Volume 6, Issue 1

The Impact Mechanism of Value Co-Creation on Enterprise Performance

Abstract: In the contemporary business landscape, which is characterized by the integration of digital technologies with numerous industries, the concept of value co-creation is becoming an increasingly important and creative competitive strategy. Scholars have highlighted the absence of robust arguments and theoretical guidance for organizations seeking to implement value co-creation practices with consumers. This thesis employs the theory of value co-creation as a foundational framework and a mixed-methods approach, utilizing structural equation modelling (SEM), to investigate the mechanism through which value co-creation affects enterprise performance. The findings of the research demonstrate that business model innovation acts as a mediating factor between value co-creation and enterprise performance, while internal process management exerts a moderating influence between the two. It is recommended that the findings of this research be employed to develop efficacious strategies for the implementation of value co-creation in enterprise practice management, with the objective of enhancing enterprise performance. Read More

Evaluation of Energy-Economy-Environment System Coordination in Southwest China under the Perspective of Carbon Neutrality and Its Influencing Factors Research

Abstract: Driven by the "carbon neutrality" policy, the coordinated development of energy, economy and environment has become an important part of sustainable development. In this paper, four provinces and cities in southwest China, including Yunnan, Guizhou, Sichuan, and Chongqing from 2011 to 2021, were taken as the research objects, and the coupling coordination model was used to construct a comprehensive evaluation index system of energy, economy, and environment, and the coupling coordination level of the three systems was empirically analyzed, and the influencing factors were analyzed. The final results show that the coordinated development level of energy-economy-environment system in the four provinces is greater than 0.5 in 2021, which has entered the coordination stage, but there is still a distance from high-quality coordination. Based on this, this paper puts forward policy suggestions to promote the coordinated development of energy, economy and environment in four provinces in southwest China. Read More

The Influence of Brand Perception on Purchase Intention from the Perspective of Consumer Culture

Abstract: Aiming at the influence of consumer culture, this paper explores whether the integration of different elements into Chinese brands has an impact on consumers' global brand perception, perceived functional benefits, perceived symbolic benefits, and purchase intention, as well as the differences in the degree of impact. Based on previous studies, the paper divides the perceived symbolic benefit into three dimensions: brand reputation, unique benefit and global citizenship, and explores the mechanism of the influence of perceived globality on purchase intention. The openness of consumer culture is introduced as a moderating variable to verify whether it has a moderating effect on the overall effect of perceived globality and purchase intention. Most of the research is aimed at local promotion, so that brands can stand in a cultural perspective and infect more global consumers. In this study, the experimental method was adopted to collect data through a questionnaire and a formal experimental questionnaire. After screening, SPSS 21.0 was used for statistical analysis of valid data. The results show that: (1) Compared with local elements, Chinese local brands with global or foreign elements can make consumers perceive more global; Compared with local and foreign elements, local brands with foreign elements are more willing to buy. (2) Brand perceived globality positively influences perceived functional and symbolic benefits, and has a more significant impact on the latter's global citizenship attributes. (3) Consumer cultural openness positively moderates the impact of perceived globality on perceived functional and symbolic benefits. According to the conclusion of the research, the author provides corresponding suggestions for Chinese brands to carry out marketing in domestic and overseas markets. Finally, the limitations and future prospects of this study are pointed out. Read More

Consumer Behavior Changes and Coping Strategies in the Digital Age

Abstract: With the advent of the digital age, consumers' shopping behavior and information acquisition have undergone profound changes. Traditional advertising platforms such as Baidu and Jinri Toutiao have gradually been replaced by social media platforms, and new media channels such as Wechat moment, Xiaohongshu and broadcast rooms have become the main sources for consumers to obtain product and service information. In the traditional real estate sector, this trend is also prominently observable. The purpose of this study is to explore the changes in consumer behavior in the digital age and analyze the key roles played by live broadcasting and new media. This study shows that the impact of social media on different home buying customer groups is significantly different in marketing conversion data, including the retention of potential customers, the number of customers visited, and the proportion of transactions brought by social media tools. In addition, this paper deeply focuses on the influence of buyers' life stage on their house purchase demand, and subdivides buyers into several typical life stages. Through a detailed analysis of the changes in the needs of 49 different types of households, we reveal the specific differences in the needs of buyers at different life stages in terms of home size, location, function and so on. For example, single young people are more likely to choose a small apartment with a good location; Newlyweds focus on community safety and future parenting resources; Families with children emphasize safety, education, and the functionality of living Spaces. Families with stable career pursue high-quality improved housing and matching personal circle; The retired pay attention to health and wellness facilities and recreational activities. Based on the above analysis, this study provides more targeted product design and service strategies for developers. Specifically, through the detailed classification of 49 household types, such as single youth, … Read More

