Advances in Economics, Management and Political Sciences

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Volume Info.

  • Title

    Proceedings of the 7th International Conference on Economic Management and Green Development

    Conference Date






    978-1-83558-093-6 (Print)

    978-1-83558-094-3 (Online)

    Published Date



    Canh Thien Dang, King's College London


  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231772

    Research on the Influence of Social Media Marketing on Consumers' Purchase Intention——Taking Xiaohongshu as an Example

    With over 300 million registered members, Xiaohongshu, a social media network that mixes e-commerce and content development, has grown to be a crucial marketing tool for small enterprises. By providing visually appealing and educational content, Xiaohongshu enables businesses to build trust and loyalty with their target audience and perhaps affect consumer behavior and purchase intention. This study aims to examine the effect of Xiaohongshu marketing on consumer purchase intention for small enterprises, using the Theory of Planned Behavior (TPB), the Social Influence Theory, and the Technological Acceptance Model (TAM) to provide insights and suggestions. The conclusion of this study is that Xiaohongshu marketing can have a significant impact on consumer behavior for small businesses.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231773

    Analysis of Livable Cities Regarding Housing Affordability, Environmental Quality and Public Transport

    A habitable environment is required for the economy. This necessitates that the economies have the most affordable housing, the highest environmental standards, and the finest public transportation. These parameters must be better defined in the majority of developing economies. However, developed economies have improved housing affordability, environmental quality, and public transportation. The paper illustrates the affordability of accommodation, environmental quality, and public transport in both developed and developing economies through a review of the relevant literature. To achieve this objective, the study investigates the cities based on their success in terms of housing affordability, environmental quality, and public transportation. The significance of the study lies in the fact that it demonstrates that, despite the fact that developed cities possess affordable housing and environmental qualities, they still require refinement to be livable. Moreover, despite the fact that the developing cities of China have the finest public transport in the world, China and India still have room for improvement in this area. This further demonstrates that developed and developing economies should take macroeconomic parameters significantly into account in order to make their cities habitable.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231777

    Application of ARIMA in Mean-Variance Portfolio Optimization

    The stock market often carries investment risks, and portfolio investment can to some extent reduce investment risk, helping investors to achieve certain goal in the financial market. In this paper, stock data from March 15th, 2022, to March 20th, 2023, is collected, and the ARIMA prediction model is ap-plied in the mean-variance framework for constructing optimized portfolios. The results are summarized as follows. First, the data passed the white noise test and was used to conduct ARIMA prediction. The residual sequence of the prediction results is stable, and the model performance is good. Then, the minimum-variance model and the maximum Sharpe ratio model are imple-mented according to the predicted data. Ping An Insurance has the largest weight in the minimum variance model, and Baosteel has the largest weight in the maximum Sharpe ratio model. Overall, the result in this paper provides insightful point for financial investors.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231779

    Financial Analysis and Valuation of Costco

    This essay intends to offer an essential insight of the American retail giant Costco, using its business model, an accounting measurement, performance evaluation, and future estimation to determine whether it is a company worth investing in. The research is significant as it helps investors validate and evaluate their investment decisions in light of the rapid changes in the retail industry and the economic environment. The paper shows that Costco is an ideal company for investors to invest in, as it has a successful business mod-el that focuses on offering high-quality goods at low prices, providing excel-lent customer service, and paying its employees well. The company's ac-counting measurement is also reliable, with its financial statements reflecting its true financial performance. Furthermore, the paper evaluates Costco's performance over the years and finds that the company has consistently achieved strong financial results and has been able to maintain its competi-tive position in the retail industry. Finally, the paper provides a positive fu-ture estimation of Costco's performance based on the company's growth strategies and the anticipated growth in the retail industry. In conclusion, the fundamental analysis of Costco presented in this paper shows that the com-pany is a worthy investment for investors. The research is based on reliable data and analysis, which can be used to support investment decisions in the retail industry.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231781

