bluuebunny/crossref_metadata_2025 huggingface dataset:
Impacts of the China Securities Investor Services Center's Shareholding Exercise on Audit Fees
Authors: Dong Sihan
Published: July 2022

Protecting the legitimate rights and interests of small and medium investors is the basis of the sustainable and healthy development of the capital market. The shareholding exercise pilot policy of China Securities Investor Services Center is a major innovation in the protection mechanism of investors' rights and interests. Taking A-share listed companies from 2013 to 2017 as the sample, this paper constructs a difference-in-difference model (DID) to test the impacts of Investor Services Center's shareholding exercise on audit fees of listed companies. The study finds that the Investor Services Center's shareholding exercise significantly reduces the audit fees. The mechanism test results show that Investor Services Center's shareholding exercise can reduce the audit fees by restraining the level of accrued earnings management and agency costs. Further analyses show that the effect of reducing audit fees by Investor Services Center's shareholding exercise is more obvious in larger enterprises with lower proportion of independent directors. This paper enriches the research related to the protection of small and medium-sized investors, clarifies the impact mechanism of investor protection on audit fees, expands the relevant research on the influencing factors of audit fees, and provides theoretical support and suggestions for the relevant policy formulation of the China Securities Investor Services Center.
Research on tourism destination marketing strategy based on online word of mouth
Authors: Zhang Mengyao , Zhang Hongyan , Ni Chunmei , Zhang Duo
Published: July 2022

With the rapid development of mobile and Internet technology, people can more easily understand the local tourism information through mobile and Internet technology. Online word-of-mouth has become a very convenient and low-cost way of communication, which has attracted the attention of tourism enterprises and relevant scholars. Due to the strong particularity of tourism products, tourism destinations must strengthen the marketing management of online word-of-mouth and make full use of positive online word-of-mouth. By analyzing the impact of tourism destination word-of-mouth on tourists' consumption behavior and the problems existing in online word-of-mouth marketing, this paper puts forward targeted solutions, provides a reference basis for tourism destination online word-of-mouth marketing, and provides practical guidance for tourism online word-of-mouth marketing.
The brand analysis of Nike based on its emotional branding and marketing strategies
Authors: Wu Guanming
Published: July 2022

Nowadays, Nike has become one of the most socially-conscious brands around the world because of its effective branding and marketing strategies. Therefore, it is worthwhile to understand the brand development of Nike and explore how Nike's branding and marketing strategies put it into a favorable position in the competitive market. This paper was committed to a brand analysis of Nike taking its main product—shoes as the example. The brand value proposition of Nike is to provide accessible, fashionable, innovative, and high-performance shoes for its customers in every sport. Customer-focused emotional branding and marketing have made Nike establish a strong emotional resonance for its audience and thereby developed a prominent brand cognitive. Additionally, although traditional marketing channels have still played an important role in brand publicity, digital marketing has functioned as a booster to help Nike develop new markets and enhance customer loyalty to the brand. Nevertheless, in order to obtain greater success in the high-performance athletic-product market, Nike needs to overcome huge internal and external challenges, such as inadequate product competitiveness, the impact of Covid-19 pandemic, and global economic uncertainty. In this paper, some practical suggestions were provided for the management to improve product competitiveness and strengthen the two-way interaction between the brand and its customers.
Government Subsidies and Enterprise Innovation
Authors: Wu Xinyu
Published: July 2022

The current round of COVID-19 has increased the uncertainty of the economic environment, which may have an impact on government policies and enterprise innovation. Therefore, this paper tries to analyze the impact of government subsidies on enterprise innovation behavior under different business circles. According to the empirical results of a-share listed companies from 2017 to 2019, government subsidies play a significant positive influence on enterprise innovation behavior, and the business cycle plays a counter-cyclical role in the relationship between government subsidies and enterprise innovation behavior. That is, in the period of economic prosperity, the business cycle negatively adjusts the relationship between government subsidies and enterprise innovation. During the economic depression, the business cycle positively regulates the relationship between government subsidies and enterprise innovation. The grouped test shows that the above effects are concentrated in the enterprises located in the eastern region, while in the enterprises located in the non-eastern region, the influence of government subsidies on enterprise innovation does not change significantly in the fluctuation of business cycle. In this paper, the conclusion shows that it is necessary for government departments to attach great importance to the influence of business cycle on enterprise innovation behavior and formulate more targeted fiscal policies.
Research on the valuation of Tesla stock
Authors: Chen Jiakai
Published: July 2022

