bluuebunny/crossref_metadata_2025 huggingface dataset:
Analysis of Factors Affecting Import and Export of Underdeveloped Regions Based on RBF Neural Network - A Case Study of Guizhou Province
Authors: Mu Hanjing , Zhang Dongjian
Published: March 2023

Guizhou Province, as an inland province of China without borders and seas, has relatively backward economic development, but its economic growth is fast and its development potential is great. Studying its import and export trade is important to improve residents ' income and accelerate internationalization. This paper analyzes and establishes the indicator system of regional import and export influencing factors through literature analysis, and then uses ( radial basis function ) RBF neural network to analyze the influencing factors of import and export in Guizhou Province. Taking the economic data of Guizhou Province from 2001 to 2020 as samples, RBF neural network is used as a tool to analyze the relationship between various influencing factors and total import and export volume. The results show that when the number of hidden layer neurons is 14 or more, the RBF neural network model accuracy is the highest, R2 is 0.7005, and MAPE is 0.0834. Among the first-level indicators affecting import and export, the importance of the regional internal economic level is the highest. Among the second-level indicators, the importance of scientific and technological progress is the highest, followed by GDP.
Signaling Is Only with Good Intent? Think Again! Introduce A Triangle Model of Signaling Through Research on Short Sale Attacks of NASDAQ Listed Chinese Company
Authors: Wei Shijian
Published: March 2023

This template explains and demonstrates how to prepare your camera-ready paper for Trans Tech Publications. The best is to read these instructions and follow the outline of this text. Please make the page settings of your word processor to A4 format (21 x 29,7 cm or 8 x 11 inches); with the margins: bottom 1.5 cm (0.59 in) and top 3 cm (1.18 in), right/left margins must be 2 cm (0.78 in). This template explains and demonstrates how to prepare your camera-ready paper for Trans Tech Publications. The best is to read these instructions and follow the outline of this text. Please make the page settings of your word processor to A4 format (21 x 29,7 cm or 8 x 11 inches); with the margins: bottom 1.5 cm (0.59 in) and top 3 cm (1.18 in), right/left margins must be 2 cm (0. The signaling theory has been developed for many years, and applied to various fields. The fraud scandals of three Chinese companies listed on NASDAQ stock exchange were hereby dissected via case analysis, during which process, short sellers were found to prepare their attack on targeted Chinese companies using atypical signaling. Once the signal of fraud research report generated by short sellers was observed by targeted Chinese companies, the companies would also get engaged in signaling to defend their reputation and fend off short sellers. The stock holders of three public listed Chinese companies were marked as signal receiver by short sellers and three Chinese companies. The contradicting signals of two different signalers collided with each other and degenerated into weaker signals. After analyzing the behaviors of three parties, the signaling theory was considered applicable for those cases, which could also be expanded to the research on more complicated scenarios. More importantly, a triangle time line model was formulated to explain a complicated scenario where two signalers targeted at one receiver with their own signaling. This investigation aims to encourage more signaling theory research that expands the research frontier.
Research on the Influence and Strategy of Cigarette Packages with Health Warnings on Consumer Perceptions and Consumer Demand
Authors: Li Zeye , Yu Haojun , Zhang Yining
Published: March 2023

Nowadays, much more people are threatened by cigarettes. Many people die yearly because of cigarettes, leading to serious economic problems. This problem is very big in China because cigarette packaging is gorgeous. Compared with cigarettes in other countries, some pictures of health warnings will be inserted to guide people to stop smoking. This paper explores cigarette packaging with health warning pictures that affect smokers’ demand for cigarettes and its impact and strategies. Research on people of different ages and study the views of people of different ages on pictures with health warnings and whether they will continue to buy will be made to the people in Guangzhou, Guangdong Province, China. The investigation concluded the impact and strategy of changing packaging on the cigarette economy. It can be concluded that the packaging of cigarettes will have a great impact on smokers, as well as a serious attack on the economy.
The Analysis of Short Videos and Livestreaming Shopping, In the Case of Tiktok
Authors: Li Yuwei
Published: March 2023

Livestreaming shopping and short videos seem completely different features for most people; however, ByteDance perfectly combined these two features into one software named TikTok or Douyin. TikTok benefitted from the Covid-19 pandemic and rapid develop in 154 countries. The paper uses a SWOT analysis to analyze the business strategy of BytaDance in China and all over the world. The authors created a SWOT analysis combines weaknesses, opportunities, strengths, and threats associated with the application of livestreaming shopping and short videos. TikTok already obtained substantive revenue for BytaDance, and livestreaming will become one of the important shopping methods in the future.
Comparison of Financial and Operating Conditions of Companies in The Biomedical Industry Before and after COVID-19
Authors: Xia Mingshan , Zhan Boqian , Zhan Hanchu
Published: March 2023

