Proceedings of the 2023 2nd International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2023)

Conference name: Proceedings of the 2023 2nd International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2023)
Date: 28-30 July 2023
Location: Dali, China (Virtual)

With the rapid development of science and technology, the development and innovation in all domains become faster and faster. The field of economics, smart finance, and contemporary trade has also produced more research directions and new discoveries. Focusing on the latest research results in various aspects of that and other related fields, 2023 2nd International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2023) was held via virtual form in Dali, China, from July 28th to 30th, 2023.

ESFCT 2023 was created to build a forum to exchange and share successful experiences of innovation in the above fields and establish an effective cooperation platform for scholars from universities, research institutes, and enterprises. Focusing on such topics as Economic Management, Innovative Finance, Financial Securities, Trade Transformation, Globalization of Trade, etc., the Conference invited scientists, engineers, practitioners, and students from all over the world to exchange their current technical application experience and research results, so as to promote the development of related fields.

The entire Conference was in an online mode. First is about 3 hour’s keynote speech and next 4 hour’s oral presentation. Discussion and Question and Answer happened throughout the meeting. The professors and delegates presented papers and researches out of their own research domains and experiences. We had about 60 participants in the online platform and had a continuous stable Internet connection, conducting the virtual conference smoothly.

In the Conference, four renowned professors acting as keynote speakers shared their researches with us. Among them, Assoc. Prof. Hung Do from Massey University, New Zealand, whose research domains cover Empirical Finance, Energy Economics, Credit risk, and Econometrics, made a speech on Satellite-Driven Investor Attention and Stock Return Comovement. The research showed that under limited attentional resources, investors allocate their attention more to market-level shocks than firm-specific shocks, making stock returns to comove more with the market on satellite launch days compared to other days. It also showed that investors pay more attention to pioneering, failed, and manned launches, leading to larger increases in return comovement. Moreover, international aerospace competition seems to attract more US investors’ attention, especially during the Soviet period and for launches by Russia, China, and India, leading to higher return comovement. Finally, a simple strategy was designed to exploit the potential satellite-induced mispricing, which yields an abnormal return of up to around 17% per year within the three-day window around the launch date.

We would like to express our gratitude to all the participants for their fruitful work and excellent contribution to ESFCT 2023. Especially, we appreciate the enormous work of the editorial board and reviewers in the preparation of this volume. Also, our special thanks and appreciation go to Atlantis Press. Hopefully, all participants and other readers can benefit scientifically from the Proceedings and find it rewarding in the process.

The Committee of ESFCT 2023