Research on the Coordinated Development of Inclusive Finance and Public Services

Abstract: Both inclusive finance and public service can provide services for the vast number of people. Although the two are different in the supply mechanism and the mode of government, they have the same service goal in different paths. By analyzing the theoretical mechanism of inclusive finance to promote the development of public service and the realization path of public service to promote the development of inclusive finance, this paper further introduces the research on the coordinated development of inclusive finance and public service, indicating that the business of the supply sector of the two can develop in tandem, and the coordinated development of the two is conducive to the integration of urban and rural development and the improvement of common prosperity. Read More

Analysis of the Development Path of Chinese Rural Characteristic Industries and Its Impact on Farmers’ Income

Abstract: Promoting the growth of farmers’ income is the central task of the work of the “three rural areas”, and the development of rural specialty industries provides a new way of thinking. In this paper, we conduct semi-structured interviews and multi-stage questionnaire surveys with unequal probability sampling on farmers and workers engaged in agriculture industry in 109 administrative villages in 6 cities of Zhejiang Province, study the development path of rural specialty industries and its effect on farmers’ income, and put forward five policy recommendations. Read More

Study on the Factors Affecting Construction Project Cost Overrun

Abstract: As a pillar industry that promotes economic development, the construction industry is currently experiencing rapid development and has received strong support from the country and the government. The construction industry faces the challenge of cost overruns, which is a worldwide phenomenon. Cost overruns are a very common phenomenon that is related to almost all projects in the construction industry. Cost overruns refer to the difference between the final actual cost at the completion of a construction project and the contract amount agreed upon by the owner and the contractor when the contract is signed. Cost overruns are considered to be a clear sign of project failure. In construction projects, it is a common phenomenon that the budget exceeds the estimated cost and the settlement exceeds the budget. This paper focuses on the main factors that affect the cost overrun of construction projects to provide a reference for the actual situation. Read More

Guqin in the Digital Era: Preserving Tradition and Shaping the Future of Music Education

Abstract: The research investigates the current status of the Guqin (Chinese ancient zither) and explores the potential role of technology and the internet in its cultural development and dissemination. By analyzing the Guqin’s manufacturing processes, educational systems, and commercialization, this study examines the possibility of creating a profitable, sustainable industry centered around Guqin culture. Despite the long-standing tradition and significance of the Guqin in Chinese cultural heritage, it faces challenges such as limited public awareness and difficulty engaging younger generations. This research highlights the need for innovative methods in Guqin manufacturing, sales, and education, particularly through the use of digital platforms and new media to reintegrate the Guqin into modern life. The findings suggest that leveraging internet technologies, including social media platforms such as Douyin (TikTok) and Kuaishou, could foster a revitalization of Guqin culture, making it more accessible and appealing to a broader audience. Additionally, this study explores the feasibility of creating a comprehensive industry model that connects manufacturers, educators, and enthusiasts through online platforms, potentially offering a more dynamic approach to preserving and advancing this ancient musical tradition. By optimizing the existing industry structure, this project seeks to improve the public’s understanding of Guqin, enhance its market presence, and create new opportunities for its sustainability in the modern era. Read More

Analysis of the Current Status and Trends of Investment and Financing in the Automotive Industry

Abstract: As an important pillar of the national economy, the automotive industry has become increasingly active in investment and financing activities in recent years under the promotion of new energy vehicles. This article analyzes the current situation of investment and financing in China's new energy vehicle and automotive parts industry, including investment and financing scale, round distribution, key investment and financing events, and regional distribution, and explores future development trends. Research has found that the investment and financing scale of the new energy vehicle industry has been increasing year by year, but will slow down in 2023; The investment and financing activities in the parts industry are also active and showing an upward trend. In the future, with technological progress and policy support, investment and financing in the automotive industry will continue to maintain a growth trend, but competition will also become more intense. Read More

Research on Influencing Factors and Improvement Strategies of Corporate ESG Performance from a Configuration Perspective

