Proceedings of Business and Economic Studies

Research on Governance Mechanisms and Supply Chain Efficiency Optimization of the Smart Home Enterprise Ecological Collaboration Platform

Wen Peng — 2025-09-11

This paper focuses on the core challenges of the smart home enterprise ecological collaboration platform, and deeply discusses the absence of a governance mechanism and the inefficiency of the supply chain. The purpose is to improve the overall efficiency by constructing an effective collaborative governance framework and optimizing the supply chain process. It is found that the implementation of multi-agent dynamic contract governance, the construction of an open data sharing middle platform, the introduction of AI-driven elastic supply chain planning, and the establishment of a distributed cloud manufacturing network are the key paths. From the research conclusion, these measures can significantly improve the transparency of cross-agent collaboration, break the data barriers, and achieve the accurate matching of supply and demand, and finally promote the ecological collaboration efficiency of the smart home industry to achieve a substantial leap.

Research on Optimization of Project Procurement Management Process in Telecommunication Enterprises

Xiang Chen — 2025-09-09

In the project procurement management process of telecommunication enterprises, due to the complexity of technology, the professional procurement project manager is responsible for the whole process of professional procurement in a one-stop way. The integration of this management process superficially improves labor productivity, but in essence lacks effective checks and balances and supervision. In order to supervise the project procurement management process and ensure the legal compliance of procurement management, this paper studies the project procurement management process of telecommunication enterprises, proposes the optimization process of project procurement management in the segmentation of purchasing manager-business manager, and constructs a matrix project procurement management model, which will contribute to the overall improvement of the telecommunication enterprises’ procurement performance.

Research on the Optimization of Enterprise Business Environment from the Perspective of Public Administration

Feili Fan — 2025-09-09

The business environment directly impacts the level of regional economic development. As times change and society progresses, it is essential to create a favorable business environment for enterprises to better promote economic growth and social civilization. This paper explores methods and strategies for optimizing the business environment from a public management perspective. By analyzing the significance of optimizing the business environment and addressing its current limitations, it offers practical recommendations aimed at comprehensively advancing business environment optimization and providing a solid foundation for the healthy development of enterprises.

Good Faith as a Compromise between Civil Law and Common Law Jurisdictions in the Legislative History of the CISG

Jingchi Wen — 2025-09-08

There is a wide recognition that encompassing an obligation of good faith in every commercial contract is one of the most important advances in contract law in the twentieth century ^[1]. Despite the fact that this concept has been incorporated in the vast majority of national legal systems, its precise scope and application may vary from one to another, depending on the commercial traditions and customs of each legal system ^[2]. The fact that good faith has been treated differently in different national legal systems has also been reflected on the international level through its inclusion in international legal instruments, one of which is the United Nations Convention on Contracts for the International Sale of Goods (hereafter CISG). In this article, the legislative history of the CISG will be closely examined with the purpose of finding out how a compromise was reached between the common law countries, which expressly objected to the imposition of a duty of good faith, and the civil law countries, which explicitly endorse its incorporation. A logical result flowing from this historical examination, as will be submitted, is that the conceptual ambiguity of good faith is the underlying reasoning behind their fundamentally different attitudes towards the incorporation of this notion in the international commercial context.

A Study on the Effectiveness of Corporate Culture Management in the Context of Artificial Intelligence Development

Ben Li — 2025-09-09

This study focuses on the real-world context where artificial intelligence (AI) deeply permeates corporate operations, systematically exploring the core value, challenges, and optimization paths of corporate culture management during the process of intelligent transformation. By deeply analyzing the semantic deviations in the digitalization of cultural elements and the potential conflicts between algorithm-based decision-making and humanistic values in human-machine collaboration scenarios, and combining theories of organizational behavior with the characteristics of AI technology, a series of strategies for enhancing effectiveness are proposed, including dynamic cultural modeling and embedding cognitive-collaborative rules. With detailed empirical data and case studies, this research provides a theoretical basis and practical guidance for enterprises to achieve a dynamic balance between technological rationality and humanistic care.

