Advances in Economics, Management and Political Sciences

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Volume Info.

  • Title

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

    Conference Date






    978-1-915371-69-0 (Print)

    978-1-915371-70-6 (Online)

    Published Date



    Javier Cifuentes-Faura, University of Murcia

    Canh Thien Dang, King's College London


  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230657

    Analyst Attention and Investment Efficiency of SMEs: Evidence from the Role of Financial Constraint

    The context of this paper is to explore the impact that financial analysts have had on major companies and the magnitude of that impact based on data from 2011-2019. This paper used a step-by-step approach of making models and analyzing data tables to apply theory and analysis to draw conclusions. It also involves extensive reading and extracting of literature and data sources. The main finding of this paper is that financial analysts do help the success and growth of a business to a great extent. It is one of the essential aspects and elements. It is even more necessary for those companies that have financial constraints. The impact is even greater for small and medium-sized companies than for large companies. Finally, policy advice and investor advice is a very good part of the analyst process for small and medium-sized businesses that have a clear position. It makes the whole business more likely to succeed with fewer detours.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230659

    The Impacts of the Clean Water Act on the U.S. Economy

    The purpose of our study is to delve into how the Clean Water Act influenced the United States economy. We used some secondary research such as results from previous studies, textbooks, relevant news articles, published academic research papers, government legal documents, and statistical databases. By using this solid data which was published on the government legal documents, we can ensure the accuracy of this data. We found the results of the Clean Water Act (CWA) are controversial, and they are two-sided. However, The CWA now looks like a pretty successful act. In 1972 the United States administration enacted the CWA to restrict the discharge of pollutants into waters of the United States and regulation of surface water quality standards [12]. So our research question is how the Clean Water Act influenced the United States economy both beneficial and harmful. Previous studies have shown that the Clean Water Act actually has improved the economy drastically which we will talk about later. But there are some critics who examine the realistic aspect of the huge funds used to support this legislation which could be harmful to the economy.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230661

    Why and How Effective Brand Logo Contributes to Marketing?

    The logo represents the image and philosophy of the company and is also part of the business strategy. In this way, we focus on what is a good brand logo and how to get a ‘Gorgeous’ brand logo. This article explains how a logo should be designed scientifically from different aspects such as visual, psychological and cultural. And at the same time, we mentioned a new but popular concept ‘Brand Visual Assets’, It is also a powerful demonstration of the profound meaning of the logo. In this research, we looked at it from multiple dimensions. For example, two kinds of luxury goods of the same price, why their different logo design brings them different types of consumers? How do we understand the new kind of classic? How does the details of the logo give people psychological hints? What are some detailed designs you didn’t notice? you will get all of these answers in this passage.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230662

    The Application of Value Framing in Communicating CSR

    This paper is aimed to describe the application of value framing in communication CSR. Value framing is the process of connecting an issue to deeply held values. This paper's goal is to outline the method of testing how the framing of CSR messaging, which it has a value-theoretical foundation, affects how consumers perceive the CSR message. With this study, further research into how value-based framing tactics affect consumers' perceptions of CSR messaging could be started. Determine the degree of common ground between businesses and their customers by having a solid understanding of the value-theoretical foundations and values' capacity for explanation in connection to CSR communication. The final aim of co-creating values between businesses and their customers may then be accomplished, as evidenced by research that shows how trustworthiness may be increased, scepticism can be reduced through CSR communication, and so forth.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230664

    The New Transportation Paradigm: The Sharing Economy

    The idea of a new transportation paradigm consisting of shared, multi-passenger vehicles has emerged along with the introduction of partly autonomous automobiles. As such a transformative but untested idea, the amount of existing research regarding this topic is limited. However, there are certainly discussions focused on individual elements of this topic and testing on a small scale: Driverless cars, shared vehicles, multi-passenger travel, etc. From these scattered papers, our team was able to compile the main problems with the current transportation paradigm and the potential benefits of the new sharing paradigm that we are advocating for. In this paper, we addressed four problems with the current paradigm and devised solutions for each problem via the benefits of the new sharing paradigm. Although we were unable to collect tentative data due to technological limitations, we gathered any research we could to simulate a world where the sharing transportation paradigm is adopted at a large scale, demonstrating the efficacy of the new paradigm in solving current pressing issues with a concentration on improving the environment both in cities and in general.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230669

    The Relationship Between the Yield and the Degree of Overlap of Snowball and Its Underlying

