Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)

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556 articles
Proceedings Article

Research on Entrepreneurship of Small, Medium and Micro-Enterprises

Based on Industry Chain Fintech

Shuchang Hu
Small, medium and micro enterprises are the main forces in ensuring market entities and employment. They play an irreplaceable role in promoting economic growth, promoting independent innovation, increasing national taxes, and stabilizing the employment rate. However, small, medium and micro-enterprises...
Proceedings Article

The Valuation Strategies of Artificial Intelligence Startups: The Investment Analysis of MEGVII

Zhuotong Chi, Zhiyue Liu, Chenyu Xia
The research shows the investment analysis of MEGVII from investors’ perspectives by using the POCD framework and SWOT analysis. From the development of artificial intelligence and the market in China, Megvii has sufficient potential for growth in the artificial intelligence market. AI is undoubtedly...
Proceedings Article

Impact of COVID-19 on Expected Return and Risks in “China Concept” Stocks Using CAPM Model: A Case Study of Alibaba and Haidilao

Li Chowing, Wang Yifei, Wu Yanxi
The COVID-19 has a great impact on the financial market, which has made the financial market more unpredictable. In order to measure the expected return and the risks of “China concept” stocks during this special period, Alibaba and Haidilao are selected as research objective in this case study. Based...
Proceedings Article

Cross-Border M&As of Chinese Firms——A Case of TCL

Zeshen Ye
Cross-border mergers and acquisitions are a common method for companies to expand the oversea business. As the economic development of the emerging counties, more firms in emerging market started to join the international market by cross-border M&As. After China joining World Trade Organization (WTO),...
Proceedings Article

Is All-Weather Strategy Underperformed During COVID-19? An Evidence from US’s Etfs Market

Feitong Shan
In 2008, Bridgewater’s all-weather strategy overperformed the market. Dario, founder of Bridgewater, and his team pioneered the all-weather strategy in 1996, and it’s been a huge success in practice. However, according to the daily report of bridgewater associate on March 18th 2020, the all-weather portfolio...
Proceedings Article

Study on the Strategic Development of Foreign Manufacturing Industry Under the Chinese Fad

Ruiyu Tang
After the trade war between China and America and the covid-19, there is a Chinese fad rise in China’s economy. The rise of fad is because the trade war and covid-19 build strong confidence of Chinese people. Chinese people begin to buy the goods produced by their own countries. This makes it a foreign...
Proceedings Article

The Hong Kong Consumer Voucher Scheme Attempts to Rehabilitate the Economy from the Shock of Covid-19 Pandemic

Xing Yu Zenith Yao, Haiwen Wu, Boyan Shang
The Consumer Voucher Scheme (CVS) is an unprecedented policy in Hong Kong that is implemented to aid the economy’s recovery from the Covid-19 pandemic. The CVS’s effectiveness is debatable in terms of its cost benefits analysis, since it accounts for a sizable budget in the sake of boosting consumption...
Proceedings Article

The Way Cross-cultural Brand Image Influences Customer Decision-making Process: Practice in China

Xuanyu Zhou
The rapid development of the clothing industry in the e-commerce environment had brought abundant opportunities for Chinese merchants, it also had caused problems in terms of cultural identity, culture conflicts, and culture integration, etc. Therefore, the relationship between consumer loyalty and brand...
Proceedings Article

Research on Internet Helping Traditional Manufacturing Industry

A Case Study of Sany Heavy Industry and Rootcloud

Junyi Xu
Industry 4.0 brings not only opportunities but also great challenges for enterprises. It is hard for those industries and companies who could not grasp opportunities and make good use of emerging technologies especially the industrial Internet of things to transform from traditional manufacturers to...
Proceedings Article

Prediction on Shanghai Composite Index Volatility with Day-of-week Effect, Volume and Turnover Based on HAR Model

Yingfa Zhang
The Shanghai Composite Index is the earliest and one of the most important indexes in Chinese stock market, which is calculated by capitalization market weighted average for all the stocks listed on Shanghai Stock Exchange. However, previous researches mainly use low- frequency-data-based GARCH-type...
Proceedings Article

The Impact of Technological Innovation on Economic Growth: Evidence from China

Xiaowei Wang, Lingwen Xu
The development of technological innovation has a significant impact on economic growth. Based on China’s data from 1990 to 2019, we study the impact of technological innovation on China’s economic growth. To solve this problem, this paper adopts theoretical mechanism analysis and empirical model research....
Proceedings Article

Analyze the Impact of REITs on the Irish Real Estate Market

Guolin Wang
In 2008, Ireland’s real estate bubble economy burst, which ushered in a real estate market crash and credit crisis in Ireland. The Irish government created the National Assets Administration (NAMA) to purchase bad real estate loans from banks to solve credit problems. In 2013, Ireland introduced the...
Proceedings Article