Investment Risk Assessment of Sporting Goods Manufacturing Enterprises in Countries Along the Belt and Road Initiative

Deqiang Li — 2025-09-09

With the continuous promotion of the Belt and Road initiative, the sporting goods manufacturing industry, as a key sector of Chinese enterprises’ “going global” strategy, is actively expanding the markets of countries along the Belt and Road. However, there are significant differences in political, economic, and social environments among countries along the Belt and Road, which bring considerable uncertainties to the transnational investment of enterprises. Based on the investment environment of 70 countries along the Belt and Road, this paper constructs a risk evaluation index system including five dimensions: political and legal, economic and financial, socio-cultural, investment environment, and bilateral relations. The Criteria Importance Through Intercriteria Correlation (CRITIC) method is used to determine weight, Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) method is employed to evaluate the investment risks of each country. Furthermore, cluster analysis is used to classify the countries into low, medium, and high-risk levels. Finally, policy recommendations are proposed based on the characteristics of countries with different risk levels, providing decision-making references for sporting goods manufacturing enterprises in selecting suitable countries for investment, enhancing risk prevention capabilities, and improving investment success rates.

Research on the Impact of Green Finance on Industrial Structure Optimization: Based on an Empirical Study of the Six Provinces in Central China

Li Liu — 2025-09-09

Green finance, as an important policy to promote high-quality economic development, has become a focus of attention in the academic and policy circles for its promotion of industrial structure optimization. Based on the data of six provinces in Central China from 2010 to 2023, this paper constructs a comprehensive index of green finance development by using entropy value method and empirically analyses the impact of green finance on industrial structure optimization. The results show that the level of green finance development has a significant contribution to the optimization of the industrial structure in the central region. Accordingly, this study provides suggestions for deepening green finance reform and accelerating industrial transformation and upgrading.

Research on Optimization of Performance Management of Rural Commercial Bank Tellers

Haojie Li — 2025-09-09

Amid the deepening implementation of rural revitalization strategies and rapid fintech development, rural commercial banks—core financial institutions serving agriculture, rural areas, and farmers (the “three rurals”) and county economies—have seen their tellers’ service quality and operational efficiency directly impact market competitiveness and sustainable development capabilities. This study examines teller performance management in rural commercial banks from a business management perspective. By analyzing structural issues in existing performance management systems and integrating theoretical frameworks with industry case studies, it proposes systematic optimization measures. The research aims to provide practical references for establishing scientific and efficient teller performance management systems in rural commercial banks, thereby enhancing service quality, strengthening talent support, and better serving the rural financial market.

Discussion on the Dilemmas and Optimization Strategies of Rural Economic Development under the Rural Revitalization Strategy

Qixiao Sun — 2025-09-09

This article focuses on the challenges of rural economic development under the strategy of rural revitalization, and deeply analyzes the current situation of rural economic development. Research has found that although the rural revitalization strategy has achieved significant results in improving residents’ quality of life, promoting agricultural modernization, it still faces challenges such as severe loss of human resources, insufficient agricultural technological innovation, and backward infrastructure construction. In response to these challenges, this paper proposes optimization strategies from three aspects: strengthening rural education and talent team construction, promoting agricultural technology innovation and achievement transformation, and increasing investment in rural infrastructure construction.

Psychoanalysis of the Attention Economy in the Era of Big Data: A Topological Interpretation Based on Lacan’s Three Orders

Yisheng Lin — 2025-09-08

In the era of Big Data, the attention economy has emerged as a core logic of capital accumulation, yet behavioral economic explanations fail to penetrate the unconscious drives and desire structures underlying attention investment. This paper adopts Lacan’s topological framework of the three orders (the Real, the Symbolic, and the Imaginary) to conduct a psychoanalytic dissection of the attention economy. It argues that Big Data-driven attention mechanisms essentially manipulate desire across these three orders: algorithms, functioning as the “digital big Other,” exploit the Real’s traumatic surplus and the deferred structure of desire through infinite scroll and traumatic stimuli; regulate identity production in the Symbolic via visibility laws, social currency, and datafication; and construct narcissistic illusions in the Imaginary through filters, filter bubbles, and illusions of hyperconnection. Ultimately, the paper proposes an ethics of lucid attention, calling for critical algorithmic literacy, confrontation with the Real’s lack, dismantling of Imaginary illusions, and reclaiming sovereignty over attention—essential for preserving subjective dignity and human freedom in the digital age.

