Evolving Platform Responsibilities Under Regulation: A Comparative Study of Internal CSR Practices in Ride-hailing Platforms Across the EU, the US and China, and Implications for Sustainable Development

Zimo Zhou

pp.1-5 DOI: 10.62051/gmm99823

Abstract: This examination delves into the regulations from China, the EU, and the USA to understand what major ride-sharing companies like DiDi, Uber, and Lyft are doing internally, particularly in areas such as customer assistance and collaboration. Based on findings, it is evident that the EU's integrated rights-based framework can encourage standardized practices and compliance-oriented behavior, making corporate social responsibility (CSR) often an extension of legal requirements. The absence of U.S. … Read More

A Review of the Impact of Employee English Proficiency Development on Enterprise Development Taking Japan's Rakuten Group As an Example

Weitao Hou

pp.6-10 DOI: 10.62051/6g4ewk93

Abstract: In the backdrop of economic globalization, the competition among enterprises has transcended national boundaries and extended to the international arena. English, as the global lingua franca, holds a pivotal position in various domains and cross - national exchanges. This paper focuses on the "Englishization" policy implemented by Rakuten, Inc., a Japanese multinational corporation based in a non - English - speaking country. By integrating data and case studies from ten academic sources, this … Read More

The role played by social media behind Labubu's sudden popularity

Jiayuan Tang

pp.11-15 DOI: 10.62051/nazw0868

Abstract: Nowadays, "Blind box economy" has gradually emerged with the Internet. Labubu become an instant hit worldwide in a short period of time and has gained a large number of fans. The study focused on analyzing four roles that social media played in the sudden popularity of Labubu. Firstly, social media can facilitate the establishment of identity recognition, form a unique fan groups for Labubu, and turn Labubu into a new type of social currency. Secondly,it expand the emotional value carried by … Read More

Research on Marketing Strategies for Experiential Products in Streaming Media Format

Jingyau Wu

pp.16-21 DOI: 10.62051/dcqqfd71

Abstract: In the digital age, experiential consumption has become the core driver of domestic demand. Experiential products such as movies have shifted from traditional cinemas to streaming platforms. This article mainly employs the case analysis method, using the movie Loss in Russia as an example, integrating the two contents of streaming media and experiential consumption. It explores the marketing strategies of experiential consumption products in the streaming media format. Based on the 4P theory, … Read More

Potentialities of AIGC: Digital Fashion

Sanding Yi

pp.22-28 DOI: 10.62051/e2nw8f05

Abstract: This paper explores the potentiality of generative AI (AIGC) in the video game business, fashion business and cultural perspective of digital fashion. By analyzing three contemporary cases-The Sims 4, Balenciaga x Fortnite, and Zepeto, the study investigates the differentiation from traditional customization to branded digital social experiences and fully AI powered personalization. Research reveals that technological sophistication is no longer the primary obstacle. AIGC have developed … Read More

The role of media representations in webcomic company

Shuaitong Li

pp.29-33 DOI: 10.62051/8085wd48

Abstract: This essay explains the way media representations have been applied at Webtoon Entertainment Inc. (WBTN), one of the largest online comics companies that disrupted the comics business by turning them into a mobile-first, vertical scrolling system. It is a study of the revenue model adopted by WBTN, and a hybrid model that includes both free access and paid capabilities in achieving an analysis on how the business entity will be able to maximise interactions with users, in order to be financeably … Read More

Digital Technology Empowering Global Supply Chain Resilience Analysis: The Case of Apple

Junhan Huang

pp.34-39 DOI: 10.62051/2aw6bp27

Abstract: Against the backdrop of increasing uncertainty in global supply chains, digital technologies have emerged as a key enabler for enhancing supply chain resilience. However, the process of empowering supply chains through digital technologies presents several challenges. These include the “efficiency paradox” arising from the rapid pace of technological iteration versus the inherent rigidity of supply chains; difficulties in coordinating multiple stakeholders, leading to “ecosystem barriers”; data … Read More