Abstract: There is a close relationship between ESG ratings and aviation companies. A higher ESG score can enhance the social image, brand value, and market competitiveness of aviation companies; At the same time, it also helps to reduce financing costs, enhance investor confidence, and promote the sustainable development of the industry. Using 21 aviation manufacturing A-share listed companies as case studies, the dynamic QCA method is adopted to further explore the configuration path of factors affecting the ESG score of aviation enterprises from the spatiotemporal dimension by processing and analyzing the financial panel data of enterprises from 2018 to 2023. Research has found that financial factors indirectly affect the ESG score of aviation companies, and there are three pathways that affect the ESG score of aviation companies, namely market structure, financial performance, and capital structure. The configuration of these three variables has a strong impact on the ESG score of aviation companies, and these impacts have complex and nonlinear characteristics. Read More

Exploration and Practice of Sustainable Development Path

Abstract: Sustainable development, key to contemporary issues, aims at eco-economic-social harmony. This study analyzes its theoretical basis, challenges, and proposes strategies. It outlines sustainable development concepts, summarizes research, and highlights urgent challenges like environmental degradation and climate change. Three models—green economy, circular economy, and renewable energy—are introduced and evaluated. China's urban-rural integration model and Norway/Germany's green transformation examples further verify the schemes' practicality and feasibility. Based on the comprehensive consideration of the above path selection, this paper finally puts forward a series of policy initiatives to advocate the close collaboration of government, business and the public to accelerate the achievement of the Sustainable Development Goals. This study is expected to provide useful reference for the choice of sustainable development path in the future, and stimulate the attention and active participation of the wider community on this issue. Read More

The Impact of Short Video Platform Characteristics on Marketing Effectiveness: A Bibliographic Review and Future Research Directions

Abstract: The new trends in short video apps like TikTok, Instagram Reels, and YouTube Shorts have significantly impacted marketing plans worldwide. This paper systematically reviews current research focusing on the distinct features of these platforms, including the architecture design of the algorithms, the dynamics of content creation, and user interaction patterns and their implications on the effectiveness of marketing. This literature review also examines the main themes, the limitations of current research, and potential research directions. The findings show that short video platforms offer new opportunities for relevant, engaging, and sharable marketing content. However, further studies are required to establish the level of efficiency of these platforms in the long run by country and concerning ethical issues as well as in comparison with other sharing platforms. It is now up to academics and practitioners to actively study these new areas to expunge the maximum possible value of the short video platforms in marketing. Read More

A Review of Employee Innovation Behavior

Abstract: Firstly, by tracing and combing the research literature related to employee innovative behavior, this paper condenses the employee innovative behavior based on the two dimensions of formation mechanism and influencing factors, and outlines the definition and formation stages of employee innovative behavior. Then this paper clarifies the influencing factors of employee innovative behavior from the individual, organizational and social dimensions, and finally summarizes the research reflections and puts forward some future research suggestions for the existing research limitations. Read More

Exploration of the Path of Green and Low-carbon Development in Counties in Northern Anhui under the Dual Carbon Target

Abstract: Green water and green mountains are gold and silver mountains. The 20th National Congress of the Communist Party of China proposed to accelerate the transformation of social green development and promote green, low-carbon and high-quality development. Realizing regional green development is an important connotation of high-quality economic development. County towns are key nodes for urban-rural integrated development and important carriers for promoting urban-rural green development. The "dual carbon" target is a necessary choice for my country to promote high-quality development. This project first sorts out the research results of green and low-carbon construction and development in counties at home and abroad, systematically analyzes the basic theories of green and low-carbon, and summarizes the basic characteristics of green and low-carbon development in counties; secondly, an indicator system is established to measure and evaluate the level of green and low-carbon construction and development in counties in northern Anhui, classifies the resource endowments and development levels of different counties from multiple perspectives, and studies the characteristics of green and low-carbon development construction in counties and towns under different types. Read More

Analysis and Comparative Study of Industral Design Patent Layouts of Automobile Manufacturers in Overseas Markets