The outbreak of COVID-19 has brought various influences to the Biological Medicine industries. any biomedical companies have been fighting on the front lines from beginning to end. This essay uses Mingde Biotechnology Company as the classical case to analyze and compare the Biological Medicine industry’s corporate finance and state of operation before and after COVID-19. Through research, Mingde Biotechnology Company experienced a dramatic profit. Therefore, the conclusion is that COVID-19 gives additional benefits to Biological Medicine industries due to the increasing demand for Nucleic acid tests and some other medical supplies. Nevertheless, because of the wane of the pandemic, the demand for the Nucleic acid test which is also the main business of the Biological Medicine industry, so the meaning of the research is to give more ways for this enterprise to continue to gain profits in the post-pandemic era. Companies benefiting from the epidemic should take advantage of this opportunity to develop more cutting-edge medical products, realize domestic substitution, and better serve the people.
Using SWOT method to analyze advantages and disadvantages of Renmin University withdrawing overseas university ranking
Authors: Lei Hanyuan
Published: March 2023

Renmin University decided to withdraw world university ranking from 2022, some other Chinese prestigious Universities announced to follow the withdraw decision of Renmin University, this may impact the future development of the University and related stakeholders such as students and faculty in Renmin University, and may impact the future of world University ranking institutes and Chinese University ranking institutes, too. This research applies SWOT method to analyze possible impacts on the involved stakeholers after the decision, and found out the withdraw decision will have positive impact for the University, students and faculty, Chinese University ranking for development in China, however, will bring negative impact for international activities and reputation for the development in International educational environment, consider Renmin University is one of the best University in China to provide elite graduates for Chinese Government and organizations, the benefit could be considered more than damages for University development in China. The purpose of this research is to provide more references to other Chines Universities who is going to follow the withdraw trend and more references to other researchers.
The Enterprise Value Investment under Covid-19 - Zoom as An Example
Authors: Li Yanxiao
Published: March 2023

It is no doubt that COVID-19 negatively influenced the economy around the world, but some companies were still benefiting from this economic disaster. Analyzing good operative companies during the pandemic will help people to better identify the capabilities of companies, and also assists to make more appropriate investment choices. Therefore, this essay selects Zoom as an example, which performed outstandingly in the cloud communications industry over COVID-19. Aiming to present comprehensive information and clearly evaluate the performance of Zoom, this paper will primarily analyze it using qualitative and quantitative methods. On the one hand, use the SWOT model to assess its internal resources and external environment. On the other hand, measure profitability and solvency through financial indicators, while utilizing stock indicators to have a valuation of Zoom. Based on all the analysis, it is worth recognizing that the strategy of Zoom is mainly growth-oriented. The strategy of insisting on developing product diversity with a customer focus will help the future growth of Zoom, but the pressure from the drawbacks of Zoom software and fierce competition can not be ignored and requires Zoom to handle them quickly. Besides, even though the stock index reflects Zoom is undervalued, Zoom also maintains strong profitability and solvency. Given that, it can be concluded that Zoom still has relatively good investment value during COVID-19, but the specific investment should be judged based on the subsequent development of Zoom.
Enterprise decision analysis based on SWOT model under the new Coronavirus environment in 2019
Authors: Mo Yuqian
Published: March 2023

In the past three years, the epidemic has swept the world, profoundly affecting the politics, economy and culture of various countries, and the impact on the economy is the heaviest. However, in the era of rapid economic decline, there are still enterprises in all walks of life that can move forward in adversity. During the epidemic period, through their unparalleled superior decision-making, they changed the market playing method, complied with the changes of the times, accurately found their own market positioning, and prepared to face the coming threats and seize the opportunities of the times in a period of great changes in politics, economy, society and science and technology. Based on the SWOT analysis model, this paper analyzes the decisions made by Alibaba and Xibei under the environment of 2019 covid-19, and draws a conclusion that is beneficial to the future business. The study found that when the market environment changes rapidly, we should be keenly aware of the opportunities according to our own existing situation, and seize the opportunities through decisive decision-making, and we must be quick, because the changes in the market environment also give other enterprises opportunities.
Using the SWOT Model and Multiple Enterprise Valuation Method to Explore the Influencing Factors Behind the High Valuation of Toyota
Authors: An Qiutong
Published: March 2023