China's New Energy Vehicle Trade Dilemma and Solutions—A Case Study of BYD

Shi Wu

pp.40-45 DOI: 10.62051/zc6g6n71

Abstract: Against the backdrop of global warming and the shift to new energy, China's new energy vehicle industry has experienced rapid development, supported by multiple factors, including technology and policies. However, these efforts to expand overseas are currently facing numerous obstacles. This article, using BYD as an example, explores how Chinese automakers can better enter high-standard markets such as the EU. By analyzing BYD's current challenges in entering the European market, including high … Read More

Analysis of Cost Optimization Strategies for Small and Medium-Sized Enterprises in Overseas Trade-Taking Chocolate as an Example

Zhuoyan Guan

pp.46-52 DOI: 10.62051/ne41c717

Abstract: With the reconstruction of the global supply chain and the rise of cross-border e-commerce platforms, "going global" for small and medium-sized enterprises is no longer an exclusive option for large enterprises. Especially against the backdrop of the gradual popularization of digital infrastructure, the possibility for small and medium-sized enterprises to survive and expand in the international market through technological empowerment and management innovation has significantly increased. This … Read More

Analysis of the Internationalization Pathways of Chinese Medical Device Enterprises-Taking Mindray Medical as an Example

Jieying Ye

pp.53-58 DOI: 10.62051/z8147135

Abstract: With the rapid development of China’s medical device industry and the continuous expansion of its export scale, corporate internationalization has become a focal point of attention for both academia and the industry. This paper uses Mindray Medical as a representative case study. By integrating the Uppsala internationalization model, the resource-based view, dynamic capability theory, and global value chain analysis, it explores how Chinese enterprises can enter institutional markets and achieve … Read More

Analysis of Haier's Market Entry Strategies in Southeast Asia

Zhiqing Fang

pp.59-64 DOI: 10.62051/r36wzw94

Abstract: As global economic integration deepens, corporate internationalisation has become a key trend for future development, and regional economic cooperation is increasingly supported by many countries and regions as a crucial approach. Southeast Asia, a significant overseas market, possesses distinct advantages in its development. Benefiting from its advantageous geographical position linking sea and land, the region demonstrates exceptional competitiveness on the international stage, offering many … Read More

China’s New Energy Industry Gains Ground in Global Value Chain: The Case of BYD Auto

Xiyuan Gao

pp.65-69 DOI: 10.62051/s8px0w02

Abstract: In recent years, China’s new energy industry has experienced rapid growth, with the China New Energy industry now representing China’s innovation and transformation. China has progressed from “catching up” to “leading the way,” having shaped the global pattern of new energy. Especially in the automotive industry, BYD has effectively reduced its reliance on the global supply chain through a vertical integration strategy and increased its self-reliance and control capabilities in the new energy … Read More

The Impact of Carbon Tariff Policies on China’s Steel Export Industry-A Perspective Based on the EU Carbon Border Adjustment Mechanism

Yuntong Dong

pp.70-75 DOI: 10.62051/4s5byp64

Abstract: As the world's first cross-border carbon tariff policy, the EU Carbon Border Adjustment Mechanism (CBAM) will profoundly impact international trade patterns and carbon reduction pathways upon implementation. Steel, among the first industries included, faces heightened scrutiny due to its high energy consumption and emissions. This study examines China's steel exports to identify practical challenges confronting the sector under carbon tariffs, analyzes specific policy impacts and potential … Read More

Analysis of the Impact of Hainan's Customs Closure Policy on Merchandise Trade-Taking Cosmetic Products as an Example

Yuyan Ren

pp.76-82 DOI: 10.62051/t6nkkv80

Abstract: Hainan's customs policy ("open at the first line, control at the second line, freedom within the island") represents a significant opening-up initiative in China. This paper examines its impact on commodity trade using cosmetics as a case study, focusing on three dimensions: trade patterns, market structure, and corporate strategies. In terms of trade patterns, the policy significantly accelerates customs clearance, while "zero tariffs" reduce trade costs, helping enterprises boost profits. … Read More

Analysis of Consumer Behaviour and Platform Optimization Strategies for the ENOTECA Wine Brand in the Chinese Market

