bluuebunny/crossref_metadata_2025 huggingface dataset:
Research on the influence of ERKE’s philanthropy behavior on consumers’ purchase intention
Authors: Liu Yupeng
Published: March 2023

A charitable donation is a social activity that companies ignore because it usually increases costs and does not bring additional productivity. Analyzing from the point of view of profit, as rational entrepreneurs, it is normal that they do not donate to society. But those well-known entrepreneurs, such as Bill Gates, regularly donate to specific projects. So why is that? Are they willing to give up their interests to help others? The original purpose of this article was to explore why entrepreneurs donate and how this affects consumer sensibilities. The research question is to instigate how a company’s philanthropic behavior influences consumers’ intention to purchase the company’s goods. The research was supported by research questionnaires posted on social media and data provided through major newspapers and articles. One-on-one interviews were conducted to get the most honest insights from consumers. Finally, to confirm whether consumers are more inclined to buy because of the company’s philanthropic efforts.
Analysis of China’s Electrical Vehicles Market Competition: Taking Tesla and NIO and Xpeng as Examples
Authors: He Tinghai
Published: March 2023

Consumers are increasingly turning to electric vehicles to reduce greenhouse gas emissions and to avoid the rising cost of gas vehicles. The global electric vehicle market is expanding sharply, especially the new electric vehicle market in China. This article presents Tesla, NIO, and Xpeng's market value of equity, the market value of debt, and other data based on their financial reports. This article also compares and analyzes the financial performance of these three companies and makes effective investment recommendations for investors. Investors are advised to invest in Tesla with confidence because the company is anticipated to have steady growth and prosperity in the Chinese electric vehicles market. When Xpeng and NIO are compared, it is clear that NIO has a more steady development trajectory. Investors used to make wise investments will be drawn to it because of its low equity beta. Additionally, it demonstrates that it outperforms Xpeng in terms of corporate management, sales model, and design. On the other hand, Xpeng has not demonstrated enough advantages to draw in investors.
Research on The Lookback Option Pricing of Disney Based on BSM Model
Authors: Liu Yitong , Wang Yuchen , Zhang Yunni
Published: March 2023

The lookback option is a path-dependent option that enables holders to use the most advantageous pricing to execute the underlying asset. This paper adopts the BMS model to price the lookback option and takes risk factors into consideration to calculate the value of an option contract in the BMS model. The main variables in the BMS model are risk-free rate, current spot price, strike price, volatility, and time to maturity. The results are reliable enough for investors to make future decisions. However, the BMS model still has a few drawbacks which can make the prices derived from real future prices. When predicting future prices, using the BMS model can help investors make better decisions. The lookback option allows holders to minimize their regrets and exercise the underlying asset at the most beneficial price.
Current Situation of Online Video Websites: Comparison of Financial Data of Bilibili, Youtube, And Netflix
Authors: Chang Yunzhe
Published: March 2023

In this study, the author first analyzes the market situation of advanced online video websites, and is interested in three important video websites: Bilibili, YouTube, and Netflix. He hopes to explore whether they are worth investing by analyzing the financial data of these three companies. By comparing the data of these three companies, this research shows that the market value of BiliBili's equity and debt is relatively low compared with YouTube and Netflix. YouTube's equity beta is significantly lower than that of BiliBili and Netflix, which indicates that its stock is not very sensitive to market fluctuations. Netflix and WACC have the lowest commercial risk among the three companies. YouTube has the highest expected return on all equity, and BiliBili's business model is the same as YouTube. However, due to China's immature system and relatively strict censorship system, its profitability is still very different from that of Youtube. For investors, Netflix is the company with the most stable returns, while YouTube is the company with the highest returns. Since BiliBili was established late, it still needs time to improve and adjust itself to achieve a more stable business model. Whether it is worth investing requires investors to further observe the changes in the market.
Pricing of Asian Options on Tesla Based on BSM model
Authors: Chen Peng , Yang Bingying , Zeng Xiaotong
Published: March 2023

Due to the interaction of the changes in the world political situation and the influence of the global epidemic, the world economy has entered a period of instability and turmoil. This can be an opportunity for people who would like to make an investment. However, without adequate research and good preparation, they may face huge losses. Therefore, this research shows how to choose a reasonable investment approach for a particular market. To be more specific, the research topic of this paper is to show how Asian put options work well in Tesla Market, and the methods of this study include the BSM model, sensitivity analysis, and making a comparison of the Asian options with the European options. Then, the results could be seen that the Asian options will be a more affordable and less risky investment strategy for the Tesla market which is a market with high volatility. Thus, to invest in a market in the current society, it is better for investors to make a clear understanding of their target income and then make multifaceted research. As a result, the investor could reduce their unnecessary losses.
Productivity Improvement Effect on an OFDI's Parent Company: Exploratory Study in Light of Ownership Heterogeneity
Authors: Li Lan
Published: March 2023

