Proceedings of the 2nd International Conference on Business and Policy Studies

This proceedings volume contains papers accepted by the 2nd International Conference on Business and Policy Studies (CONF-BPS 2023), which are carefully selected and reviewed by professional reviewers from corresponding research fields and the editorial team of the conference. This volume presents the latest research achievements, inspirations, and applications in applied economy, finance, enterprise management, public administration, and policy studies. CONF-BPS 2023 was a hybrid conference that includes several workshops (offline and online) around the world in Cardiff (Jan, 2023), London(Feb, 2023) and Sydney (Feb, 2023). Prof. Canh Thien Dang from King's College London, Prof. Arman Eshraghi from Cardiff Business School, and Prof. Kristle Romero Cortés from UNSW Business School have chaired those offline workshop. Contents Crew Scheduling Problem: Integer Optimization Using Set-Covering Model 1 Introduction 2 Background and Problem Set-up 3 Constraints 3.1 Regulatory Constraints 3.2 Temporal Constraints 4 Methodology 5 Formulation 5.1 Decision Variables 5.2 Set-partitioning Problem (SPP) 5.3 Set-Covering Problem (SCP) 5.4 Equations 6 Solve the Integer Program 7 Discussion and Conclusion Appendix A: Appendix B: Appendix C: References Research on Business Management Based on New Retail Model: The Case of Yonghui Supermarket 1 Introduction 2 Analysis on Yonghui Supermarket’s Management 2.1 Supply Chain Management of Yonghui Supermarket 2.2 Cost Management of Yonghui Supermarket 2.3 Issues on Supply Chain Management and Cost Management 3 Recommendations 3.1 Reduce Inventory Backlog 3.2 Improve Enterprise Information Management 3.3 Improve Store Operation Efficiency 4 Conclusion References Supply Chain Management—A Case Study of Huawei’s Supply-Chain Chip Shortage 1 Introduction 2 Definition of Concepts 2.1 Automation 2.2 Blockchain 3 Role of Huawei’s Global Supply Chain in Supporting its Competitive Advantage 3.1 Reverse Logistics 3.2 Distribution Channels of Huawei 4 Future Challenges of Huawei’s Global Supply Chain and their Implications 5 Conclusion References The Effect of Manufacturing Employment Changes on County-Level Partisan Voting Shares in the US Presidential Elections: An IV Analysis 1 Introduction 1.1 Research Background 1.2 Research Motivation and Aim 2 Employment Change and Political Elections in the U.S. 3 Methodology 3.1 Empirical Approach 3.2 Data and Measurement 3.3 Data Analysis Method and Classification 4 Findings and Discussions 4.1 Findings 4.2 Discussions 5 Conclusion Appendix References Research on the Regulation of Internet Finance in Shanghai 1 Introduction 2 Internet Finance Regulation in Shanghai 2.1 The Development of Internet Finance in Shanghai 2.2 Regulation of Internet Finance in Shanghai 3 Shanghai Internet Finance Regulatory Model 3.1 Implementing Sectoral Regulatory Responsibility 3.2 Creating a Unified Standard Data Regulatory Repository and Building an Orderly Network of Local Financial Institutions Platform 3.3 Implementing the “Double Random, One Public” Supervision Model 3.4 Promoting the Credit System of Market Players 3.5 Relying on the Free Trade Zone to Promote the Development of Internet Finance 4 Problems with the Regulation of Internet Finance in Shanghai 4.1 Regulatory Efficiency Needs to be Improved 4.2 Inadequate Regulatory System 4.3 Inadequate Risk Control System 4.4 Information Security Cannot be Guaranteed 5 Suggestions for Optimising the Regulation of Internet Finance in Shanghai 5.1 Strengthening Network Information Security Protection 5.2 Enhancing Information Disclosure 5.3 Improving Laws and Regulations Related to Internet Finance 5.4 Establishing a Sound Risk Assessment System 6 Conclusion References The Empirical Analysis of ESG Index and Enterprise