Jia Li, Jiarun Li, Yixuan Wang

pp.83-88 DOI: 10.62051/1bpwxx89

Abstract: This paper examines the cross-border e-commerce operations of Japanese premium wine retailer ENOTECA in China. Against the backdrop of China's expanding online wine market, rising cross-border e-commerce share, and the 2024 reduction of wine import tariffs to 14%, it focuses on ENOTECA's challenges of low platform conversion rates and high payment abandonment rates. Despite operating within a period of developmental opportunity, ENOTECA's performance is constrained by unclear tax notifications, … Read More

Research on Empowering Small and Medium-sized Enterprises’ Financing through Supply Chain Finance

Hoyin SIU

pp.89-94 DOI: 10.62051/yegp7d10

Abstract: The problems of difficult financing and high costs have become major obstacles restricting the healthy and sustainable development of small and medium-sized enterprises (SMEs) in China. As an emerging financing model that integrates production and finance, supply chain finance can alleviate this prominent issue to a certain extent by integrating the information flow, logistics, and capital flow of upstream and downstream enterprises in the supply chain. This paper deeply analyzes the financing … Read More

Research on The Integration of Brand Management and Marketing Strategies

Angilyn Ping Ting Wu

pp.95-100 DOI: 10.62051/5jgkza16

Abstract: In the current economic environment, brands have become one of the key tools for a company’s success. Therefore, in order to achieve greater brand value, companies must formulate corresponding marketing strategies. Only by organically combining the two can companies have stronger competitive capabilities in the market and cultivate long-term brand loyalty among consumers. This paper studies how to organically integrate brand management with marketing strategies to enhance overall corporate … Read More

A Review of Differentiated Paths of Industrial Support Policies in the Process of Urban Agglomeration Integration — Taking Beijing-Tianjin-Hebei, Yangtze River Delta and Guangdong-Hong Kong-Macao as Examples

Xiyao Zhang

pp.101-107 DOI: 10.62051/tn39ma25

Abstract: This paper takes the three major national-level urban agglomerations of Beijing-Tianjin-Hebei, Yangtze River Delta, and Guangdong-Hong Kong-Macao Greater Bay Area as research subjects, systematically reviewing their differentiated practical paths in industrial support policies during the integration process. Through comparative analysis, it provides an in-depth examination of the distinctive policy models in these regions: Beijing-Tianjin-Hebei constructs collaborative complementary pathways … Read More

A Review of Policy Coordination Mechanisms for Green Transformation of Urban Industrial Structure Under The Dual Carbon Goals

Baojun Liu

pp.108-113 DOI: 10.62051/n9m2s455

Abstract: Under the dual carbon goals, Chinese governments at all levels have introduced a large number of industrial policies in the fields of green manufacturing, clean energy, and circular economy. Their coordination mechanism is of great significance to the green transformation of urban industrial structure. Therefore, the important topic of research on the coordination mechanism of various policies has received widespread attention. Based on a large amount of literature review, this article … Read More

Transsion's Product Positioning Strategy for Emerging Markets

Shengyu Wu

pp.114-119 DOI: 10.62051/ma6qbn76

Abstract: Competition in the global smart phone market has intensified, and emerging markets have become the key areas for enterprise growth. Chinese Brand Transsion is an African smart phone head manufacturer, and its layout has reference value for overseas expansion. This paper uses literature review, second-hand data comparison and multi-case analysis to explore the product positioning strategy, high-end path and challenges of Transsion in emerging markets. The results show that the localization … Read More

Managing Employee Mental Health: The Role of Organizational Culture in The Hong Kong Context

Chuyun Zeng

pp.120-126 DOI: 10.62051/k2evz760

Abstract: The emphasis on workplace mental health is intensifying; nonetheless, a substantial disparity remains between policy execution and effective employee assistance. This study asserts that the "policy-culture chasm" emerges from the disregard for entrenched organizational norms, like the glorification of overwork and widespread shame, which hinder formal attempts. This research examines ways to overcome the gap through cultural calibration within the high-pressure culture of Hong Kong. Utilizing a … Read More

Innovation of Management Systems in Multinational Enterprises in A Multilingual and Cultural Environment

Yixin Zhang

pp.127-132 DOI: 10.62051/exr8ch09

Abstract: Multinational enterprises continue to develop in the tide of globalization, but they still face many challenges. This is despite the fact that multiculturalism is seen as an important part of business. Promoting diversity, inclusion and equality among employees has become a core corporate value, but language differences are still a key challenge that hinders effective collaboration among cross-cultural teams. Language barriers can easily lead to information transmission errors, insufficient … Read More