Decision Framework for Reverse Logistics Models of Decommissioned Wind Turbine Blades

Yuhao Wang — 2025-09-09

To address the recycling challenges posed by the global peak of wind turbine blade retirement, this study aims to establish a decision-making model for reverse logistics modes of decommissioned blades, resolving the multi-agent collaborative optimization problem under ultra-high logistics cost constraints. Based on the characteristics of centralized sourcing and determinable elements in blade reverse logistics, we developed three models dominated by wind power equipment manufacturers, operators, and third-party enterprises, respectively. The research analyzes influencing factors on reverse logistics mode selection and proposes a threshold decision mechanism for mode selection. Key findings reveal: technological strength serves as the core driver for manufacturer-dominated models; channel efficiency determines the applicability of operator-led models; insufficient economies of scale may hinder third-party model development. This study provides decision-making foundations for the resource utilization of decommissioned blades.

Research on the Construction and Application of Intelligent Financial Decision-Making Model Driven by Generative Artificial Intelligence

Limei Fu — 2025-09-09

This study focuses on the construction and application of intelligent financial decision-making models driven by generative artificial intelligence (AI). It analyzes the mechanisms by which generative AI empowers financial decision-making within a dual framework of dynamic knowledge evolution and risk control. The research reveals that generative AI, with its superior data processing, pattern recognition, and autonomous learning capabilities, can transcend the limitations of traditional decision-making models, facilitating a significant shift from causal inference to probabilistic creation in decision-making paradigms. By systematically constructing an intelligent financial decision-making model that includes data governance, core engine, and decision output layers, the study clarifies the functional roles and collaborative mechanisms of each layer. Additionally, it addresses key challenges in technology application, institutional adaptation, and organizational transformation by proposing systematic strategies for technical risk management, institutional innovation, and organizational capability enhancement, aiming to provide robust theoretical support and practical guidance for the intelligent transformation of corporate financial decision-making.

Revenge or Rationality? Investigating Post-Pandemic Luxury Purchase Intentions in Guangzhou Through an Extended TPB Framework

Xiaoqiang Fu — 2025-09-09

This study examines whether post-pandemic luxury purchase intentions in Guangzhou are primarily driven by emotional compensation (“revenge consumption”) or rational deliberation. Based on an extended Theory of Planned Behavior (TPB) model—incorporating brand trust and digital engagement—the analysis uses SEM on 412 consumer responses. Findings indicate that core TPB constructs significantly predict intention, and additional variables enhance explanatory power. Interaction effects suggest that emotional and cognitive mechanisms jointly shape behavior, forming a continuum. The study offers empirical insights into evolving consumer psychology in digitally mediated luxury markets.

Research on the Impact of Supply Chain Finance on Enterprises’ ESG Performance

Yun Li — 2025-09-09

With the continuous increase in global attention to Environmental, Social, and Governance (ESG) issues, an enterprise’s ESG performance has become an important indicator for measuring its comprehensive competitiveness. As an innovative financial model that integrates the industrial chain and financial resources, supply chain finance not only improves the capital liquidity and resource allocation efficiency of enterprises but also plays a positive role in promoting the sustainable development of enterprises. Based on the operational characteristics and internal mechanisms of supply chain finance, this paper systematically analyzes its impact pathways on enterprises’ ESG performance, aiming to provide theoretical support and practical references for enterprises to improve their sustainable development strategies and for the government to optimize policy-making.

Research on Empowering Small and Medium-sized Enterprises with Artificial Intelligence for Financial Decision Optimization

Lan Hai — 2025-09-10

With the acceleration of the iterative process of artificial intelligence technology, small and medium-sized enterprises have encountered innovative solutions in the field of financial decision-making, significantly enhancing their dynamic response capabilities to complex and changing market environments. This article summarizes the specific application scenarios and development trends of artificial intelligence in the financial management practice of small and medium-sized enterprises, and explores the path and positive impact of artificial intelligence on the optimization of financial decision-making in small and medium-sized enterprises from the current application status of artificial intelligence in financial decision-making, the unique challenges of financial management in small and medium-sized enterprises and the impact of AI technology on it, the application of artificial intelligence in financial decision-making optimization, and prospects.