Investment Value Based on Different Regions 1 Introduction 2 Literature Review 3 The Impact of ESG on the Business Operation within the Company 3.1 Data Sources and Processing 3.2 Variable Formulation 3.3 Model Building 3.4 Empirical Results 4 Design of Panel Data Based on Different Regions 4.1 Data Sources and Processing 4.2 Model Building for Panel Data 4.3 Empirical Results of the Relationship Between Firm Value and ESG Score in Different Regions 5 Conclusion References Inflation-Related Factors Enhanced LSTM-Based Multivariate Time Series for Stock Market Forecasting 1 Introduction and Motivation 2 Related Work 3 Data Analysis 4 Methodology 4.1 LSTM 4.2 LSTM Multivariate Time Series Stock Price Forecasting Model 5 Analysis of Results 5.1 Data Construction 5.2 Evaluation Methods 5.3 Experimental Setting 5.4 Experimental Results 5.5 SSE and Single Inflation Factor 5.6 SSE and Double Inflation Factor 5.7 SSE and Triple Inflation Factor 5.8 SSE and All Inflation Factors Combination 6 Conclusion References How does the Reputation of Venture Capital Impact on Financial Constraints? 1 Introduction 2 Hypothesis 2.1 Sustainable Investment Model 2.2 Venture Capital Reputation and Certification 2.3 Venture Capital Reputation and Agency Cost 3 Variables Selection and Model Design 3.1 Model and Variable Description 3.2 Financing Constraints (Dependent Variable) 3.3 High Reputation Venture Capital (Independent Variable) 4 Regression and Analysis 4.1 Basic Model 4.2 Robustness: Cash-Cashflow Model 4.3 Endogeneity 4.4 Mechanism 4.5 Further Research: Venture Capital Reputation and Capital Availability 5 Conclusions and Policy Recommendations References Sustainability in Chinese Investment: How Chinese Investors Perceive the Benefit and Liabilities of ESG Rating of New Ventures 1 Introduction 2 Theoretical Background 2.1 Sustainable Theory 2.2 Stakeholder Theory 2.3 Category Theory 2.4 ESG Facilitate Responsible Investing Development 3 Uncertainty Within the Early-Stage Entrepreneurial Investment Process 4 Examine how ESG has Begun to Shape Investment Decisions in the Separate Context of China and SMEs 5 Research Methodology 5.1 Sampling 5.2 Interview Questionnaire 6 Findings and Analysis 6.1 Data Coding 6.2 Findings Analysis 7 Discussion 7.1 From Benefits 7.2 From Liabilities 8 Limitation and Conclusion References Analysis and Research on Sri Lanka’s National Bankruptcy under the Superposition of Triple Backgrounds 1 Introduction 2 Literature Review 3 First Background: Unresolved Domestic Economic Problems 3.1 Civil War and Recession 3.2 A Tale of Two Deficits 4 Second Background: Three Policies Wrongly Implemented by the Government 4.1 A Series of Tax Cuts 4.2 Speed up Money Printing 4.3 A Bold Policy: Organic Farming 5 The Third Background: COVID-19 and Russian-Ukrainian War 6 Conclusion References Disputes Along the Belt and Road and How to Improve the Dispute Resolution System with Diversified Mechanisms 1 Introduction 2 The Existing Dispute Resolution Mechanisms in the Belt and Road and International Law 2.1 How Disputes are Resolved in the Belt and Road 2.2 Dispute Resolution Mechanisms in International Law: Not all are Available in the BRI 3 Inadequacies in the Existing Dispute Resolution System in the Belt and Road: Two Demonstrative Case Studies 3.1 Case Studies 4 A Possible Step Forward: A “United” Dispute Resolution System 5 Conclusion References The Impact of the US Sanctions Against Huawei's Mobile Phone Business Development 1 Introduction 2 Historical Development of Huawei 3 Methodology 4 Results 5 Huawei Corporate Structure 6 Huawei’s Market Match Policy 7 Discussion 8 Conclusion References Local Government Financing in China: Fiscal Fatigue and Debt Sustainability 1 Introduction 2 Preliminary Assessment of Local Government debt Risk – Index Method 3 An Empirical Analysis of Local Government