Advances in Economics, Management and Political Sciences

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Volume Info.

  • Title

    Proceedings of the 3rd International Conference on Business and Policy Studies

    Conference Date






    978-1-83558-373-9 (Print)

    978-1-83558-374-6 (Online)

    Published Date



    Arman Eshraghi, Cardiff Business School


  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241873

    Explore the Impact of Sustainable Development Strategies on Green Employment

    This multiple case analyses show that sustainable development policies in both China and European countries can greatly impact the green labor market. In China, the sustainable development polices greatly impact its forestry, renewable energy, and infrastructure sector. The demand of green jobs keeps increasing from 2005 to 2020.However, the green transition process per se is painful for small coal factories and employees from carbon intensive industries. In the EU-25 area, the number of green jobs also keep increasing. Unlike China, the most environmentally polluting industries release more than 90% of carbon dioxide and greenhouse gases but only generate a small fraction of jobs (14%) in the labor market. By the end of 2030, the number of green jobs will increase up to 12 million in European countries.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241756

    Investigating the Relationship Between Unemployment Rate and Alaska’s Unique Universal Basic Income

    The distribution of the Alaska Permanent Fund Dividend (PFD) has existed for over four decades. Similar to a universal basic income PFD entitles each Alaska resident to an equitable portion of an annual government allocation. This paper examines how Alaska’s Permanent Fund Dividend impacted Alaska’s unemployment rate before and during the pandemic. It also evaluates the merits of a universal basic income before and during a pandemic. This paper demonstrates a positive association between the unemployment rate and the distribution of the Alaska Permanent Fund Dividend. As unemployment rates increase, the dependence on the additional income offered by the Alaska Permanent Fund Dividend or Universal Basic Income becomes increasingly evident. In other words, the PFD is designed to distribute the state's resource wealth among its residents and appears to function as a stabilizing influence during economic downturns. It serves as a financial safety net for individuals experiencing job losses, potentially alleviating financial strain on both individuals and families, and mitigating the adverse effects linked to elevated unemployment rates.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241880

    Research on Human Resource Management in Improving Supply Chain Efficiency

    The supply chain, being an intricate network comprising numerous connections and resources, requires the coordination of multiple aspects to guarantee its seamless operation. The involvement of human resources is crucial in this process and has a beneficial influence on the efficiency of the supply chain. Recruiting and training people who possess the necessary skills and expertise is essential for maintaining the efficient functioning of the supply chain. Additionally, effective risk management and resilience are crucial for addressing diverse challenges and potential hazards within the supply chain. This paper employs a theoretical research method mixed with the analysis of actual instances. Its aim is to offer practical counsel to organizations and provide sound recommendations for decision-making in the supply chain industry.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241881

    Research on the Development of the Size and Structure of Government Financial Outlay in China

    As an important component of government allocation, fiscal outlay not only serves as the financial foundation for maintaining government functions but also provides a comprehensive overview of the scope and content of government activities in a market economy. This article analyzes the dimensions and structure of China's government fiscal outlay by reviewing existing literature and research data. It has been observed that the overall fiscal outlay by different tiers of government in China has witnessed a consistent rise over the years, with particular emphasis on the substantial fiscal deficit rates at the local level. This phenomenon has subsequently resulted in a persistent deterioration of the fiscal imbalance. There are also numerous problems in China's fiscal outlay structure, which lags behind developed countries and needs constant optimization. In response to these fiscal issues, this article proposes measures to alleviate fiscal outlay pressure, such as further increasing fiscal system reform, appropriately adjusting the tax system, strengthening supervision of fiscal outlay, and rationally optimizing fiscal outlay structure, taking into account China's actual situation.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241895