The reverse technology spillover effect of Outward Foreign Direct Investment (OFDI) is an important way to increase the productivity of a parent company. In such spillover effects, ownership heterogeneity plays an important role. By matching data from the "Industrial Enterprise Database" and the "Directory of Foreign Direct Investment Enterprises (Institutions)", the present paper examines OFDI effects on the parent company's productivity improvement and the degree of this effect caused by ownership heterogeneity. After subdividing sample enterprises into five types according to their different ownership types, the moderating effect mode was applied to study the adjustment mechanism of the productivity effect brought about by OFDI together with external financing and personnel attraction. The results of the study show that corporations’ OFDI has a significant role in promoting the parent company’s productivity, and the productivity improvement effect of state-owned parent companies is higher than that of non-state-owned enterprises. The productivity effect of OFDI for parent state-owned enterprises and large private holding companies is higher than that of other enterprises, and their external financing and personnel attraction have a stronger promoting effect.
Business Situation and Evaluation of LVMH
Authors: Ding Jiaqi , Lang Yilin , Yao Mingyue
Published: March 2023

This article contributes to investigating the financial situation and company value of Louis Vuitton Moët Hennessy. Referring to the financial reports of LVMH and its luxury industry competitors Hermès, Kering, and Richemont for 2019-2022, multiples are calculated to make comparisons. There is an analysis of LVMH's business statistics such as earnings, debt ratios, payback periods, etc. Two main methods are used in the evaluation process. The first method, called EBITDA/EV, is also considered a multiple of the business value and is primarily used to assess a company's profitability. The second valuation is based on the price-to-earnings ratio and forecasted future earnings. It is used to see if LVMH's stock price is too high or too low. The results show that LVMH is overrated. The researchers also elaborate on the impact that overvalued prices can have on investors’ decision-making, and make recommendations on the future development of LVMH in terms of product manufacturing, brand image maintenance, and sales channels expansion.
Developments in Australian Bank’s Funding Costs and Lending Rates
Authors: Fan Yukang
Published: March 2023

This paper focuses on the funding costs and the lending rates of banks in Australia. As the world emerges from the COVID-19 pandemic, more and more countries need to change their financial policies to fit the new situation. In this trend, the central bank of Australia, which is the Reserve Bank of Australia, plans to increase its cash rate to stop or reduce the starting rate of inflation. Through analyzing the report from the Reserve Bank of Australia (RBA) and articles from related academic works of literature, this writer found some points to understand, evidence, and analyze. It also analyze the importance of the Australian central bank to change the cash rate. After analysis, the result shows that due to the change in the confidence of customers and the increase of the rate of inflation after the COVID-19 pandemic, the central bank had to increase the cash rate. Through tighter financial policies, the central bank planned to stabilize the economy of Australia. Meanwhile, the pressure of Australian banks grew as the funding cost increased and the requirement for home mortgage loans decreased. For future research on the cash rate, it is advised to evaluate that if the continuous increases in cash rate are overused in the future. This might need at least half a year or even longer time to wait for the impact of the policy and the effect on the market and the banks.
Analysis of new energy user satisfaction and research on prospective customer mining in Jiangsu province——based on IPA model and potential customer value model
Authors: Bao Lingyan , Zhou Wenjing , Zhang Wanyi
Published: March 2023

With the increasingly prominent environmental pollution and energy crisis, the slogan "Green water and green mountains are golden mountains and silver mountains" has become increasingly loud. New energy vehicles, as a new means of transportation, are highly praised by most environmentalists because of the particularity of their power. This survey takes new energy vehicle users in Jiangsu Province of China as the research object. Based on the results of the questionnaire, an IPA model is established to analyze new energy vehicle user satisfaction, and a potential customer value model is established to mine potential users. It provides some useful theoretical thinking for the development and popularization of new energy vehicles.
Economic Challenges and Policy Issues in the Emerging European Economies
Authors: Li Sirui
Published: March 2023

In recent years, the major European economies have responded boldly and imaginatively to the path of economic recovery, but they still face major challenges on two levels: the economic level and what policy measures need to be taken to address them in light of the current economic situation. From an economic point of view, the major European economies also have their own more obvious problems to face due to the repeated epidemics and the general challenges caused by the high inflation rates. Due to rising energy prices and supply shortages in some industries caused by the Russo-Ukrainian war, high inflation has recently swept Europe, repeatedly breaking records, and will continue to plague Europe. In this regard, European economies have provided appropriate policy support, ranging from monetary policy to cooperation with other economies. European economies are actively responding to the economic crisis and looking for new opportunities. This time, however, the European economy Whether the recovery can bring its economy back to the level before the new krona epidemic and to what extent the shadow of the epidemic brought by the new mutant virus Omikron will have a potential impact on the European economic recovery is not yet clear. The recovery of European economies is stagnant and protracted.
Differences between Chinese and U.S. Stock Markets in the Post-Pandemic Era: Fama Statistics and Application of the French Model
Authors: Xu Chenqian
Published: March 2023