    Comparative Analysis of Financing Strategy Differences Between Vanke and Merchants Shekou Real Estate Companies

    Contemporarily, China's real estate has been boosted dramatically, attracting many investors to participate. Although the real estate industry experienced a long winter during the three-year epidemic, the rapid recovery of the real estate market began with the liberalization of the epidemic. The overall scale of China's real estate continues to grow, and it has become the largest real estate industry in the world. At the same time, with the rapid development of real estate, many problems also arise spontaneously. This paper mainly uses the method of case analysis to analyze the financing situation of REITS of two real estate enterprises, Vanke and Shekou Merchants. First, the financing motivation of the two companies is analyzed, and second, the project participants, underlying assets, and transaction structure of the two companies are analyzed. Then, the case is further analyzed, including the financing cost, the financial situation of the enterprise, the risk level, and other aspects. Finally, the financing effect of the two companies is analyzed, including the reduction of comprehensive financing cost, the increase of cash flow and the improvement of capital structure, etc.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231783

    Research on the Overseas Operation Strategy of Chinese Platform-A Study Case of TikTok

    The strategic approach of TikTok to achieving continuous expansion in international markets is one of the topical issues of interest in society today, and some researchers have found that the strengths of TikTok in capital operations, localised operations and content production models have had a significant impact on its success. However, there is a lack of a unified explanation of the potential problems behind it and possible responses to it. The aim of this paper is therefore the risks involved in the overseas operations of TikTok and offers suggestions for corresponding strategies. The research methodology of this paper is as follows: firstly, we introduce the current situation of TikTok, the subject of the study, and then we explain the four problems of the cross-border development of TikTok in a logical system of "what - why - how". This paper has found that the trend of homogenisation of content, lack of protection for young people, data security concerns and copyright licensing are the main issues affecting the stable development of TikTok. The research identifies specific issues that TikTok should address and suggests some measures that can be taken.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231784

    Factors Influencing Enterprise ESG Performance

    This paper discusses the factors which influence the environmental, social, and governance performance of enterprises by reviewing previous studies. The article is analyzed from the external and internal environment of enterprises and developed from three dimensions: social institution, policy, and executives’ characteristics. Social institution and policy are external environments, and executives’ characteristic is the internal environment. The factor of social institutions, political institutions, labor institutions, and cultural institutions are discussed. They will be detailed on corruption, unemployment rate, labor protection, social cohesion, and equal opportunities. Unemployment rate and labor protection pose a positive impact on enterprise ESG performance, while high levels of country corruption, social cohesion, and equal opportunities contribute to negative ESG performance. Spanish, French, and Japanese enterprises are listed as an example. Spanish and French firms have similar levels of social and corporate governance performance, while Japanese firms are more committed to environmental issues due to cultural institutional differences. In the factor of policy, the article focuses on the positive influence of China’s environmental regulation on technology innovation in the paper industry. The factor of executives’ characteristics, international background, and diversity, specifically in female proportion, of corporate executives are helpful to enterprise ESG performance. ESG performance is influenced by the external and internal environment of the enterprise. There is a mutual promotion between external and internal environments. This paper analyzing several factors will provide a reference for developing enterprise ESG performance in different countries.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231774

    Research on the Economic Impact of Air Disasters on Airlines

    This research project investigates the impact of uncontrollable factors on companies, which can include natural disasters, political instability, and global pandemics. This paper focuses on the impact of an air crash on airline companies, this uncontrollable factor has significant consequences for the financial, operational, and reputational aspects of airlines, and understanding the impact is crucial for developing effective strategies to mitigate them. The study utilizes a mixed-methods approach, combining quantitative analysis of airline data with a special case study of the air crash that happened on the Eastern Airline, to provide a comprehensive analysis of the topic. The research findings reveal that uncontrollable factors can lead to the loss of reputation, reduced customer demand, and facing operational disruptions. The public's perception of the airline's safety record will be negatively impacted, which can result in a loss of customer trust and loyalty. Following an air crash, people may be hesitant to fly with the airline, resulting in a reduction in demand for their services. The significance of this research lies in its contribution to the understanding of the impact of uncontrollable factors on airlines, especially the impact of an air crash on an airline company. Even in an air crash due to factors beyond human control, people still try to avoid flying or flying with the same company for a period of time after the accident.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231785