Research on the Development Direction of Commercial Banks’ Corporate Business— Taking A Commercial Bank as an Example

Wenlong Hua — 2025-09-10

Against the backdrop of the gradual deepening of interest rate liberalization, the decline in effective credit demand, the intensification of competitive involution among commercial banks, and the complex international economic and trade situation, commercial banks in mainland China have entered a stage of low interest rates and narrow interest margins. Coupled with the continuous exposure of risks in retail customer groups and small and micro enterprises, many commercial banks have chosen to phase in expanding and strengthening their corporate business segments to smoothly navigate economic cycles and enhance operational resilience and sustainability. How the corporate business segment optimizes its asset-liability structure through asset allocation to achieve high-quality development is a major issue worthy of consideration by the entire industry. From the perspective of a medium-sized national commercial bank, this paper explores and proposes four key basic customer groups, six asset allocation models, and fourteen key industries for layout, for reference, and research.

Research on the Problem of Smart Public Transport for the Elderly

Juan Huang — 2025-09-10

Intelligent transportation systems integrate numerous advanced technologies such as the Internet of Things, artificial intelligence, and cloud services, thereby forming a comprehensive and intelligent transportation service platform. Although this platform has brought great convenience to people’s daily travel, it is insufficient in terms of adaptability for the elderly group. Based on this, the author will conduct an in-depth analysis of the current problems in the aging-friendly construction of smart public transportation in this paper and propose corresponding solutions, hoping to provide some references and help for readers.

Research on the Development of Supply Chain Finance in the Digital Age

Yun Li — 2025-09-10

The widespread application of new-generation information technologies has driven the continuous development of supply chain finance in terms of expanding the credit base, precise risk control, and diversifying financing channels. In response to this trend, the government has successively introduced a number of policies aimed at regulating, guiding, and supporting the healthy and orderly operation of supply chain finance. These policies include improving public data open platforms, optimizing the regulatory system, strengthening risk governance, accelerating the construction of exchanges, improving the unified registration and information disclosure system, and introducing relevant supporting policies. To further promote the high-quality development of supply chain finance, it is necessary to continuously improve the risk-control system, ensure the stable operation of the financial market, enhance financial governance capabilities, adapt to dynamic market changes, and improve the information disclosure mechanism to provide institutional support for the construction of the data credit system.

The Role of Investor Protection on Corporate R&D

Zhenna Huang — 2025-09-10

This study investigates the impact of investor protection on corporate R&D investment using panel data from Chinese A-share listed companies spanning 2015 to 2022. By employing OLS regression, mediation, and moderation analyses, the results demonstrate that robust investor protection mechanisms significantly enhance corporate R&D expenditures. The mediation analysis reveals that investor protection alleviates financing constraints and improves information disclosure quality, both of which serve as key channels for fostering R&D investment. Furthermore, internal control systems and media attention are identified as positive moderators, amplifying the beneficial effects of investor protection on R&D. In contrast, the equity Herfindahl index (HHI) does not exhibit a significant moderating role. The study also highlights that financial leverage, profitability, and equity concentration negatively influence R&D, while revenue growth exerts a positive effect. These findings underscore the critical role of investor protection in driving corporate innovation and sustainable growth, offering valuable insights for policymakers and corporate managers aiming to optimize R&D strategies through improved governance frameworks.

Digital Transformation-Digital Economy and Business Innovation

Fei Lui — 2025-09-10

The digital intelligence economy, driven by the dual wheels of digital industrialization and industrial digitalization, reconfigures the industrial ecosystem through intelligent technologies and data resources. Business innovation specifically relies on four types of practices: product intelligence, service wisdom, model ecology, and management intelligence, to revolutionize the value creation model. The two form a virtuous cycle of technology supply and innovative application, driving enterprises to complete digital transformation through the integration of intelligent technologies, process reengineering, precise marketing, and the construction of ecological platforms. However, they also face challenges such as data security, traffic barriers, and talent shortages, requiring the establishment of governance systems and training mechanisms to achieve sustainable development.