The COVID-19 had a tremdeous effect on the stock market all over the world. US and China are the major capital markets worldwide. They have obviously been touched during the past three years by the COVID-19 epidemic. The stock markets of the two nations are very similar and very different at the same time. Both positive and negative emotions have emerged during the pandemic, at the national level, among companies and among individual investors. The rapid recovery from the recession is also on the table. In this paper, the impact of the COVID-19 pandemic is discussed with the analysis of two stock markets’ similarities. Additionally, the variations are contrasted and advice on asset management is given to investors in the post-pandemic era. Fama-French model is a mature and effective method to analyze the stock market in the relevant study, and its precision can be accurately used to analyze the stock market.
Research on the Innovation and Future Development of China's Medical Insurance Negotiation Mechanism
Authors: Ye Dikai
Published: March 2023

In recent years, China's medical insurance negotiations have achieved remarkable results but still have shortcomings. China's medical insurance reform is currently in the exploratory stage. This article looks at the characteristics of the dual role played by the Chinese government in medical insurance negotiations, and analyzes the advantages and drawbacks of enterprises accessing or not accessing medical insurance. The article argues that China cannot replicate foreign medical insurance mechanisms but must establish its own innovative mechanisms. This paper describes the progress and current status of medical insurance negotiations in China and elaborates on the five stages of medical insurance negotiations including preparation, declaration, expert evaluation, negotiation, and announcement. The article highlights some essential points and misconceptions of the negotiation stage. By investigating the medical insurance negotiation mechanisms in the United States, Canada, and Germany, this paper summarizes the practical experiences of developed countries in the control of drug prices and the use of negotiation mechanisms. The article reveals the existing problems of China's medical insurance mechanism and proposes pragmatic and feasible suggestions. It has important theoretical and practical significance for improving the medical insurance mechanism and promoting the healthy development of the drug industry.
Prediction of Credit Card Loan Risk Based on Multilayer Perceptron Neural Network Model
Authors: Yu Zejie
Published: March 2023

Under the background of Internet finance and the popularization of intelligent terminal equipment, the scale of data and the diversity of information have developed exponentially rapidly, while the bad debt rate of personal credit is vague and much higher than that of commercial banks in the traditional technology period. Most of the traditional credit evaluation is driven by models, and the robustness of the risk control system is poor, which cannot meet the increasingly complex demand for default risk prediction. Since commercial banks have accumulated large-scale data assets, it has great significance to combine machine learning technology to help banks extract effective information from massive data and achieve risk assessment of borrowers, thereby reducing the risk of default in borrowing. This paper selects a credit card related data set, uses principal component analysis to extract feature vectors, and obtains a risk assessment index system for borrowers. Then, based on MLP neural network, a credit card loan risk prediction model is constructed. The study reads: The MLP model based on principal component analysis has high accuracy, fast running speed and strong stability. It is an ideal model for commercial banks to evaluate the credit risk of borrowers. This study can provide a new reference for commercial banks to solve the problem of credit risk prediction.
Research on the Compensation Incentive System of Independent Directors in Chinese Listed Companies
Authors: Jin Youfang , Huang Lishi , Hu Hanxuan
Published: March 2023

The independent director system is one of the important components of modern corporate governance. The huge liability of independent directors in the Kangmei Pharmaceutical case in 2021 has once again become a hot topic of discussion. In the exploration of the causes of the failure of the independent director system, the motivation of independent directors to perform their duties and their incentives are also worth considering. Based on the relevant theories of independent director incentives, this paper conducts a comparative analysis of the incentive models of independent directors in China and other countries and concludes that the legislative level of incentives for independent directors in China is relatively low, and the remuneration forms, standards, and payment subjects are unreasonable and lack implementation. In addition, the establishment of independent directors’ associations and the gradual construction of independent directors’ reputation incentives were proposed.
Comparison of financing models of real estate enterprises: evidence from Vanke and Poly
Authors: An Yu , Deng Yixuan , Xu Ya
Published: March 2023