    Analysis of Huaxing Yuanchuang M&A Based on PEG and EVA Valuation Model

    In the process of expanding operations, enterprises often encounter bottlenecks in terms of capital, technology, management, and other aspects. In order to tackle these problems, enterprises often choose to issue bonds, go public, mergers and acquisitions, etc. to expand their production and business scope, update management models, and improve their competitiveness. Due to the short introduction of the merger and acquisition mechanism, the analysis and research of mergers and acquisitions by various enterprises are relatively shallow, and the success rate of mergers and acquisitions by Chinese enterprises is low. This study conducts a research and analysis on the first merger and acquisition case on the Science and Technology Innovation Board, i.e., the case of Huaxing Yuanchuang's acquisition of Olyto. Based on PEG and EVA valuation models, it analyzes the motivation and results of Huaxing Yuanchuang's acquisition of Olyto's business behavior. By valuing and comparing the stock price of Huaxing Yuanchuang before and after the merger and acquisition behavior, the conclusion that the merger and acquisition behavior is not successful is drawn. Research has found that under the PEG valuation model, the stock price of Huaxingyuan Chuang after the merger is slightly overvalued, while under the EVA valuation model, the stock price is greatly underestimated.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231786

    Stock Price Prediction: Moving Average and Markov Chain

    Under the assumption that the operation of corporations is stable and the economic environment is steady, there are mathematical rules in the changing of stock prices, making prediction of stock price possible. This paper selects stock price data of Xiaomi Inc, one of the leading technology companies in China, from January 2, 2019 to December 31, 2021 from Yahoo Finance. Three moving average methods, SMA, EMA and MACD, are implemented to analyze the data. Among the three moving average methods, the effect of MACD is better than that of SMA and EMA. Afterwards, Markov chain is employed to calculate from another angle The stable probability distribution of stock price is obtained by using the stability and ergodicity of Markov chain. The feasibility and accuracy of two angles of forecasting methods are verified through being compared.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231787

    Analysis of Different Phenomena in Financial Cycles

    This paper investigates the phenomenon of financial cycles, charting their history from the early modern period to the present. Financial cycles are repeating patterns of credit and investment expansion and recession. It has also had a huge impact on the economic histories of numerous countries. This essay begins by defining financial cycles and offering an outline of some of the important cycles that have happened throughout history, such as the subprime mortgage crisis and the East India Company. The essay then delves into the relationship between credit and financial cycles, suggesting that credit booms can fuel economic expansion and asset bubbles while simultaneously causing social instability and catastrophes. The paper also explores the influence of financial cycles on different countries, concentrating on the experiences of 18th-century Europe, as well as the United States and China in recent years. The article illustrates via these case studies that financial cycles may have deep and long-lasting consequences on economies and that understanding their dynamics is critical for policymakers and investors alike.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231788

    Fast but Slow: Analysis of Fast Fashion Development Path from the Consumer Perspective

    In recent years, the fast fashion industry as a whole has been on a downward trend. In China, although the fast fashion industry occupies a large market share, the consumption behavior of the main consumers of the fast fashion industry is changing because of the transformation of consumer perceptions and the rise of the Internet and e-commerce. And this will subconsciously affect the sales of fast fashion brands. Therefore, it is important to explore the sustainable development path of the fast fashion industry and new marketing models for the future development of this industry. This essay examines the benefits and drawbacks of this business model from the perspective of the fast fashion industry's present state of development. This article also analyzes the key consumers of the fast fashion industry's products today and the effects of the industry on its customers. By listing the established marketing strategies of the fast fashion industry, the future direction of the industry's development is extended and analyzed.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231789

