All of the articles in this proceedings volume have been presented at the International Workshop on Navigating the Digital Business Frontier for Sustainable Financial Innovation (ICDEBA 2024) during November 15-17th in Hangzhou, China. These articles have been peer reviewed by the members of the Program...

Urbanization has increasingly shaped the global socio-economic landscapes, bringing opportunities and challenges through higher living standards and heightened economic inequality. The paper explores the intricate relationship between urban policies, particularly zoning policy, economic inequality, and...

Challenges have struck cities throughout human history, from natural disasters to large scale revolts. Though new challenges are emerging in par with the rise of digital technology that spurred international migration. Gentrification, an increasingly prevalent phenomenon combated by superstar cities,...

This paper examines the impact of globalization on the economic development of Hong Kong, focusing on the dual aspects of opportunities and challenges it presents. The research is set against the backdrop of Hong Kong’s transformation into a global financial hub, heavily influenced by its integration...

Flood is an important disaster harming populations around the world. With the rapid changes in the world today, climate change has aggravated the rigorousness of flooding in recent years. Urban floods also can cause large amounts of damage. Therefore, it has become an urgent issue to improve cities’...

Policy makers and economists need to study how fiscal policies work on economic growth and wealth gap, and two major issues in this field are related to each other to form a crucial research topic. Differences in the construction of tax systems in an economy lead to a significant effect on the inequality...

Companies are increasingly acknowledging the importance of promoting financial inclusion and augmenting social well-being by supporting the development of digital financial inclusion, as the significance of sustainable development continues to grow. This may be achieved by enhancing their environmental,...

This paper indicates the influence of fluctuations in the Renminbi (RMB) exchange rate on bilateral trade between China and countries involved in the Belt and Road Initiative (BRI). By analyzing the effects of different exchange rate regimes, this study aims to provide insights into how RMB exchange...

CAPM is a revolutionary concept because it provides a quantitative method to assess investment risk and expected return. In the formula of CAPM, beta represents an investment that risk to a market portfolio. If a company has a beta higher than one, then it is seen as being higher risky than the market....

This project aims to make a specific analysis of the business strategies and estimates the value of NetEase. NetEase is an advance online gaming company that has grown rapidly and expand its firms overseas making great result. This thesis will firstly introduce the background and the current situation...

This essay reflected and compared the business performance of two dairy companies in China within the past few years. According to the increasing focus of the public on the intake of nutrients, the dairy industry has been greatly affected. Due to the business property of Yili and Mengniu, there is a...

In 2019, the new coronavirus broke out in Wuhan, China. Many people have died from the virus, and while confirmed cases have spread rapidly, the world economy has been hit hard. Because of the COVID-19 pandemic, people’s Daily lives and eating habits have been greatly affected, people are going out less...

Risk assistance ability is always based on degree of sophistication and applicability of the management style, and based on this, an indispensable factor that in the business management mode is biases. According to the research, most the papers introducing type and functions of biases in their theory,...

Considering the rapid expansion of Internet finance, governments and regulatory authorities across various nations have implemented new policies to regulate the development of this burgeoning sector while mitigating potential systemic risks. These policies foster financial innovation, ensure stability,...

The phenomenon of Initial Public Offering underpricing is present in nearly every country or region with a stock market. To explain this occurrence, Western scholars have proposed a range of theoretical hypotheses, though these theories often have weak explanatory power and exhibit certain limitations....

China used to prioritize high-speed expansion, but in recent years, high-quality development has replaced it. To better achieve these economic development objectives, China’s monetary policy framework is transitioning from a quantitative to a price-based approach. Small and medium-sized enterprises (SMEs)...

This paper aims to explore the pivotal role of investment banks in mergers and acquisitions (M&A) and how they influence decision-making, success rates, and risk management. Through a detailed review of the existing literature, the study highlights the critical contributions of investment banks to...

In recent years, with the substantial growth of China’s economic power, the government has actively promoted the “going out” strategy, encouraging a growing number of Chinese enterprises to participate in cross-border mergers and acquisitions. Through these mergers and acquisitions, companies can not...

In the modern economic system, the interactions between macroeconomic variables and financial markets constitute a complex and closely related network of relationships. This study aims to systematically analyze the impact of macroeconomic variables on China’s financial market and its transmission mechanism....