Contemporarily, the problem of financing plays a critical role in real estate enterprises. As for China, the financing model of real estate enterprises is single, and the capital structure is unreasonable. Therefore, it is particularly crucial for real estate companies to search an appropriate financing model. In this paper, we investigate the financing models based on the case analysis of Poly Development and Vanke, which are both leading enterprises in China's real estate enterprises, and compare the differences in the cost of funds and cash flow. According to the analysis, Vanke's financing model was better than Poly's development. If real estate enterprises want to break through the current predicament, they should change the situation of relying on bank loans, e.g., raise fundings from additional corporate bonds and medium-term notes to increase the proportion of direct financing and reduce the proportion of indirect financing. Enterprises should also explore diversified financing methods and expand financing channels. These results provide clues to guide real estate companies to obtain a more reasonable and perfect further exploration.
RSI and MACD indicators integrated: evidence from S&P 500 and Li-Ning as an example
Authors: Xiao Huajing
Published: March 2023

The price of the securities market is complex and fluctuating, which is undesirable for investors to blindly follow the main force when investing in the stock market. In this case, it is necessary to develop the own set of strategies to choose suitable investments. This paper first briefly introduces the principles of RSI and MACD indicators, then analyzes the impact of each indicator on stock price trend prediction based on cases analysis. To be specific, their advantages and disadvantages are summarized. Afterwards, the two indicators and analysis of their optimization utility are combined with cases to draw conclusions to argue the value of technical indicators in stock trading. Overall, these results shed light on guiding further exploration of technical indicators in the stock as a guide to practical operation.
Price Prediction in terms of Linear Regression For F, BYDDY and POAHY
Authors: Yan Zhaozhilin
Published: March 2023

In the environment surrounding the capital markets, investors are keen on predicting the stock market. Many companies and research institutions are following stock price movements every day. As more and more models and algorithms are proposed, the accuracy of forecasting is also greatly improved. This paper mainly focuses on adopting linear regression models to predict the future trends of three stocks, BYDDY from A-shares, POAHY from European stocks, and F from US stocks. By building the linear regression model and calculating the R-squared, the accuracy of the model is above 90% and the MAE between the predicted value and the true value is very small. The correlation analysis shows that the variables Open, High, Low, and Adj Close have a positive correlation with the predicted values. In addition, there is a correlation between the three stocks. In addition to successfully predicting the trends of the three stocks, the areas of stock price fluctuations were also obtained. Forecasting using linear regression models is a proven way to make it easier to understand and calculate. These results shed light on verifying the feasibility of the linear regression model to predict stock prices.
Analysis of Stock Price Prediction in Context of Machine Learning Models for Tesla
Authors: Xu Jiayuan , Yang Yi
Published: March 2023

Contemporarily, Investors spend plenty of time to speculate and predict the growing trend of the stock price in order to gain extra return from the stock market. Nowadays, the problem of natural resources and global warming has put oil-fueled automotive into controversial dispute. Therefore, the importance of environment-friendly automotive is remarkable in global scale. Tesla (TSLA), as one of the leading electric automotive builders, widely attracted the attention of investors around the world. In this article, we will adopt several state-of-art models in machine learning to predict the stock price of Tesla including ARIMA, LSTM, Linear Regression to analyze the stock price of TSLA. 80% of data is used to be the training set and 20% as the contrast group to verify the accuracy of the prediction. According to the analysis, the outcome of ARIMA model is quite accurate, and LSTM model is better than linear regression model. These results shed light on guiding further exploration of electric vehicle, the new blood of automobile industry.
Real Estate Prediction of House Price in Text of Multivariate Linear Regression
Authors: Zhang Yongxuan
Published: March 2023

During the recent decades, the estate market of China reflects dramatic increasing speed which shocks the whole world. Among various indicators, house price is one of the important indexes reflecting the fast raising price. In this study, the elements which connect to the house price are investigated. To be specific, this paper picks up the typical indexes to construct the model through the Multifactorial linear regression approach. Based on the method, this research discoveries the relationship between the house price with the other related macro-economic index new housing index, citizen wages, resident population, and currency of country. According to the analysis, there is slightly connection between them, and this connection is varying between different cities. While providing the reference to the following research, it also presents that the different development level for Chinese city have the different route to development. Thus, when enterprise or government make the decision or policy, it is necessary to consider its own conditions, not just copy other’s experience. These results shed light on guiding further exploration of the city development.
Stock Price predication based on Linear Regression, RNN, LSTM
Authors: Xia Bowen
Published: March 2023