Value Investment Analysis Based on the U.S. Market - Taking Four Major Industries as Examples

Yilin He, Ling Xiang, Qiannan Xiong, Siyao Ye
Value investment requires investors to hold the suitable company stock at the right price to achieve a certain profit purpose. Scholars all over the world are enthusiastic about studying it. In this study, linear regression was used as the primary method and use P/E, P/B, ROE, ROA, EPS, debt-to-asset...
Proceedings Article

Analysis of the Innovative Drugs Market from the Aspect of Heng Rui

Jiali Chen
It is currently thought that the innovative drug sector has played a critical role in the listing and financing of high-tech firms. Affected by the outbreak of coronavirus pandemic, China’s pharmaceutical companies are expected to soar even more spectacularly, therefore this kind of pharmaceutical firms’...
Proceedings Article

Analysis of Short Video Marketing Strategy and Industry Trend and Suggestions to Uploaders

Ruihao Zhou
With the development of mobile Internet, mobile short video has become one of the main channels for people to obtain information. Short video marketing as a new marketing means, we can see its development potential in the 5 G era, but it is undeniable that there are still many loopholes in this industry....
Proceedings Article

The Correlation Between Desire Thinking and Compulsive Buying

Gisele Liu
In today’s developed society, purchasing is made easier than ever before with new technology and online stores, causing products to be more accessible to shoppers who spend excessively without control. Through a proposed experiment, this study investigates the effectiveness of desire thinking, a voluntary...
Proceedings Article

Stock Analysis Strategy for US’s Stock Market Based on Risk, Profitability, and Market Value Insights

Jiukun Chu, Yizi Jin, Han Zhang
As there has been a great improvement in citizens’ living standards, consumer discretionary is occupying a larger and larger market. This article is trying to analyze some big consumer discretionary companies through their recent performance on the stock market. There are nine companies, which are Kweichow...
Proceedings Article

Study on Evaluation of the Level of Enterprises Management and Choice of Business Strategy from Enterprises Annual Financial Statements

Take Alibaba for Example

Yihai Liu, Peiyi She, Xinyi Wang, Jiaqi Yang
With the fast development of internet technology, new and large scaled e-commerce enterprises that highly integrate internet technology and financial instruments have rapidly developed in recent years. For these e-commerce enterprises, their daily accounting processing and the structure of external financial...
Proceedings Article

The Impact of Environmental Regulation on Technological Innovation of Automobile Industry in China’s Market- A Case by Tesla

Yue Du
With the negative externalities of the development of the automobile industry increasingly obvious, the government’s environmental regulations will force the technological innovation of the automobile industry, the case of Tesla. The paper collects the R&D investment data, environmental regulation...
Proceedings Article

Board Gender Diversity and Corporate Financial Investment: Evidence from China

Yiwei Kong, Xuhui Liu, Chengxi Xie, Tianyi Zhuang
We investigate the impact of board gender diversity on corporate financial investment. The results show that the board gender diversity in China is negatively correlated with corporate financial investment. This association is robust to a series of robustness checks, including fixed firm-effect models...
Proceedings Article

System Management Innovation

Feiyang Xu
With the development of the world economy, the competition between countries and enterprises is becoming more and more intense. With the development of large enterprises, more and more concentrated in enterprise innovation ability, and enterprise innovation management is the most important link in the...
Proceedings Article

China’s Ability to Alleviate the Problem Associated with Carbon Tax Through Conditional Cash Transfers

A Case Study of Shanghai

Yingying Zheng
Nowadays, to alleviate the problems caused by carbon dioxide, governments distribute kinds of carbon tax policies. Conditional Cash Transfers (CCTs) are a critical component of the distributional effects around carbon taxes and contribute significantly to their alleviation. Recent studies related to...
Proceedings Article

The impact of biotechnology and pharmaceutical industries on regional economies during the epidemic period

Yinuo Li
The COVID-19 pandemic has had a huge impact on the global economy. Most of the region’s “non-essential” businesses were ordered to shut down by the government. Also, only necessary productive activities were allowed to operate, so most of the region’s GDP was kept below. In that case, biotechnology and...
Proceedings Article

Analysis on Chinese Economic Development Under Post-Financial Crisis Environment Based on IS-LM Model

Jiaxuan Wang
After the subprime mortgage crisis occurred in the United States, the worldwide financial turmoil not only resulted in a series of serious negative consequences in the global financial field, but also brought a relatively big impact for our country’s economy. In order to response the global financial...
Proceedings Article