The issue of rising carbon emissions due to rapid economic development has gained prominence. The application of green finance is a crucial tactic for influencing and lowering carbon emissions. Examining the connection between urban emissions of carbon and green finance is essential to advance the area...

The policy orientation of ESG development underscores the importance of listed companies standardizing their ESG disclosures. Actively disclosing ESG information can not only enhance internal operational efficiency but also foster business expansion and drive innovation. By making their ESG practices...

Using a neoclassical growth model, this paper examines the economic impact of population aging and negative population growth rate at national levels in China from three perspectives: labor supply-demand relationship, inter-industrial structure variations and or fiscal sustainability. Using a combination...

Inflation and unemployment rate are both important indicators related to a country’s macroeconomic development. Wage level is an essential factor reflecting the livelihood of a nation’s citizens. This paper adopts the method of multiple linear regression, building an econometric model to investigate...

This study aims to explore the influence of cultural background on decision-making styles, risk appetite, and investment interests, using macro and micro analysis methods, with the United States and Japan as the main research subjects. The study first analyzes the cultural background of the two countries...

This paper investigates the impacts of the COVID-19 pandemic on diverse sectors within the U.S. stock market, utilizing the Fama-French five-factor model as the analytical framework. The explanatory power of the model under extreme market conditions is assessed by analyzing stock returns for 49 industries...

This paper is research the impact of managerial ownership on firm performance according to analysis private enterprises and SOEs from China’s A-Share market. Based on China’s special socialist background, the managerial ownership and management mode have significant difference. Compared to government-controlled...

This paper, guided by the concept of ESG (Environmental, Social, Governance), presents a comparative analysis of the current financing landscape in China and the United States. By selecting representative companies for case studies, the research explores the differences in financing models, including...

This research explores the influence of risk management strategies on the resilience of China’s Big Four banks: Industrial and Commercial Bank of China, China Construction Bank, Bank of China, and Agricultural Bank of China. Using financial data from 2018 to 2023, the study employs descriptive statistics...

This paper aims to explore the impact of China’s registration system reform on IPO pricing efficiency, and analyzes the current status of research and its shortcomings through a literature review. Studies have shown that the registration system reform may trigger market speculation and inhibit IPO pricing...

The COVID-19 pandemic has imposed a significant impact on the global gaming industry, causing disruptions across regions and reshaping consumer behaviours. This review article studies the multifaceted effects of the pandemic on gaming markets in China, the United States, and Japan, highlighting differences...

The automotive manufacturing sector is undergoing a significant transformation, which is mainly driven by innovations in sustainable technology and the increasing demands in electric vehicles (EVs). This transition to environmentally friendly technologies in the industry creates substantial opportunities...

In the early 20th century, economics and finance transitioned from qualitative assessment to mathematical modelling, as Irving Fisher’s 1930 model demonstrated. This model provided a crucial framework for comprehending consumption, savings, and investment behaviour amid uncertainty. With the increasing...

There are various stock selection methods nowadays, so choosing a process most suitable for investors is essential. This paper explores three main methods of stock selection: PE Ratio, ESG criteria, and the portfolio theory. Investors can adjust their methods by investment objectives, risk tolerance,...

After more than 30 years of rapid development, China’s capital market has provided a relatively broad investment and financing platform for all kinds of enterprises and investors. As stocks, the main trading varieties in the financial market, play an increasingly prominent role in investors’ asset allocation,...

The literature comparing Capital Assets Pricing Model (CAPM) and Arbitrage Pricing Theory (APT) is gradually increasing as more and more scholars are paying attention to CAPM and APT to illustrate the relationship between return and risk. However, there are few literature reviews in this area. This study...

Harry Markowitz developed portfolio theory in 1952, and it is a cornerstone of contemporary finance. Its goal is to achieve optimal asset selection within an investment portfolio. As per the notion, traders may achieve the optimal balance between risk and reward by appropriately diversifying their assets...

This paper explores the application of the Dividend Discount Model (DDM) and Free Cash Flow to the Firm (FCFF) in valuing companies, particularly focusing on CyberAgent Inc., a leading digital media and Internet group in Japan. The analysis demonstrates how DDM, with its emphasis on dividend payouts,...