Toyota is the world's largest car manufacturer. It has a chain of companies that provides inputs and services to manufacturing, distribution, and sales. Toyota sells 8 of the world's 10 best-selling cars and it holds a 14% share in the US, its biggest market. By analyzing from swot model, the Toyota Motor Corporation has a high level of brand recognition and market share in more than 170 countries. Additionally, Toyota needs to manufacture more efficient vehicles in order to avoid frequent recalls; it is an expert in the high-end car market but should introduce more cost-efficient/fuel-efficient choices. assess its market value using the approach. Through a multiple-method valuation analysis, it can be seen that Toyota is an overvalued company: it uses cost and pricing strategies that have some instructive value but are still threatened by several challenges in the future auto industry. Therefore, to maximize profits and ensure sustainable growth, Toyota should leverage opportunities in global markets to strengthen production while capturing strategic value chain essentials. A key factor is developing an information technology strategy for the supply chain to reduce operating costs, improve profitability and better respond to future trends in the automotive industry.
Analysis of the Development Strategies of McDonald’s
Authors: Chen Siwei , Jiang Jinhao
Published: March 2023

Fast-food chain industry in China has been thriving for the last thirty years, with an acceleration of urbanization and changes in consumers’ willingness to eat outside. It is foreseeable that the future market of the fast-food chain industry is going to be more competitive and fiercer, and how companies develop in the such environment by developing reasonable market and management strategies is vital. In this case, McDonald’s is a good example to be referred to. This passage analyses McDonald’s performance with its competitors adopting different financial metrics, including revenue streams, profit margins, and P/E ratios. SWOT Analysis is as well adopted to analyze how Mcdonald’s is able to fully take advantage of its strengths and seize the opportunities to solve weaknesses and decrease threats. In addition, after CITIC and CITIC Capital have taken up a total controlling stake of 52% in Mcdonald’s (China), a new round of reform in development strategies has begun. This passage argues that Mcdonald’s (China) updated its localization strategies and plans of expansion, including innovating its products and advertisements strategies, along with the development of digital order and payment methods to attract more young consumers. It is concluded that, with a high marginal rate of 82% for franchise stores, McDonald’s (China) plans to expand in third and fourth-tier cities and sink markets of China to boost revenues when the first-tier cities have reached saturation, accompanied by Green Development to fulfill its ESG goals and maintain sustainable development.
Analysis and Valuation of McDonald’s— Multiple Valuation Method of P/E Ratio and EV/EBITDA Ratio
Authors: Liu Yue
Published: March 2023

With the improvement of society and economy, fast-food chains have become an important part of the catering industry. In addition, McDonald's has a significant market share in the fast-food chain industry. This paper starts with the analysis of the company itself, including operational and investment strategy analysis and financial analysis. The author also conducts the market and competitors’ analysis. According to the price-to-earnings valuation model and enterprise value multiple valuation model, this paper will evaluate McDonald's in combination with its actual situation. Based on the analysis, the author believes that McDonald’s is fairly valued. McDonald's has the high quality of profit. Besides, its dividend proportion is high, and the return is stable. McDonald's can be regarded as a stable and long-term investment project for investors. At the same time, investors need to pay attention to factors such as the epidemic and geopolitics. This paper uses the latest financial data and market data to value McDonald's, and provides effective investment advice to investors based on the global development situation.
McDonald’s Valuation through Financial Ratios for Decision Making by Chinese Investors
Authors: Chen Dianhan
Published: March 2023

The use of financial statements and ratios has been noted to be essential in the determination of the position of a company in the market. While McDonald’s is sitting in the global space as big incorporation in the catering industry, it is essential for its competitiveness and financial performance to be known. The topic of this research is an analysis of McDonald’s Company valuation based on multiple financial ratios for investors in the Chinese market. From the results, China registered a growth trajectory in the catering industry making them easy for new entries to be realized. While this can be seen as an unattractive market, McDonald’s has been using the situation for its expansion in the country. Further, from its financial strategies and statements, the company has been using better approaches to manage its operations and maintain its status in the market. The significance of this research is that it gives an insight to academe and professionals on how a company can design strategies to influence a new market and attract investors.
The Role of Investment Banking in the Global Financial Crisis: Taking Goldman Sachs as an Example
Authors: Yan Ziyi
Published: March 2023

Being one of the most critical crisis in the economic world, the financial crisis during 2008 has seriously influenced commercial activities on a global level. The impact includes but not limited to individuals, small corporations, and entire enterprises. Experiences from the crisis is valuable since the financial field was severely traumatized during the pandemic. In analyzing the arising phenomenon, the relationship between financial crisis and investment banks are especially worth of addressing, as investment bank is a form of business that is heavily dependent on commercial activities and capital stability. Those commercial activities covers range from stocks to mortgages. Given all the factors mentioned above, this research aims to illustrate the role of investment banking through literature review and critical analysis of data related to financial crisis. In hope of comprehensive insight of the issue, the thesis mainly addresses Goldman Sachs, which is ranked as one of top 5 international investment banks for the last decade.
Airbnb IPO: A Huge Success under Pandemic
Authors: He Zhihang , Li Zhuohua
Published: March 2023