Abstract: In the context of globalization, the international development of the automotive industry has become an inevitable trend. As China has become the world’s largest automobile exporter, automotive companies are gradually shifting from product export to technology export. During this transition, the protection of industrial design patents, which are crucial for brand image and market competitiveness, becomes particularly important. This study focuses on the layout of  industrial design patents, a key area of intellectual property in the automotive industry’s international expansion. It examines major global automotive markets and key regions for Chinese automotive brands' international ventures. We selected 23 automotive manufacturers from the Fortune 2023 Global 500 list as research subjects and developed a comprehensive analysis system encompassing key indicators such as patent family size, number of authorized countries, and major countries/regions of patent layout. Through a co-linearity relationship network matrix and visual analysis using Gephi software, this study provides an in-depth analysis of the design patent layout of automotive companies. The aim is to offer robust theoretical support and practical guidance for the intellectual property strategy of Chinese automotive brands in the global market, further advancing their internationalization process. Read More

The Impact of Digital Inclusive Finance on Rural Household Financial Vulnerability: An Analysis based on the Ordered Probit Model

Abstract: The vulnerability of household finance is an extension of the research field of household finance, which has received widespread attention from scholars both domestically and internationally. Especially in rural areas of China, where economic development is relatively lagging and household income levels are low, the degree of financial vulnerability is more significant. In recent years, the vigorous development of digital inclusive finance has to some extent improved the accessibility of financial services for rural residents, providing new ideas and approaches to alleviate this problem. Therefore, in-depth exploration of the impact and mechanism of digital inclusive finance on the financial vulnerability of rural households is of great theoretical and practical significance for improving household financial welfare and maintaining financial stability. This article uses the Peking University Digital Inclusive Finance Index and the 2019 China Household Finance Survey (CHFS2019) data to empirically test the impact and mechanism of digital inclusive finance on rural household financial vulnerability using the Oprobit model and mediation effect model. The research results show that the development of digital inclusive finance can significantly reduce the financial vulnerability of rural households; The mediation effect analysis shows that the financial literacy of farmers plays a significant mediating role in it. Based on the above research conclusions, this article believes that continuously promoting the development of digital inclusive finance and deepening the reform of rural financial services have extremely important practical significance. This not only helps to further enhance the financial well-being of rural households, but also provides strong support for the sustainable economic development of rural areas, while laying a solid foundation for the stability and improvement of China's financial system. Read More

Theoretical Developments and Practical Innovations in Financial Accounting: A Review of Current Status, Challenges, and Future Trends

Abstract: With the advent of globalization and the digital age, financial accounting, as a core component of corporate management, is undergoing profound changes. This paper provides a comprehensive review of the existing literature on the core theories, modern developments, and technological innovations in financial accounting, focusing particularly on the adoption of International Financial Reporting Standards (IFRS), digital transformation, and the integration of corporate social responsibility (CSR) into financial reporting. By examining technological advances and regulatory changes, the paper further analyzes the main challenges and development trends facing financial accounting in the future. Finally, the paper suggests that financial accounting practices should place greater emphasis on the application of digital technologies and the harmonization of global accounting standards to adapt to a complex economic environment. Read More

Research on the Two-way Influence of RMB Internationalization Degree and RMB Exchange Rate Fluctuation

Abstract: Currency is a crucial part of the international payment system, and the international payment proportion of the national currency is an important embodiment of the international status. In this paper, the proportion of RMB international payment is selected to define the degree of RMB internationalization, and the TVP-SV-VAR model is constructed to study the two-way relationship between the degree of RMB internationalization and the RMB exchange rate. The empirical study shows that there is a significant two-way relationship between the degree of RMB internationalization and the RMB exchange rate. The rise of the exchange rate has a more significant positive impact on the degree of RMB internationalization in the short term, and the positive impact of the degree of RMB internationalization on the exchange rate increases with time. Therefore, China should coordinate its exchange rate policy with the process of RMB internationalization and deepen the market-oriented reform of RMB to form a currency anchor. Improving international payment infrastructure and improving the international legal system while exploring new payment technologies; Based on the "Belt and Road" priority to develop regional trade outward extension, enhance geopolitical influence; We will prudently supervise financial markets and promote market opening at a high level. Read More

Different Tax Types Effect Equality

Abstract: The passage talks about whether it is much fairer to use income tax or consumption tax for people in different income brackets. We try to explore the history of taxation and both the benefit side and disadvantage side of different types of taxation. I used website, google scholar, having a research of key words like income tax, consumption tax and so on. Look for several essay that fit for my idea and record the data. My conclusion is that instead of consumption by value, further refinement could consider consumption as a portion of income as a better metric. Exemptions should be made readily available for earners in the bottom percentiles. This essay can be used in some situation like some people wanted to find out the tax policy stuff or they want to build a thought about “Perfect tax collection mechanism”. They can have some useful opinion according to my passage. Read More