A Study on The Workplace Values and Work Attitudes of Post-00s

Yawen Tan

pp.133-137 DOI: 10.62051/6ha3aw02

Abstract: In recent years, as "post-00s are rectifying the workplace" has become a hot topic in society, the post-00s generation has gradually entered the workplace, and their professional values and work attitudes have attracted widespread attention from academia and enterprises. Compared with the post-70s generation, who focused on stability and responsibility, the post-80s generation, who emphasized promotion and material rewards, and the post-90s generation, who pursued balance and autonomy, the … Read More

Research Overview on How Enterprises Can Breakthrough Amidst The Background of Consumption Downgrading: A Case Study of Mixue Ice Cream

Sihan Huang, Shudan Luo

pp.138-144 DOI: 10.62051/wz761279

Abstract: On the macro trend of consumption downgrading, consumers pay increasing attention to overall cost-effectiveness, preferring cost-performance ratio-higher products. Tea beverage enterprises face both opportunities and challenges. Based on the analysis of the famous tea beverage brand, Mixue Ice Cream, this paper, through the SWOT model, explains its strategic adaptation to the consumption downgrading phenomenon, comparing it to Naìsnow. Findings are that Mixue Ice Cream, through the cost … Read More

Analysis of The Mechanisms of Netizens' Emotional Communication Before and After Public Opinion Reversal: A Case Study of The Rosy Zhao’s Fake Assistance to Farmers

Tszwing Guo

pp.145-149 DOI: 10.62051/5y5dbx04

Abstract: This paper systematically examines the phenomenon of public opinion reversal through the case study of the "Rosy Zhao’s Fake Assistance to Farmers". This study specifically examines the diffusion mechanisms of online affect and the differentiated roles played by various actors, investigating the transformation of online emotions from intense negativity to rational reappraisal, in response to evolving information. The study identifies three key stages in the public opinion reversal process, … Read More

Internal Control, Corporate Performance and Social Responsibility: A Study Based on Manufacturing Enterprise Data

Jiahao Zhao

pp.150-160 DOI: 10.62051/hnqnbk41

Abstract: This paper examines the links between internal control, corporate performance, and corporate social responsibility (CSR) in Chinese manufacturing firms. Based on principal-agent theory and mediation analysis, it considers whether CSR acts as a channel through which internal control affects performance. Using financial data from listed manufacturing enterprises and applying Stata for empirical tests, the results show that stronger internal control improves financial performance and that CSR plays … Read More

Beyond NPV and IRR: An Integrated Capital Budgeting Rule for Real-World Investment Decisions

Junchen Fan

pp.161-165 DOI: 10.62051/a4ybws71

Abstract: In making investment decisions, rational investors use rules to determine whether projects or assets are worth undertaking, taking into account the time value of money and risk. Prevalent investment rules include NPV, IRR, payback/discounted payback, the profitability index (PI), and “equivalent annual” methods; among these, NPV & IRR are the benchmark most commonly recommended. In this article, the following questions will be discussed: What is the better investment rule for investing in the … Read More

Portfolio Theory Application and the Contrast with Reality

Xinyi Chen

pp.166-169 DOI: 10.62051/05jtjn21

Abstract: This study aims to address the issue of portfolio theory, which has been a topic of debate in financial. The main objective of this study is to investigate if the portfolio theory is useful in practical application. This study determines the feasibility of applying portfolio theory in real life through comparison and case studies. The findings of the study indicate that its assumptions about investor behavior often conflict with reality. The study provides insights into financial, which may … Read More

The Dividend Discount Model: A Critical Examination of Theory and Practice

Donghang Li

pp.170-173 DOI: 10.62051/3wc3ve50

Abstract: The Dividend Discount Model (DDM) stands as a foundational theory in financial economics, proposing that a stock's intrinsic value is the present value of all its future dividends. This paper provides a critical examination of the DDM, evaluating its theoretical contributions alongside its practical limitations. While the model offers significant pedagogical value by establishing a clear, cash-flow-based framework and illuminating the core drivers of value—dividends, discount rate, and … Read More