Bidder and Seller Strategies in Online Auctions: A Review

Audrey Elizabeth Wen, HoiYat Wong
Since the 1990s, online auctions, as well as e-commerce in general, has boomed. The COVID-19 pandemic this year has further led to an increase in online transactions, making the topic of online auctions as current as ever. This paper summarizes and compares existing research on the strategies for bidders...
Proceedings Article

The Impact of COVID-19 on Soccer Economy

Ruizhe Wang
2020 originally was a year for sport games, Europe Cup in June and July, Olympics in August. However, everything stopped all of a sudden. In the beginning of the year, coronavirus, also known as COVID-19 hit China and soon speared to all over the world. Soccer, the largest sport game in the world was...
Proceedings Article

Bargaining Power, Concentration Ratio and Cash Holding: Empirical Evidence from A-Share Listed Firms

Yi Zhang
Suppliers and customers are important stakeholders of firms, and their bargaining power affects the decision-making of firms. influence of its bargaining power on the level of cash holdings of firms. Through the analysis of the data of manufacturing, information transmission and science and technology...
Proceedings Article

CVM Model of Customer Purchasing Behavior Based on Clustering Analysis

Rui Zhao
At this time, companies progressively gain revenue from their long-term relationship customers. Many online retailers are earger to practice data analysis and CVM in businesses. However, many companies lack expertises to do so. This paper will present how to use data analysis in business cases. The main...
Proceedings Article

Challenges and Opportunities for the Beauty Industry during the Pandemic

Xinyi Jiang
In early 2020, the outbreak of Covid-19 stopped billions of Chinese people from working and travelling. All citizens except doctors and nurses are required to stay at home. Some of factories and companies couldn’t fight the pressure and finally had to go bankrupt, others tried hard to survive, and the...
Proceedings Article

Impact of Investors’ Loss Aversion and Overconfidence on Market Performance Evidence from China Stock Markets

Hu Yiwen
This paper proposes a research that aims to answer how the loss-aversion and overconfidence treated as potential investor biases can potentially affect the performance of the listed companies operating in the market. This paper examines how loss aversion of investors influences the companies’ performance...
Proceedings Article

Study on Precision Marketing Strategy of Foreign Trade Corporation

Kunyang Li, Jiahan Meng, Yuxiang Wang, Guanyi Xu
China’s garment enterprises have continued to grow in the past fifteen years and contributed significantly to the economy. However, with the development of the garment industry, many problems appeared. First, although the minimum wage has increased in recent years, it is more difficult for garment corporations...
Proceedings Article

The Research on the Investment Value of Online Fitness App in China

Taking Keep as an Example

Qikai Wang, Xiaotong Yin, Siying Zhu
Nowadays, more and more people prefer to use online fitness app rather than go to fitness room, when they want fitness. As the product of a combination between the technology industry and the fitness industry, the online fitness app is changing people’s fitness habits from the traditional way. Other...
Proceedings Article

Using Fama-French Five-factors Model to Analyze the Impact of COVID-19 on U.S. Medical and Health Industries

Chuyan Wang, Zichun Wu, Yi Yang
Asset pricing theory is one of the most important topics in financial economics. It attempts to explain the asset price or value paid in the future under uncertain conditions. This paper aims to analyze the pharmaceutical market before and after the outbreak of the covid-19 epidemic and explore its possible...
Proceedings Article

The Development and Usage of NPV and IRR and Their Comparison

Yi Wang
Net present value (NPV) and internal rate of return (IRR) are two popular capital budgeting techniques in the modern economy. Almost all finance textbooks included these two concepts. The paper presents a review of NPV and IRR from the following perspectives and aims to provide a general understanding...
Proceedings Article

Analysis on investment decision of start-up company Based on POCD framework: the case of Naixue’s tea

Shirui Che, Mirui Zuo
In recent years, multiple startups have been found all around the world. Most of them need to be invested from VC to support their development. However, only a few startups grow into valuable companies that can bring money to investors, which means they need to assess the potential risk of startups....
Proceedings Article

People’s Consuming Concept in Different Ages

Zhi Zhou
People’s consumption concept is usually related to their birth environment. In the past 40 years, China has experienced rapid economic development and tremendous changes in society, which has also triggered a huge change in people’s thinking. Therefore, Chinese people born in different ages have huge...
Proceedings Article

Impact of Price Framing on Consumers

Xinyu Weng
The manner, in which prices are presented to consumers, as well as their categories, has a great impact on consumers’ behaviour. The main reason behind this phenomenon is that consumers tend to take ‘shortcuts’ when choosing between competing alternatives, be it products or services. As much as price...
Proceedings Article

Understanding the Impact of the Visual Aspect of Coca-Cola China Has on Chinese in the Chinese Market and the Influences on Their Intention Behavior

