Proceedings of Business and Economic Studies

The Concept of Stablecoins and Their Future Prospects

2025-09-26T14:53:39+08:00

Based on the author’s study and research in the virtual currency course at Columbia University’s Pre-College Summer Program, combined with discussions with American virtual currency experts, this paper systematically analyzes the definition, operating mechanisms, types, regulatory policies, application scenarios, potential risks, future development, and relationship with the US dollar of stablecoins. The article uses ten core questions as the main thread, comprehensively exploring the position and prospects of stablecoins in the global digital financial landscape, aiming to provide readers with a panoramic understanding from concept to trend.

A Study on the Rail Transit Economic Field and Its Interactive Development Relationship with Cities from the Temporal-Spatial Perspective

2025-09-26T14:53:40+08:00

As metropolitan areas expand spatially, they encounter constraints imposed by the fixed daily time budget. Rail transit enhances transport efficiency, reduces costs, and facilitates the formation of a “transit economic field” centered on rail networks, thereby alleviating such temporal-spatial pressures. This paper adopts an integrated temporal-spatial analytical framework. Following a conceptual clarification of the transit economic field, it dissects the mechanisms through which rail transit improves mobility and examines how this field influences urban spatial patterns, temporal dynamics, and their interrelationships. It constructs a theoretical framework to explain the co-development of transit economic fields and cities, supplemented by empirical case studies. The key findings are as follows: Firstly, the transit economic field represents a high-density development model that expands both horizontally and vertically around rail networks. It mitigates temporal-spatial conflicts. Secondly, with rail networks as the core, the field integrates diverse spatial functions, facilitating the establishment of economic connections and stabilizing temporal-spatial relationships. Thirdly, the transit economic field contributes to the preservation of urban natural ecosystems and enhances urban livability. Overall, this research can provide insights for promoting rail transit-oriented development transitions in large cities and urban agglomerations.

From Homo Economicus to the Rational Practitioner: Reconstructing Rational Choice Through Inner Cultivation in Journey to the West

2025-09-26T14:53:41+08:00

This paper examines the classic Chinese novel Journey to the West through the lens of rational choice theory, with a particular focus on the logic of cultivation and behavioral decision-making. By incorporating the notion of “inner cultivation” (xin xing xiulian) into the analytical framework, we introduce the concept of the “cultivating economic agent,” aiming to explore how rationality is generated, evolved, and transcended throughout the spiritual journey. The study argues that, in the context of Eastern culture, rationality is not merely an innate or static faculty but one that can be cultivated and transformed. Through textual analysis of the behavioral trajectories of Sun Wukong, Zhu Bajie, and Tang Sanzang, we uncover a structured behavioral logic of “goal orientation–institutional discipline–purification of the mind.” The findings suggest that although cultivation behaviors are not utilitarian decisions per se, they exhibit rational characteristics such as goal stability, autonomous will, and embedded incentives.

Cultural Homogenization in Ethnic Minority Heritage Tourism: Responses from Xijiang Qianhu Miao Village

2025-09-26T14:53:41+08:00

In recent years, the rapid expansion of heritage tourism within China’s ethnic minority regions has been accompanied by a significant challenge: the homogenization of cultural tourism imagery and experiences. This phenomenon adversely affects the sustainable development of local tourism industries. To foster the effective integration, preservation, and development of heritage tourism and ethnic cultures, this study presents a case analysis of Xijiang Qianhu Miao Village in Guizhou Province. Drawing upon field research and systematic analysis, the paper critically examines manifestations of homogenization across four key dimensions: cultural image representation, commercial operational models, experiential tourism methodologies, and the depth of cultural engagement. Based on these findings, the study proposes targeted strategies to optimize the cultural tourism experience within this specific context.

An Analysis of the Bidirectional Shaping Mechanism Between Short-Video Algorithms and Film Narrative Driven by the Attention Economy

2025-09-26T14:53:42+08:00

This study examines the bidirectional shaping mechanism between short-video algorithms and film narratives within the attention economy. It investigates how algorithmic logic influences cinematic storytelling and how films, in turn, contribute to the aesthetic enhancement of short-video content. Drawing on Communication Accommodation Theory and Berry’s Acculturation Theory, along with case analyses and industry data, this research demonstrates that algorithms push films toward high-stimulus, fast-paced narrative patterns—characterized by increased shot density and structural fragmentation—to capture and retain viewer attention. Conversely, films counter this influence by supplying narratively deep and artistically refined content that elevates short-video aesthetics and encourages critical audience engagement. This dynamic reflects a process of mutual adaptation rather than one-sided dominance. The study concludes that such interaction signifies a broader restructuring of cultural production logic, facilitating cross-media convergence while simultaneously posing risks to cultural diversity due to the prioritization of high-traffic content. Balancing this relationship will require policy support, algorithmic transparency, and strengthened industry self-regulation to preserve artistic integrity and cultural ecosystem diversity.