Application Analysis of Growth Strategies for Industrial Automation Enterprises in the Automotive Manufacturing Sector

Honggang Liu — 2025-09-10

As the demand for intelligent and flexible production in the automotive manufacturing industry continues to intensify, industrial automation enterprises are gaining ever-greater market opportunities and competitive advantages in this field. Based on a literature review and representative case studies, this paper constructs a theoretical framework for growth strategies and systematically analyzes the current application status and growth paths of automation enterprises in both complete vehicle and component production. The research finds that different growth strategies (such as vertical integration, horizontal diversification, and digital service transformation) exhibit varying applicability across upstream and downstream segments of automotive manufacturing, while simultaneously facing challenges related to technology integration, business models, and organizational change. In response to these issues, this paper proposes countermeasures such as optimizing R&D and customer relationship management, improving branding and after-sales service systems, and strengthening policy and industry environment support, thereby offering guidance for sustainable growth of industrial automation enterprises in the automotive manufacturing sector.

The Practice of Industry-Education Integration Under the “Government- Industry- University- Research” Model of University Industries

Xiangpeng Lu — 2025-09-10

The “government-industry-university-research” model has significant practical significance in promoting the development of industries in colleges and universities and improving the quality of talent cultivation. This paper first provides a brief explanation of the concept and significance of the “government-industry-university-research” model, then conducts an in-depth analysis of the problems faced by the development of university industries, and finally proposes effective solutions to the problems faced by the development of university industries, hoping to provide some references and lessons for promoting the continuous development of university industries and the integration of industry and education.

Research on Layout Optimization of J Company’s Grain and Oil Processing Workshop

Hailing Lu — 2025-09-08

Whether the workshop layout is reasonable has a significant impact on logistics efficiency, production costs, and production efficiency. This article takes the grain and oil processing workshop of Company J as the research object and conducts a field investigation of its grain and oil processing workshop using the SLP (System Layout Design) method. Based on the logistics volume of the production site and the correlation of each functional area, the correlation analysis is carried out from two aspects: logistics factors and non-logistics factors. The interrelationship diagram of the operation units in the workshop, the ranking of the comprehensive proximity of the operation units, and the location correlation diagram of the operation units were obtained, and the improvement plan was designed based on the principle of route optimization layout. Through the optimized design, transportation efficiency was enhanced, workshop area utilization was improved, production costs were reduced, and good social and economic benefits were created for the enterprise. It can also provide a reference for similar enterprises to carry out related work.

Research on the Impact of the Digital Economy on the Innovation of Small and Medium-sized Enterprises

Yun Li — 2025-09-08

In the context of the digital economy, digital finance is becoming an important tool and service model to support the technological innovation of small and medium-sized enterprises. However, insufficient awareness among managers, an imperfect service system, limited supply capacity, and a weak risk prevention and control mechanism have restricted its support effect. To give better play to the role of digital finance, it is necessary to accelerate the construction of a service platform connecting digital finance and technological innovation, promote inclusive development, improve the service system, and strengthen risk supervision. By optimizing resource allocation, enhancing the accuracy and security of services, it can provide strong support for the technological innovation and digital transformation of small and medium-sized enterprises and promote the high-quality development of digital finance.

Literature Review on the Investment Risks of Chinese Sporting Goods Manufacturing Enterprises under the “Belt and Road Initiative”

Deqiang Li — 2025-09-08

With the promotion of the “Belt and Road Initiative”, Chinese sporting goods manufacturing enterprises are increasingly active in foreign investment in countries along the route, but due to regional differences, the investment risks they face are becoming increasingly complex. Based on CNKI and Web of Science databases, this paper systematically combines the theoretical framework and research progress of sporting goods manufacturing enterprises’ outbound investment and its risk research, and focuses on analyzing the evolution, motivation, characteristics, and risk generation mechanism of enterprises’ outbound investment mode. It further discusses the types and causes of investment risks, the evolution and application of risk assessment methods, and deeply analyzes the unique risk characteristics of sports manufacturing enterprises. On this basis, combined with the shortcomings of existing research, a future research direction is put forward, which provides a reference for follow-up theoretical research and practical operation.