    Microsoft's Acquisition of Activision Blizzard: SWOT and Prospect Analysis

    In this era of raging pandemic, a growing number of people pay attention to games. A stunning piece of news has just been released, causing a shockwave in the gaming community. The acquisition of Activision Blizzard by Microsoft is expected to be completed in fiscal year 2023, as announced by Microsoft. As a console game player, it made a decision to conduct a thorough SWOT analysis of the acquisition's effects from eight different perspectives, with a particular focus on its impact on the development of the Metaverse. This report discusses Microsoft's proposed accession of Activision Blizzard, including some implicit impacts on being product requests, labour requests and on product requests that don't presently live but may develop in the future. For this acquisition, the industry generally believes that both Microsoft and Activision Blizzard are poised to benefit mutually, resulting in a win-win situation, and this report show the potential for the internet industry and VR technology to replace many aspects of people's lives, and how Microsoft's acquisition of Activision Blizzard could help to create new social trends while facing challenges such as aligning production models, managing IP exclusivity, and maintaining their competitive advantage and corporate culture. Therefore, it is advisable to give greater attention to this acquisition and consider making prudent investments of free time.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231790

    The Financial Turmoil Caused by the Fed's Sharp Rate Hike: Reasons, Impacts and Countermeasures

    Facing inflation that is gradually getting out of control, the Federal Reserve will start to raise interest rates sharply in 2022. The process of raising interest rates is historic, and the impact is also global. For the financial market in the United States, the stock market is negative, and the bond market is on the rise. Not only in the United States, but the Bank of England has also issued several documents to raise the interest rate of the pound. This article mainly analyzes the impact of China's current round of interest rate hikes and the corresponding monetary policy measures adopted to stabilize China's financial and national economic markets, and hopes that China's RMB can increase its international influence and continue to strengthen the international market after the Covid-19 pandemic is unblocked. To increase the international influence of the RMB through trade can increase the number of countries that conduct RMB transactions directly. Fundamentally reduce the impact of dollar changes on the Chinese economy.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231791

    Microsoft's Layout in the Gaming Industry and Metaverse: Starting from Blizzard

    Microsoft became the third-largest gaming company in the world after acquiring Activision Blizzard for $69.7 billion in January 2022, after Sony and Tencent. This article aims to explore the strategic objectives and significance of Microsoft's acquisition of Activision Blizzard and identify its impact on the internet industry. The research finds that Microsoft's primary goal for acquiring Activision Blizzard is to lay a solid foundation for future development in the metaverse and aid in its digital transformation. This acquisition fully demonstrates that the metaverse is the main direction for the future development of the internet industry, and gaming is one of its primary gateways. The article argues that investors and companies should invest more in developing new platforms to aid in the development of the metaverse. Governments should also strengthen their regulatory and risk-prevention efforts in the gaming industry, while consumers should learn more about the protection of their privacy and security in the metaverse.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231792

    Human-based Urban Underground Spaces Future Improvement

    Supercities around the world concentrated on urban underground space (UUS) development and utilization as a solution to urban expansion issues. However, engineering and construction studies are far more prevalent than in other UUS fields. The underground has become an integral part of contemporary urban life, and an increasing number of people will be forced to coexist with it in the foreseeable future. Therefore, human-centered UUS strategies must be strengthened. The paper explores the development of UUS utilization in recent years by comparing Tokyo, Singapore, Boston, and China. It then examines the psychologically influential factors of human-based UUS development and utilization, including physiological needs, security needs, and affection needs, and suggests future UUS development based on the human-based underground space enhancement theory.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231793

    The Analysis of Focusing Illusion and Irrational Behavior in the Field of Consumption