Debt Sustainability in China 3.1 Local Government Debt Ceiling Estimates 3.2 Standard Calculation of Debt Ceiling and “Warning Line” 3.3 Prospective Analysis 4 Policy Suggestion 4.1 Fiscal Revenue Dimension 4.2 Fiscal Expenditure Dimension 4.3 Debt Risk Warning 5 Conclusion References The Impact of Health Education on the Health Status of Migrant Workers—An Empirical Analysis Based on CMDS (2018) Data 1 Introduction 2 Literature Review 3 Data and Methods 3.1 Data Sources 3.2 Variable Selection 3.3 Model Setting 4 Empirical Analysis 5 Conclusion References Correlation Between GDP and Related Indicators: Comparison Between the U.S. and Germany 1 Introduction 2 Literature Review 3 Data and Methodology 3.1 Data 3.2 Methodology 4 Results 5 Discussion 6 Conclusion References Old Prices, Marginal Costs, Capital and Dynamic Pricing Models 1 Introduction 2 Literature Review 3 Model 3.1 Dynamic Optimization Problem 3.2 Bellman Equation 3.3 A Firm’s Dynamic Price Adjustment Problem 4 Result 5 Conclusion References Time Series Momentum Trading Strategy for Cryptocurrencies 1 Introduction 2 Data and Method 2.1 Cryptocurrency Data 2.2 Linear Regression Model for Prediction of Returns 2.3 Mean-variance Optimization 2.4 Backtesting 3 Results and Discussion 3.1 Regression Analysis 3.2 Strategy Performances 3.3 Limitations and Prospects 4 Conclusion References The Effect of ESG Disclosure on Stock Performance: Empirical Evidence from China 1 Introduction 2 Hypothesis Development 3 Data, Variables and Method 3.1 Data 3.2 Variable 4 Results 4.1 Descriptive Statistics 4.2 Empirical Results 5 Conclusion References A Study of Asset Allocation Based on the Markowitz Model 1 Introduction 2 Literature Review 3 Model 3.1 Expected Rate of Return on Investment 3.2 Expected Rate of Return on Investment 3.3 Expected Rate of Return on Investment 4 Data 5 Analysis of Model Results 6 Conclusion References CSR Communication on Social Media: Feminist Marketing and Advertising 1 Introduction 1.1 Corporate Social Responsibly on Social Media 1.2 Feminism-Related CSR 2 Hypothesis 3 Methods 3.1 Descriptive Statistics 4 Results 4.1 Hypothesis 1 4.2 Hypothesis 2 5 Conclusion 5.1 Discussion and Implications 5.2 Limits and Future Directions References The Research on Factors Influencing Stock Returns in the Travel Industry Under the Shock of COVID-19 1 Introduction 2 Methodology 2.1 Date Sources 2.2 Group of Representative Stocks 2.3 Variable Description 2.4 Model Building 3 Results and Discussion 3.1 Descriptive Statistics 3.2 Model Test 3.3 Results of Empirical Evidence 4 Conclusion References Comparison of Employment Status of Financial Service Sector Between Mainland and Hong Kong 1 Introduction 2 Methodology 2.1 Metrics 2.2 Formula Application 2.3 Data Source and Processing 3 Results and Discussion 3.1 GDP and Inflation Rate 3.2 Proportion of Different Academic Degree 3.3 Investor in Security Market 3.4 Summary Analysis 4 Conclusion References How Life Changes During COVID Pandemic are Mitigated Through Next Generation Economic Modalities that Leverage the Power of Platforms? 1 Introduction 1.1 Background Information 1.2 Research Question 2 Literature Review 2.1 The Platform Economy 2.2 The Sharing Economy 2.3 The Circular Economy 2.4 The Attention Economy 3 Analysis 3.1 Monetizing People’s Attention by Leveraging Online Platforms – Webcasting 3.2 Digital Platforms Enhancing Access to Public Goods – Healthcare Platforms 3.3 Sharing Platforms Mitigating Enterprises’ Financial Pressure During the Pandemic - Coworking 3.4 Circular Platforms Reconfiguring the Supply Chain - Blockchain 4 Discussion 5 Conclusion References Innovative Tools for Food Waste Management that Enable Higher Value Circular Economy Outputs 1 Introduction 2 Literature Review 3 Recycling Food Waste by Creating a Platform 3.1 Case Study 3.2 Functions 3.3 Purpose of