This paper mainly describes the IPO of travel company Airbnb. While the travel industry around the world has been decimated by the coronavirus, with industries large and small either going bankrupt or having their funding disrupted, Airbnb has surprisingly survived. That is the story it is trying to sell to Wall Street in its roadshow. But the question is how did Airbnb survive the pandemic? The dramatic turnaround does not entirely mask its previous struggles with revenue growth. These include two of Airbnb's biggest challenges during the pandemic: a shortage of cash flow and competitive pressure from bookings. The second reason is why Airbnb chose to go public in the middle of the pandemic, and the risks are enormous: employee and shareholder stock maturities, and cash flows are desperately short. It remains to be seen how Airbnb managed to go public in a highly uncertain economic environment like the pandemic, contrary to other big companies that went public during the boom. The third chapter is about the pros and cons of IPO on Airbnb and its influence. Secondly, after the epidemic, what kind of development will Airbnb IPO have in the future, what kind of development, marketing strategy and whether Airbnb IPO is a right choice will be given, which will give favorable suggestions for Airbnb.
Preface: 2022 International Conference on Economics, Mathematical Finance and Risk Management (EMFRM 2022)
Authors: Bennett Randolph , He Yong
Published: March 2023

The 2022 International Conference on Economics, Mathematical Finance and Risk Management (EMFRM 2022) was successfully held online during December 30-31, 2022 in Dubai, United Arab Emirates. EMFRM 2022 aims to bring together innovative scholars and experts in economics, mathematical finance and risk management in a common forum. The main objective of the conference is to promote economics, mathematical finance and risk management and development activities, another objective is to facilitate the exchange of scientific information among researchers, developers, engineers, students and practitioners around the world. The conference will be held annually, making it an ideal platform for people to share views and experiences in these fields.

We are confident that the participants benefited from the theoretical insights, practical knowledge and personal contacts that will help them to build a long-term and sustainable communication among researchers and practitioners in related scientific areas. EMFRM 2022 invited scholars and experts in these fields from various universities to participate in the review and guidance of this conference. The conference focuses on the latest research fields, aims to provide an international cooperation and exchange platform for experts, scholars and business managers to share their research achievements. This collection of proceedings compiles oral and paper presentations submitted by the authors and scrutinized by the special committee.

EMFRM Organizing Committees

Dubai, United Arab Emirates
Analysis of Advantages and Disadvantages of China's Online Trade Development - A Case Study of Pinduoduo
Authors: Huang Zanyu
Published: March 2023

With the continuous development of Internet technology, the e-commerce industry has become more critical in the context of the information age. People are increasingly aware of the comfort and convenience brought by online shopping in their daily lives. From this, various business platforms have also contended, striving to compete for their world in the fierce market. When the e-commerce industry is in full swing, Pinduoduo stands out among many e-commerce platforms as a dark horse, quickly occupying a place in the e-commerce market in a short time. Such success is not accidental. It was after the Pinduoduo team comprehensively inspected the current e-commerce market situation in China and accurately judged various opportunities based on their advantages. This article thoroughly analyzes the basis of Pinduoduo's development, business strategy, the multiple options and challenges it seizes after entering the market, institutional innovation, and model innovation. In addition, taking the other two robust e-commerce platforms, Taobao and JD, as an example, the advantages of traditional e-commerce platforms and bottlenecks in the development period are analyzed. The rise of Pinduoduo has expanded the market size and space of e-commerce, highlighted the development potential of novel business models, and inspired other companies to break through the limitations of their mindset and strive for market-oriented innovation and transformation. In this context, this article takes Pinduoduo as the research object. By analyzing Pinduoduo, a successful case in the Internet enterprise market, we focus on how latecomers can innovate through business models and then come to the top in the fierce market competition. This paper's research conclusions and suggestions have specific practical guiding significance for the future development of e-commerce in China.
Pharmaceutical industry in Long-term Uncertain Market: An Empirical Research Based on Time Series Model
Authors: Zheng Zhiyang
Published: March 2023

The outbreak of covid-19 pandemic has brought a huge tide to the financial market across the globe, due to the fluctuation in the performance of a variety of sectors, it kept vacillating in the investors’ opinions, resulting in a drastic fall in the stock market, but pharmaceutical companies were excluded from the main trend. This paper is going to discuss whether the fluctuation in the medical market will be affected by the covid-19 pandemic and then assume the long-term performance of Chinese pharmaceutical companies under the influence of the pandemic. The main analytical methods that have been applicated are the series model, the order of VAR Model, the ARMA-GARCH Model and impulse and response analysis. Finally, we will draw our conclusion that under that if another sudden outbreak can be prevented, the long-term performance of the medical industries will have minor damage from the pandemic. The study provides investors and leaders in the industry with a front-sight of future market performance. We suggest that the medical industry needs to learn from experience to maintain the rise in performance, and the investors can also put faith in them, believing that the overall performance of the pharmaceutical market will not let them down.
Long-term Changes in Ethereum Prices: A Normalized Pandemic Framework
Authors: Huang Haiye
Published: March 2023