Tesla Inc. is the largest electric car company in the U.S. and the world's first maker of self-driving cars. Tesla's products are now the world's best-selling electric cars. The company's market capitalization also surpassed $1 trillion in October 2021. Many investors now consider Tesla to be a promising investment choice. This paper analyzes the current situation of Tesla from various perspectives and provide suggestion on investment related to Tesla.
Digital Transformation and R&D Innovation: The Moderating Effect of Marketization Degree
Authors: Xun Yichen , Ye Yujing , Jia Bowei
Published: July 2022

With the continuous development of socialist market economy, more and more enterprises use digital technology to realize digital transformation. Digital transformation has an important impact on enterprise R&D and innovation. Based on the data of Shanghai and Shenzhen A-share listed companies from 2016 to 2020, this paper empirically tests the impact of enterprise digital transformation on R&D innovation. It is found that digital transformation has a significant positive impact on R&D innovation, and the degree of this impact is related to regional differences and the nature of equity. Digital transformation has a more significant impact on enterprise R&D innovation in high marketization areas. This effect is generally significant in areas with low degree of marketization, but the degree of influence is lower than that in areas with high degree of marketization. The digital transformation of non-state-owned enterprises has a more significant impact on R&D innovation; The influence of state-owned enterprises on the whole is significant, but the influence degree is lower than that of non-state-owned enterprises. Therefore, it is a feasible path to enhance the level of enterprise R&D innovation and strengthen digital investment to realize the digital transformation of enterprises. The government should also support the digital transformation of enterprises according to the location and nature of enterprises.
Research on the impact of financial expansion on FDI
Authors: Liu Can
Published: July 2022

As China is currently in a new stage of opening up to the outside world, there is widespread concern about how to attract foreign direct investment. Given the relative paucity of literature examining the effect of financial expansion on FDI, this paper examines the effect of the value added of the financial sector as a share of GDP on FDI per capita for each province in China from 2003 to 2018 to verify relevant mechanisms. The results find that financial expansion inhibits domestic FDI inflows and the effect has regional heterogeneity, which may be caused by inadequate financial system reform and misallocation of financial resources. It is therefore important to promote the high-quality development of the financial sector and improve the rational allocation of factors while China's economy continues to grow.
The Influence of the Belt and Road Initiative on the Technological Upgrade of Enterprises in Countries and Regions along the Belt and Road: Study based on Difference-in-difference Model
Authors: Sun Haoyuan
Published: July 2022

Remarkably, the Belt and Road Initiative has increasingly injected important impetus into the economic growth of countries and regions along the Belt and Road. However, how such a growth model affects local businesses? In this regard, this paper constructs a Difference-in-difference (DID) model based on whether the Belt and Road Initiative can promote the technological upgrading of countries and regions along the Belt and Road. The data of listed companies in countries and regions along the Belt and Road Initiative from 2013 to 2020 are used for verification. It is found that the Belt and Road Initiative can significantly promote the technological upgrading of listed companies in countries and regions along the Belt and Road, represented by the number of patents granted. This conclusion implies that the implementation of the Belt and Road Initiative will promote the common development of countries and regions along the Belt and Road, and provides theoretical support for promoting the high-quality development of the Belt and Road. In the meantime, amid the implementation of the Belt and Road Initiative, relevant countries ought to strengthen communication and negotiation, consolidate and deepen cooperation, expand the sphere of influence and adhere to the innovation-driven development strategy, so as to build the Belt and Road Initiative into a platform for the implementation of a community with a shared future for mankind.
The Linkage between Crude Oil and Stock market: Evidence from China and the United States
Authors: Liu Shiyun
Published: July 2022

The global crude oil and stock markets have been extremely volatile in recent years, with prices fluctuating rapidly. We considered the linkages between the crude oil market and the stock market in China and the US, applying a time-varying t-Copula-GARCH model based on the Chinese INE crude oil futures price and the SSEC, and American WTI crude oil futures price and the S&P 500. We found that there are positive correlations between crude oil and stock markets in both China and the United States. Although the linkages between the two markets are weaker in China than in the United States, the magnitude of the changes and the volatility are larger. In addition, the linkages between the two markets in China and the U.S. increase significantly under extreme risk events such as the COVID-19 pandemic. These findings enrich the research on the linkages between commodity and stock markets.
An Empirical Study on the Impact of Shared Accommodation Development on Commercial Housing Price
Authors: Dai Haowei , Zhuang Zanxin
Published: July 2022