    The purpose of this paper is to investigate the yield and the degree of overlap of Snowball and its underlying asset, especially under the volatile financial market in recent China. China’s snowball product market has grown rapidly since 2018 and the outstanding size of such product is around 150 billion yuan in 2022. In this report, structure of Snowball product is divided into four typical situations, which are briefly introduced through a hypothetical case. In addition, this report reviews the historical data of the CSI 500 Index and digs into the trends of the stock market in China, hoping to find supporting evidence for the relationships between the yield and the degree of overlap, followed by the comparison of the yields of direct invest in CSI 500 Index and invest in Snowball products in different market conditions. The discussion of the returns and degree of overlap for different investment choices is limited; therefore, some possible suggestions and solutions are provided for market participants.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230670

    Behavioral Economics: The Decoy Effect

    Behavioral economics blends psychology and economics to determine how psychological triggers or nudges influence people's decision-making. The decoy effect has been a particular focus of study in the behavioral economics literature. The decoy effect is seen as an effective "Nudge" and is widely used by businesses. For example, magazine subscriptions, vacation destination choices, and sales of various products—where there is a choice, there is an arena for nudges. The marketplace is flooded with nudges to influence consumer choice; in everyday consumption, many businesses use the decoy effect to maximize sales of specific products or options to increase revenue. Based on a review of the relevant literature and practical case applications of the decoy effect, this study summarizes articles with similar conclusions which can support each other while also mentioning different views regarding the limitations and disagreements of the decoy effect in behavioral economics. However, in general, the effects carried by decoys are apparent and have been confirmed by a large amount of literature.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230671

    Effective Factors under Stock Market Regimes

    The Chicago Board Options Exchange (CBOE) Volatility Index (VIX) is a measurement of volatility in the stock market, which is closely associated with the return of the risk premium. This paper categorized the monthly log returns of VIX by Gaussian Mixture Models (GMM) and investigates the driving factors of VIX among the Equity Market Volatility (EMV) trackers under different regimes using the elastic net linear regression model. As a result of categorization, two regimes in log returns of VIX are found. Regime 1 with a lower mean covers most of the months, while regime 2 with a higher mean captures the months of extreme log returns. In months of both regimes, the policy-related factor significantly and independently affects VIX. Another factor that largely affects VIX in regime 1 is the macroeconomy and other factors have little impact on VIX in regime 1. Infectious disease, policy, and government related factors are more important in affecting VIX in regime 2.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230673

    The Influence of Endowment Effect on The Online C2C Commodity Market for Chinese International Students

    In the online Consumer to Consumer (C2C) market for commodities, buyers and sellers have a propensity to value a commodity differently, resulting in disparate pricing expectations and a resulting dispute. In addition, it is debatable if the valuation difference still remains when purchasing and selling behavior occurs outside of C2C platforms. This study sought to determine the extent to which the endowment effect affects prices in the online C2C commodities market for overseas Chinese students. Using questionnaires to collect data, this study discovered a price disparity between buyers and sellers of pre-owned commodities. Nonetheless, it has been shown that it is doubtful whether ownership plays a major influence in the outcome, as no participant has stated that ownership is an essential aspect in determining pricing. This research concluded that buyers and sellers have different valuations. However, the extent to which it is purely owing to the endowment effect is debatable. Based on the findings, this study recommended that C2C platforms establish a "bridge" that helps both buyers and sellers better understand the other's perspective.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230674

    Why Did China Design Its Emission Trading System Different than the EU?

    Emission trading systems (ETS) contribute to economic efficiency by facilitating emission reductions where it is cheapest to achieve them. Polluters who would find it costly to reduce their emissions can buy emission allowances from polluters that can abate at lower costs. Through the comparison between the carbon trading market of the EU and China and an overview of each market, including key strategies and market performance, the reasons why China's designed its carbon trading market most suitable for its economy, along with the edges and costs of each market will be analyzed. This study indicates that China's current ETS design is beneficial for its current economic development; however, this design limits technological developments in renewable energy and transformations in economic structure. This will impact China's economic development in the future.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230675