This paper aims to give a detailed analysis of portfolio theory, a core theory in the current financial management field that enables the investor to determine the optimal combination of various assets in the portfolio to enhance returns while reducing risks. The research focuses on applying the identified...

As critical public service facilities, hospital buildings face unique challenges in managing energy consumption due to their dense occupancy and extensive equipment usage. HVAC systems account for a substantial portion of hospital energy expenditure. This study addresses these challenges by leveraging...

This article introduces the basic role and methods of company valuation and then link the valuation of the listed company to the value of its stock. Listed state-owned companies hold an important position in the Chinese financial market. This article evaluates the advantages and disadvantages of the...

The project is to make an analysis of the profit model by researching the business model and strategy, financial analysis, valuation for LVMH. LVMH Group is a good observation since it is the largest luxury group in the world. Demand for them is increasing rapidly, with increasing prices. Profit model...

This paper studies the various applications and impacts of data science in the field of consumer finance under the digital age and makes suggestions for the subsequent development of data science. This paper aims to increase the use and understanding of data science in consumer finance organizations....

Nowadays, more investors are trying to invest in different companies or projects to generate more profit. Thus, a method to evaluate stocks becomes necessary for investors. A method has been created to help investors always successfully invest by predicting the stock price by paying each company’s dividend,...

On January 29, 2024, Evergrande, a former Chinese real estate giant, officially declared bankruptcy. People unfamiliar with the complete story may have doubts about it and want to know the reasons behind it, so the research will be on why Evergrand will go bankrupt. This research will try to explore...

Companies involved in AI, such as Google, Microsoft, Amazon, Apple, IBM, Tesla, NVIDIA, Facebook, Intel, and Alibaba, faced a couple of risks during their operation, as referred by their annual reports for the year 2023. Of all the risks mentioned by more than one company, including collectibility risk,...

Valuation plays a crucial role in investment activity, especially for investors seeking profits in the stock market. Accurate business valuation is key to decision-making. Business valuation methods provide essential data to guide investment decisions by evaluating whether the stock is overestimated...

The financial market is recognized as a high-risk environment with numerous opportunities. Recently, stock market volatility has increased, particularly in the aftermath of the pandemic, leading to lower returns and limited macroeconomic growth, which have posed significant challenges for the financial...

Risks play an important role in investor’s decisions. So far, scholars have developed many strategies that can mitigate financial risks in theory, but for risks in real life, their changes are influenced by many complex factors. Therefore, constructing a valid investment portfolio in real life is still...

In the rapidly developing and competitive business environment, companies are under constant pressure to make decisions that keep growth, maintain financial stability, and ensure long-term development. As businesses expand and diversify, the complexity of their operations increases, making it important...

The thesis studies the company McDonald’s, starting from a basic aspect of the analysis, containing its founding time, capital structure, major shareholders and a financial summary. It then focuses on its financial analysis, profit analysis and relative valuation. The financial analysis includes the...

The global pandemic has brought very difficult times to the economy, with funding issues, supply chain disruptions, and changes in the way people buy. This article will examine this issue and, concerning real-life examples, explore the importance of having a good plan to anticipate and respond to economic...

This study explores the impact of social comparison on consumer decision-making, highlighting its influence on brand choice, product preferences, and spending behavior. The research shows that consumers often compare themselves to others, particularly aspirational figures, and this drives their desire...

This study aims to explore the specific impact of executives’ overseas backgrounds on corporate performance. With the acceleration of globalization, more and more companies are realizing the importance of international experience in senior management. However, whether the overseas background of executives...

Nowadays, the influence mechanism of macroeconomic variables on traditional investment targets has been fully studied, but few scholars have studied the impact of macroeconomic variables on the crypto market. Therefore, this paper uses the daily frequency data from July 31, 2023 to July 26, 2024, and...

This paper mainly concentrates on the correlation between financing constraints and firm performance. Therefore, this paper will provide more appropriate recommendations for different firms facing different levels of financing constraints, which can improve firm performance. As the theories of capital...

Currently, the application of alternative media data offers a new perspective for measuring investor sentiment. To better predict stock returns and achieve excess returns, this paper reviews both theoretical research on the impact of investor sentiment on stock returns and algorithms for measuring investor...

The herding effect is widespread in the financial market, which not only has an important impact on individual investment decisions, but also often causes financial market volatility. Therefore, the purpose of this paper is to explore what specific effects of the herd effect on individuals and the market,...