Effect of Geographical Location on the Spatial Differences of Housing Price in Xi'an: Based on the Second-hand Housing Data of Family Scale from 2019 to 2021

Abstract: The price of housing has always been concerned by all people in the society, and it is closely related to the basic life of residents and the stable development of society. In cities, housing prices have many influencing factors, and there are obvious differences among different cities or within the same city. This paper takes Xi 'an as the research object, and the specific research areas are six main urban areas of Xi 'an. Based on the household-scale second-hand housing data from 2019 to 2021, it discusses the influence of geographical location on the spatial difference of housing prices in Xi 'an. In this paper, using Kriging interpolation method and bidding rent theory, firstly, the spatial structure characteristics of housing prices in Xi 'an are summarized. Because Kriging interpolation method is selected, the research data should conform to the normal distribution. Therefore, before Kriging interpolation method is used, the data should be analyzed and converted in spss software to make it conform to the conditions. Then, select appropriate influencing factors to construct Hedonic characteristic price model to study the influencing factors of housing prices, and the results are as follows: (1) The housing price in Xi 'an is significantly different among different regions, and has formed a unique core area in each region, such as Qujiang New District and Hi-tech Zone, where high housing prices are concentrated. (2) The distance from the center and sub-center of Xi 'an has a great influence on the house price, and basically accords with the theory of bidding rent, that is, the house price gradually shows a downward trend with the distance from the center or sub-center. (3) Architectural features, location features and neighborhood features all have an impact on the housing price in Xi 'an, among which location features have the greatest impact, architectural features have a greater impact, and neighborhood features have the least impact. Among the factors that … Read More

Research on the Impact of Financial Technology on Enterprise Digital Transformation

Abstract: Based on the perspective of enterprise life cycle, this study deeply explores the impact of financial technology on enterprise digital transformation. By comprehensively using literature research method and theoretical analysis method, the characteristics of each stage of enterprise life cycle are used to systematically analyze the impact of financial technology on enterprise digital transformation. The focus is on the specific mechanism of financial technology in providing financial support, promoting business model innovation, and improving operational efficiency and market competitiveness in the growth stage in the entrepreneurial stage of enterprises. The study found that financial technology provides key support for the digital transformation of enterprises at different stages of the life cycle, broadens financing channels and stimulates innovation vitality in the entrepreneurial stage, and optimizes operational processes and enhances market advantages in the growth stage. This study not only enriches the theoretical system of financial technology and enterprise management, but also provides valuable theoretical basis and practical guidance for enterprises to reasonably use financial technology in the process of digital transformation, helping enterprises to achieve sustainable development in the digital economy era. Read More

Exploration of the Driving Path of Digital and Intelligent Transformation of Automobile Manufacturing Enterprises

Abstract: The digital economy is a major trend in the global economic development,in such an economic wave,intelligent manufacturing has become a new highland of competition.It has become the trend of The Times to take intelligent manufacturing as the main development direction and promote the upgrading of manufacturing industry to digitalization and intelligence.Based on the TOE analysis framework, this paper takes 27 automobile manufacturing enterprises from 2018 to 2022 as the research object, uses R-Studio software to carry out dynamic QCA analysis, and explores the path of mathematical transformation of automobile manufacturing enterprises driven by the antecedent conditions of ' technology-organization-environment ' dimension from the perspective of configuration. The research shows that any single antecedent condition cannot independently become a necessary condition to drive the digital intelligence transformation of automobile manufacturing enterprises.The level of digital intelligence transformation of high-level enterprises is affected by the ' multiple concurrency ' of six conditions : intelligent production, technology R & D capability, knowledge talent investment, management transformation planning, government support and digital innovation environment, and has formed three types of configuration modes : digital technology + R & D environment-driven, digital technology + organizational planning-driven and digital technology + high-end talent-driven.The technological R & D capability in the technical dimension and the digital innovation environment in the environmental dimension are the core reasons for the failure of the digital intelligence transformation of the automobile manufacturing industry. Based on the research conclusions, this paper puts forward relevant policy suggestions to promote automobile manufacturing enterprises to accelerate the transformation of digital intelligence from the aspects of strengthening the application of configuration … Read More

Research on the Digital Development Path of Rural Cultural Industry under the Background of Rural Revitalization