The prediction of stock price has always been a topic of concern by the financial analysis industry. With the progress of science and technology, the prediction methods of stock price are becoming more and more rich and advanced. From classical linear regression to the state-of-art neural network scenarios, from mathematics to AI deep learning, the introduction of computers and the development of programming also provide a new direction for the prediction of stock prices. This study takes the stock of Johnson & Johnson in the past five years as an example, selects the open, high, low price of the stock as the explanatory variable, and chooses the close price as the explanatory variable to establish a linear regression model. This study also establishes RNN and LSTM models to predict stock prices. Subsequently, the R2, RMSE, MAE of the model are evaluated, where LSTM model have the best R2 score and the best prediction of future stock price. These results shed light on guiding further exploration to the short-term stock price prediction.
Crime Prediction Utilizing ARIMA Model
Authors: Lu Yuting
Published: March 2023

With the development of society and the progress of human beings, the issue of crime has attracted more attention. This research uses one of the most common time series models named the ARIMA model as the main algorithm to predict the crime data by month in San Francisco from 2003 to 2015, obtained from Kaggle. This research is about to study all categories of crime and specific crime cases as well. The focus is on the number of cases that happened every month. By applying the ARIMA model, it can be tested whether the trend of happened crime cases fits the model and predict the future crime tendency. The verification and prediction of crime data are studied with the help of the ARIMA model. And the goal of studying this dataset is to improve the safety and security of human beings. In this research, the ARIMA model simulates the previous crime trend effectively and forecasts the future crime trend with high accuracy. This is helpful to improve the safety level and reduce the crime rates in San Francisco.
Forecasting Daily Stock Volatility: A Comparison between GARCH and Recurrent Neuro-networks
Authors: Cai Weiting , Liu Kaiyang , Lu Keming
Published: March 2023

Forecasting the volatility of financial derivatives and securities returns has always been the core of financial research. Accurate volatility forecast is integral to financial risk management, which is vital for investors and supervision authorities. Traditional time series models (e.g., ARCH and GARCH models) have been famous tools for volatility forecasting. However, those models cannot capture non-linear correlations, and prediction capability is unsatisfactory. In this paper, we use multifactorial deep learning algorithms RNN, LTSM, and GRU with sentiment data to predict the future volatility of Apple (AAPL), then compare the accuracy of prediction with the GARCH model. According to the analysis, the prediction accuracy of LSTM and GRU significantly improved compared with the GARCH model. These results shed light on guiding further exploration of stock volatility prediction using deep learning algorithms. Besides, it advises investors to choose efficient stock price volatility forecasting and risk management tools.
Investment Portfolio Structure Based on Policy Orientation in Emerging Markets: Example from Emerging Industries of Strategic Importance in the Greater Bay Area of China
Authors: Liang Jinkai
Published: March 2023

This article employed data of all listed firms in Shanghai and Shenzhen Stock Exchange of China, screened companies feasible for policy orientation including emerging industries of strategic importance and the Greater Bay Area strategy to form an investment portfolio, to study whether policy orientation is a feasible information source for individual investors in emerging markets. Around 10 target stocks were selected and weighted according to their scale in Market Value respectively, and a 3-year back test was conducted in order to compare the performance of the portfolio and market. Heterogeneous position-adjustment strategies were considered to simulate the excessive transaction behavior of individual investors. Cumulative total and annualized return, volatility rate and Sharpe ratio were calculated using the data within the past 3 years to indicate the performance of the portfolio. It has shown that the Sharpe ratio of the portfolio was high, regardless of whether an adjustment of position was made. Also, the portfolio significantly outperforms the benchmark index, with a higher frequency of earning a positive excessive return on a day-to-day basis. It can be concluded that policy orientation can be applied in investment portfolio decisions for individual investors, in weakly-efficient emerging markets where the source of information is limited.
Valuation and Industry Analysis of New Energy Vehicles
Authors: Xu Jiaxiang , Xu Ziyuan , Ye Kaidi , Zhu Lixinyi
Published: March 2023

With the increasingly harsh global environment, the new energy industry has received strong support from national policies. On this basis, the enthusiasm of relevant departments and enterprises for the new energy industry has increased. This paper discusses the development of new energy vehicles by analyzing the development status, market development prospects and limitations of new energy vehicles. In addition, we conduct a corresponding valuation analysis of BYD Automobile, which is a leader in the new energy vehicles of China. According to the analysis, the intrinsic value of BYD's stock will be lower than its stock value, indicating that the investment value is higher perceived at this stage. As a consequence, the investment in BYD nowadays ought to be reduced in the future. These results shed light on offering better understanding of the development status and limitations of new energy vehicles, as well as providing a guideline for investment evaluation of the industry.
Analysis of the Ownership Dispute between Vanke and Baoneng Acquisition and Anti-acquisition
Authors: Zeng Xiao
Published: March 2023