The Impact of Green Finance Development on Enterprises’ Investment and Financing Strategies

Yun Li — 2025-09-10

With the global advancement of the concept of sustainable development and environmental protection work, especially under the systematic deployment of green development in the report of the 20th National Congress of the Communist Party of China, the development of green finance in China has an increasingly significant impact on enterprise operation and management. Against the backdrop of the continuous deepening of green finance, it has multi-dimensional and profound impacts on enterprises’ investment and financing decisions, resource allocation, and development strategies. Based on this, this paper focuses on the level of enterprises’ investment and financing strategies, deeply analyzes the specific impacts of green finance development on enterprises, analyzes them in combination with practical problems, and then proposes corresponding optimization countermeasures, aiming to provide theoretical support and practical references for enhancing the core competitiveness of enterprises in the context of green finance.

Research on the Design of Ideological and Political Objective Matrix for Accounting English Course Based on OBE –– with Reference to the Competency Framework of Certified Public Accountants

Rui Huang — 2025-09-10

In recent years, the field of higher education in China has put forward clear requirements for the construction of ideological and political education in courses. Accounting English, as an important course for cultivating international accounting talents, urgently needs to integrate professional ethics and national consciousness into professional teaching ^[1]. In response to the lack of a professional reference system for ideological and political education in accounting English courses, this paper, guided by the OBE educational concept, constructs a three-dimensional objective matrix model based on the international Certified Public Accountant (CPA) competency framework. By deconstructing the IFAC professional competence standards, a mapping mechanism of “professional competence-language carrier-ideological and political content” is proposed.

Research on Optimizing the Index System of Value Assessment of Transportation Infrastructure Assets

Jie-ming Xia — 2025-09-10

This paper focuses on the optimization of the evaluation index system for the value of transportation infrastructure assets. It analyzes the shortcomings of the current system and explores the directions for optimizing the index system from the perspectives of functionality, economy, social impact, environmental impact, and sustainability. The paper also discusses the application of the optimized index system in practical evaluation and the measures to ensure its effectiveness. The research aims to enhance the evaluation mechanism for the value of transportation infrastructure assets, providing a more scientific basis for decision-making, addressing challenges in asset management, improving the level of asset management in transportation infrastructure, and meeting the demands of high-quality development in the transportation sector in the new era.

Research on the Optimization of the Marketing Strategy for the Danxia Mountain Scenic Spot in Guangdong Province

Yibing Lu — 2025-09-10

Danxia Mountain scenic area is a famous world natural heritage site and national 5A tourist attraction in China. It is renowned for its unique Danxia landform and rich biodiversity, and it has high ecological, scientific research, and tourism value. In recent years, the upgrading of consumption, the promotion of personalized and in-depth tourism, and the wide application of digital technology in culture and tourism have presented many challenges to the current marketing strategy of scenic spots. Based on the 7P marketing mix theory, this paper systematically analyzes the marketing strategy of the Danxia Mountain scenic area in seven dimensions: product, price, channel, promotion, personnel, tangible display, and service process. The analysis reveals several issues, including a limited product selection and a significant tendency toward homogenization. There is insufficient diversity in online and offline marketing channels, a lack of emotional resonance and international vision in promotional content, an imperfect professional talent echelon, traditional and interactive tangible displays, and an unbalanced service process system. These issues make it difficult to fully meet the needs of different customer groups. Based on this analysis, and considering the characteristics of the scenic spot’s resources and the tourism market’s trends, the paper offers targeted optimization suggestions. These include innovating experience projects, expanding marketing channels, strengthening talent cultivation, enriching tangible displays, and improving the service system. The aim is to enhance the market competitiveness and tourist satisfaction of scenic spots, promote the integration of culture and tourism while protecting natural heritage, and provide a reference for optimizing the marketing strategies of similar natural heritage sites.

Challenges and Optimization Pathways of Moutai’s Digital Supply Chain Finance Model

Yixin Shuang — 2025-09-08

In the era of the digital economy, traditional supply chain finance models face challenges such as information fragmentation, inefficient processes, and insufficient credit transmission, necessitating digital transformation. This study focuses on Kweichow Moutai Group, systematically analyzing its innovative practices in supply chain finance and examining the mechanisms through which digital technologies enhance core enterprise credit empowerment, improve supply chain collaboration efficiency, and optimize risk management. The research reveals that Moutai Group has transformed supply chain finance from unilateral credit granting to ecosystem-based credit sharing by establishing an IoT-enabled asset verification platform, developing smart contract-driven bill financing systems, and building a blockchain-based multi-party credit alliance. This model significantly lowers financing barriers for small and medium-sized suppliers while creating new value chain growth points through data assetization strategies. Finally, the study proposes further improvements from the perspectives of technical standardization and adaptive regulatory frameworks.