Yijin Zhao, Jingzhi Xu
Coca-Cola won the place for itself in the Chinese market as a global brand. Its successful marketing strategy led to the brand being successful in China worth researching and learning. The purpose of this study is to explore how Chinese purchasing intentions are influenced by the Chinese elements (packaging...
Proceedings Article

Industrial Expansion and Brand Empowerment of Intangible Cultural Heritage Technologies Under the Background of Industrial Science and Technology

Taking “Jiangxi Enda Linen Co., Ltd” as an Example

Qinxuan Wang, Han Liu, Jingjing Chang
Jiangxi Xinyu fenyi is known as the “hometownship of Xiabu in China”. It is related to its unique ramie planting environment and cultural and historical heritage. At present, Xiabu has the highest output in Jiangxi, and as a labor-intensive industry, it relies on the development of modern industrial...
Proceedings Article

Comparison of Different Investment Decisions Linked with Discount Rate

Siting Zhang
Millions of companies make their investment decisions every minute in the world. They evaluate which projects can bring the most benefits or cost the least to them and then invest in these profitable projects. Hence, companies must have one or more practical and useful investment evaluation methods to...
Proceedings Article

A Multimodal Discourse Analysis on the Reports of China’s First Gold: A Comparative Study of BBC and VOA

Liukexin Cheng
Finding that there are little comparative studies of multimodal discourses, this research intends to provide a case study of this field, making a comparison and contrast between two multimodal discourses and analyzing their attitudes through their visual designs and recontextualizations. Recently, a...
Proceedings Article

The Distribution Inefficiency of Medical Resources in China: A Literature Review

Hu Haojin
Contemporarily, the distribution inefficiency of medical resources in China is a dramatical issues puzzling the Chinese government. In this paper, the issue will be reviewed detailly with corresponding suggestions in terms of handling the problems. Specifically, the progress in last decade of such issue...
Proceedings Article

Construction of Distribution System of Coronavirus Based on Talmud Bankruptcy Distribution

Mengdian Hong, Ruoying Li, Peiran Xie
At present, the world is suffering from COVID-19, and many countries do not have the conditions to develop a vaccine. Countries that are without the COVID-19 vaccine are still at risk of a worsening epidemic and potential sequelae, people are dying because of inadequate medical resources and medical...
Proceedings Article

Evaluation for Ant Financial Group’s Investment Value Based on POCD analysis

Zijian Ma
In recent years, Internet finance has flourished and has a considerable market. Therefore, more and more people want to invest in this industry to make money. Among the many Internet finance companies, Ant Financial is the most attractive to investors. The subject of our research is the feasibility of...
Proceedings Article

Research on Lego Multi-channel Development: Success and Improvement

Yushan Cong, Chuanze Liu, Jinjin Qian
Nowadays, many people think that our world is surrounded by entertainment step by step, especially for children. When customers go to the supermarket, Lego is one of the most popular toys. Therefore, detailed research was conducted about Lego’s business model analysis. As a large toy company controlling...
Proceedings Article

Value Investment Under the Effect of COVID-19

WenLan Fan, TingGuan Wu, Qing Deng
The impact that COVID-19 brought to the global economy has not yet been eliminated, especially for the retailing industry. At this new stage, we apply the value investing method to analyze investment opportunities in the post-epidemic era. [1] This research will use cases from three companies: PepsiCo,...
Proceedings Article

Online Real Estate Worth Investing in or Not

A case study on reAlpha Company

Gang Hai, Zhenghan Yang
This paper discusses whether the current development of real estate companies is worth investing in. In this study, the company “reAlpha” is used as an example to study whether more advanced technology can help the modern real estate industry get more investment prices. First, the discussion of this...
Proceedings Article

Chinese Macroliquidity System and Comprehensive Liquidity Index

Wenhao Lai
Macroliquidity means the amount of money in the economy which allows the markets function efficiently. It not only reflects the financing difficulty of the enterprise, but also the amount of the supply and demand for funds. In general, it is a pretty important variable to reflect the economic macroscopic...
Proceedings Article

Digital Transformation and Ecosystem of Smart Pillows

Xingyu Liu, Shijia Yin, Yi Li, Fei Wu, Ziyue Zhu
This paper discusses how smart pillows relate to and benefit from digital platforms and ecosystems. With increasing demand for products that improve quality of life, many firms are focusing on products that improve the quality of our sleep. Modern digital technologies make it possible to expand the functionalities...
Proceedings Article

Investigation of the Valuation Model and Asset Allocation Based on Duration

Yuchen Liu
Valuation is an important part of asset estimation and allocation, which are utilized in previous studies to evaluate the value of investment based on different models. In this paper, the duration is investigated as a valuation model in order to access the efficiency in asset allocation and is compared...
Proceedings Article