The planned acquisition of Vanke by Baoneng Group, which started in 2015, is the most typical acquisition and reverse takeover case of listed companies in the contemporary Chinese capital market. In view of the market supervision loophole in Baoneng Group's insurance capital listing, as well as the respective problems of the acquirer and the acquirer, this paper will carry out research to analyze and evaluate the case in detail. To be specific, the reasons for Baoneng's intended acquisition, the strategies adopted for the cases as well as the countermeasures of Vanke will be analyzed. Besides, the capital source and mode characteristics of Baoneng system will be explored, whose volume is significantly different from Vanke's, so as to draw inspiration from this case. According to the analysis, the hidden danger of Baoneng is that the investment is too aggressive, and the financing means are too risky. Moreover, Vanke's problems are a fragmented shareholding structure and loopholes in its articles of association. These results shed light on guiding further exploration of corporate governance structure and future domestic capital market development.
The relationship between economic and political factors and the development of the manufacturing industry
Authors: Chang Chang
Published: March 2023

With the development of global economy, people can often see many foreign products, which can not be separated from the development of national politics, economy, and there is an excellent general environment. The development of the manufacturing industry is crucial to the economic and political development of a country, through the analysis of the economic, political and Covid-19 perspectives on the development of the manufacturing industry. Many manufacturing industries are facing the possibility of bankruptcy under the influence of Covid-19. Firstly, this paper investigates that economic development and political measures have different degrees of impact on the manufacturing industry through extensive data analysis. Secondly, By analyse the impact of the global spread of coronavirus on the manufacturing industry, such as the decline in the quality of raw materials leading to a lack of market demand and the increased risk of plant closures. Businesses, oversupply. In the face of the Covid-19, regionalization and digitalization trends, a three-step countermeasure is proposed to help the manufacturing industry recover from a macro perspective and to better assist the subsequent transformation and upgrading of the manufacturing industry.
Analysis on the organizational management of Tsingtao Beer
Authors: Wang Cailin
Published: March 2023

At present, in China, the domestic beer market has turned to the stock market as a whole, and the market competition is fierce. Affected by the global pandemic, risks such as insufficient supply of raw materials and rising costs have increased, and traditional offline consumption scenarios and channels have also been impacted. These factors increase the management pressure of domestic beer enterprises. Tsingtao beer, as one of the leading beer enterprises, is obviously representative of the industry. The SWOT analysis method will be used as the main means to analyze the case of Tsingtao beer, including the internal and external environment, to identify the strengths, weaknesses, opportunities and threats, so as to find the problems such as insufficient use of funds and excessive reliance on government subsidies, and finally put forward suggestions such as enriching the product structure, focusing on the middle and high-end market, strengthening network marketing and extending brand value.
Comparison of Two State-of-art Asset Allocations in Context of Indicators
Authors: Li Baoxiao
Published: March 2023

With the continuing development of the financial investment market and the support of the government, more and more resources and technology are focusing on the investment enterprise. Investors’ enthusiasm has surged, but they lack the professional information support for portfolio methods. This paper will investigate the two different well-known types of asset allocation portfolio namely alpha strategy and beta strategy for further interpretation and analysis. For different combinations, this study defined the same quantitative index, for income return ratio, maximum retreat, sharp rate of the three aspects of quantitative indicators compared to produce the better solution. According to the analysis, the study find that alpha strategy will get more positive return but need to bear more risk. On the opposite, the beta strategy presents a trend of stable with low return and low risk. These results shed light on guiding further exploration of selecting the investment strategies into the real life and the more scientific way to get profit.
Valuation Analysis of Metaverse Industry
Authors: Huang Yunhao , Li Kexin , Zhang Zheming
Published: March 2023

Since the beginning of 2022, share prices have been affected by volatility with the downturn in the market, and the Internet companies are at an important point of reform simultaneously, of which metaverse is the main direction. The meta-universe concept has been thrust into the limelight and has received widespread attention, with domestic and international companies beginning to lay out their transformations. Based on data collection and literature retrieving, we will discuss the future development prospects and potential of the metaverse from the development stage of the metaverse industry, the drivers of the metaverse industry, the business model and valuation of the metaverse industry. According to analysis, the market value of the metaverse will continue to climb as technology advances and the times reform. Although the metaverse is now in the development stage, we are extremely optimistic about its future development prospects and market value. These results shed light on guiding further exploration of the metaverse.
Second-Hand House Valuation Based on Binomial Option Pricing Model
Authors: Tang Wenlin
Published: March 2023