The Gordon Growth Model’s Validity in the Modern Era: An Empirical Analysis of its Performance in Valuing Dividend Aristocrats vs. High-Growth Tech Stocks

Ila Zi Ye

pp.174-179 DOI: 10.62051/s49e2v61

Abstract: Asserted by the foundational principle of finance, the concept of an asset's value is the present value of its future cash flows. For equities, the Dividend Discount Model (DDM) operationalizes this principle, particularly the Gordon Growth Model (GGM). However, the modern market is increasingly dominated by technology firms that reinvest all profits into growth rather than paying dividends, presenting a fundamental challenge to this traditional framework. This paper investigates the … Read More

A DID Empirical Analysis of The Impact of Urban Purchase Restrictions on Residents' Consumption Structure

Yixuan Li, Miaoying Wang

pp.180-188 DOI: 10.62051/w7ph1k70

Abstract: To assess the dynamic impact of the housing purchase restriction policy on the consumption structure of residents and its mechanism of action, this study constructs a theoretical analysis framework that includes the mediating effect of housing prices. Based on the urban panel data of Beijing from 2010 to 2023, we conducted an empirical test using the difference-in-differences method. The research results show that the impact of purchase restrictions on the consumption structure of residents has … Read More

Practice and Insights of Marvel's Promotion and Marketing Strategies from the Perspective of IP Life Cycle

Zihang Yang

pp.189-193 DOI: 10.62051/9wqbqy11

Abstract: With the industrialization of the cultural industry, IP has transcended the form of single works such as novels and comics, and developed into a content ecosystem covering multiple media including comics, films and TV series, as well as multiple scenarios like cinemas, home TVs and theme parks. The IP Life Cycle Theory, derived from Vernon’s Product Life Cycle Theory and later extended to the IP field, divides IP development into four stages: Incubation, Growth, Maturity and Continuation. Due to … Read More

Economic Impact of High-Speed Rail: A Case Study of The Beijing-Shanghai Line

Ziyi Lu, Qiaochu Zhang, Qiongyuan Zhang

pp.194-201 DOI: 10.62051/t91sje49

Abstract: In this study, the impact of Beijing-Shanghai high-speed railway on urban economic growth has been explained in combination with case studies, literature reviews, and This paper uses mixed methods, a systematic literature review combined with a deep case study. Factor aggregation and mobility perspective; Industrial structure optimization perspective; Spatial spillovers effects perspective Combined with the case study, the paper also examines the literature on the Beijing-Shanghai High-Speed … Read More

Research on the Construction Path of Organizational Resilience for Small and Medium-sized Enterprises under the Background of Digital Transformation

Yihan Zhou

pp.202-209 DOI: 10.62051/kjgcgv04

Abstract: In the context of digital transformation, this study focuses on the path for small and medium-sized enterprises (smes) to build organizational resilience, because with the rapid development of digital technologies and the increasingly uncertain external environment, smes are facing unprecedented challenges and opportunities, and organizational resilience is a key capability for their sustainable development. Based on the theories of organizational resilience and digital transformation, this … Read More

Analysis of the Role Path of Green Credit Policies in Influencing Enterprises' Green Transformation through Bank Credit Allocation

Yuze Shao

pp.210-218 DOI: 10.62051/n6p7j091

Abstract: Green credit policy is the subject of study in this paper, which explores how it exerts influence on the green transformation of enterprises through bank credit allocation. As China's ecological civilization construction continues to deepen, green credit plays an important role in financial support for green development, and the effects and transmission mechanisms of related policies have attracted increasing attention. This study first reviews the development process and theoretical basis of … Read More

Research on Pechoin’s Digital-Intelligent Brand Management Model: A Case Study of a Chinese Time-Honored Cosmetics Brand

Yueming Zhao

pp.219-229 DOI: 10.62051/nee6jv81

Abstract: With the rapid development of digital and intelligent technologies, time-honored brands are undergoing profound structural changes driven by both globalization and digitalization. These brands, while carrying national cultural memories and commercial reputation, also face real challenges such as brand aging, market shrinkage, and consumer loss. This paper takes the representative Chinese time-honored brand "Bai Que Ling" as its research object to explore the empowering mechanism and practical … Read More