    The Sharing Economy: Analyses and Perspectives from an Economic Perspective

    As an emerging economic model, the sharing economy has developed rapidly over the past decade, revolutionising and upgrading the way people consume goods and services. This model connects idle resources with the da roside through a technological platform, effectively improving the efficiency of resource utilisation, while also challenging the traditional market operation model. The direct impact of the sharing economy on the structure of the economy and the transformation of consumer attitudes as well as lifestyles it embodies have attracted widespread discussion and attention. This study aims to analyse in depth the nature of the sharing economy, its operating mechanism and its impact on traditional economic theory and practice from the perspective of economics, with a view to providing a comprehensive understanding and evaluation of the phenomenon.This paper adopts the methods of literature review, case analysis and comparative study to explore in depth the economic principles and practical applications of the sharing economy. The study first reviews the development history of the sharing economy and clarifies its concepts and characteristics, then analyses its impact on economic theory and market operation, and finally explores the various challenges and coping strategies in the face of the rapid development of the sharing economy. Through this research, the paper aims to provide a comprehensive analysis of the sharing economy phenomenon, offering insights and recommendations for policy makers, market participants, and academics.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241788

    Can the Opening of High Speed Rail Boost Corporate ESG? - Empirical Evidence from China

    ESG provides quantitative indicators of corporate sustainable development, which is currently an important reference basis for evaluating the development of enterprises in various countries. However, fewer scholars have studied corporate ESG performance based on the perspective of high-speed railway opening. Therefore, this paper takes China, where high-speed rail is developing rapidly, as the study area, and uses the relevant data of Chinese listed companies from 2010 to 2021 to study the relationship between high-speed rail opening and corporate ESG performance. We find that (1) the opening of high-speed rail will enhance firms' ESG performance. (2) Firms with higher external attention have better ESG performance. (3) Financing constraints play a moderating role.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241793

    Research on Burden of Proof in Multinational Corporation Corruption Related to China

    At present, the world economy is interconnected, and multinational corporation are developing rapidly. In line with the development trend of the world, China has continued to deepen its opening-up policy and attracted major multinational companies to enter the country. However, in addition to active foreign investment, it is accompanied by increasing corruption in multinational corporations. In recent years, China has also paid attention to the legislation and judiciary to prevent corruption, but there are still many problems in practice. Among all issues, the burden of proof is one of the most vital one, which profoundly affects the process and efficiency of the trial, but it has been unresolved, triggering heated discussions among scholars at home and abroad. The distribution of the burden of proof in the judicial process of anti-corruption presents two main issues: the excessive burden of proof of the plaintiff and the unclear jurisdiction of corruption in China. Then proposes to solve the above problems by appropriately introducing the inversion and transfer of the burden of proof and the case diversion before trial are put out. By further improving the evidence chain, it is committed to promoting the further advancement of China's anti-transnational-corruption cause.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241795

    Research on the Optimal Strategy of Investment Portfolio Based on Markowitz Model

    Nowadays, investment is becoming increasingly common. Under the globalization of the economy, investors are given more investment opportunities and choices. Investors need to select excellent assets and allocate the selected asset portfolio on weight during the investment process. The mean-variance model proposed by Markowitz plays an important guiding role in investment and risk management. This model can effectively evaluate investors’ portfolio risk and return decisions and significantly impact their decision-making choices. This study uses the data of the annual average return and variance from 11 risky assets and 1 risk-free asset in about 20 years to construct an investment portfolio in a fixed group based on the Markowitz Model. The study calculates the changes in the allocation of the maximum Sharpe ratio and the minimum variance portfolios under three different constraints and one condition with the addition of risk-free assets, respectively, and then analyzes changes in the outcome of data. The capital allocation lines are introduced to analyze the outcome of an investment portfolio with risk-free assets. Compared with the changes from three constraints, reasons are explained why these changes happen under three constraints. Then, the above limitations are taken as a premise, and the study proposes recommendations for the optimal investment portfolio selection for different investors according to the investment cycle, the preference of investors based on the situation of different investors, and market constraints. The study guides investors’ future investment decisions.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241804

    Take JD as an Example to Discuss the Impact of Digital Intelligence on Supply Chain Risk Management