As the pandemic, Covid-19, spreading across the world from 2020, it changes the habits of people. It helped the development of the online movement. Cryptocurrency investment was one of them. Ethereum is one of the most significant blockchain-based platforms and the second largest proportion of the cryptocurrency market. The price of Ethereum was examined from the last 3 years. The result shows that the price of Ethereum increases drastically at the beginning of the pandemic due to different influences of Covid-19. However, it is decreasing as Covid-19 has become a normal illness to handle recently. In summary, Ethereum is in a strong correlation with Covid-19 and still can fluctuate by illness or movement that increases the interaction of people on the internet. In this paper, vector autoregression model and ARMA-GARCHX model was constructed where VAR model helped to find the relationship between the new infections of COVID-19 in China and Overseas and the return rate of Ethereum and ARMA-GARCHX model was applied to analyze the volatility of the return and predict the future return rate. The models suggest that the return rate can be affected if the number of new infections increases in a short period. However, the number of new infections is not significant to the volatility of the return rate of Ethereum.
Analysis of the hedge functions of Bitcoin, Gold, and their Portfolios - Based on global events
Authors: Gao Kelan
Published: March 2023

The global current situation continues to be turbulent. International crises like the Covid-19 epidemic and the continuing Russian-Ukrainian war have thrown the global economy for a loop. As a result, global economic policy uncertainty has spiked due to the resulting spike in energy prices and economic disruptions. During the outbreak of Covid-19, prices of bitcoin (BTC) have moved higher, but its hedging effect is weakening. Also, combined with rising global inflation expectations and the constant rate hikes by central banks against inflation, bitcoin's hedging effectiveness is waning due to its strong correlation with equities. Furthermore, with the outbreak of the Russian-Ukrainian war, the price of gold continued to rise, and the relationship between gold and the global financial market decreased, confirming gold's diversification ability in a crisis. Simultaneously, the link between gold and bitcoin has weakened marginally. Ultimately, preliminary evidence suggests that gold and bitcoin can be used as complements, rather than substitutes, for diversification purposes during a crisis. This article will construct a portfolio about bitcoin and gold, and examine how individual gold and bitcoin and this portfolio performed as hedging assets throughout the Covid-19 pandemic and the Russian-Ukrainian war.
The relationship between rural employment rate and rural development: An analysis based on a bivariate VAR model
Authors: Zhu Ziyi
Published: March 2023

Rural development has been a traditional concern in China. With large rural populations, Communist Party of China focuses on solving the three agriculture-related problems. Currently, the transfer of rural population from country to city leads to an obvious reduction in employment in the primary sector. As a populous country, the agriculture is the foundation of China’s national economy. This paper investigates the relationship between the employment in the primary sector and the total output value index of farming, verifying the effect of labor factor. The econometric investigation based on the bivariate VAR model shows the employment in the primary industry has a dynamic change characteristic to total agricultural production. Further, the relationship changes from negative to positive.
Empirical analysis on construction of mimicking factors and its effect on model adequacy in the Fama-French three-factor model
Authors: Yao Jiajing
Published: March 2023

Since the empirical failure of the CAPM, the Fama-French three-factor model that attempts to address some of its greatest issues has become widely popular. However, the choice of the two “mimicking” factors in the model are based mostly on empirical merit, and their construction is purely arbitrary. This paper investigates whether the model is robust with respect to changes in how the two mimicking factors are constructed, and its model adequacy, using US stocks data over a longer period (including more recent years) from July 1926 to June 2022. The conclusion is that the model is largely robust to an alternative formulation of the two factors, though the model is clearly inadequate particularly when tested using data over the longer period. Model fit is especially poor for portfolios formed by small stocks with low book-to-market equity ratio. Hence, caution needs to be taken when using the model for these stocks, and alternative models need to be sought.
ESG Index Construction and China's ESG System
Authors: Duan Lanyi
Published: March 2023

The Environmental, Social, and Governance (ESG) system has gained popularity recently as concerns over issues like corporate responsibility, labor conditions, and climate change become more pressing. At the same time, investors from around the world have become increasingly interested in the ESG Thematic Index because it offers greater risk resilience and returns than traditional trading strategies. Building a Chinese financial ESG system is crucial to advancing the development of ESG in China since Chinese finance needs to create and enhance its own ESG system but there is still a lack of systematic study in this area. This article first defines the meaning of ESG-themed indices, then selects representative ESG-themed indices from the global market, analyzes the construction processes and methodologies of the indices, and finally makes pertinent recommendations to promote the growth of ESG-themed indices in China using inductive, comparative, and case study methods.
The Impact of the policies: Evidence from Chinese Ecological Agriculture Companies
Authors: Chen Guopeng
Published: March 2023