Based on the rise of the shared accommodation market and the guideline of “Housing is for Living in, not for Speculation” proposed in the report of the 19th National Congress of the Communist Party of China, this paper uses the time series data of 2014-2021 in Beijing to establish a VAR model between the shared accommodation market and commercial housing price. Using the methods of co-integration relationship analysis, Granger causality test, impulse response function and variance decomposition, this paper empirically studies the relationship between the number of shared accommodations, the average price of housing per night and commercial housing price in Beijing. The results show that: (1) The number of shared accommodations has a positive driving effect on commercial housing price in Beijing. (2) The rent of shared accommodation has a negative pulling effect on commercial housing price in Beijing. (3) The impact of the development of shared accommodation market on commercial housing price in Beijing should be reflected in the long run. Based on the interaction between the shared accommodation market and the real estate market, corresponding policy suggestions are put forward for housing price regulation and control.
Study on the Relevance of Internal Legal System Environment, Format Guidelines and Carbon Information Disclosure
Authors: Jia Ruyu
Published: July 2022

This paper empirically investigates the relationship between the internal legal system environment, disclosure format guidelines issued by China Securities Regulatory Commission (CSRC) and carbon information disclosure, using Shanghai A-share industrial enterprises from 2018 to 2021 as the research samples. The results of the study show that the overall level of carbon information disclosure is low and varies greatly among enterprises, that a sound internal legal system environment can improve the level of carbon information disclosure, and that there is a significant positive relationship between the extent to which the disclosure format guidelines issued by the SFC are complete and the level of carbon information disclosure. The study confirms the importance of the internal and external systems of companies, and provides reference for the study of the factors influencing the level of carbon information disclosure.
Research on Financial Credit Risk Prediction under the Internet Background
Authors: Rao Sunhan , Chen Guopeng
Published: July 2022

As a new type of financial business model linked to Internet technology, Internet finance can solve the financing difficulties of individuals and small and medium-sized enterprises to a certain extent. With the continuous development of Internet technology, the data sources of Internet finance are more extensive and the scale of data is getting bigger and bigger. This paper combines two two-step sub-sampling algorithms with logistic regression model, and analyzes the prediction effect of Internet financial credit risk through the results of numerical simulation and empirical analysis. The logistic regression model based on the two-step subsampling algorithm maintains high accuracy and saves time significantly. Therefore, the regression model based on the two-step subsampling algorithm can make good predictions on the credit risk of Internet finance in both high-dimensional and low-dimensional Internet financial credit data.
Sustainable performance evaluation of forestry enterprises in the context of carbon neutrality
Authors: Zhang Jiayang
Published: July 2022

Highly polluting and energy-consuming enterprises are generally considered to be a key concern for achieving sustainability, but the sustainability of forestry enterprises is not to be underestimated. Enterprise development can only be considered stable if the economic, environmental and social development of the enterprise is addressed simultaneously. To properly and comprehensively evaluate the sustainable development of forestry enterprises, there should be a corresponding performance evaluation. Constructing a sustainable performance evaluation model for forestry enterprises can not only help enterprises to develop in a balanced way in the three dimensions of finance, environment and society, but also provide directions and suggestions for their future operations. In this paper, we construct a six-dimensional SBSC, combining the three methods of DEMATEL, ANP and VIKOR. The paper also evaluates the case of a specific forestry company, J, to identify the problems of the case company and to propose corresponding improvement measures for its sustainable development strategy in order to achieve the necessary level of expectations.
The Transition of marketing strategies of RIO Cocktail in China
Authors: Xu Ruolan
Published: July 2022

RIO Cocktail established in 2003 when it accessed the market with unfamiliar alcohol, pre-cocktail, to Asian people. RIO tailored the recipe for Asian people according to their tastes and eating habits. Being inspired by a Japan cocktail Chuhai cocktail, RIO is low-alcohol which becomes the main selling point of itself. Reaching the peak in 2014, RIO was successful due to high exposure by inundated advertisements and massive product placements in TV shows, however, RIO witnessed a severe decline in sales in the next few years. In 2018, the new series of RIO was released with a new spokesperson, Zhou Dongyu, and started a new “RIO craze”. The transition of RIO’s marketing strategy is worth study since it covers the mistakes and possible corrective actions which are of referential value for corporations and enterprises which face similar marketing challenges while suffering sales decline. In this research, RIO’s transition of its marketing strategy could be reflected in three aspects: redetermining brand image by choosing spokesperson, impressing consumers through context marketing in advertisements, and stimulating purchase by means of creative and innovative co-branding activities. Taking the abovementioned three steps, RIO made improvements and had better performance in sales.
Empirical Study on the Impact of Key Audit Disclosure on Stock Price in Audit Reports
Authors: Yue Yingying
Published: July 2022