More and more families choose to buy the second-hand houses as their first house. Due to a high demand in second-hand housing market, there is a continuously rising trend in the price of second-hand houses. This article mainly focus on the valuation of second-hand housing in Chinese market, based on the binomial option pricing model. Besides valuing the second-hand houses as the American-style options, the time value is another important element in the pricing model. Based on the defined pricing model, the result of empirical analysis is that the estimation of current housing price has a difference from the actual transaction prices to some extent. It can be concluded that the current price of second-hand houses in Chinese market is far from reflecting the time value, and the time value of the second-hand houses is unable to be ignored in the future. It is hoped that there will be a more precise way to measure the value of time in the second-hand housing market specifically.
Stock Screening Based on P/E and Other Related Valuation Methods: A Case Study of Food Processing Industry in Henan Province, China
Authors: Zhao Zhiheng
Published: March 2023

China's capital market has undergone a process of development, in which the industries of various sectors have been continuously improved with steady growth. For a long time, Henan Province, as China's largest grain province, has lacked strong financial investment support for its local food processing industry. With the support of China's national policies, Henan's food processing industry has broad prospects and has attracted a large number of investors. The financial data of seven related companies was collected as a data source for this research. The purpose of this study is to provide investors in the food industry in Henan province with a stock selection model based on two valuation methods, P/E and P/B ratio. At the same time, the profitability and growth potential of enterprises are also taken into account in the stock selection criteria. Through continuous sorting and filtering, finally, the two stocks with the best overall performance are selected and the investment targets are determined. The study introduces several basic indicators for selecting stocks and is designed to provide investors with experience and scientific guidance.
Comparison of Future Price Prediction in Context of Machine Learning Approach
Authors: Xu Lu
Published: March 2023

Contemporarily, futures markets have become prosper on account of its intrinsic risk hedging function as well as double-side trading advantages compared to Chinese stock market. In this case, finding the suitable and appropriate way to predict future price changes will be a crucial thing for investors and traders of commodity. In context of theoretical analysis in terms of summary of previous models, this article firstly selects features and market information of all trading days from 2016 to 2021 as input. The research sample is the CSI300 stock index futures, and 1-daylow-frequency data is selected. Three price prediction models were built in terms of the data, i.e., linear regression, random forest, and support vector machine algorithms. Accordingly, the random forest algorithm has the lowest error, high accuracy and stability in the prediction of stock index futures price. These results shed light on guiding further exploration of future price prediction based on specific machine learning approach.
Portfolio Designed Based on Combination of EIF Stocks, Futures, and Bonds
Authors: Zhou Runtong
Published: March 2023

Contemporarily, investing in mutual funds have been a general trend for ordinary investors, as people hold the wish to earn the extra returns from the market. Among various underlying assets, portfolios are favorable ascribed to its risk separation based on the combinations of multiple assets. In this paper, the way to effectively use the limited initial capital based on investment in securities investment in order to obtain maximum benefit will be investigated and discussed in terms of model establishment and data derivation. According to the analysis, investors use the three stocks as a portfolio to diversify their investments, so that they can maximize profits and minimize risk. Moreover, according to the rise and fall rates of the three stocks in the previous period, the proportion that investors should allocate to the three stocks is obtained. These results shed light on guiding further exploration of investing in a portfolio of securities and allocating funds.
The Causes, Consequences and Countermeasures of Financial Fraud Based on the Case of Luckin Coffee
Authors: Bian Xingyuan , Wu Yiru , Xie Zihan , Zhang Yiyang
Published: March 2023

Muddy waters made an 89 pages’ report on Luckin coffee, it said Luckin Coffee had been making fictitious trades since the third quarter of 2019. The massive financial fraud at Luckin Coffee has dealt a blow to the Chinese company's reputation.This article through the relevant theories of financial fraud and the actual condition of financial fraud, rui xing coffee GONE theory analysis of the financial fraud motivation, and on the basis of the use of event study research shares for rui xing coffee fraud exception response, in the end, through to the audit institutions, enterprise itself and the government and regulators all three Suggestions, To guard against the consequences of governance failure.
The impact of the US-China trade war on China's vehicle and vehicle chip industry
Authors: Chen Tianhao
Published: March 2023

On 22 March 2018, US President Donald Trump signed a presidential memorandum on the 301- investigation, which will impose 25% tariff on specific Chinese goods. The trade war between China and the US officially started and during this time, several US measures influence China's vehicle industry and vehicle chip industry. This paper selects the China auto industry indexes, China Auto chip indexes and US dollar exchange rates from 6 months before the trade war to 24 January 2020.This paper uses VAR and ARMA-GARCH models to model and analyses the data, to study how the Chinese vehicle industry and vehicle chip industry have been affected by the US-China trade war, and to predict the future development of the Chinese vehicle industry and vehicle chip industry. This paper also suggests that in the current chip war between China and the United States, China can strengthen its technological development, strengthen trade exchanges with technological powers, and enhance exchanges with the United States to gain benefits.
Yield and Volatility of BYD in Uncertain Market: Evidence from Fed’s Monetary Policy
Authors: Feng Wenzhuo , Gao Yuxin , Wu Jiaqi
Published: March 2023