    The complex and changeable global economic situation forces supply chain enterprises to strengthen risk management to deal with all kinds of emergencies. In the existing research, the impact of supply chain risk is still lack of in-depth exploration. From the perspective of intelligent transformation of enterprises, this paper takes JD as an example to analyze the problems existing in the risk management of the three supply chains of commodities, logistics, and finance, and then puts forward the corresponding solutions to the different problems in the three supply chains. This paper analyzes that the transformation of enterprise number intelligence can improve the efficiency of supply chain coordination and improve its risk management ability by establishing a shared information platform, but the imperfection of technology and the immaturity of technology application will also bring more unprecedented risks to enterprises.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241572

    The Significance of Portfolio Management in Investment and Financial Decisions

    This article mainly focuses on the role and significance of portfolio management in investment finance decision-making, first of all, portfolio management is a combination of different assets according to all aspects of the data, choose the optimal combination and investment, mainly for the control of risk and rate of return, and investment finance decisions are often directly linked to the rate of return, and at the same time pay close attention to the minimization of risk, and portfolio management Can do to minimize the risk and maximize the return, finally, through the results of the study shows that the portfolio management of the two roles of risk and return for investment management has an irreplaceable, unique role, and portfolio management for the financial market, is conducive to the rational allocation of assets, the orderly operation of the financial market, to fully protect the rights and interests of investors, through the realization of the risk and return of the reasonable allocation to meet the financial market. Reasonable allocation to meet the financial market and investors to face unexpected situations or the normal operation of the investment conditions. This paper looks at the future role and significance of portfolio management for the financial market.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241581

    Effects of Social Activities on Labor Participation Among Middle-aged and Older Adults in China

    As China's population is aging, encouraging middle-aged and older adults to participate in the labor force is of practical significance in alleviating the problems of declining labor supply and rising social burden brought about by population aging. In previous studies on labor participation of the middle-aged and the elderly, scholars have explored factors affecting labor participation of the middle-aged and the elderly in China based on personal characteristics, family factors, social factors, and other perspectives. However, the impact of social participation, which may take various forms, on labor participation of the elderly has been neglected. This paper empirically explores the impact of social participation on labor participation of middle-aged and older adults using data from the 2018 China Health and Retirement Longitudinal Study (CHARLS). Based on OLS regression analyses, the results show that social participation is negatively associated with the number of hours worked per year, at the same time, helping others increases the labor supply time. This paper further proposes suggestions on how to balance time allocated to social participation and to labor participation as well as how to promote labor participation of the middle-aged and the elderly.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241810

    The Succesful Reasons on Pang Dong Lai Supermarket

    The essay uses Pang Dong Lai Supermarket in Henan Province as an example. First, it describes the basic circumstances of Pang Dong Lai Company. In a competitive market environment, Pang Dong Lai Supermarket continues to develop its business scale and market share by opening more branches in Henan Province and vigorously marching into surrounding provinces and cities. By constantly expanding its business scale, the supermarket is able to better meet consumer demand and improve its market competitiveness. In addition, the effect of service quality and after-sales service on the success of Chinese supermarket chains was investigated in terms of customer happiness, loyalty programs, and retail dynamics. According to the investigation, strong service quality and after-sales service are critical to supermarket performance and can help Pang Dong Lai Supermarket solve its challenges. Furthermore, the article underlines how employee wellbeing affects a company's ability to innovate, as well as the importance of customer service and employee satisfaction in economic success. Overall, service quality and after-sales support have a substantial impact on grocery companies' performance. To operate in a competitive market, supermarket chains must prioritize consumer requirements, enhance staff welfare, establish a positive brand image, and innovate to react to market changes.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241588

    Analysis of the Impact of Population Aging on Inflation

    The essay investigates the impact of population aging on inflation. Inflation is a long-term macroeconomic problem. For a long time, domestic and foreign experts have focused on the economic factors that cause inflation, while ignoring a major ongoing event, namely, population aging. As aging becomes more and more serious, it attracts more and more attention. Aiming at the above problems, this paper adopts the review method to carry out studies on the connection between inflation and population aging, which is divided into three major parts; the first part briefly analyzes the aging population that exists now; the second part describes the process and pattern of inflation; the third part explores the effect of population aging on inflation. It is concluded that the rate of saving will decline as the population ages, weaken the interest rate elasticity of total consumption, and reduce the labor-intensive industries, thus inhibiting the economic development of China.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241592