Building a Platform 4 Conclusion References What are the Benefits of Influencer Marketing, and How can Brands Benefit from Them? 1 Introduction 2 Literature Review 2.1 Brief History of Influencer Marketing 2.2 Benefits 3 Case Studies 3.1 Adidas Review 3.2 Net Sales Growth of Adidas from 2010–2021 3.3 Adobe Review 3.4 Adobe’s Annual Revenue (2004–2021) 4 Gatorade Review 4.1 Cumulative Royalties the University of Florida Has Made from Gatorade 5 Colorkey Review 6 Discussion 7 Limitations 8 Conclusion References The Time-Varying Impact of the Federal Reserve Rate Hike on Bitcoin 1 Introduction 2 Research Design 2.1 Data Source 2.2 Unit Root Test 2.3 VAR Model Specification 2.4 ARMA-GARCH Model Specification 3 Empirical Results and Analysis 3.1 VAR Model Identification 3.2 Impulse and Response 3.3 ARMA Model Identification 3.4 ARMA-GARCHX Estimation Results 4 Discussion 5 Conclusion References The Impact of Changes in Currency Value on Technology Companies’ Yield and Volatility: A Long-Term Perspective 1 Introduction 1.1 Background 1.2 Literature Review 2 Research Design 2.1 Data Sources 2.2 Unit Root Test 2.3 VAR Model Setting 2.4 ARMA-GARCHX Model Setting 3 Results and Analysis 3.1 Decision on the Order of the VAR Models 3.2 Impulse Response 3.3 ARMA Identification 3.4 ARMA-GARCHX Estimation Results 4 Discussion 5 Conclusion References The Behaviour of Advertisers Within Video Platform, Along with Optimal Strategy for Platform 1 Introduction 2 Model Setting 2.1 The Behaviour of Advertisers 2.2 The Behaviour of the Platform 3 Conclusion References The Analysis of CHANEL’s Marketing Strategy Affects Consumer Behavior in the Pandemic Situation 1 Introduction 2 CHANEL Company 2.1 Overview 2.2 Finance Situation 3 Marketing Strategy Analysis 3.1 Social Media Values-Based Perspective 3.2 Consumer Psychology and Behavior 4 SWOT Analysis 4.1 Strengths 4.2 Weaknesses 4.3 Opportunities 4.4 Threats 5 Conclusion References The Impact of Real Estate Tax on Residents’ Housing Consumption —— An Empirical Study Based on British Data 1 Introduction 1.1 Background 1.2 Relevant Research 2 Construction of the Model 2.1 Different Theories on Housing Consumption 2.2 Theoretical Determination 2.3 Model Construction 3 Explore the Impact of the Real Estate Tax on Residents’ Housing Investment Decisions Through Empirical Research 3.1 Data Selection 3.2 Data Description 3.3 Empirical Research 4 Discussion 4.1 Discussion About Real Property Tax 4.2 Other Discussions 5 Conclusion References Study on the Influence of Stock Trading Volume of Traditional Chinese Medicine by Multiple Linear Regression 1 Introduction 2 Methodology 2.1 Data 2.2 Model Establishment and Analysis 2.3 Model Modification 3 Results and Discussion 4 Conclusion References Market Analysis and Strategy of Pet Industry Under Epidemic Situation Market Strategy Based on Case Analysis 1 Pet Industry Prospect and Market Analysis 1.1 Analysis of Consumer Groups 1.2 Industry Segmentation of the Pet Industry 1.3 Analysis of the Market Environment of the Epidemic 2 Case Analysis of New Market Model 3 Market Strategy 3.1 Online Business 3.2 Quality Consumption References Research on the Influencing Factors of Second-Hand Housing Price in Shanghai 1 Introduction 2 Methodology 2.1 Data Resources and Indicator Selection 2.2 Selected Model 3 Results and Discussion 3.1 Descriptive Statistics 3.2 Test for Multicollinearity 3.3 Goodness-of-Fit and Autocorrelation Tests 3.4 Model Data Analysis and Interpretation 4 Results and Discussion References The Impact of Social Media Marketing Strategy on Behavior Online Shopping: Case of TikTok Study 1 Introduction 2 Method 2.1 Study Population 2.2 Questionnaire Design 3 Analyze the Influence of TikTok on Consumers from the Gender Level 4 Analyze the Influence of TikTok on Consumers from the Age Level 5 Analysis of the Advantages and