In order to meet the needs of capital market reform and development for high-quality accounting information and improve the information content of public company audit report, the financial statement audit business of capital market related subjects needs to be reformed. On December 23,2016, the reform of new auditing standards has been started in China，and  12 guidelines such as China CPA Auditing Standards No.1504- Communicating Key Auditing Matters in Auditing Reports were published. In order to steadily advance the reform of the audit report, the new audit report guidelines have taken a step-by-step implementation program, of which the first A+H stock listed companies were implemented on January 1,2017. This paper mainly studies the following two aspects: whether the disclosure of key audit matters will affect people's investment decision, and then affect the stock price fluctuation of listed companies；whether the disclosure of key audit matters in the audit report of state-owned banks and non-state-owned banks has different influence on the stock price. This paper takes the A-share listed banks , by collecting the enterprises 2013-2018 annual audit reports and the closing prices of the stock during the report day, to carries on the research and makes the hypothesis, and finally use the empirical verification, draw a conclusion.
Markedness in negative interlingual transfer: analysis of the productive skills of Chinese
Authors: Hang Xiaoya , Li Xun
Published: July 2022

Language transfer is essential in foreign language learning which can make influence on the second language acquisition positively and negatively. This study is focused on the negative transfer which always has connection with the differences in the linguistic features of two languages. Features in language can be regarded as having the characteristic of markedness. Unmarked features are natural and easy-memorizing but marked features might be more effort-needed to manage. In order to figure out why Chinese students having trouble learning English, based on the data collection and other research, the detailed linguistic analysis is provided in this essay. The thesis statement will concentrate on five linguistic aspects: 1) Phonology, 2) Lexicon, 3) Syntax, 4) Semantics, and 5) pragmatics. Phonemes and tones will be introduced in phonology. Lexicon and syntactical differences are included in part two. Some semantic components will be featured with markedness and the way and attitudes which people represent feelings pragmatically will be discussed in the end. The comparison between Chinese and English is given and markedness is also concluded in each part of the features through this essay. According to the analysis and the conclusion could be given that negative transfer occurred in each aspect of language acquisition and more attention are needed for L2 learners to avoid making mistakes.
Avoiding Negative Transfer from Grammar and Culture When Teaching Chinese to Japanese Students
Authors: Wang Fan
Published: July 2022

The purpose of this article is to explain the negative language transfer from Japanese grammar and culture. It can help teachers who are Teaching Chinese as a Second Language (TCSL teachers) to give more targeted coping strategies in teaching. In the process of learning a second language, learners usually tend to rely on their mother tongue to understand the second language, which is recognized to create a certain negative transfer of the mother tongue. In the process of teaching Chinese to the Japanese students, the Japanese students often cannot overcome broke the rule of the original mother tongue. It affects the processes of Chinese language acquisition and the way of expression. China and Japan are the only two countries in the world that use characters. There are many common Chinese words in Chinese and Japanese, so it is relatively easy for Japanese to learn Chinese, but there are also some bottlenecks. The research object of this paper is Japanese adults who are learning Chinese, from basic to intermediate and advanced levels. By comparing Chinese and Japanese grammatical structures, expressions, and cultural factors to find out the difficulties of the Japanese students to learn Chinese, then, analyze the reasons and make suggestions. This paper systematically summarizes the problems that Japanese students encounter in terms of grammar, expression habits, and culture when they are learning Chinese, but does not conduct an in-depth analysis of each point, which is hoped to pave the way for future research. Of course, the factors that affect Japanese learning Chinese are pronunciation problems and other problems, which are not covered in this article.
Corporate social Responsibility and Sustainable Growth —— A Circular Evolution Model
Authors: Ma Yinuo
Published: July 2022

The article first sorts out, summarizes and comments the literature of sustainable growth, then points out that the relevance of sustainable growth of CSR should be viewed from the long-term time dimension, and based on the long-term perspective, the relationship between stakeholders will produce different credit capital, and they can produce synergies, reduce the development resistance, improve the competitive advantage, increase the long-term value of the enterprise, and finally realize the sustainable growth of enterprises. This paper constructs the circular evolution model of corporate social responsibility and sustainable growth, and puts forward suggestions on the emphasis on social responsibility.
The Use of Inflection Morphology of Tense and Agreement in English Among Chinese Second Language Learners in College
Authors: Li Wenhui
Published: July 2022

This study examines how Chinese learners of English use four English verb inflectional morphological changes, namely the third person singular -s, the past tense -ed, the copula be and the auxiliary be. Unlike English, subject-predicate agreement and tense marking tense markers are not present in Chinese. Therefore, this difference between the two languages can cause difficulties in second language learning. To explore English language learners' use of verb inflection changes, this study investigated the spontaneous production data of four Chinese college students in online classes. The results show that the four Chinese undergraduates had the highest error rate in the inflection change of the third-person singular verb, slightly higher than the inflection change of the past tense of the verb. That indicates the correct rate of verb inflection change of past tense is slightly higher than that of agreement. Moreover, the copula be and the auxiliary he is rarely used by learners. This has implications for English teaching activities, and Chinese university English teachers can adapt their teaching to these situations by focusing more on students' use of inflexion changes in production tasks.
L'Oréal Paris Consumer Loyalty Research Based on the Chinese Market
Authors: Dang Minqi , Kong Xiangxin , Wang Yitong , Wang Yuyin
Published: July 2022