On March 16, 2022, the U.S. Federal Reserve Board announced that It would be the first rate increase since December 2018 and the target range for the rate of federal funds should be increased by 25 basis points, to 0.25 and 0.5%. The Federal Reserve Board of the United States announced a rise in interest rates on June 15, 2022, increasing the fed funds rate firing range to 1.5% and 1.75%, which was the Fed's biggest single rate increase since 1994. Chinese multinationals would be affected by the Federal Reserve's rate increase through the mechanisms of interest rates and currency rates, which will significantly affect the economy of China in many areas, including the automobile industry. This paper selects the well-known Chinese automobile international company BYD and intercepts its stock data as well as the Federal Reserve interest rate and uses both VAR model and ARMA-GARCH model to analyze the data, to study how the yield of Chinese companies has been affected by the Federal Reserve interest rate hike, and to provide feasible suggestions for the investors, lawmakers, and other international enterprises.
Huace’ s Current Dilemmas and Solutions
Authors: Lin Ruyou , Lin Shujing , Ren Heanyu , Zhu Yiquan
Published: March 2023

The study has intensively investigated the condition of the biggest Chinese film and television company Huace Film & TV under the current state of Chinese film and television industry. The aim of present study is to investigate the likely problems of Huace in recent years and the related solutions for these issues. Toward this aim, we have examined the role of the sub-company, diversified development and some television series and films produced by Huace. Taken together, the results of this study indicate the problems that potentially affect Huace, and we have suggested some useful and effective solution, such as enhancement of investment validation, cultivation of Huace’s faculty and improvement of scripts.
Fundamental Stock Analysis in COVID-19 Vaccines Industry
Authors: Xiong Zixuan
Published: March 2023

The COVID-19 keeps rampant in the human society from 2018 till now. Under the spread of the contagion, coronavirus vaccines are crucial factors to control the outbreak of the disease. Meanwhile, whether investing in companies developing COVID-19 vaccines becomes the research focus among investors. In this paper, fundamental stock analysis is applied as a method to investigate which companies in COVID-19 vaccine industry has the most promising prospect and will perform better in the future. The analysis of stocks is based on four aspects: valuation, profitability, growth, and payout, where the corresponding indicators are price to earnings ratio, earning per share growth, return on asset and equity, and dividend yield. After comparison of indicators of the main companies in the U.S. vaccine industry, suitable underlying assets are suggested to different types of investors. However, there are some limitations for using financial ratios to predict the future stock price in consideration of social fluctuations and fiscal policies. Therefore, further research ought to focus on how to combine fundamental stock analysis with technical method and social factors. These results shed light on guiding further exploration of stock selection based on fundamental analysis.
Analysis of the Strategic Decision-Making Behaviour of Entrepreneurs from a Behavioural Economics Perspective
Authors: Luo Jiali
Published: March 2023

In recent years, behavioural economics has gradually entered the public domain. It attempts to incorporate human behaviour, psychology and cognitive knowledge into economic analysis and theory. Therefore, to a certain extent, behavioural economics also influences entrepreneurs' strategic decisions. In this paper, we will illustrate how behavioural economics can influence the behaviour of entrepreneurs through the reference dependence, endowment effects and mental accounting in behavioural economics theory. The paper also incorporates the case of Taobao to argue that the right decision making behaviour is one of the key factors for the success of a firm. In addition, the paper discusses the reasons behind the strategic decision making behaviour of entrepreneurs through heuristic techniques and prospect theory in behavioural economics. In the conclusion, the paper shows how entrepreneurs can make the right decisions through behavioural economics theory. It also briefly explains the evolution of the direction of economics research and where it is headed in the future.
Stock Prediction Methodology using Artificial Neural Network: Application in Tesla stock price
Authors: Wu Wanxing
Published: March 2023

Contemporarily, the stock price fluctuates dramatically under the impact of lots of stochastic events (e.g., COVID-19, Russian-Ukraine conflicts). With the progress of machine learning techniques, it is feasible to predict the price accurately so that to inhibit the impacts of price variation. In this paper, the feasibility to forecast the price of underlying assets based on artificial neural network is investigated and discussed. For the sake of implementing the forecasting approach, the python Keras model is applied and different parameters are scanned. To give an intuitive example, the high volatility stock Tesla is selected as the target. According to the analysis, the state-of-art deep learning scenario is capable of prediction the price with high accuracy (i.e., above 95% R-square value). Nevertheless, some of the overfitting effects should be considered for applying such approach. Overall, these results shed light on guiding further exploration of implementing advanced machine learning approach to forecast the price of stock.