Learning from the Past Ten-Year Effects of Economic Cooperation Framework Agreement (ECFA)

Kemo Chen, Linfeng Jiang, Haohong Liang, Weixi Su, Yuyuan Wang
This paper aims to study the impact of ECFA on the import and export of goods between the mainland in China and Taiwan, which is of great significance to explore its improvement measures and future development trend. To figure out the problem, this paper focused on the two stages of the development of...
Proceedings Article

The Analysis of Digital Finance and Digital Inclusive Finance

Discussion on Impact, Problems and Suggestions

Wenge Zuo
In recent years, digital finance has developed very rapidly. With the development of social economy, the society should strengthen the understanding of Inclusive Finance and further promote the practice of modern Inclusive Finance. The development of traditional inclusive finance faces the problems of...
Proceedings Article

The Influential Factors on Consumer Purchase Intention for Organic Food in China

A Case Study on Bei Da Huang Organic Food Company

Haichuan Ding, Haiyun Li, Xinyi Liu
The outbreak of COVID-19 has had a great impact and change on people’s lives. It has also caused people to pay attention to food health. As a new industry in the era of environmental protection, organic food has gained the favor of consumers. This study investigated the factors that influence consumers’...
Proceedings Article

Exploring the Digital Age: The Carrying Capacity of Virtual Reality Technology for Historical and Cultural Heritage

Sizhe Li
This paper discusses the role and influence of virtual reality (VR) technology on historical and cultural inheritance under the background of the digital age. The essential feature of VR is to enhance users’ perceptions and experiences by immersing users in the virtual world. It greatly promotes the...
Proceedings Article

Research on the Tourism Development of Traditional Villages in Leizhou Peninsula from H-I-S Perspective

A Case Study of Chaoxi Village in Leizhou City

Jinfeng Zhong, Wan Wu, Meiling Liu, Yuchen Zhang
Moderate development of the tourism industry is an effective way to revitalize traditional villages. However, most of the traditional villages in the Leizhou Peninsula, Guangdong are facing difficulties in their development, represented by the Chaoxi Village in Longmen Town. Although the village boasts...
Proceedings Article

New Path of Media-based International Communication in Mobile APP under Computer Background

Zhengzhi Jia
Under the background of world economic integration, China’s economic exchanges with other countries in the world are becoming closely. As China’s strength on the world stage to enhance, China’s stain is becoming strong. In order to establish China’s image and transmit China’s voice, the construction...
Proceedings Article

Influencer Marketing for Start-ups: The Rise of Micro-influencers

Qianhui Wei, Qinshao Dai, Yudong Liang
Social media influencers have been utilized by many companies as a marketing method for the past decade. The benefits of micro-influencers, the group of influencers that have a relatively smaller following size, are often underestimated. In this paper, we will explore the effect of micro-influencers...
Proceedings Article

Analysis of COVID-19 on Resource-related Industries

Based on Fama and French Five-Factor Model

Jinhan Meng, Shuwen Wang, Jingliang Wu, Baoqing Zheng
CAPM model and Fama-French model are frequently used in the field of the portfolio. This paper will discuss the application of the Fama-French five-factor model in the impact of COVID-19 on four industries dominated by commodities and give possible reasons. To study the outbreak’s impact on the gold,...
Proceedings Article

The Impact of the COVID-19 on Private Equity

Yuehan Chen, Wenlong Yang, Lizhi Zhang
The COVID-19 are disruptive events that have profound consequences for the global economy. Based on this starting point, this paper aims to present an analysis of the economic impact of the COVID-19 on the private equity (PE) firms and the industry and discuss what adjustments they have adopted to respond...
Proceedings Article

Research on Enterprise Platformization Based on Organizational Structure Reform——Taking SF Express as an Example

Jingyi Shi
With the rapid development of information technology oversetting more and more industries, platformization has become an important trend to transform and upgrade for enterprises. Related to the survival and development of enterprises, it also provides sustainable power to create more value. However,...
Proceedings Article

The Impact of Covid-19 on U.S. Car Industry Based on Fama-French Five Factor Model

Li Bai
Asset pricing model reveals the relationship between expected return and risk associated of the portfolios for investors during the investment decision-making process. Concepts (e.g., the correlation of different variables and the growth or decline of the portfolio) are quantified in different models...
Proceedings Article

Correspondence Between Constructive Real Numbers and L Number in Constructive Mathematics

Xin Shen, Yiding Huang, Shixiang Wang
In a broad sense, construction real number is a constructable real number, relative to the set of some construction methods. This essay mainly focuses on the left numbers in constructive analysis. After introducing the basic context and conditions in Constructive Mathematics, connections between concepts...
Proceedings Article