Abstract: The rural revitalization strategy provides opportunities for the digital transformation of rural cultural industry. Under the background of rural revitalization and cultural industry innovation, digital transformation can break through the traditional model and promote economic and cultural development. This article analyzes the current situation and problems of rural cultural industry digitalization, and discusses its development path in combination with data and cases. The study shows that strengthening digital infrastructure construction, promoting technology integration, and improving talent training mechanisms will contribute to the high-quality development of rural cultural industry and help rural revitalization. Read More

Research on the Path and Strategy of Enterprise Digital Transformation in the Era of Digital Economy

Abstract: This research explores the strategic pathways for successful enterprise digital transformation in the digital economy. By analyzing key elements and stages, the study develops a tailored framework for effective digital transformation strategies, specific to industry sectors and enterprise characteristics. It examines the impact of digital technology adoption on business models, operational efficiency, and customer engagement, alongside the challenges and opportunities in managing organizational change. The findings emphasize a holistic approach integrating strategic planning, technology adoption, organizational change management, and ecosystem collaboration. This research contributes to the digital transformation discourse by identifying best practices and success factors for enterprises navigating the digital economy. Read More

Dynamic Interpretation of International Investment Treaties

Abstract: The legal regime of international investment treaties (IITs) is an important part of international economic law, designed to provide legal protection for cross-border investment through bilateral investment agreements (BITs) and multilateral investment agreements (MIAs). However, with the changes in the global economic landscape, the current system faces many challenges in terms of investor-state dispute settlement (ISDS) mechanism and other aspects. By sorting out the historical evolution of international investment treaties, analysing the practical problems of the international investment treaty mechanism and exploring the path of institutional reform, we hope to provide reference for the construction of a fairer and more efficient international investment legal system. Read More

On Theoretical and Practical Path of Industry-education Integration Community Empowering Tourism Management Talents Cultivation

Abstract: In the context of the booming development of culture and tourism industry and the reform of vocational education, the industry-education integration community is crucial to the cultivation of talents of tourism management major. Based on symbiosis theory, we analyze the theoretical logic of industry-education integration community empowering talent cultivation, discuss the construction strategies from the organizational, motivational, behavioral and cultural levels, and put forward the practical paths of perfecting the operation mechanism, creating diversified faculty, developing practical curriculum system, and building practical training base by the school and enterprise, aiming to improve the quality of talents cultivation to meet the demands of industry. Read More

Research on the Construction of Virtual Teaching and Research Room based on Audit Course

Abstract: With the rapid development of information technology, traditional audit course teaching is facing many challenges. This article aims to explore the application of virtual teaching and research rooms in the teaching of auditing courses, analyze the difficulties of traditional auditing course teaching, study the advantages of virtual teaching and research rooms, including improving teaching quality, promoting balanced allocation of resources, and achieving integration of industry and education. Specific construction paths are proposed to improve the quality of education and teaching, optimize teachers' professional abilities, and promote balanced allocation of educational resources. Read More

Equity Structure, Green Innovation and Corporate Finance Constraints

Abstract: Based on the goal of “dual carbon”, we select the data of Chinese A-share listed companies from 2007 to 2019, and empirically test the effects of equity structure, green innovation and their interaction terms on corporate financing constraints, and find that: (1) the improvement of equity checks and balances and green innovation can alleviate the financing constraints faced by enterprises, especially in SOEs. financing constraints, which is particularly significant in SOEs. (2) An increase in equity concentration and management shareholding can effectively alleviate the financing constraints of enterprises, and this effect is more significant in non-SOEs. (3) Considering the interaction effect of management shareholding and green innovation, the increase of management shareholding can weaken the mitigation of financing constraints by green innovation, and this effect is more significant in non-SOEs. This paper provides new empirical evidence for corporate financing constraints from the perspectives of equity structure and green innovation, which is conducive to optimizing the equity structure and improving the vitality of corporate green innovation development. Read More

Study on the Influence Mechanism of Science and Technology Finance on the Technological Innovation of High-tech Industry