Theoretical Framework and Risk Analysis Research on the Application of Artificial Intelligence in Financial Risk Management

Yipeng Liu

pp.230-238 DOI: 10.62051/j2nkp479

Abstract: The theoretical framework for the application of artificial intelligence in financial risk management and related risk analysis are what this paper aims to explore. Due to the increasing complexity of financial markets and the explosive growth of data volume, traditional risk management methods have become difficult to meet the demands of the modern financial system, while artificial intelligence technology has strong data processing, pattern recognition and prediction capabilities. It is … Read More

Research on the Balance Point between Government Intervention and the Free Market

Dingyuan Liu

pp.239-245 DOI: 10.62051/fs0kma45

Abstract: The changing global economic landscape has once again made the relationship between government intervention and the free market a hot topic in economic research. This paper systematically reviews the theories of the two to analyze the dialectical relationship between them, and studies the evolution process and effectiveness of the relationship between the government and the market under different economic systems by using a combination of literature analysis, case comparison, and quantitative … Read More

Impact of AI and Automation on China's Labor Market

Yiming Chen

pp.246-251 DOI: 10.62051/d2r9mj41

Abstract: This essay analyzes how automation and artificial intelligence affect China’s labor market, focusing on the differences between different sectors, skill levels, and groups of the population. The study has shown that although AI improves the competitiveness of industries and productivity, income inequality and job polarization were worsened, based on legislative documents, secondary data, and an analysis of Foxconn's production automation case study. High-skilled jobs benefit due to an increase … Read More

Forecasting Realized Volatility of Crude Oil: Can MLP-Based Models, CNN-Based Models and Transformer-Based Models Help?

Guoyu Gu

pp.252-270 DOI: 10.62051/zqhcta04

Abstract: The Shanghai crude oil futures market exudes a distinct speculative attribute, which highlights the importance of Volatility Prediction. Therefore, this study uses the improved models based on MLP, CNN and Transformer for time series forecasting to predict the realized volatility of Shanghai crude oil futures. The results of this study show that MLP-based models, CNN-based models and Transformer-based models are better than the original model in three aspects of extending window, rolling window … Read More

The Impact of Departure Audits of Natural Resource Assets By Leading Cadres on The Financing of Heavily Polluting Enterprises

Haipeng Zhang

pp.271-281 DOI: 10.62051/2j3xmh69

Abstract: This paper takes the implementation of the natural resource asset departure audit of leading cadres as a quasi-natural experiment and uses the differin-differences model to explore the impact of the natural resource asset departure audit of leading cadres on the financing constraints of heavily polluting enterprises and its mechanism of action. The study found that the implementation of the natural resource asset departure audit for leading cadres significantly alleviated the financing … Read More

Research on The Impact of The Development Level of Digital Trade on China's New Quality Productivity

Wenhao Cui

pp.282-296 DOI: 10.62051/73d79w64

Abstract: Against the dual backdrop of the digital economy becoming the core engine of global economic growth and the rise of new quality productivity construction as a national strategy, this article focuses on the empowering effect and mechanism of digital trade on new quality productivity. Firstly, based on the connotation and essence of new quality productivity, a four-dimensional evaluation index system covering new quality workers, new quality labor objects, new quality labor materials, and economic … Read More

The Impact of Economic Policy Uncertainty on Corporate Capital Structure

Wanye Di

pp.297-307 DOI: 10.62051/1gs5nd47

Abstract: Rising economic policy uncertainty has become a defining feature in China and globally in recent years. This paper reviews and synthesizes relevant literature on economic policy uncertainty and its impacts. Using the Baker Index as a measure of economic policy uncertainty and selecting Shanghai and Shenzhen A-share listed companies as the sample, it empirically examines the effects of economic policy uncertainty on corporate capital structure.Employing panel regression for benchmark analysis, … Read More

Predictability of Stock Market Returns Based on Trading Turnover: Evidence From The Chinese Market

Yiting Weng

pp.308-318 DOI: 10.62051/87efa781

Abstract: Trading turnover serves as a critical indicator of market activity. This study conducts an empirical analysis using monthly returns of the Shanghai Stock Exchange Composite Index and market turnover data from January 2000 to December 2022. By decomposing market turnover into "good turnover" and "bad turnover," we investigate the relationship between different turnover components and equity returns. The findings indicate that both total market turnover and good turnover significantly predict … Read More