A Comprehensive Study of the Reasons for Underpriced IPOs

Kelai Wang
The paper reviews mainstream explanations of the underpricing of IPOs and aims to locate the most logical explanation among both existing literature and hypotheses to be corroborated. The author divides current literature into two groups, informational explanations and non-informational explanations....
Proceedings Article

Investigating the Market Strategy of Smart food’s latest product based on Business Analysis Models

Baoyi Jiang
The purpose of this paper is to evaluate the profitability potential for a new low-carbohydrate snack and predict its future market condition. By applying the PEST model, Porter’s five forces model, and SWOT model, I analyzed the market condition from both external and internal factors that would impact...
Proceedings Article

Marketing Strategies in Times of Crisis Exploring More Digital Strategies in Luxury Industry

Rui Cheng, Jianyi Zhu, Xiuheng Zhu, Churui Zhang
With the outbreak of covid-19, digital marketing has become a turning point for the phenomenon of luxury offline activities being blocked. Marketers and consumers are paying more attention on this emerging marketing approach from traditional mass. In order to understand how luxury goods continue to use...
Proceedings Article

The Nirvana of the US Clothing Industry After COVID-19

Based on the Fama-French Five-Factor Model

Ding Gu
In 2020, the global spread of COVID-19 has brought a huge impact to the international financial market and destroyed many industries. This paper applies Fama-French five-factor model to analyze the effect of COVID-19 on the clothing industry. Based on the data from Kenneth R. French’s database, this...
Proceedings Article

The Validity of CAPM: A Critical and Conclusive Study with Empirical Evidence from the UK Security Market

Siman Peng
CAPM is a fundamental asset pricing model that has complex viewpoints from scholars. The validity of CAPM is essential for the market participants, as many of their decisions will be based on the securities’ estimated returns. This paper aims to give a more comprehensive discussion of CAPM and test its...
Proceedings Article

Study on the Development Status, Risk Problems and Countermeasures of Internet Consumer Finance in China

Dan Hu
With the continuous development of science and technology and the continuous improvement of the financial market, Internet consumer finance has attracted many users resulting in its obvious advantages of convenience, quickness and wide coverage, which has greatly enriched the types of Internet financial...
Proceedings Article

A Sorting Strategy for Alpha Based on ROE Linked with Global Financial Market

Shenkai Wu
Finding sorting variables for alpha is crucial in investing stocks. The alpha, also referred to as abnormal return, measures the investment strategy’s ability to beat the market. It is the part of portfolio return that the existing model cannot explain. Return on equity (ROE) is one of the key factors...
Proceedings Article

The Theory and Development of Business Ecosystems

Ruijiong Gao
As a kind of ecosystem, the composition of the commercial ecosystem must be intertwined with each other, just as the natural ecosystem can extend to the natural environment of the outer planet and can be subdivided into a specific chemical element. The commercial ecosystem is endless. Understanding the...
Proceedings Article

Analysis on the Influence of COVID-19 on International Financial Market Integration and the Improvement of Climate Finance

Yaqi Zhang
The Coronaviruses virus become the most concerned topic nowadays since it is first discovered by people. Whether it is in terms of health or economy, the severity of the Coronaviruses virus brings unprecedented blows to the economies of many countries, but it only has a negative impact on the economy,...
Proceedings Article

Research on Sustainable Product Design Strategy in Sharing Economy in Post Epidemic Period

Qi Song, Wanyi Li
The allocation model of economic resources with the goal of sharing has gradually formed a sharing economic ecosystem in China and played an important role in the development of green economy. COVID-19 has brought a heavy blow to the new economic industry. The digitalized enterprises have ushered in...
Proceedings Article

Experiential Marketing of L’Oréal in China: A Case Study Based on Consumer Behavior of Chinese Female University Students

Bingchan Xia, Minxuan Han, Yunxi Zhu
Contemporarily, cosmetic consumption of Chinese female college students is becoming larger and larger. Experiential marketing is used extensively to attract young people. As a French company, L’Oréal (L’Oreal) is successful in the Chinese market and in implementing experiential marketing. This article...
Proceedings Article

A Comparative Analysis of the Credit Rating System Between China and the United States

Xinrui Li
China’s bank credit rating system, as one of the main aspects of bank control, has not yet met the international requirements for accurate measurement and effective management of credit risk, and is in urgent need of reform and improvement. Based on the relevant theories of bank credit rating, this paper...
Proceedings Article

Bidding Strategies in Online Art Auctions with Buyout Prices

Peize Dong
Online art auctions with buyout prices are extensively applied as a modified form of art auctions for breaking the limit of fixed time auction ends and combining fixed-price selling with English auctions, while numerous problems exist in the real process of these auctions since reliable information on...
Proceedings Article