Disadvantages of TikTok Live for Consumer 6 Conclusion References Did China’s Stock Market Benefit from USD Appreciation: An Empirical Evidence 1 Introduction 2 Literature Review 3 Research Design 3.1 Data Source 3.2 ADF Test 3.3 VAR Model 3.4 ARMA-GARCHX Model 4 Empirical Result and Analysis 4.1 Order Estimation for VAR Model 4.2 Impulse Responses 4.3 Estimation Results for ARMA-GARCHX 5 Discussion 6 Conclusion References Yield and Volatility of PinDuoDuo in a Long-Term Uncertain Situation: The Covid-19 Pandemic 1 Introduction 2 Literature Review 2.1 The Impact of Covid-19 on the Stock Market 2.2 E-commerce and Covid-19 2.3 The Development of Pinduoduo Under the Covid-19 2.4 Review 3 Research Design 3.1 Data Source 3.2 Unit Root Test 3.3 VAR Model 3.4 ARMA-GARCH Model 4 Empirical Result 4.1 VAR Model Result 4.2 ARMA-GARCH Model Result 5 Discussion 6 Conclusion References Research on the Influencing Factors Affecting Beijing House Prices Using Linear Regression Model 1 Introduction 2 Method 2.1 Data Resource Description 2.2 Variable Selection and Data Correlation Description 2.3 Model Description 3 Results and Discussion 3.1 The Selected Model 3.2 Comparison of the Selected Model and Full Model 3.3 Comparison of the Selected Model with the Log Transformation Model 3.4 Model Fitness Checking 3.5 Assumptions and Checking 4 Conclusion References Research on the Investment Value of Stocks of the CITIC Securities Company 1 Introduction 2 Methodology 2.1 Data Source and Indicators 2.2 Method Description 2.3 Data Pre-processing 3 Results and Discussion 3.1 Descriptive Analysis 3.2 Factor Analysis 3.3 Analysis of Correlation 4 Conclusion References Research on the China’s Banking Industry Based on the CAPM Model – Take Ping an Bank of China as an Example 1 Introduction 2 Methodology 2.1 Theoretical Basis 2.2 Build Statistical Models 3 Results and Discussion 3.1 Sample Selection of Ping An Bank of China 3.2 Construction of CAPM Model of Ping an Bank of China 3.3 Parameter Estimation and Regression Analysis. 4 Conclusion References In the Sharing Economy Modality: Airbnb’s Failure in China 1 Introduction 2 Literature Review 2.1 Sharing Economy and Airbnb 2.2 AIrbnb’s Impact on Society 2.3 Airbnb in China 3 Methodology 3.1 Research Questions 3.2 Research Design 4 Analyzing Reasons for Airbnb’s Failure in China 4.1 Cultural Difference 4.2 Advertisement 4.3 Price 4.4 Limited Services 5 Conclusion References The Time-Varying Impact of the Fed’s Rate Hike on Japan’s Airline Industry 1 Instruction 2 Data Structure and Model Selection 2.1 Data Structure 2.2 VAR Model 2.3 ARMA Model 2.4 ADF Unit Root Test 2.5 The Establishment of the VAR Model 2.6 The Establishment of the ARMA-GARCHX Model 2.7 The GARCHX Model 3 Empirical Results and Analysis 3.1 VAR Order 3.2 ARMA Model Ordering 3.3 Impulse and Response 3.4 ARMA-GARCH Estimation Results 4 Conclusion References Large Supermarket Chain Under This Turn’s Interest Rate Policy: Gain or Lose 1 Introduction 2 Literature Review 2.1 The Reasons of Fed Raising Interest Rates 2.2 Market Focus on Fed Rate Hike 2.3 The Impact of Exchange Rate Changes on the Economy 2.4 Review 3 Methodology 3.1 The Source of Data 3.2 Unit Root Test 3.3 VAR Model Setting 3.4 ARMA-GARCHX Model Setting 4 Empirical Results and Analysis 4.1 Order Determination of VAR Model 4.2 Impulse Response 4.3 Order Determination of ARMA Model 4.4 Estimation Results of ARMA-GARCHX Model 5 Discussion 6 Conclusion References The Time-Varying Impact of Normalized Covid-19 Pandemic on BYD Stock Price 1 Introduction 1.1 General Content of the Article 2 Literature Review 2.1 The Influence of COVID-19 that Brought to China’s Automobile Industry 2.2 The State of BYD Cars in Recent Years 2.3 Literature Summary 3 Research Design 3.1 Data Source 3.2 Unit Root Test 3.3 VAR Model Specification 3.4 ARMA-GARCH Model Specification 