    Performance of Corporate Sustainability Based on ESG Perspective

    Environmental, social and governance (ESG) investing suggests that a company’s financial investments should not only consider economic returns and financial indicators, but also assess the combined environmental, social and wider stakeholder impacts of corporate activities and investment behaviour. Enhancing corporate value is one of the ultimate goals of ESG practice. The purpose of this paper is to examine whether there are sectoral differences in ESG practices across industries and to explore the relationship between corporate sustainability and ESG investments. Three representative ESG rating agencies’ ratings of China's domestic listed enterprises from 2017-2021 were collected, and the top 5% of enterprises (eight in total) were selected as a comprehensive sample to assess their sustainability, and the following conclusions were drawn: (1) there are sectoral differences in ESG investment, with higher ESG ratings in frontier sectors; (2) there is a lag, and there is no short-term correlation between ESG investment and corporate sustainability.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230677

    Research on the Bond Market and its Contributions to Risk Management

    The bond market, a significant component of the financial market, is where bonds are issued and sold. Investors and fund-raisers from throughout society may access low-risk investment and financing instruments from a unified and developed bond market. This paper mainly uses the methods of collecting data and combining them into tables or figures in order to analysis some advantages of bond market. Besides, some strategies that people can apply when facing to various risks that may occur in the process of bond investment are also mentioned below. Through this research, it concludes that investors should use various methods and means to identify risks, and then apply various skills and means to avoid risks, transfer risks, reduce risk losses, and strive to obtain the maximum profit. Basically, the public may have a deeper understanding on bond market and how it works through this article.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230681

    Analysis of the Current Situation, Problems and Countermeasures of China's Petrochemical Industry

    The petrochemical industry is a pillar industry of China's national economy, which is related to people's food, clothing, housing and transportation. At present, China's petrochemical industry is large in scale and developing at a fast pace. However, influenced by epidemics and geopolitics, the petrochemical industry is operating under increased pressure. This paper starts from the current situation of China's petrochemical industry, analyses a series of problems that exist in the development process of China's petrochemical industry, and proposes corresponding solutions. The current industrial structural contradictions in China's petrochemical industry are so prominent that it is difficult to meet the needs of key national construction projects. At the same time, the long-standing problem of industry monopoly is not conducive to fair competition in China's petrochemical market. In addition, the petrochemical industry needs to reverse the inherent prejudice of serious environmental pollution and frequent safety accidents in the minds of the people. Therefore, accelerating the upgrading and optimisation of traditional industries, appropriately deregulating the market, adhering to green and low-carbon development and establishing a sound safety management system can effectively solve the current difficulties faced by China's petrochemical industry.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230684

    Option Pricing and Risk Hedging in the Current Financial Market: A Case for Google

    In the past few decades, financial derivative securities have been developing rapidly around the world, and the issue of options and investment consumption has attracted more and more attention from mathematicians and financiers at home and abroad. In this paper, option pricing models are constructed and calibrated based on the Black Scholes Merton model, binomial tree model, historical data model and Monte Carlo diffusion model. The differences between different option pricing models for options and stock hedging of the same company in a short period of time are discussed and analyzed. In this article, the Monte Carlo model outperforms the traditional Black Scholes Merton model, while the binomial tree model and the historical data model do not perform well. The results of this paper are beneficial for investors to use the optimal model to predict option prices, weaken the aggregate risk, and improve the aggregate return level.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230685

    Analysis of the Current Situation, Problems and Countermeasures of Civil Aviation in China

    After the founding of New China, some external competition and internal policy support led to the rapid development of civil aviation. In the process of development, some problems have also been found and solved. Up to now, China's civil aviation industry has a huge scale and is one of the most important industries in China, with a growth rate far exceeding the international level. However, due to the unstable international situation, airlines are under pressure due to the rise of oil prices and the reduction of passenger traffic, which also exposes many new problems. This paper describes four current problems of civil aviation. The problems are rough management and neglect of industrial structure, monopoly in the aviation oil and material supply sector, which is not conducive to reducing enterprise costs, excessive intervention in enterprise management, which hinders moderate competition in the air transport market, and relatively low economic efficiency of civil aviation. Solutions are also given to each of the above problems, which include industrial structure policy, industrial investment policy, anti-monopoly law and other related policies and legal systems.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230688

    Limits and Adjustment of " Three-grade Training Network " in the Development of Competitive Sports: A Case study of Fencing in X Province