    A Global Phenomenon and China’s Emerging Role

    This article offers a comprehensive examination of the present and future states of impact investing in China, an emerging domain where financial capital is strategically utilized to address societal and environmental challenges. The study commences with a historical review, outlining the global rise of impact investing and its transition within the Chinese economic framework. It meticulously differentiates between impact investing, Environmental, Social, and Governance (ESG) investing, and venture philanthropy, thereby elucidating their distinct roles and objectives. The paper then delves into the unique characteristics of the Chinese context, focusing on the early stages of the impact investing market, the cultural and legal challenges encountered, and the distinctive roles of family offices and high-net-worth individuals. It emphasizes the increasingly significant role of family offices in the Chinese impact investing arena. Additionally, the article critically assesses the current frameworks and methodologies for evaluating impact investments, discussing their limitations and the complexities involved in quantifying social and environmental impacts. Through policy recommendations, the study advocates for the strengthening of regulatory frameworks, the enhancement of standardization, and the promotion of educational initiatives to cultivate a more robust impact investing ecosystem in China. The paper concludes by recognizing the untapped potential of impact investing in China, suggesting that advancements in legal frameworks, market transparency, and public awareness could significantly propel the sector forward. This research contributes to a deeper understanding of impact investing in China, offering insights and guidelines for policymakers, investors, and scholars interested in the intersection of finance and social good.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241601

    Financial Analysis and Valuation of PepsiCo, Inc.

    As a leading brand in the food and beverage industry, Pepsi possesses strong competitiveness within its sector and remains highly attractive to investors. For novice value investors, the process of identifying undervalued stocks and assets for potential future growth and returns is a crucial consideration. This article aims to offer simplified information and investment strategies to amateur value investors through the utilization of basic value investment analysis. The study primarily examines the key accounting policies of PepsiCo. Subsequently, it gathers financial data from the 2022 annual reports of PepsiCo and its major competitors, namely Coca-Cola, Monster Beverage, and Keurig Dr. Pepper. Financial ratios are calculated and used as the basis for comparative analysis by applying relevant formulas. Additionally, this analysis includes an evaluation of price-earnings ratios, price-earnings growth ratios, and major risk assessments. The findings indicate that despite having sound accounting policies and a reasonable market-to-book ratio, PepsiCo needs to improve in terms of liquidity, solvency, profitability, and other aspects, suggesting that its stock value might be overestimated. Consequently, it is concluded that there may be better investment choices than PepsiCo at present. Existing investors, however, may opt to retain their holdings and await a more favorable market environment.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241602

    An Integrative Review of Portfolio Management

    This paper delves into the evolution of portfolio theories, tracing their development from the seminal work of Markowitz's traditional portfolio theory to the contemporary landscape of modern portfolio management. Emphasizing the relevance for real-world investors, the study scrutinizes the advantages, applications, and limitations of these investment theories. The exploration commences with a comprehensive analysis of return, risk, and various factors integral to portfolio theory. Leveraging qualitative analysis and real-world examples, the paper elucidates the mathematical model underpinning the theory, furnishing investors with a structured investment strategy. The focal points of the paper are the VaR (Value at Risk) model and the beta coefficient. Through an in-depth examination of their mathematical foundations and theoretical underpinnings, the research elucidates the symbiotic relationship between their economic significance and mathematical intricacies. Furthermore, the paper expounds on their collective contribution to the overarching portfolio theory, shedding light on their role as guiding principles for risk-averse investors. By weaving together theoretical frameworks and practical implications, this paper seeks to provide a nuanced understanding of portfolio theories, equipping investors with valuable insights for informed decision-making in the dynamic landscape of financial markets.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241610