This paper provides a comprehensive analysis of the macroeconomic environment and investment potential of Marriott International. It begins with an overview of the U.S. economy, highlighting a projected GDP growth of 2.5% in 2023, driven by consumer spending and investment, while noting the adverse effects...

Tesla’s costs are divided into R&D, manufacturing, sales, administrative, capital, and operating expenses. R&D funds new vehicles, battery technology, and autonomous driving. Manufacturing costs cover labor, supplies, and operations. Sales costs are primarily driven by word-of-mouth and free...

With the occurrence of some natural disasters, people have gradually realized the importance of coexistence between humans and ecology, and the topic of green development has also attracted people’s attention. Therefore, the ESG concept has gradually emerged. Based on current research findings, this...

Stock forecasting has long been a popular issue in financial markets. Also comparing the effectiveness of different forecasting models is enormously important. In this paper, the prediction accuracy of the traditional Autoregressive Integrated Moving Average-Generalized Autoregressive Conditional Heteroskedasticity...

In recent years, with the increasing volatility in global financial markets, which is driven by factors including geopolitical events and policy uncertainty, the need for more effective portfolio optimization techniques has highly intensified. This study explores the use of machine learning, specifically...

Predicting stock market trends has become increasingly vital in today’s volatile global economy. This paper addresses the challenge of accurate stock market prediction, particularly within the Chinese stock market, which has been subject to unique regulatory and economic shifts. This paper explores the...

Due to the increasing application of Long Short-Term Memory (LSTM) models in stock price forecasting and portfolio allocation, it is crucial to tune the models for better accuracy. However, there is a limited study on how the hyperparameters of LSTM models affect the model performances. Therefore, this...

Stock price prediction is important for crafting optimal investment strategies in the financial sector. Traditional models like Autoregressive Integrated Moving Average (ARIMA), often used for their predictive simplicity, struggle with the dynamic nature of stock markets due to their linear constraints....

Traditionally, portfolio management focused on using historical averages and qualitative assessments of market trends. However, with more data available and improvements in computational power, more complex methods have been developed. This study aims to analyze the stock prices of 15 technology companies...

In order to show the applicability and accuracy of different models for predicting stock prices, it is necessary to select classical models for effective comparison. In this paper, the termination model and random forest model are used to analyze and compare five representative American stocks in detail....

Stocks are a favored investment channel, with their fluctuations closely linked to macroeconomic conditions. In recent years, global events such as COVID-19, the Russo-Ukrainian war, and the Israeli-Palestinian conflict have caused significant volatility in international stock markets. This paper investigates...

Financial statements are pivotal for forecasting the future performance of stocks. Harnessing the random forest machine learning model, this study aims to enhance the prediction of quarterly stock returns by focusing on twelve critical financial indicators. This paper utilized Principal Component Analysis...

Quantitative finance is becoming an increasingly useful tool in modern financial markets by utilizing computational power to optimize investment strategies. The idea of Quantitative finance originated from early theories like the Efficient Market Hypothesis and Random Walk Theory proposed by Louis Bachelier...

As an emerging sector within the financial industry, fintech has significantly enhanced the efficiency and innovation of financial services. However, this rapid development also introduces a range of potential risks, including systemic, regulatory, and technological risks. These risks are not isolated...

In this era of information technology and big data coexisting, the development of artificial intelligence has become an unstoppable trend, this essay analyses the impact of artificial intelligence on the real economy and the virtual economy by studying the research data and finding information, and at...

In the context of economic globalization, this study examines the strategic choices and challenges faced by Mixue, a new-style tea drink brand, during its global expansion. New-style tea drinks, as a blend of high-quality tea, fresh milk, and other novel ingredients, have attracted widespread attention...

The Artificial Intelligence (AI) technology is rapidly changing the live e-commerce industry. This study examines the application of AI technology in live e-commerce and its impact. With the rapid development of live e-commerce in China, AI anchors are gradually being widely used to provide 24/7 live...

Today, new transportation technologies are emerging as a result of higher education levels and more talented people. The rapid development of contemporary technology has led to significant advancements in various aspects of the whole society, while the two main considerable ones are about the urban mobility...