Navigating ESG Disagreement: Effects on Corporate Green Innovation in China

Lin Shen

pp.319-327 DOI: 10.62051/mkaq6r19

Abstract: ESG performance is a key non-financial metric for corporate sustainability, yet significant rating divergence exists across agencies due to methodological and contextual differences. Using 2010–2021 panel data of Chinese A-share listed firms, this study examines ESG rating divergence's impact on corporate green innovation (proxied by green patent grants) and the mediating role of financing constraints (measured via the SA Index). ESG rating divergence is calculated as the standard deviation of … Read More

Research on Green M&A Performance of China National Nuclear Power From The Perspective of Resource Orchestration

Ying Wang

pp.328-335 DOI: 10.62051/vh1tq378

Abstract: With the Chinese government attaching increasing importance to development concepts such as "carbon peaking and carbon neutrality" and "green sustainable development", clean energy has gradually become a key focus area for power enterprises in their transformation. The society's demand for clean energy is constantly rising, and the new energy industry is showing a trend of rapid development. At present, new energy technologies such as solar energy and wind energy have become relatively mature, … Read More

Audit Failures In Small and Medium Sized Accounting Firms Under China’s Revised Securities Law

LingHan Bu

pp.336-343 DOI: 10.62051/3gj63219

Abstract: After China’s new Securities Law shifted securities related audit entry from an approval to a filing regime, small and medium sized accounting firms gained easier market access, but audit quality risks increased. Drawing on information asymmetry and audit collusion theories, this study uses a case analysis of Zhongtian Huamao’s audit of ST Wangli to reconstruct the failure process and identify key deficiencies, including impaired independence, inadequate procedures and evidence for fixed assets, … Read More

Influence of The Carbon Border Adjustment Mechanism on The Imports of Passenger Vehicles to Germany

Jasmin Remmel, Dayan Lin

pp.344-350 DOI: 10.62051/fgwgez02

Abstract: Climate policy is increasingly influencing trade patterns through carbon-cost differentials. This paper investigates how the EU Carbon Border Adjustment Mechanism (CBAM) may reconfigure Germany's passenger-vehicle imports once carbon pricing at the border becomes binding. Using a simulation-based gravity framework with a balanced panel of 47 exporters (2008–2024), the author constructed two CBAM exposure measures: (i) a Structure Effect capturing ETS-aligned carbon-price asymmetries scaled by … Read More

Research on The Impact of Local Government Debt on Corporate Green Innovation

Lulu Cheng

pp.351-359 DOI: 10.62051/76kj0761

Abstract: The 1994 tax-sharing reform and the 2008 financial crisis triggered an expansion of local government debt in China. This not only disrupts financial market order and increases systemic financial risks but may also exert significant impacts on micro-level enterprises. Such effects include squeezing corporate credit resources, distorting resource allocation within enterprises, and ultimately affecting corporate green investments and innovation. Green innovation serves as both a key driver for … Read More

The Impact of Uncertainty Indices on The Spillover Effects in The Global Commodity Market

Liqian Kong

pp.360-369 DOI: 10.62051/qf0jcx79

Abstract: To explore the spillover relationships among commodity markets and the impacts of uncertainty index variables thereon, this paper employs the DY spillover approach to investigate the mean spillover effects across 10 sub-sectors of the commodity market. Additionally, 8 uncertainty index variables are selected for regression analysis based on the AR model, aiming to examine how these uncertainty indices affect the mean spillovers among commodity markets. The empirical findings are as follows: … Read More

The Spillover Effects of WTI Crude Oil and The Stock Markets of China and The United States

Meiru Feng

pp.370-379 DOI: 10.62051/h9kyqq38

Abstract: Fluctuations in crude oil prices can affect China's national economy through the transmission of market information. Based on this background, this paper selects the relevant index data of WTI crude oil and the stock markets of China and the United States from January 5, 1993 to April 30, 2024 as the research objects, and constructs the VAR-BEKK-GARCH model, the DY spill-over index, and the VAR for Var model to study the volatility spillover and extreme risk spillover between crude oil and the … Read More