Analysis on the Cultivation of Digital and Intelligent Professionals in University Economics

Haoran Sun — 2025-09-10

With the rapid development of the digital economy, technologies such as big data, blockchain, and artificial intelligence are reshaping the economic development model, and data has become a means of production for economic and social development. The application of digital and intelligent technologies in the field of economics can efficiently process complex statistical data and bring profound changes. At this stage, digitalization and intelligence have also become the core force driving changes in various fields, directly affecting the higher education system. The wave of digitalization and intelligence brings not only technological innovation but also changes in thinking patterns and industrial structures. Therefore, colleges and universities should thoroughly explore the teaching model of economics majors to cultivate talents that meet the needs of the industry and further promote economic development. Based on this, this paper analyzes and studies the cultivation of digital and intelligent professionals in economics in colleges and universities for reference.

Research on the Development Path and Policies of the Digital Economy in Agriculture

Kai Tong — 2025-09-10

Against the backdrop of digital transformation, the agricultural digital economy is showing promising development trends, yet it also faces numerous challenges that hinder its high-quality growth. To align with the requirements of agricultural digital transformation in the new era, it is necessary to accelerate the construction of digital infrastructure, create a favorable industrial environment, enhance the overall quality of the workforce, and implement a comprehensive approach to elevate the development level of the agricultural digital economy, thereby driving the high-quality development of modern agriculture. This article focuses on the development of the agricultural digital economy, summarizes relevant policies and practical pathways, and aims to provide references for related theories and practices.

Strategic Development Analysis of MINISO Based on the Business Model Canvas

Wanheng Wang — 2025-09-10

As a representative enterprise in the retail industry, MINISO takes cost leadership and product differentiation as its core strategy to compete actively in the global market. However, multi-brand retailers continue to appear in the domestic market and the existing “dollar stores” in the foreign market already have a certain number of loyal customers. Therefore, MINISO needs to understand its principles for creating, delivering, and capturing value. By strengthening its own competitive advantages, it could achieve differentiation when confronting challenges in both domestic and international markets. Based on the analysis of MINISO’s business model canvas, this paper puts forward corresponding strategic development suggestions.

The Impact of the Internationalization of ESG Standards on the Trade Competitiveness of Multinational Enterprises: A Difference-in-Differences Test Based on Global Manufacturing Listed Companies

Yihan Wang — 2025-09-10

This paper takes global manufacturing listed companies from 2010 to 2022 as samples and uses the difference-in-differences (DID) method to empirically examine the impact of the internationalization of ESG standards on the trade competitiveness of multinational enterprises and their mechanisms. The research finds that the internationalization of ESG standards significantly enhances the trade competitiveness of multinational manufacturing enterprises, and this effect is dynamic and sustainable. The mechanism analysis indicates that the internationalization of ESG standards exerts its influence through three pathways: reducing enterprise financing costs, promoting technological innovation, and enhancing brand reputation. The heterogeneity analysis shows that this effect is more significant in enterprises from developed countries, high-pollution industries, and larger enterprises. This paper provides micro-level evidence for understanding the economic consequences of the internationalization of ESG standards and offers policy implications for multinational enterprises to cope with the global ESG rule changes and enhance their trade competitiveness.

Analysis of Influencing Factors of Platform Economy on the Allocation Efficiency of Labor Resources

Yifan Wang — 2025-09-10

Against the backdrop of the rapid development of digitalization today, the platform economy, as an emerging economic form, is profoundly changing the operation mode and resource allocation methods of the labor market. The efficiency of labor resource allocation is an important indicator to measure the vitality and potential of economic development in a country or region. It is not only related to the welfare level of workers but also directly affects the productivity level and development quality of the entire society. With the help of modern information technology means such as Internet technology, big data algorithms, and mobile communication devices, the platform economy closely connects originally scattered individual workers with employers, building a large and complex networked trading platform. Based on this, this paper focuses on the impact and role of the platform economy on the efficiency of labor resource allocation, aiming to stabilize the efficient operation of the labor market.