4 Empirical Results and Analysis 4.1 VAR Model Order Determination 4.2 Stability Test of VAR Model 4.3 VAR Model Impulse Response Diagram 4.4 PACF and ACF 4.5 ARMA-GARCH Model Specification 5 Discussion 6 Conclusion References A Comparative Study of Shadow Banking Financial Supervision Between China and the United States 1 Introduction 2 The Concept of Shadow Banking 2.1 Causes of Shadow Banking 2.2 The Development of Shadow Banking 3 Financial Supervision of Shadow Banks in China and America 3.1 The Supervision Process of Shadow Banking in China 3.2 The Supervision Status of Shadow Banking in China 3.3 The Supervision Process of American Shadow Banks 3.4 The Supervision Status of Shadow Banking in the United States 4 Comparison of Financial Supervision on Shadow Banking System between China and America 4.1 Regulatory Commonalities 4.2 Differences in Regulation 4.3 Problems in China’s Shadow Banking Supervision 4.4 Suggestions for Improving China’s Shadow Banking Supervision System 5 Conclusion References Marketing Channel Innovation in the Beauty Industry in the Post-Epidemic Era - Estee Lauder Brand as an Example 1 Introduction 2 The Challenger of the COVID-19 for the Beauty Industry 2.1 Lower Consumer Appetite and Shifting Demand for Beauty 2.2 Live Streaming Becomes Popular as Offline Goes Online 3 Adaptation of Marketing Tools Under the Epidemic: An Analysis of Estee Lauder as an Example 4 Upgrading Marketing Channels in the Post-Epidemic Era 4.1 Building the Online Marketing Matrix 4.2 Online Channels are Linked at Multiple Points to Form a Closed Loop 4.3 Channel Model 5 Conclusion References Analysis on Siemens Online Marketing Strategies - Taking Siemens Advertisement of Dishwasher as an Example 1 Introduction 2 Introduction to the Siemens Advertisement of Dishwasher 3 Marketing Strategies Used in the Siemens Advertisement of Dishwasher 3.1 Source 3.2 Message Content 3.3 Inoculation 3.4 Middle-Aged Recipient 3.5 Channel - TVC 3.6 The Superimposed Voice of Celebrity Celebrities 4 Discussion of the Effect of Siemens Advertisement of Dishwasher 5 Conclusion References Gain or Loss from Fed’s Interest Rate Policy: Evidence from Disney 1 Introduction 2 Literature Review 3 Research Design 3.1 Data Source 3.2 ADF Test 3.3 VAR Model 3.4 ARMA-GARCH-X Model 4 Empirical Results and Analysis 4.1 VAR 4.2 Analysis 4.3 ARMA 4.4 ARMA-GARCH 5 Discussion 6 Conclusion References Research on the Influence Mechanism of Consumer Habits and Psychological Price Level on Advertising Effects: Based on Close-Up and Group Images 1 Introduction 2 Literature Review 3 Study Design 4 Data Analysis 4.1 Data Analysis of Experimental Group A and Control Group B 4.2 Data Analysis of Experimental Group C and Control Group D 5 Empirical Analysis 6 Meanings and Recommendations 7 Conclusion References Ownership Structure and Corporate Performance Evidence from China's Stock Market 1 Introduction 2 Literature Review 3 Data and Methods 3.1 Sample 3.2 Variables and Model Specification 4 Examining the Relation of Ownership Structure and Performance 4.1 Correlations 4.2 Regression Results and Analysis 5 Conclusions References Factor Analysis and PEST Analysis on Health Care Industry with 15 Stock Samples’ Evaluation 1 Introduction 2 Data and Methodology 2.1 Data 2.2 Methodology 3 Results 3.1 Results of KMO and BArtlett’s Test 3.2 Results of Factor Analysis 4 Discussion 4.1 Suggestion 4.2 Limitation 5 Conclusion References The Research of Three Parties’ Game Influenced by IWOM in Evolutionary Game Theory-Taking “Ice Cream Assassin” as an Example 1 Introduction 2 Evolutionary Model Assumptions 3 Results and Discussion 3.1 Constructing the Return Expectation Function 3.2 Replicate Dynamic Equation Solution 3.3 Constructing the Jacobian Matrix 3.4 Stability Analysis of Equilibrium Point 4 Numerical Simulation Analysis 4.1 