As an important aspect of marketing strategy, customer loyalty plays a vital role in brand building. This paper takes customer loyalty as the research object, and conducts theoretical research on consumers, cost, convenience and communication based on the 4C marketing theory. This paper combines 104 actual and effective survey data, and uses the regression analysis method of the data. In the context of the rapid development of 2019-nCoV in the past five years, Chinese consumers' loyalty to Paris consumers, changes in consumption patterns, changes in the loyalty of young consumers, and new changes faced by L'Oréal Paris. Under this circumstance, the brand should deal with its own characteristics, deal with new changes, strengthen the building of brand customer loyalty, and promote brand building.
Legal Difficulties of China's Anti-tax avoidance Measures and solutions
Authors: Zhao Ziyan
Published: July 2022

With the further advancement of economic globalization, multinational corporations contribute more and more to the global economic development nowadays. At the same time, the tax avoidance of multinational corporations has attracted more and more attention from various countries. At present, Chinese domestic scholars have different opinions on the tax avoidance identification standards and proof responsibility in China. Foreign scholars have certain research on the reasons, methods, identification standards and proof responsibility of tax avoidance of multinational corporations. Tax avoidance of multinational corporations has a negative impact on the economic development of various countries. It creates an unfair market environment. This paper is divided into four parts. At present, there are difficulties in the implementation of laws and regulations of anti-tax avoidance measures. China’s anti-tax avoidance legislation is not perfect. The rigidity of the system implementation is also insufficient. The reasons behind these problems are the for-profit nature of multinational corporations and the different economic systems of different countries. Based on this, this paper tries to solve the problems above by putting forward the corresponding strategies from the legal level and the system level. This paper uses comparative literature analysis method, comparative analysis method and learn from foreign advanced experience. The aim of the paper is contributing to the current research on tax avoidance behavior of multinational companies.
Sino-US trade conflict and fluctuation of China's stock market: An Empirical Evidence
Authors: Du Yizhou
Published: July 2022

The trade war between China and the United States has had a significant influence on China's economy, as seen by stock market volatility. The paper uses the ARMA-GARCH model, by selecting the six time-points as the external variables, to analyze the Shanghai and Shenzhen indices in returns and volatility to see whether China can get rid of the negative impact on its economy. The empirical research shows that the impact of the US increased tariffs on China's stock market will be short-term and China's financial market remains resilient. This paper gives predictions about the stock market and reasonable evidence for the conclusion by constructing financial models. It also provides suggestions for investors about how to adjust their investment strategies when major external risks occur.
The Influential Factors the E-commerce on Customer Loyalty
Authors: Ning Wantong
Published: July 2022

The paper highlighted the development situation of E-commerce in the current market environment and the factors that might affect customer loyalty. The data has been conducted in a new energy company that sells their products through a we-media platform named Tiktok in China. The innovation ability of network products, technologies, and services has been improved, and gradually emerged in the trend of development independently. As far as e-commerce is concerned, the value of one loyal consumer is much higher than that of ten ordinary customers and how could a company stand out from the other competition. Nowadays, the online markets offer the new energy business unique benefits and profits. In this situation, the paper discussed the factors that could be involved in and affect the consumer to choose different e-retailers and also how to avoid the dissatisfaction comments from the customer in order to reach more business and advances. The study concluded that the results of customer loyalty can determine the lowest point, as people's satisfaction below this lowest point, loyalty decreased significantly. The findings of this paper suggested that the e-customer service quality, product quality, and a competitive price had a positive relationship with customers choosing e-commerce.
Research on the Influencing Factors of Consumers' Purchase Intention in WeChat Daigou
Authors: Meng Wang
Published: July 2022

After the reform and opening up, the scale of overseas daigou in China has gradually expanded, and WeChat platform has become an important trading platform for daigou by virtue of the integration of virtual community and payment functions. As there are many contents involved in the transaction process, there will be a variety of factors that affect whether consumers are willing to purchase on WeChat. Therefore, based on the analysis of four factors on the basis of the theory and technology acceptance model, with the external environment factors, individual consumers, marketing factors and community factors dimensions of four kinds of factors as independent variables, perceived value as intermediary variables, consumers purchase intention as dependent variable, the WeChat act as purchasing agency in the empirical research on the influence factors of consumer purchase intention, and on this basis, Relevant countermeasures and suggestions are put forward for effective marketing of WeChat purchasing agents.
Research on China's High-speed Railway Development from the Perspective of Financial Analysis and Management
Authors: Lin Yuhan , Xiao Xiao , Peng Zihan
Published: July 2022