Since 1982, affected by the national development direction and policies, companies in related agricultural industries have developed rapidly. One of the standards reflecting the company's development - stock price volatility - has specific industry characteristics. Overall, we found that in the event window, except for 2016 and 2017, the cumulative average abnormal returns showed an upward trend. Especially in 2015, 2018, 2019, 2020, and 2021, since the cumulative abnormal returns are insignificant and the test results are efficiency, it almost proves the policy effect not existing on China's stock market no matter the policy is positive or negative.  Finally, through the FAMA five-factor robustness test, we found that the policy effect of ecological agricultural stocks is weak due to the impact of investment factors and profitability, and following previous research, we can conclude that the ecological agricultural stock price is estimated by the investor sentiment and stock valuation. To make a more targeted study on the effects of relevant preferential agricultural policies and national development policies on ecological agriculture, we selected the stock volatility data of 36 listed companies from 2015 to 2021, when the No. 1 central document was released. We used the event study method to use the market model and the FAMA five-factor model to make statistics on the abnormal returns of companies. Compared with the previous research, the heterogeneity of agricultural sub-sectors was obtained by narrowing the sample scope to the ecological agriculture sector in the agricultural sector, and the last policy-related research was further testified.
Marketing Analysis and Strategies of AAPL
Authors: Huang Jialing
Published: March 2023

AAPL is the representative of the Internet companies, which promotes the development of personal electronic devices and the media industry. Although AAPL currently has the largest market share, it faces vast threats and challenges due to the development constraints and continuous rise and growth of other companies. This paper investigates the popularity of the company's various products and AAPL’s future development strategies by comparing the company's product sales and company operation spending details in the second quarter of 2021 and 2022. At the same time, it also presents APPL’s strengths and weaknesses, as well as opportunities that can be utilized and threats to face by analyzing AAPL’s mobile phone market share and existing competitors. AAPL’s strengths are its well-known brand image and huge customer base. However, the high price of its products has led to the loss of customers in the low-end market. Therefore, to expand sales and demand, APPL should develop cheaper products and invest in new product technologies to create new product lines to attract more customers. With this in mind, this study also analyzes the industry's current difficulties and provides strategic advice for future development for technology companies similar to AAPL. These results shed light on guiding further exploration of business and marketing strategies.
Stock price prediction based on CNN model for Apple, Google and Amazon
Authors: Zhang Xiaojian
Published: March 2023

The price movements of stocks directly affect the economic interests of investors as well as influence and reflect the macroeconomic policies of the country. This paper initially describes the CNN model's development and fundamental composition before proposing a method for stock prediction based on the CNN model and using it to analyze data from Apple, Google, and Amazon. According to the analysis, it is indicated that all three businesses stocks will decline going forward, with Apple and Google's decline being greater and Amazon's decline less. In the upcoming months, it's anticipated that stock prices will increase a little bit and swing between $100 and $125 a share. The RNN model was implemented to compare the findings in the end, and both models produced about the same stock forecast trend. These results shed light on guiding further exploration of stock price forecasting in terms of the state-of-art machine learning scenarios.
Bitcoin Return Prediction based on OLS, Random Forest, LightGBM, and LSTM
Authors: Zhu Gaohao
Published: March 2023

Since Bitcoin was proposed in 2008, it has become a very valuable asset and an important part of many investors’ portfolios. It’s important to both understand Bitcoin mechanics and predict its valuation with the help of the state-of-art machine learning tools. The study develops four different models, including Ordinary Least Squares (OLS) regression model, Random Forest, Light Gradient Boosting Machine (LightGBM), and Long Short-Term Memory (LSTM), to predict the return of Bitcoin and compare the performance of these models. According to the analysis, the daily changes in the high, low, close price of Bitcoin, and close price of Tesla stock, and gold price between yesterday and today are all strongly correlated to the Bitcoin return on tomorrow. The statistical approach, or OLS modeling, has the simplest algorithm whereas the highest accuracy rate. The LightGBM model and LSTM model have lower accuracy rates in order, but still exceed the 50% (random benchmark). The Random Forest model, as another type of decision tree algorithm, has similar prediction results with the LightGBM model but a lower accuracy rate that fails to reach the benchmark. Based on the analysis, multiple factors affect the Bitcoin return, and these results provide an insight for investors to the cryptocurrency market and the macroeconomic environment. It validates the effectiveness of several machine learning algorithms in Bitcoin return forecasting and supports future developments in related fields.
The Relationship Between ESG Rating and the Cost of Equity Capital: Evidence from China
Authors: Rao Sunhan
Published: March 2023