Policy Performance Analysis of Six Stability and Six Guarantees Based on Empirical Analysis

Yuchen Liu, Yunyi Qi
In recent years, China’s international situation is tense and will be affected by the Novel coronavirus in 2020. In this context, the government has put forward a policy of six stability and six protection, that should ensure the stability of employment, finance. At the same time should also implement...
Proceedings Article

Research on Building Industry in U.S. Stock Market during COVID-19

Yiwa Lai, Feiming Qiu, Wenkai Xu, Yujing Yang
The pandemic caused by Covid-19 has created a severe global economic recession and destroyed many industries since it broke out at the beginning of 2020. However, many companies in construction material industry had an outstanding performance last fiscal year. This paper applied Fama-French five-factor...
Proceedings Article

Analysis of Internet Celebrity Brand Marketing Strategy

The Example of Nayuki’s Tea

Yibo Wang, Xiwen Cui, Wenxuan Zhou
With the rapid development of the Internet and economy. Internet celebrity brands have become a new generation of large economic systems. This article uses a case study method to select the Internet celebrity brand Nayuki’s tea to discuss the marketing strategy and analyze all the same Internet celebrity...
Proceedings Article

Fin-Tech and Corporate Innovation

Evidence from China

Shuo Huang
Can Fin-Tech improve corporate innovation? Using the data of Chinese listed companies, this paper studies the impact and mechanism of financial technology on corporate innovation. The empirical results show that the development of financial technology has significantly improved the innovation performance...
Proceedings Article

The Influence of “Double 11” by Anchoring Effect

Shuaitong Li
Under double 11activities, people’s desire to consume becomes very strong, and the turnover of each network platform is much higher than usual. Why can the activity Double 11 be so successful? The author analyzes this topic through literature review. The research data come from other people’s papers....
Proceedings Article

The Influence of Advertising Co-creation on Brand Building on the Perspective of Value co-creation Theory

Run Tan
The traditional concept of value creation holds that value is an one-way output by enterprises to consumers, and consumers are only responsible for the acceptance and use. However, with the development of network economy and the diversification of marketing communication, the subject of value creation...
Proceedings Article

Research on the GameStop Stock Prices Surge during Covid-19 under the Perspective of Individual Investors

Yilin Zhao
The breakout of the covid-19 in the United States has caused significant changes in the stock market, while the proportion of individual investors’ direct trading increases. The recent Game Stop(GME) short-selling incident showed the power of retail investors, which makes people pay attention to the...
Proceedings Article

Marketing Strategies Based on the Analysis on the Features of Tool Knives

Xinglin Li
As the demanding number of descent knives grow, knives are great deal in the business market. According to a sanding gear selling company [1] Red Label Abrasive’s survey report of 100 knife maker, “ the survey indicated that the industry appears to be in good financial health. 73% of knife makers have...
Proceedings Article

Inflation in the US During Covid-19 Crisis: Cause, Current Status, and Moving Forward

Chenyu Li
This paper makes a through-out interpretation of the inflation hikes witnessed in the United States during the Covid-19 pandemic crisis. This paper incorporated economic theories and data in explaining the economic phenomenon during the pandemic crisis and predicting the future trend of inflation. The...
Proceedings Article

How Do Managers Hedge Against Oil ETFs in the COVID-19 Pandemic?

Yuhan Gao, Yi Wang, Yongxi Wang
During the COVID-19 pandemic, the oil price fluctuated significantly due to dramatic changes in oil supply and oil demand, which leads to high volatility in oil-related assets and induces an urgent need to alleviate risks. We use a market neutral strategy to assess the results of hedging against oil...
Proceedings Article

Why are Chinese High-school Girls Anxious About Their Appearances?

Zihan Yang, Honggu Zhou
Appearance anxiety has already become a common phenomenon in today’s society. Some high school girls begin to worry about their appearances and even feel anxious about the narrow definition of beauty and the influences of other people. This study utilizes online questionnaires to explore high school...
Proceedings Article

Influence Mechanism of Bilili Gourmet Videos on User Interaction Intention

Gai Wenxin
Bilibili has a unique user interaction mechanism. From an empirical point of view, this paper conducted in-depth interviews with users watching Bilibili food videos, putting forward the research hypothesis and model of this paper, and designed a questionnaire, analyzed the influencing factors of user...
Proceedings Article

Explore the Factors That Influence and Mitigate Loss Aversion

Zixuan Ye
Loss aversion is another theoretical cornerstone of Kahneman and Tversky’s prospect theor, which has been applied by behavioral economists in many fields such as consumption decisions, production/supply, investment[1]. Benartzi and Thaler first tried to explain the mystery of equity premium by using...
Proceedings Article