Over the years, the number of railway passengers sent, the turnover of railway passengers, freight volume, cargo turnover, and conversion turnover have steadily ranked first in the world. By the end of 2020, China had 146,000 kilometers of railways in operation, 38,000 kilometers of which were High-speed railways, ranking first in the world. However, behind these honours, there is a practical problem of low profits and high liabilities of High-speed rail projects. This paper will be based on the perspective of financial analysis, analyse financial system of the connotation of health management, from the profitability, asset quality, debt conditions, operating four aspects to build High-speed railway financial health management system, The corresponding indexes are obtained through quantitative analysis to evaluate the current operation status of High-speed railway.
Develop effective incentives for employees through motivation theory
Authors: Yu Binfei
Published: July 2022

Motivation incentive mechanism refers to the sum of the interaction between the incentive subject and the incentive object through incentive factors or incentive means in the organizational system, that is, the sum of the internal relationship structure, operation mode, and development and evolution law of enterprise incentive. Under the modern enterprise system, to give full play to the enthusiasm of employees, it is necessary to adopt an incentive mechanism, so that they can realize their value in the process of creating for the enterprise so that their enthusiasm and creativity will be more full play and develop. Therefore, the establishment of a motivation incentive mechanism will enable enterprises to maintain strong momentum of development. Stimulating internal and external motivation of employees by different management methods, formulating motivation measures according to ERG theory, and setting motivation goals for the team by using goal-setting theory. These methods can successfully motivate team members to complete their tasks to a certain extent.
Analysis on the effective cooperative education mechanism of Ideological and political courses
Authors: Song LiXia
Published: July 2022

According to the situation of Ideological and political education in higher vocational colleges, this paper expounds the reasons affecting the effect of Ideological and political collaborative education from the popularization of the concept of collaborative education and the improvement of the mechanism of collaborative education. Then it designs the path of effective collaborative education of Ideological and political courses, which develops from "Ideological and Political Courses" to "curriculum ideological and political education", and covers the school curriculum; Build a collaborative education mechanism based on "three complete education", encourage teachers to participate in Ideological and political collaborative education, and establish a collaborative education mechanism with internal and external linkage, so as to ensure the effect of collaborative education.
How the Real Option Reduces Risks in Producing Film Sequels
Authors: Wang Yirui
Published: July 2022

The film industry history can be traced back to the late eighteenth century when people began to realize the necessity of entertainment. After years of development, more and more people start to pay for watching films, which generates a tempting revenue for the film industry and further helps the industry attract more investment. To handle the risk of investment, signing an option contract and using real options can help investors make decisions more rationally. In this paper, the author will focus on using option theories to reduce risks by purchasing sequel rights. It provides a sample of reducing risks for investment in the film industry and arbitrage from undervalued sequel rights, which can be imitated in similar conditions.
Driverless Industry: Current State, Business Model, Challenges and Prospects
Authors: Chen Haozhe , Li Le , Wang Peiqi
Published: July 2022

Digital transformation in the automotive industry promotes the emergence of autonomous vehicles, having a significant impact on people’s daily life and microeconomic environment. This paper presents the current situation of the self-driving industry, its prospects, and the potential value chain in the future. Being the bellwether in the self-driving industry, Waymo has had the largest driverless taxi service in the world. Although there are many obstacles in the process of autonomous vehicles being the mainstream, its future is still promising. We predict the changes in the value chain mainly come from driverless technology and its convenience. This research could enable autonomous vehicle manufacturers to know which aspects should be developed into core competencies.
The origination and progress of modern portfolio theory
Authors: Chen Yifei , Lu Junjian
Published: July 2022

Portfolio construction plays a vital role in investment decision. In this paper, we demonstrate the origination and progress of the modern asset portfolio theory as well as the state-of-art applications. Specifically, we discuss the measure to optimal portfolio configuration and apply Python to analyzing portfolio configuration. According to the analysis based on Markowitz portfolio theory, one can obtain the portfolio with the smallest risk or the largest Sharpe ratio and the efficient boundary among the portfolio composed of multiple assets. Investors can make rational investment according to their actual ability and risk preference. Overall, these results shed light on the combining traditional financial theory with emerging programming language to address financial issues more quickly and efficiently.
How Digital Inclusive Finance influence Income Gap in Shaanxi Province——Based on Regression Analysis
Authors: Xu Hao
Published: July 2022