With increasing market attention to corporate Environment, Social and Governance (ESG) practice, ESG Score plays an important part in a firm’s stock performance. Through regression analysis, this study aims to find out the relationship between ESG score and a firm’s cost of equity capital. The sample comprises 4365 effective samples covering 1035 Shanghai-Shenzhen A-share enterprises for the period spanning 2015 through 2020. The results show that there is a significant negative correlation between the ESG score and the firm's cost of equity capital. The analysis also shows that the G score in ESG score has the most significant impact on the company's cost of equity capital. For the robustness test, this study replaced the explained variables, lagged the explained variables by one stage and focused on the endogeneity study. The study found that the likelihood of a positive effect on ESG scores was small. The findings of this study provide evidence for previous literature and provide guidance for corporate governance.
Stock Price Prediction of Walmart Based on Combination of SVM and LS-SVM Models
Authors: Yan Chenguang
Published: March 2023

One of the most significant operations in the finance sector is stock trading. The stock market is an essential part in the economy of a country and serves as the indicators of the situation of a country’s economy as the stock prices go up or down. Therefore, stock price prediction, the behavior of attempting to predict the potential worth of a corporation or any financial instruments successfully, will maximize investor’s gain, enhance market’s confidence, and help government policymakers to make economic decisions. In order to forecast the price of a stock, a machine learning approach is constructed in this study. The suggested algorithm includes random forest, support vector machine (SVM), and least square support vector machine (LS-SVM). In particular, the random forest is employed to select the most important features from the technical indicators calculated for stock price prediction. The SVM and the LS-SVM models are employed to predict the daily stock prices. Besides, R-Squared (R²), mean squared error (MSE) and mean absolute error (MAE) are used for model evaluation. According to the results, both SVM and LS-SVM models can predict stock price well, but both algorithms are not suitable for large datasets, and overfitting problem exists. These results shed light on guiding further exploration of stock price predictions.
The Case Analysis of LVMH Moët Hennessy Louis Vuitton
Authors: Li Gang , Xiao Haoxin , Zhu Mingxin
Published: March 2023

As the luxury goods industry secures a prominent position within the global market, the leading conglomerate LVMH Moët Hennessy Louis Vuitton (LVMH)’s pioneering ventures became a matter of communal concern. The following segments seek to provide operational insights into the management framework and strategic planning of LVMH. Based on three distinctive yet intercorrelated perspectives of analysis, the study unpacks the bullish potentials of LVMH, its sufficiency in risk control and profit generation, and the full-scale success of the conglomerate’s strategic planning of mergers and acquisitions. From the perspective of industry analysis, LVMH and other luxury companies focus on local growth and continue to launch new forms of products in line with the times, also maintaining rational and healthy competition is necessary when competing with different companies in the same industry. According to the Financial analysis, LVMH has a relatively low risk and has a good operation ability to generate a steady profit. Through the audacious pursuit of the M&A strategy in consolidating Bulgari in 2011 and Tiffany & Co. in 2021, it managed to triple the size of its Watches & Jewelry business group over the past decade, further boosting its profit margins through the conglomerate's efficacious post-acquisition brand management. The research is dedicated to the growing body of company-based research on luxury brand management, offering reference value for relative companies in the industry.
Factors Impacts on Online Shopping Consumers' Purchasing Decisions: Evidence of Women dresses from Amazon
Authors: Lu Diyang
Published: March 2023

Online reviews have become an important way for consumers to understand product quality and merchant services with the prosperity of online shopping. This paper adopts the method of natural language learning to conduct sentiment analysis on Amazon women's online shopping reviews, then establishes a bag of words model to vectorizes the text. Finally, a prediction model is established based on the Naive Bayes classifier, which predicts consumers' recommendation willingness by analyzing the review text. Through training and testing, the accuracy of the prediction model reaches 0.87, and improved to 0.92 by TF-IDF algorithm. This study analyzes the key influencing factors of women's online shopping which has a high reference value for merchants to improve services in a targeted manner to obtain more consumer recommendations.
Prediction Of Stock Performance in The U.S. Stock Market Based on Logistic Regression Model
Authors: Hong Zhaoyang
Published: March 2023