The Strategic Choice of Hangzhou to Cultivate the World Advanced Manufacture Industry Cluster

Haiyan ZHOU
The world advanced manufacture industry cluster is the advanced manufacture network with the same target and mutual benefit, integration and connection, which is established on basis of the professional work division requirement, and could occupy the industry highlands worldwide. The cultivation of the...
Proceedings Article

Research on the Impacts of Covid-19 on U.S. Medical Industry Based on Fama-French Five Factor Model

Yunqi Huang, Yi Li, Ruolin Wang, Haoran Zhao
Under the dramatic impact of Covid-19, the global economy has decreased sharply, and many countries have experienced negative economic growth during the pandemic. This study uses Fama and French Five-Factor model to investigate the reasons causing these changes and provide referential suggestions on...
Proceedings Article

A Study of the Impact of Chinese Star Cai Xukun Starring in the Prada Commercial Code Human on Chinese Young Consumers

Ji Shenran
Prada is an Italian luxury brand founded in 1913 that offers high-quality leather goods, clothing, and footwear for men and women. On May 31, 2019, Prada’s official Weibo announced that the famous Chinese singer Cai Xukun became its Chinese spokesperson. Cai Xukun is a singer and actor who is popular...
Proceedings Article

Strategic Management and Financial Analysis in the Context of Epidemic -- A Case Study of Coca-Cola Company

Hongshan Geng, Nanyi Jiang, Qianwen Liang
The subject of this article is to analyze the financial statement and corporate strategy of Coca-Cola (referred to as KO) Company during the COVID 19 epidemic. The two main analysis methods are quantitative and qualitative analysis. The quantitative analysis uses ratios and Dupont to analyze Coca-Cola’s...
Proceedings Article

Research on the Current Situation and Future Trend of Web Celebrity E-commerce Live Streaming Industry

Jinqi Zhang
This paper first explains the specific definition of live e-commerce, and further combs the development process of the industry. In terms of current situation, the author analyzes China’s online Red economy live e-commerce industry from both sides of demand and supply. On the demand side, this paper...
Proceedings Article

Research on the Relationship Between High Tech Company Stocks & Investment

Take Workday Company for Example

Jiayi Chen, Shuyi Li, Junye Liang, Kunru Yi
This paper presents a stock investment strategy that can be applied relatively effectively under the current situation. We propose to design this recommendation based on the analysis of three main fields: finance, economics, and marketing. We examine and identify the damage extent of COVID-19 towards...
Proceedings Article

The Global Trade Under the Circumstance of Pandemic——Taking China as an Example

Haoqing Yang
During the pandemic, the global trade has been affected a lot. Under the circumstance of the pandemic and the decreasing gross value of global trade over the world, China’s foreign trade has increased in 2020. The research has examined mainly on China’s foreign trade in order to analyze the causes and...
Proceedings Article

The Influence of American Consumption Habits on the Theft of American Credit Cards

Mengling Wei
Credit card payment has been flourishing in marketing transaction in the United States for decades, while variety of consumer behavior and digital development bring about new impacts on financial theft. The gender, the credit card knowledge, and country-based institutions would be some significant consumptions...
Proceedings Article

Analysis of Synergistic Effect Based on Regional Fintech and Regional Inclusive Finance

Lin Luo, Chuanhao Wei, Ruijie Xu
Fintech not only brings impact to the traditional inclusive finance, but also provides a new direction for its development. There is a synergistic effect between them. This paper selects several fintech and inclusive financial indicators to reflect the order parameter and uses AHM (Attribute Hierarchy...
Proceedings Article

Research on the Evaluation Index of Digital Transformation Level of Manufacturing Enterprises

Le Zhang, Juhong Chen
Digitalization is the way for manufacturing enterprises to achieve transformation and upgrading, and there is no unified standard for how to assess the level of digital development of manufacturing enterprises. Based on summarizing the existing research on the degree of digital transformation of manufacturing...
Proceedings Article

Does Internal Control Reduce Firms’ Stock Price Crash Risk? Evidence from China

Siru A, Zefeng Huang, Junhao Wang
Under a unique setting in China, the success of internal control is dependent upon whether the informational and disciplinary role it serves effectively manages risks. Using the data from the China Stock Market & Accounting Research database and Dibo databases, the relationship between internal control...
Proceedings Article

Industrial Internet Based on Value Co-creation Theory Platform Ecosystem Innovation Strategy Research

Take Zhejiang Bluetron’s supOS as an Example

Hu Qiantao, Wang Jiexiang
Industrial Internet is the core of intelligent transformation of China’s manufacturing industry, and the implementation of intelligent manufacturing and the construction of industrial Internet platform services is also the main direction of digital transformation development of manufacturing industry....