Digital inclusive finance has a significant effect on reducing urban-rural income inequality. According to the relevant data of Shaanxi Province from 2011 to 2018, this article constructs a regression model for empirical analysis. The results show that increasing digital inclusive finance in Shaanxi can significantly reduce the income gap, which will guide the direction for reducing the income gap between urban and rural in Shaanxi Province in the future. In addition, the fiscal expenditure of Shaanxi Province will increase the income gap.Therefore, Shaanxi Province should increase the inclination of fiscal payment to rural areas, promote rural construction, and drive the income of residents to increase, thereby reducing the income gap between urban and rural area.
Research on the Relationship Between Financial Crisis and Global Asset Prices
Authors: Shen Yuxi
Published: July 2022

This paper studies the relationship between the financial crisis and global asset prices. The research angle of this paper is different from the previous literature. It not only examines the decline in the global asset price level after the financial crisis, but also finds that before the financial crisis is often accompanied by a huge increase in asset prices. Therefore, it is not difficult to find that there is a relatively complex interaction between the asset prices index and financial crisis. Changes in asset prices is not only be used as early warning indicators of financial crises, but also portray the negative impact of financial crises on the economy and finance. The research results show that before the financial crisis, the global asset price factor is increase by up to 28%, and after the financial crisis, it is decrease by 120%. The research in this paper provides a good reference for how to prevent global financial risks, avoid and quantify the impact.
Marketing Strategy Analysis of Short Video Platforms in the Era of Internet Economy - Taking Tiktok as the Case
Authors: Cheng Jingwen , Zeng Xinhe , Zhu Yutian
Published: July 2022

The short video market in the internet economy era is moving towards the age of national realization. It is a unique market area that intersects with various industries simultaneously. It is a new information dissemination carrier and trend to solve the needs of the fragmented online entertainment environment in the new digital economy era. This article combines the development trend of short video platforms and the growth process of TikTok, an in-depth analysis of TikTok's business model and its marketing strategy based on SWOT. It finds that TikTok has the advantages of a robust, intelligent algorithm, interest e-commerce expansion of consumer coverage, mature advertising interactive marketing system, live broadcast rewards to accelerate traffic realization, etc. This paper provides ideas for solving problems and future development suggestions from the aspects of intelligent algorithm mechanisms, innovative forms of advertising, functional diversification, and review requirements control. In the face of the rapid development of the short video industry in the era of the internet economy, TikTok should maintain its competitive advantage. At the same time, take corresponding solutions to problems in marketing strategies to maintain a leading position in the industry competition pattern.
Research on the Development of Metaverse Marketing in the Context of Digitization: Illustrate by the Case of BlueFocus
Authors: Cui Wanting , Fan Kaixuan , Ci Danwangjie
Published: July 2022

Most enterprises are eagerly looking forward to marketing in brand new digital formats, while the creation and propagation of the Metaverse is also promoting the transformation of enterprise’s digital marketing. This paper studies the marketing services of BlueFocus within the background of Metaverse. We took BlueFocus's service customers as samples and used SWOT analysis model to analyze the influence of the new digital marketing mode with respect to itself and their marketing customers. We found it was advantageous to them to develop new business in the Metaverse field, which could set an example for the entire marketing industry. For the service customers of marketing, they can use the new marketing model to enhance the brand influence and satisfy customer demand, as well as improve the ability to acquire customers and resulting economic benefits.
Analysis of Pinduoduo's Modern Marketing Strategy
Authors: Chen Ken , Chen Tianzhen , Li Lingui
Published: July 2022

Pinduoduo is an socialized e-commerce app built-in September 2015 and it characterizes as the basic pattern of C2M. Due to its especially unique strategy patterns, the folks have different reviews about it. To change the stereotyped cognition people hold for Pinduoduo, this paper deals with issues in terms of doing Marketing, and deeply analyses activities, such as Ten Billions of Subsidies, Enable the Uplink Market, Pinduoduo’s public welfare activities. According to some published papers, combining the information from Pinduoduo's official website, at the same time, applying figures to prove the results, using tables to explain the theories, this paper commences the analysis operation and view of Pinduoduo have been shown to the folks. While researching its operation, this paper also creates new sights that Pinduoduo is not a low-price and poor-quality low-end purchasing platform but is an enterprise that is responsible for society.
Analysis of Xiaohongshu’s Marketing Strategies
Authors: Xu Chunxi , Jiang Xueyao , Zhang Xuezi
Published: July 2022