How to select stocks as investment targets is a hot issue of concern in the investment market. Some researchers have found that the quintile ranking of payout, valuation, profitability, and historical growth in the market can be used as a screening basis to help investors make initial selections. However, the differences in ranking within the same quintile are still obvious, which does not allow for a fine and clear selection. Therefore, in this paper, by collecting the data profile of more than five thousand US stocks from 2015 to 2021 and fitting a logistic model to the data, the author examines price to book ratio, sales growth rate, price to earnings ratio, gross profit to asset ratio, return on equity, dividend yield and earnings per share to predict whether the stocks will outperform in the future, and further derive the result of whether it is worth investing or not under different decision thresholds to help differently risk-averse investors to screen stocks. The results show that for the prediction of whether stocks would “outperform or not”, the final model’s prediction was 71.28 percent accurate. This excellent result shows that this logistic model can be applied to the real market to help general investors and investment institutions to select the right stocks.
The Impact of COVID-19 on the Medical Industry Based on Ratio Analysis
Authors: Chen Yinzhi
Published: March 2023

Financial ratio analysis is widely used in conducting fair comparisons across time and between various businesses or industries from their financial statements. The outbreak of the COVID-19 pandemic affected the performance of most industry by closing off business operations in most economies across the globe. This study investigates the impact of COVID-19 pandemic on the performance of the medical industry based on ratio analysis in terms of three leading pharmaceutical companies (i.e., Pfizer, Moderna, and BioNTech). According to the analysis, the performance of the healthcare sector was poor during the pandemic period, calling for appropriate contingency planning to help prepare the industry appropriately for any similar disruptions in the future. In brief, it is notable that the pandemic had a negative impact on the medical industry. The ratio analysis presents a negative trend in growth of the industry stakeholders during the pandemic period. This is an indication of the negative outlook of the industry. These results shed light on guiding further exploration of investments on medical industry before, during and after the pandemic COVID-19.
The Impact of COVID-19 on Evergrade: A Case Analysis
Authors: Hong Ying , Ma Ziting , Zhu Huiying
Published: March 2023

Due to the impact of the epidemic, the entire Chinese real estate industry is in a downturn, especially the Evergrande Group. Evergrande Group plays a vital role in the real estate industry, and Evergrande's debt crisis has also overwhelmed many real estate developers. This article analyzes the real estate industry, and Evergrande's financial problems and corporate management problems to see the problems that Evergrande has during the epidemic. Although Evergrande Group has made a lot of efforts for transformation during the epidemic, it still cannot make up for its huge loopholes. This can be attributed to its long-term debt, low profitability, prominent financial problems, insufficient cash flow and the adverse impact of its diversification strategy. Under the epidemic, it failed to transform and go bankrupt. According to the analysis, this article reflects and summarizes the reasons for Evergrande Group's failure. These results shed light on guiding other real estate companies and regulatory agencies to avoid mistakes and prepare for sustainable development in the future.
The Development Path for Real Estate of China During the Normalization of the COVID-19
Authors: Sheng Ying
Published: March 2023

The COVID-19 pandemic swept the world in early 2020, which strongly inhibited and severely affected the real estate industry of China. In terms of information retrieving, integrating relevant data and implementation of SWOT and PEST analysis, this paper explores the development path of it in the post-epidemic era. According to the analysis, under the normalization of the pandemic, the market has several strengths and weaknesses. To be specific, strengths (e.g., the removal of the house purchase quota policies and burgeoning demand for housing) and weaknesses (e.g., blocked corporate capital chains and restricted offline sales) are clearly demonstrated. Meanwhile, opportunities and threats are also existed for this market. For instance, opportunities include LPR interest rate cuts and deposit reserve ratio reductions, and threats include uncertain outbreaks of pandemic and changing consuming attitudes of the millennial generation. In order to stabilize the real estate market, the government should keep implementing a series of macro-control and monetary policies. Additionally, real estate companies should change the design of house patterns, focus on the development of green and intelligent housing products, and cater to consumers’ demand for new housing types. Under the premise of regular pandemic prevention and control, companies should also actively create an "online + offline" sales model to reduce the constraints of the pandemic. These results shed light on guiding further exploration of future development direction for the market.
EGUO and Eleme: How Would Time and Other Factors Lead to the Success and Failure
Authors: Li Shiyan
Published: March 2023

After years of development, how will time and other factors contribute to the failures and outcomes of EGUO in 2000 and Eleme in 2009, as representatives of O2O e-commerce? This study examines this question from two aspects. The main findings of this study : from a macro perspective, the economic background of a country is the external conditions for a business that can directly or indirectly influence the success or failure of business operations; the social factors influence general public’s purchasing needs and preference and are the most comprehensive factors that affects the success or failure of business operations; the technological environment of the Internet is the most important technological factor for the success of O2O e-commerce. From a micro perspective, EGUO failed because the macro environment was too poor, which led to high operating costs and eventually led to bankruptcy; Eleme's success was rooted in the development of the times and society, and its business model was built on a deep technological foundation and a large consumer base, which led to Eleme's final success.