on the data collected in the past two decades since 2002. On the basis of this article, the per capita disposable income of residents, the crude divorce rate, the number of divorce registrations, the urban population ratio, and the high school enrollment rate have a prominent relevance with the fertility rate. In addition, the fertility rate alters in the past 20 years in this paper can be divided into three categories: the fertility rate was relatively stable from 2002 to 2011, the fertility rate increased significantly and fluctuated slightly from 2012 to 2015, and the fertility rate decreased rapidly from 2016 to 2021. If the government hopes to maintain a high birth rate, it can achieve this by easing the birth policy and improving the divorce calm down period system.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221038

    The Impact of Digital Economy Development on Residents' Consumption

    In recent years, the digital economy’s development has affected all aspects of society, of which residential consumption is a very important part. Currently, domestic research of the digital economy on consumption is on the rise, but most of the current research is theoretical analysis, lacking empirical results and related impact mechanisms. Based on the data of China Family Panel Studies (CFPS) in 2010 and 2014, this paper uses the "Broadband China" strategy released in 2013 as a natural experiment of the digital economy, and applies the difference-in-difference (DID) method to estimate the digital economy’s impact on the consumption of residents. The study finds that the development of the digital economy has a significant positive effect on residents' consumption, mainly through three paths: social capital, human capital and income effect. The examination of heterogeneity reveals that the central region, urban residents, the middle and high education level, and the middle income group are the main beneficiaries of the digital economy's promotion of consumption, and the further study finds that the digital economy’s impact on residents' consumption is concentrated on subsistence consumption.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221040

    Research on the impact of corporate social responsibility information disclosure and corporate innovation in China

    China started to implement a new system in 2008, asking fractional companies to make public their corporate social responsibility information disclosure. The financial and corporate governance data of Chinese A-share listed businesses from 2007 to 2016 was gathered in order to determine any potential relationships between the mandated corporate social responsibility disclosure system and company patents. According to the two opposite hypotheses of the information hypothesis and reputation hypothesis, the results show that the number of patents of companies surveyed has increased significantly after the implement of the policy of mandatory CSR disclosure. Additionally, after company’s patents are separated into invention type patents and utility models, industrial design (non-invention type) patents, invention type patents significantly increase in comparison. This means that the information hypothesis has been supported more. CSR disclosure can effectively alleviate the information asymmetry existed in the internal of the enterprise, increase shareholders’ confidence, and reduce the problems of corporate financial restrictions. Several robustness tests have proved that the model and conclusions are both steady. This may provide a reference for the government to improve the mandatory disclosure policy further and help improve the capital market development in China.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221046

    Research on Digital Transformation Strategies of Small and Medium-sized Enterprises

    With the global pandemic of COVID-19, cross-border trade has become extremely difficult. A large number of private trading companies in China are facing the crisis of no customers and no orders. The emergence of electronic marketing can effectively relieve this crisis and bring new development areas to trading companies. This article takes the example of QW Company to study how to help troubled small and medium-sized enterprises through electronic marketing. Through research, this article proposed several ways to help trading companies out of problems through electronic trading. Electronic trade will be the development direction of trading companies in the future. The Internet effectively breaks the barriers between countries. Through the Internet, companies can greatly improve the exposure and popularity of brands. In the era of digital economy, the digital transformation of small and medium-sized enterprises is an inevitable trend in the development of the times, which requires enterprises to attach great importance.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221048

    Modern Portfolio Theory: analysis and implication

    The Modern Portfolio Theory (MPT) from quantitative theory explains the correct of the logic of investment which isn’t put all your eggs in one basket. Although this theory is published in 1952, investors are still using this theory nowadays. Therefore, this paper is researching why this theory is enduring, whether it can provide some insights into the behavior of investors, and what shortcomings can be solved by using other derivative theories based on this theory. The most significant observation of this study can be divided into two parts. Firstly, many limitations of MPT can be improved by Goal-based investing and Post-modern portfolio theory. Secondly, this theory can help the investor to choose the optimal portfolio theory depending on their attitude and goal when they chose the portfolio. There is a strong need for a novel approach, especially for concluding extra costs when investors calculate the risk-adjusted returns. After that, this theory is using historical data to calculate the expected data. Those limitations will influence the choice of optimal portfolio theory.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221049

    An Evaluation of the Dividend Discount Model and its Extensions

    The valuation of the stock is one of the most fundamental financial concepts, whereas the Dividend Discount Model is the basis of the stock valuation. The model state that the value of the stock is the sum of the present value of the infinite future dividend. It is, however, impossible for Humans to forecast future dividend accurately. Therefore, the assumption of the future dividend and the extension of the dividend discount model are required. In this paper, the assumption, advantages, and limitations of the general Dividend discount model and its extension, including the Fix dividend discount model, Gordon growth model, Two-stage model, Three-phase model, H-model, Geometric and additive model, and the modified Geometric and additive model, are introduced in this paper, which can be used as a reference for the investors for them to make their financial decision or for the scholars for their researches.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221051

    The Impact of Information Overload on Investment Decisions under the Information Disclosure System of STAR Market

    Due to the rise of the STAR Market, the information disclosure system has become a crucial component of registration, while a growing information overload issue has also emerged. This paper uses an experimental economics approach to investigate how information overload will affect investors in the STAR Market. And besides, this paper introduces investor experience as a moderating variable to analyse whether investor experience has an impact on the mechanism of action between information overload and investor decision making. The results show that in a stock market formed by real data, as the rate of effective information disclosure decreases, investors' returns decline and investors tend to make more rational decisions, with investor experience having less impacts on the moderating effect between the two. In response to this conclusion, this essay provides investors and policymakers with some options for fostering the growth of the STAR Market.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221052

    Research on carbon emissions of production-consumption sectors under the background of "Double Carbon" ——Take Beijing as an example

    With the development of the Green and Low-carbon, Beijing has set a model for other provinces and cities in carbon emissions reduction, and it will help achieve the goal of carbon peaking rapidly. This paper studies various influencing factors of carbon emissions from both production and consumption by improving the Kaya identity. Through analyzing productive and consumptive CO2 emissions of Beijing with LMDI technology, this paper finds that: (1) For the production sectors in Beijing, the total carbon emissions exhibited a downward trend, and the energy intensity factor was the foremost factor to restrain the increase of carbon emissions, while the restraining effects of energy structure factors and industrial structure factors were limited, and the total production promoted emissions to increase significantly. (2) For the living sectors in Beijing, the total carbon emissions first increased and then decreased, and the urban and rural structural factor played a weak inhibitory role in the increase of CO2. The population and energy intensity were significantly promoted the increase of it. Therefore, this paper proposes to continue to adjust the structure of industry and urban, develop clear energy and make full use of energy, so as to realize the "dual-carbon" goal earlier.

  • Open Access | Article 2023-03-21 Doi: 10.54254/2754-1169/4/20221053

    How Influencer Attributes Influence Healthy Behavior Intention

    Since fitness influencer has begun to impose their impact on audience through various media, it raises a question about what attributes may get these influencers more appealing to their audience. To delve into such question, this paper constructed a theory model invovling three-dimension attributes, perceived value and the behavior intention based on S-O-R theory. After conducting analyses such as structural equation model analysis on the collected data from the survey, we are positive that there is a positive relationship between these three concepts. In other words, influencer’s certain attributes does arouse audience intention to follow such a healthy lifestyle through their perceived value.

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