In the context of the continuous development of the Internet and the close cooperation of the international economy, Xiaohongshu, as a cross-broad e-commerce company, is exploring its best marketing strategies. This article analyses the threats and drawbacks of Xiaohongshu through SWOT and then put forward related suggestions. While Xiaohongshu is constantly trying new marketing plans, it should also improve and correct the shortcuts to respond to the risk of the competition in the same field and promote its e-commerce to further extension.
Research On Finding Optimal Portfolios Based on Markowitz Mean-Variance Model -- Constructing Efficient Frontier and Portfolio with Highest Sharpe Ratio Using 4 Assets in Chinese Market
Authors: Deng Xiaoyu
Published: July 2022

Markowitz mean-variance model is the foundation of modern investment science, and how to apply this model to construct optimal portfolios is always of interest. This paper uses the Markowitz mean-variance model and four typical assets in Chinese market to construct efficient frontier with highest expected return rate at each risk level and lowest risk at each expected return rate level, and the portfolios with the highest Sharpe ratio. There are three main results in this paper. Firstly, the efficient frontier has the U shape and V shape rotated   clockwise in the case of excluding and including risk-free asset respectively. Secondly, the theoretical efficient frontier obtained from mathematical formulas approximately coincide with those from the simulation experiments. Thirdly, the portfolio with the highest Sharpe ratio always occurs in the intersection point of the efficient frontier and its tangent line that passes through the risk-free asset. The results from this paper provide a convenient method of using mathematical formula for investor to construct optimal portfolios in real practice.
Research on Chinese stock market based on CAPM: pre and post Covid-19 pandemic
Authors: Liu Qianqing
Published: July 2022

The outbreak of COVID-19 has had a huge impact on China's economy. In order to study the specific impact, this paper uses the capital asset pricing model (CAPM) to make a comparative analysis of four assets in the two years before the epidemic (January 1, 2018 - January 31, 2019) and the two years after the epidemic (January 1, 2020.1-2021.13.31): A market composite index of stocks, bonds, gold, and oil. Firstly, the market portfolio is obtained by using capital market line (CML) analysis. On this basis, the following conclusions are drawn from the analysis. Firstly, the emergence of COVID-19 had a considerable impact only on the stock market in early 2020. Secondly, this paper again confirms that the CAPM model is not particularly suitable for the application of China's stock market. By all these analyses above, this paper aims to provide a reference for investors on whether to enter the Chinese stock market for investment in the influence of the COVID-19.
The regulation of MNEs overseas pollution from different subjects
Authors: Mao Silin
Published: July 2022

Before the 1900s, the busted economic balance blurred the eyes of the governments in developing commonwealths, which took heed of pursuing finical impartiality instead of addressing environmental complications. Admitting a considerable number of MNEs into their land without strict examination of their environmental-friendly credibility, the nature scenes of these countries are irreversibly damaged. The turning point arrived in 1984 when the deleterious chemicals of the subsidiary of Union Carbide in India seeped. However, all these rampant pollution activities have only slightly abated, not eradicated. This essay will examine the current situation and how to deactivate the illegal contamination in the host countries using the analysis of legal norms and case studies to proffer reference to various political, legal, and commercial interested herd. The cardinal mentioned solutions include promoting nature-related education through social media and compulsory education system, establishing monitor departments to monitor the track of exotic companies, and so on. Putting the environmental problems in the spotlight, countries with a copious budget and human resources started to manage their natural situation. MNEs from the sophisticated areas which are required strictly by their government to reduce the pollution on their land, naturally turn to the emergent countries, where they may not expect the heavy cost of the environmental damage. This essay will analyze how MNEs spread pollution in the host states, and how the host states should take actions to prevent their ecosystem from obtaining harm.
The impact of COVID-19 epidemic on Chinese stock market: based on the capital asset pricing model and Fama-French Three-Factor Model
Authors: Li Letian
Published: July 2022

According to macroeconomic theory, most investors usually focus on two factors when making investments: one is investment income, and the other is investment risk. In the research on the trade-off between risk and return, CAPM (capital asset pricing model) and Fama-French three-factor model are one of the representative research results in the history of financial development. This article will use these two models to analyse China's A-share market before and after the epidemic, and then study the impact of COVID-19 on China's capital market
Research on Longevity Risk and Its Relevant Issues
Authors: Li ManYao
Published: July 2022

China entered an aging society as early as 1999. With the constant improvement of death rate increasing average life expectancy and rapid decline of fertility rate, the aging problem is more and more serious, and the longevity risk in China’s pension system is increasingly emerging. This inevitably brings new challenges for insurance companies, pension fund and government. Therefore,many scholars at home and abroad carry out diverse research on issues caused by longevity risk, mainly including mortality prediction model and longevity risk measurement. The paper analyzed the longevity risk from the aspect of its identification, measurement and management, and preliminarily explored the financial derivatives and the management strategies to defuse longevity risk in order to offer relevant experience reference for further studies.