    Through the investigation and analysis of the research, there is a lot of relevant research and application of the competitive sports policy of the "three-grade training network"; however, this policy no longer can meet the development of competitive sports at the current stage. So far, the official still has no clear direction for reform of the current three-grade training network policy, which is the purpose of this research. This research will use the method of the questionnaire survey, case analysis, and literary analysis to summarize, analyze and improve this policy based on the exploration of this policy at home and abroad nations. It is hoped that it can be used in the future development of China's competitive sports to make Chinese competitive sports management more scientific and efficient. At the inaugural meeting of the Tokyo Olympic delegation, Sports Director Gou Zhongwen expressed the downward trend in competitive sports. In recent years, the overall direction of the development of competitive sports in China is mainly manifested in the continuous decline of the level. In particular, the downward trend of collective projects represented by football is more pronounced. This paper primarily aims at the problem of the decline of the domestic competitive sports level and analyzes the successful cases and management models of other countries in the world, which are represented in recent years, and seeks reference.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230689

    How to Shape the Market Resilience of Real Estate under the Public Crisis——Take Zhuhai's Real Estate Adjustment to Covid-19 as an Example

    In 2019, COVID-19 broke out in China and gradually formed a huge epidemic worldwide. It still has a great influence and has affected all aspects of people's lives. This study mainly researched how the market resilience of real estate was shaped under the public crisis. Taking Zhuhai real estate adjustment in the epidemic as an example, this research preparing to find the development ideas of the real estate industry under the normal management of covid-19. This research is mainly based on the commissioning of the real estate market in Zhuhai, analyzes the real estate cases in Zhuhai and further analyzes the deficiencies in the real estate policy in Zhuhai from different directions, and finally gives suggestions for the resilience of the real estate market. Analyze the public management ideas of the Zhuhai case, discuss how the local government can scientifically and effectively guide enterprises to implement policies, give recommendations for the future real estate market, and enhance the resilience of the real estate market while safeguarding its balanced development in the post-epidemic era.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230690

    Research on the Construction of the Operation Model of Elderly Institutions Under the PPP Model and its Risks - a Case Study of Qingdao City

    At present, the elderly problem in China has become a more serious social problem, and the low service level of elderly institutions and the insufficient number of nursing homes further aggravate the elderly risk. the establishment of PPP model elderly institutions can not only effectively relieve the financial and operational pressure of the government and help solve the social elderly problem, but also attract social capital to form corresponding cooperation with the government to achieve maximum benefits. However, at present, the number of PPP-model elderly institutions in China is insufficient, and they have not formed large-scale operations, and the elderly institutions are still mainly private institu-tions. At the same time, PPP projects also have greater risks in the operation of this model due to its complexity. To explore the operation and construction and risk factors of PPP model senior care institutions, this paper takes Qingdao city as an example, analyzes the above issues related to the current policy, social environment, and the specific situation of Qingdao city in China, and thus puts forward relevant suggestions.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230691

    Analysis of Tesla's Financial Status and Investment Advice, a Comparative Analysis of Toyota, BYD, and TESLA

    At this stage, the automotive field has ushered in a new market, new-energy vehicles. To a certain extent, the carbon emissions of petrol vehicles have contributed to the environmental problem of global warming. Therefore, people are paying more and more attention to electric cars, and their willingness to purchase is also significantly improved. This paper will focus on the SWOT analysis of Tesla, a representative electric car company, analyze its financial status in the past five years and deeply explore the advantages of Tesla compared with other electric car companies and traditional oil car companies, to provide investors with reference data. The analysis found that Tesla currently has more advantages than disadvantages. Compared with the current opportunities, the company should pay attention to more threats it may face in the future. From the perspective of profitability, operating ability, solvency and investment ability, Tesla's trend in the past five years is very impressive. Compared with Toyota in the stable stage and BYD in the early stage of development, Tesla's current financial situation has more room for development and has always maintained substantial growth. But in the next period, it will inevitably face a variety of market competition.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/13/20230693

    The Comparative Analysis of the Influence of Shanghai Composite Index and Shenzhen Component Index on stock return of Contemporary Amperex Technology Co. Limited (CATL)

    CATL has been a popular choice among all the stocks in China’s stock market and has been recognized by many investment institutions as a good choice for long-term holding. However, its stock return always varies in Shanghai Composite Index and Shenzhen Component Index and no previous research has been done in terms of this area. Thus, to figure out the influence each market does on CATL’s stock, this research applied Capital Asset Pricing Model (CAPM) as the quantitative calculation method and made a linear regression to calculate the difference in return by analyzing the P-value, coefficients (β) and intercepts (α). The findings indicate that CATL’s stock price is more highly valued by the Shenzhen Component Index while Shanghai Stock Exchange has a more significant influence on CATL’s stock. In addition, the effectiveness of the CAPM model in stock valuation is further verified through the comparative analysis.

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