Effect of the Initial Probability of the Three Parties’ Analysis 4.2 The Influence of Online Word-of-Mouth Factors Analysis 5 Conclusion References Empirical Analysis of Liquidity Risk of Chinese Listed Commercial Banks 1 Introduction 2 Methodology 3 Results and Discussion 4 Conclusion References Analysis on the Influence of Various Elements on the Net Profit of a Steel Group in Southwest China and the Prediction Based on Arima Model 1 Introduction 2 Research Methods 2.1 Data Sample 2.2 Variable Description 3 Results 3.1 Coefficient of Variation Method 3.2 Arima Time Series Forecasting 4 Discussion 5 Conclusions References Are There Any Winners on Both Sides of the Trade Conflict: Evidence from China and U.S. 1 Introduction 2 Research Design 2.1 Data Sources 2.2 Unit Root Test 2.3 VAR Model Identification 2.4 ARMA-GARCH-X Model Specification 3 Empirical Results 3.1 VAR Model Estimation Results 3.2 ARMA-GARCH Model Result 4 Discussion 5 Conclusion References Investment Strategy in a Down Market: Application of Market Neutral Strategy in Energy, Utilities and Technology Sector 1 Introduction 2 Method 2.1 Market Neutral Strategy 2.2 Stock Selection 2.3 Benchmarks 3 Results 4 Conclusion References Factors Analysis on Affecting the Sales Volume of K-Pack in Smartfood 1 Introduction 2 SWOT Analysis of Smartfood Company 2.1 Overview of Smartfood Company 2.2 SWOT Analysis 3 Regression and Results 3.1 Data and Variables 3.2 Results of OLS Model 4 Discussion 5 Conclusions References Resignation of Board of Directors Secretaries in Their Tenures and Business Violations 1 Introduction 2 Methodology 2.1 Sample Selection and Data Sources 2.2 The Number of Violations of Listed Companies 2.3 Trend Chart of the Number of Board Secretaries Leaving 3 Results and Discussion 3.1 Specification of Model 3.2 Further Analysis 4 Conclusion References Research on the Influencing Factors of Marriage Rate Among Young People in China 1 Introduction 2 Methodology 2.1 Data Sources 2.2 Variable Description 3 Results and Discussion 4 Conclusion References Constrained Portfolio Optimization: A Comparison of Markowitz Model and Single Index Model 1 Introduction 2 Problem Formulation 3 Data Collection and Analysis 4 Analysis on Different Constraints in MM and IM 5 Result Analysis 6 Conclusion References Tesla Stock Price Timeseries Analysis and Forecasting 1 Introduction 2 Data Preprocessing 3 Arima Model Introduction and Modeling Process 3.1 ARMA Model 4 ARMA Model Identification and Estimation 4.1 Introduction of Modeling Process 5 Empirical Analysis of Historical Closing Price of Tesla 5.1 Data Sources 5.2 Empirical Analysis 6 Model Test 6.1 Model Forecast 7 Conclusion References The Application of CAPM and Fama-French Three-Factor Model to the Investment Choice in Individual Stocks in China’s A-share Market and the Explanatory Power of Returns 1 Introduction 2 Literature Review 3 Model 3.1 CAPM 3.2 Fama-French Three-Factor Model 4 Empirical Result 4.1 Data Selection 4.2 Analysis of Regression Results 5 Conclusion References Optimal Capital Structure of China’s Small and Medium Listed Companies: A Case of RC Ltd. 1 Introduction 2 Capital Structure Theory 2.1 Studies in the West 2.2 Studies in China 3 A Case Study on the RC Ltd. 3.1 Company Profile and Financial Status 3.2 Status of Capital Structure 3.3 Costs of Capital of RC Ltd. and Peer Companies 3.4 Qualitative Analysis of Capital Structure 3.5 Discussion on Debt Financing Ratio in Optimal Capital Structure 4 Conclusion References The Main Challenge Faced by the Migrant Population and Recommended Policies: A Case of Hangzhou 1 Introduction 2 Literature Review 3 Methodology 4 Results 5 Conclusion References Research on United States Core CPI Forecast Based on Exponential Smoothing and ARIMA Model 1 Introduction 1.1 Research Background 1.2 Literature Review 1.3 Research Motivation 