    The focusing illusion is perhaps one of the most important factors for the occurrence of biases in intuitive predictions. This paper investigates the cognitive bias in detail, and exactly how focusing illusion affects an individual’s irrationality in daily life. The study also demonstrates how would focusing illusion affect the selection and purchase of private cars of individuals. To figure out whether focusing illusion occurs and whether it is the major factor affecting customer’s mind and thinking, the paper explores the customer’s consumption behaviors and the seller’s marketing strategies when choosing in between potential available options within the allowance of their ability to purchase. To some extent, the viewpoints of existing researches and this study are basically consistent. Both clearly point out the irrational consumption behavior caused by the focusing illusion. In consider of this, potential theoretical methods are proposed to rectify consumer’s and society’s point of view, avoid the trap and consequences brought by the focusing illusion. These includes solutions such as defocusing and delay in decision-making.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231795

    The Development of Elderly Services: Stylized Facts and Prospect in China

    Population aging has emerged as one of China's major concerns due to the country's ongoing economic development and population increase. In order to predict the future growth of China's aged service industry and to suggest appropriate change-management techniques, this article examines the existing status of China's aging population. First, in this essay, the current situation with China's aging population is examined, including the sharp rise in the proportion of the old and the progression of aging., and the existence of urban-rural aging differences. Secondly, this paper analyzes the causes of population aging and the combined effects of various factors such as aging family knots. Then, the paper discusses how to improve China's elderly service industry and proposes corresponding policy recommendations and changes in wording. Finally, the paper points out that to meet the challenges posed by population aging, and to ensure the senior population's health, longevity, and happiness, a sound aged service system must be established. and aggressively pursue the education and training of elderly service employees to enhance their knowledge, abilities, and employment possibilities for the elderly population's involvement and fulfillment. Aside from that, the government should strengthen cooperation with enterprises and social organizations to improve the elderly service industry.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231775

    Analysis on the Development Strategy of Starbucks' Layout in Third and Fourth Tier Cities in China

    Recent surveys found that the stores of Starbucks are mostly located in first and second tier cities in China and its objective customers are high income earners. However, in its 2025 expansion plan, the main objective of Starbucks is to enter low tier cities in China due to the high consumption potential in those cities. In order to help Starbucks achieve its plan, this paper will use the SWOT model to analysis internal strength and weakness, external opportunities and threats of Starbucks. The paper found that Starbucks has high user viscosity, strong monopoly power and financial capacity. Besides, the economic conditions in low tier cities are also beneficial to Starbucks such as low cost on daily life bringing out higher level of disposable income and increasing demand for coffee. In the contrast, we found that Starbucks has several problems such as inefficient chain of command, cost pressure due to large investment on digital technology and poor product differentiation. What’s worse, there is fierce battle among other brands and undeveloped consumption concept in the low tier cities. According to the analysis above, we suggest that Starbucks should adopt some strategies such as price discrimination strategy, making product differentiation, increasing investment in digitization and new retail, enhancing the brand influence, seeking for new suppliers with lower prices, shutting down underperforming stores and making improvement on quality of product, service and environment.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/36/20231796

    Motivation and Impact of Ctrip's M&A of Qunar: Evidence from SWOT Analysis

    This article is based on the acquisition of Qunar, China's second largest online travel platform, by Ctrip, China's largest online travel platform, in 2015. The SWOT analysis method was used to analyze the main motivations of Ctrip before the merger and the competitive situation after the acquisition. It mainly judges the internal and external impact of Ctrip's acquisition of Qunar to determine whether Ctrip's acquisition is a good decision. The analysis found that the acquisition brought more benefits than risks to Ctrip, both internally and externally, so it can be considered that Ctrip made a very wise decision. This article mainly explains the purpose and strategic significance of Ctrip's M&A decision, and analyzes the impact of Ctrip's M&A on itself and the entire industry from a macro perspective. It not only analyzed the causes and consequences of the entire M&A event, but also analyzed the entire strategic decision of Ctrip from multiple angles. This acquisition is an important case in the competition in the same industry, and provides the management of other enterprises with important experience in governance, decision-making and competition, which is of great reference significance.

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