Construction of a Marketing System for Leveled Mathematics Readers from a User-Oriented Perspective: A Strategy Optimization Study Based on the 4V Marketing Model

2025-09-26T15:38:03+08:00

In the context of the continuous deepening of the “Double Reduction” policy and the growing demand for quality education, leveled mathematics readers, as an emerging form of publishing that integrates subject education and reading experience, face challenges such as unclear leveling logic, insufficient functional support, and weak user engagement. This paper introduces the 4V marketing theory and constructs an analytical framework from four dimensions: differentiation, functionality, added value, and resonance. Two representative products, “Climbing Mathematics” and “Spark Mathematics,” are selected for a typical case comparison to identify their strengths and weaknesses in content design, service systems, and brand operation, and to extract transferable strategic elements. The study finds that the user-value-oriented strategy based on the 4V model can effectively address the core issues in the market promotion and user relationship building of leveled mathematics readers, providing practical paths and theoretical support for educational publishing institutions to achieve product innovation and brand upgrading in this niche field.

Surpassing the Silence of the DSM: Discussion on the Digital Trade Dispute Resolution Path for China and the Global South Countries under the Paralysis of the WTO Appellate Body

2025-10-03T14:31:50+08:00

Since the appointment of new appellate judges by the World Trade Organization (WTO) was banned in 2019, the paralysis of the appellate body has seriously damaged the Dispute Settlement Mechanism (DSM), leaving a gap in resolving the escalating digital services trade disputes involving complex issues such as data flow and algorithm governance, and the existing WTO rules have failed to fully address these problems. Although MPIA offers a temporary alternative, its limited membership, uncertain executability, and untested applicability to new types of digital disputes make it inadequate. Meanwhile, the rising technological nationalism and fragmented regulations (such as the GDPR and the CLOUD Act) have exacerbated the global digital governance divide, marginalizing China and the countries in the Global South. This article analyzes the decline of DSM, highlighting the eroded rule predictability and legal fragmentation, and critically assesses the limitations of MPIA and the deficiencies of the traditional WTO framework in disputes such as data localization. A series of cases has revealed the trends of “pre-dispute governance” and unilateralism. In the face of this dual crisis, this article holds that China and the Global South must embark on a path of transformation from “system participants” to “system shapers,” rather than merely conforming. The strategies it explores include leveraging domestic regulations (such as data outbound security assessment), promoting regional cooperation (such as the mediation mechanism of RCEP), and advancing initiatives like the Global Data Security Initiative. This dual approach of maintaining “policy sovereignty” and establishing “compliance sovereignty” aims to ensure institutional autonomy, enhance rule-making capabilities, and establish a fairer, rule-based digital trade order in the context of DSM paralysis and regulatory fragmentation.

Bitcoin’s Weekend Effect: Returns, Volatility, and Volume (2014–2024)

2025-10-03T23:59:26+08:00

Using daily BTC-USD data from September 19, 2014 to January 21, 2024, this paper re-examines whether weekends differ from weekdays for Bitcoin along three margins: average returns, close-to-close volatility, and trading activity. We implement Welch mean comparisons and HAC-robust OLS with month fixed effects (bandwidths 5, 7, and 14). In the full sample and across subsamples (2016–2019; 2020–2023; early 2024), we find no detectable weekend–weekday gap in average returns, while volatility and trading activity are lower on weekends. The patterns are robust to using squared returns as a volatility proxy. The joint evidence is consistent with liquidity and attention mechanisms—quieter weekends rather than compensating return premia. Replication files reproduce all tables and figures.

Generative AI-Driven Personalized Advertising: Automated Creative Generation and Effectiveness Evaluation

2025-10-03T14:38:05+08:00

Recently, generative artificial intelligence (GenAI) has developed into a new form of technology that can create copy, image, audio, and video content and adapt it to individual preferences on every channel and moment automatically. But most fail at proof-of-concept, as the pipelines needed to govern data, generate it controllably, deliver it, and do causal evaluation are absent or poorly aligned. This paper puts forward a practical end-to-end framework concerning personalized advertising driven by GenAI, which combines representation learning, constrained generation, and experimentation into a single operating cycle. First, we pick a modular architecture: profiles and contexts go into controllable large language and diffusion models that yield brand-safe assets under deterministic conditioning, which are chosen via a contextual bandit and vetted by policy and equality guardrails. Second, we give a measurement stack going from straightforward A/B/n tests to doubly-robust uplift modeling, making it possible to find out diverse treatment effects that are good to use in business metrics (incremental conversions and profit). Third, we operationalize latency budgets, humans in the loop, red teams, safety filters, and post-deployment monitoring with clear escalation paths. We focus throughout the paper on reproducibility, privacy (consent, privacy, differential privacy, on-device inference), and on GDPR/CCPA-like governance specifications. We end on our actionable blueprint, algorithmic choices, sample prompts, KPIs, and step-wise rollout to achieve trustworthy performance upgrades without putting creative quality, fairness, or compliance to the test.