2 Methodology 2.1 Data Sources 2.2 ARIMA 3 Empirical Results Analysis 4 Conclusion References The Differences Between Longping High-Tech’s Company Value and Stock Prices of Agricultural and Forestry Industry Based on Factor Analysis and Structural Equation Model 1 Introduction 2 Literature Review 2.1 The Value of a Company 2.2 Stock Price of the Industry 3 Methodology 3.1 Research Hypotheses 3.2 Research Model 3.3 Research Design 3.4 Selection of Variables 3.5 Data Collection 3.6 Factor Analysis 4 Empirical Analysis and Result Analysis 4.1 Factor Analysis Results 4.2 AMOS Analysis 4.3 Fitting Degree Analysis (AMOS) 5 Conclusion References Analysis of the Impact of Corporate Responsibility on the Economic Interests of Educational Institutions Under the Impact of COVID-19 1 Introduction 2 Literature Review 3 Model Building 3.1 Basic Assumptions 3.2 Brief Introduction of the Model 3.3 Data Sources 4 Empirical Analysis 4.1 Variable Declaration 4.2 Descriptive Statistics 4.3 Correlation Analysis 4.4 Regression Analysis 4.5 Robustness Test 5 Conclusions References International Capital Flows and Dynamic Changes in Cryptocurrency Market 1 Introduction 2 Literature Review 3 Research Design 3.1 Data Sources 3.2 Unit Root Test 3.3 Vector-Autoregression 3.4 ARMA-GARCHX 4 Empirical Findings and Analysis 4.1 VAR Model Identification 4.2 Impulse Response 4.3 ARMA-GARCHX 5 Conclusion References Research on the Influencing Factors of Stock Return Based on Factor Analysis and OLS Regression Analysis 1 Introduction 2 Literature Review 3 Methodology 3.1 Data Description 3.2 Pre-Data Analysis 4 Results and Discussion 4.1 Factor Analysis 4.2 OLS Regression Analysis 5 Conclusion References Social Media Peer Communication and Impacts on Purchase Intentions 1 Introduction 2 Literature Review 3 Methods 3.1 Research Design and Method 3.2 Study Participants 3.3 Data Collection Methods 3.4 Data Analysis 4 Results 5 Discussion 6 Conclusion References Research on Transparent and Opaque Packaging of Nearly Expired Food 1 Introduction 2 Literature Review 3 Method 4 Experiment Design 5 Experiment Result 6 Conclusion Appendix References Research on the Impact of Investor Sentiment on the Cost of Equity Financing 1 Introduction 2 Methodology 2.1 Sample 2.2 Model Setting 2.3 Variables 2.4 Size 2.5 Leverage 2.6 ROE 2.7 Tobin Q 3 Results and Analysis 3.1 Summary Statistics 3.2 Correlation Coefficient 3.3 Test for Multicollinearity 3.4 The Model Results 3.5 Test of Model 1 3.6 Interpretation of the Results of Model 1 3.7 Test of Endogeneity Model and Results 3.8 Test for Robustness 4 Conclusion and Suggestions 4.1 Conclusion 4.2 Suggestion References Examining the Correlation for the US S&P 500 and Its Corresponding Futures from a Data-Driven Perspective 1 Introduction 2 Data Collection 3 Methods 4 Results 4.1 ADF Test 4.2 VAR Model Construction 4.3 Variance Decomposition Analysis 5 Discussion 6 Conclusion References Analysis of the Current Situation, Problems, and Countermeasures in the Development of China’s Agricultural Futures Market 1 Introduction 2 Current Status 3 Brief Review on the Agricultural Market 4 Problems 4.1 Lack of Multi-level Risk Management System 4.2 The Spot Market Is Not Without Flaws 4.3 The Overall Trading Size of Agricultural Futures is Stagnating 4.4 Few Species of Agricultural Products Futures Trading 5 Solution 5.1 “Order + Insurance + Futures” Model 5.2 Traffic Will Open up Markets with Imperfect Infrastructure 5.3 Increase Promotional Efforts to Make the Agricultural Futures Market More Appealing 5.4 Improve the Listing and Delisting System 6 Conclusion References BSM Model Application for the Southern Copper Corporation 1 Introduction 2 Data 3 Method 4 Result 5 Discussion 6 Conclusion References Value Investment: A Case Study for Technology Companies (Meta vs Microsoft) 1 Introduction 2 Data 3 M