With the fast development of FinTech and big data technology, alternative data is sweeping the world at a rapid pace and plays an important role in credit risk prediction. At present, many lending institutions can use alternative data, a non-traditional emerging data, to forecast credit risk. This paper...

This study considers the relationship between the U.S. economic indicators and gold price. The four indicators investigated in this research are nonfarm payroll employment, unemployment, consumer price index (CPI) and personal consumption expenditures (PCE). This study helps to fill the gap that how...

In the framework of the current digital age, the rapid progressing in the field of Financial Technology has an important effect on the business model of commercial banks. Commercial banks’ digital transformation has been a major contributor to the financial system’s reform and wave of technical advancement....

Corporate financing strategies are facing changes that are unprecedented because of the fast development of the global economy and the continuous progress of science and technology. This study explores the transformation of corporate financing strategies in the context of the convergence of data finance,...

This paper summarizes the body of research on how social media affects investor mood and, in turn, stock market pricing, and the methods and models used to study and comparatively evaluate them. The methods and models can be applied to the analysis of other financial market price influences. This paper...

The development of the world needs the promotion of science and technology, in the face of global environmental and climate problems, the development of carbon finance is even more important, and fintech as a new age tool, it also plays an irreplaceable role. The purpose of this article is objectively...

In today’s environment, digital financial inclusion is a crucial part of rural development. Digital inclusive finance can efficiently address rural inhabitants’ financial requirements while also promoting the rural economy’s long-term development. Although numerous researchers have undertaken considerable...

With the development of digital technology, central bank digital currency (CBDC) has gradually become a key force in the global financial system. This paper reviews the multi-dimensional macroeconomic impacts of digital currencies, particularly CBDCS, including impacts on financial stability, commercial...

This paper mainly combs the ideas and methods of various researches on the application of alternative data in credit scoring and classifies, summarizes and summarizes the research results, so as to provide more comprehensive information for the current researches on this subject and clearer research...

This study seeks to investigate the influence of the accelerating adoption of mobile payments on traditional banking services, with particular emphasis on addressing pertinent challenges related to user acceptance, security and privacy protection, technological infrastructure, as well as regional differences...

As a new scientific product, financial technology is used by many enterprises and has the prospect of being scientifically studied. It is very important to the academic field of finance. The development of science has brought unprecedented changes to human society, enterprises use emerging cutting-edge...

With the continuous development of the hydrogen energy industry, it has become an important direction of the current global energy development. Simultaneously, the corporate credit risk within the burgeoning hydrogen energy sector has garnered significant attention from academic researchers. This paper...

In recent years, cryptocurrency has developed rapidly, and as a special financial product, its connection with traditional financial derivatives has naturally become one of the hot topics in current research. This study used Pearson correlation coefficient, rolling correlation, multiple regression model,...

Confronted with the imperative of interest rate liberalization reforms and intensified rivalry from third-party financial service providers, the traditional profit margins of commercial banks are experiencing significant compression, translating into a dwindling net interest income. Consequently, leveraging...

The rapid development of digital technology has spurred innovation across various industries, presenting both opportunities and challenges. For investment banks to keep pace with contemporary advancements, they must embrace financial technology and undergo a comprehensive digital transformation. This...

In today’s competitive financial landscape, customer loyalty is vital for the success of financial institutions. However, the growth of the finance market has led to increased customer churn, where clients switch to competitors for better services. Predicting customer churn is essential for financial...

Quantitative investment becomes the future direction of the financial market. More machine learning tools are used for stock price forecasting. Therefore, this paper combines traditional multi-factor stock selection models with machine learning. It filters fundamental and technical factors to construct...

Stock markets exhibit high volatility, driven by numerous factors, making accurate stock return prediction a challenging task. This paper provides a comprehensive review of machine learning models used to stock return forecasting, comparing traditional models like Linear Regression (LR), Support Vector...

Predicting stock returns presents a multifaceted challenge in the financial market, as it is influenced by a myriad of variables, including economic indicators, market sentiment, and company performance. Traditional predictive models often fall short in capturing the complexities and dynamics of contemporary...

In recent years, machine learning has gained substantial traction in financial markets, particularly in predicting stock prices and optimizing investment portfolios. Traditional methods for stock prediction, such as fundamental and technical analysis, have limitations in capturing complex market patterns....