Abstract: High-tech industries are leaders in technological innovation. Their high innovativeness, high investment, and high risk make the contradiction between capital supply and demand a key factor constraining industrial development. Science and technology finance is an open system composed of various financial entities and institutional environments. As a crucial guarantee for technological innovation and a critical link in enhancing financial services to the real economy, it will provide the strongest support for the development of high-tech industries. This paper delves into the direct impact mechanisms of science and technology finance on technological innovation in high-tech industries from five aspects: government, banks, venture capital, capital markets, and technology insurance. It also discusses the indirect impact mechanisms of science and technology finance on technological innovation in high-tech industries from two perspectives: competitive effects and spatial spillover effects. Finally, it proposes policy recommendations aimed at promoting technological innovation and the development of science and technology finance in high-tech industries across regions, improving the science and technology finance system, strengthening the role of science and technology finance, focusing on spillover effects between different regions, and facilitating the free flow of resources. Read More

Study on the Influence of Green Bonds on Enterprise Green Innovation

Abstract: Green bond is a new financial instrument that balances economic benefits and environmental protection, and is crucial to accelerate the green transformation of enterprises. This paper takes enterprise issuing green bonds as a quasi-natural experiment, constructs a multi-point DID model to investigate how green bonds affect green innovation, and explores potential mechanisms. The findings indicate that: (1) Green bonds have the potential to greatly increase both the quantity and quality of green innovation within enterprises. (2) Mechanism test results show that green bonds mainly attract the attention of peers and intensify the research and development (R&D) competition by releasing green signals, and green innovation is promoted with R&D competition. (3) Heterogeneity test results show that the role of green bonds in promoting green innovation is more obvious in enterprises with high pollution and high ESG scores. In addition, belonging to the Green Finance Pilot Zones (GFPZ) will also affect the improvement of green bond issuance on green innovation. This study provides new insights for improving enterprises' green innovation and promoting China's green transformation. Read More

The Integrated Development of Aesthetic Education and Rural Economy in the Context of Rural Revitalization: A Case Study of Jieshou City, Anhui Province

Abstract: Based on the rural revitalization strategy, by leveraging the advantages of Anhui University of Finance and Economics, a public welfare activity titled "The Integrated Development of Aesthetic Education and Rural Economy in the Context of Rural Revitalization: A Case Study of Jieshou City, Anhui Province" was carried out in rural areas. The project team members conducted in-depth investigations and research on the current situation of rural aesthetic education [1], analyzed the reasons, and provided solutions. They continuously explored rural aesthetic education to provide channels for rural children to access knowledge of beauty and broaden their horizons. By entering the campus for investigation and providing various aesthetic education activities, the team members not only understood the current situation of aesthetic education knowledge in the local area but also enriched the extracurricular lives of rural children, further promoting rural cultural revitalization and prosperity. The implementation of this project has helped us to better understand the shortage of rural aesthetic education resources and the lack of teaching staff, which is conducive to constructing the basic framework of rural aesthetic education development, promoting rural economic development, and more precisely promoting rural cultural revitalization. Read More

How Can Digital Voice Assistant Impact Consumers’ Experience in E-Commerce?

Abstract: Digital Voice Assistant (VA in short) is intelligence software tant responds to voice commands and can run on any device. It enables functions such as chatting, operating devices, task ranging, and controlling smart home appliance. The well-known VA on market include Alexa (Amazon), SIRI (Apple), Google Assistant (Google), XiaoAi (XiaoMi), Tmall Genies (Alibaba), etc. With the development of VA, it eventually becomes an innovate channel in e-commerce, who enables users to accomplish shopping-related missions and uses natural language as an interface. This dissertation aims to study consumers’ user experience while shopping through Voice Assistants. The method to collect data is by questionnaire, therefore achieve a quantitively analysis. This dissertation answers tree research questions in order to further understand the object: 1). VA shopping’s characteristic: How VA shopping differs from traditional e-commerce channels through user-experience? 2) What is the consumers’ attitude for shopping through voice assistant? 3) What is consumers’ attendance on voice assistant as a shopping channel? Regarding the customer journey of VA shopping and traditional ways, there didn’t show a huge difference between them. The most different point between VA shopping and traditional e-commerce shopping channel is that VA uses the natural language as interface while traditional ways using picture-text (visually). So that the information present by VA is less complex and hard to make an intuitive impression of articles as the traditional channels. It consequences that VA relies more on the intelligence of its AI algorithm. As the result of survey, users’ attitude toward experience on VA shopping is rather positive. Most of the users are satisfied with it and are willing to share this channel to others. However, those potential users remine an uncertain attitude. They all agree that as advantages, shopping through VA is more time-saving, easy to operate, and enable users to … Read More
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