    An Empirical Review of Capital Structure Decision-Making

    The capital structure reflects the proportional relationship between a company's debt and equity, indicating the company's ability to repay debt and refinance. The quality of the capital structure determines the company's future profitability and development trend, serving as an indispensable indicator of the company's financial situation. However, with approximately 70 million companies in the global market, their scales and operating conditions vary in stability and growth. Additionally, their financial and asset structures differ significantly and are subject to macroeconomic fluctuations every year. The risk preferences and attitudes of managers and investors in every enterprise are subjective and affect the development plan of the enterprise. Moreover, tax and fiscal policies in different countries and regions also influence the capital strategies of enterprises. Furthermore, after a successful listing, the capital structure of the enterprise undergoes fundamental changes, diversifying the sources of funds and experiencing new changes in operating models, which is beneficial to the future operational planning and financial strength of funds. Nevertheless, not all companies that go public are beneficial to their development, such as Huawei, Heinz Group, Koch Industrial Group, etc., due to changes in capital structure after going public being detrimental to future corporate profits. Hence, the capital structure of enterprises in different countries, regions, or types of scale needs to be tailored to local conditions. Enterprises should analyze specific situations to establish a more reasonable capital structure with the aim of optimizing company operations.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241611

    The Role of Monetary Policy in Global Financial Crisis

    The author of this article conduct an in-depth analysis of several major economic crises from the beginning of 1929 to the present and how the Federal Reserve used monetary policy and discourse to regulate the market during these crises. And how these policies affect the market, and how this makes the U.S. economy prosper. The article will first review the Great Depression of 1929 and explore how the U.S. economy evolved into a financial crisis that year, why the banking industry went bankrupt on a large scale, how these events affected people's lives and the Federal Reserve's response strategy. The author will then analyze the inflation rate, unemployment rate, and spiral inflation during the stagflation period from the 1970s to the 1980s, as well as the Federal Reserve's response measures. The article will also explore the impact of the 2008 financial crisis on financial markets, the real estate market, and ordinary people's lives, as well as the Federal Reserve's response. Finally, the article focuses on the COVID-19 crisis and the rise in inflation it has caused, assessing its impact on the U.S. economy, financial markets, and the Federal Reserve's policy measures. By analyzing these historical events, this article will explore the role of monetary policy, as well as the challenges and strategies of policymakers, providing perspectives for understanding history and predicting future economic challenges.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241827

    Research on the Impact of ESG Performance on Corporate Exports

    The development of a green and low-carbon economy has become a crucial topic in global economic advancement. China's export trade faces a complex international landscape characterized by escalating trade frictions, rising trade protectionism, and a sluggish traditional trade environment in the post-pandemic era. This paper primarily explores the relationship between the ESG performance of Chinese A-share listed companies and their export activities. Initially, it conducts a literature analysis on the impact of ESG performance on corporate exports from the perspectives of environment, social responsibility, and corporate governance. This paper conducts empirical analyses using relevant regression models to test the hypotheses. Furthermore, in examining the transmission pathways of the impact of ESG performance on corporate exports, an intermediate variable regression model is established to analyze the specific roles played by corporate innovation as a mediator. In conclusion, the findings are as follows: (1) Overall ESG performance positively influences corporate exports, indicating that better ESG performance is conducive to enhanced export activities. (2) Enterprises with superior ESG performance can promote exports by improving their innovation capabilities.

  • Open Access | Article 2024-04-17 Doi: 10.54254/2754-1169/75/20241829

    The Impact of Job Referral from Different Social Connections on Initial Wages: Evidence from Chinese Labor Market

    Job referrals are a popular approach to finding a job through social ties. In the Chinese labor market, it is popular to locate jobs through social contacts, which is thought to be a means to earn a higher starting salary. The purpose of this paper was to investigate the disparities in starting salaries across employment found through various social relationships. Based on social network theory, this research added variables to the Mincer-type equation for regression analysis to measure the strength of social relations. The findings of this study, which used data from the China Household Income Project (CHIP 2018), showed that, unlike previous studies that focused on strong ties in the Chinese labor market, jobs found through weak ties have significantly higher starting salaries than jobs found through strong ties, and the difference in starting salaries for jobs found by migrant workers through various social ties is more pronounced. As a result, under the bleak backdrop of the labor market and decreasing economic growth, it was recommended that job seekers, particularly migrant workers, broaden their social circle in order to seek better initial pay.

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