Exploring Strategic Collaboration Between Traditional Automakers and New Energy Vehicle Manufacturers Under the “Dual Credit” Policy

Zejun Chen — 2025-09-10

Under the impetus of the “Dual Credit” policy, traditional fuel vehicle manufacturers are confronted with significant pressure to meet new energy vehicle credit requirements. To address this challenge, these manufacturers are increasingly adopting the Original Design Manufacturer (ODM) strategy to collaborate with new energy vehicle enterprises, thereby acquiring credits and expanding their market presence. However, this strategic approach not only intensifies competition between new energy and traditional fuel vehicle markets but also reshapes the profit distribution between the two types of firms. Drawing upon the framework of the Dual Credit policy, this study establishes a Cournot game model to examine the strategic interactions between traditional fuel vehicle manufacturers and new energy vehicle producers. It further investigates the optimal production decisions under the ODM strategy and evaluates their implications for market dynamics and corporate profitability. The findings reveal that, although the ODM strategy heightens market competition, it leads to substantial profit improvements for both types of manufacturers compared to the alternative of directly purchasing credits, while also fostering the growth of the new energy vehicle sector. Moreover, the Case study demonstrates micro-level impact of the dual credit policy on enterprises’ response strategies, offering valuable insights for policymakers and industry decision-makers.

An Empirical Study on the Impact of China’s Virtual Economy on the Relationship between Money Supply and Inflation

Junsheng Liu — 2025-09-11

This study examines the mechanisms through which China’s virtual economy impacts the relationship between money supply and inflation. The study constructs a VAR model and conducts Granger causality tests using data collected from 2010 to 2025. The analysis comparatively investigates the differential effects of money supply changes on key virtual economy sectors, that specifically equity markets and real estate markets. This study reveals a bidirectional causal relationship between China’s stock market and M1 money supply, exerting a significant influence on monetary structure. The real estate market demonstrates a pronounced diverting effect on M2, which indirectly impacts the CPI. Virtual economy attenuates the positive correlation between money supply and inflation established by the Fisher Effect, forming a complex mechanism characterized by asymmetric responses under specific conditions.

Research on the Impact of Artificial Intelligence (AI) on Corporate Finance and Financial Professionals

Jiaqi Wang — 2025-09-11

The development of artificial intelligence has brought tremendous changes to enterprises and also pose higher demands on financial professionals. Through literature research, this paper explores the viewpoints of domestic and foreign scholars and industry experts on the impact of Artificial Intelligence (AI) on corporate financial management and the role transformation of financial professionals. It analyzes the current application status of AI technology in finance. The results indicate that AI will replace some repetitive and highly procedural tasks, such as simple data entry and bookkeeping. AI can improve the processing speed and accuracy of corporate financial data. With its learning capabilities, AI can assist financial professionals in addressing knowledge gaps. However, AI cannot completely replace human thinking, judgment, and decision-making, especially in areas like emotional communication and aesthetic experience. This requires financial professionals to continuously improve their overall qualities, leverage their strengths, and achieve complementary advantages with machines, jointly promoting innovative financial development in the era of artificial intelligence.

Research on the Responsibility Traceability Mechanism Based on AI and the Application Boundary of Algorithmic Ethics in Medical Decision Making

Baochen Huang — 2025-09-11

With the rapid advancement of medical artificial intelligence (AI) technology, particularly the widespread adoption of AI diagnostic systems, ethical challenges in medical decision-making have garnered increasing attention. This paper analyzes the limitations of algorithmic ethics in medical decision-making and explores accountability mechanisms, aiming to provide theoretical support for ethically informed medical practices. The study highlights how the opacity of AI algorithms complicates the definition of decision-making responsibility, undermines doctor-patient trust, and affects informed consent. By thoroughly investigating issues such as the algorithmic “black box” problem and data privacy protection, we develop accountability assessment models to address ethical concerns related to medical resource allocation. Furthermore, this research examines the effective implementation of AI diagnostic systems through case studies of both successful and unsuccessful applications, extracting lessons on accountability mechanisms and response strategies. Finally, we emphasize that establishing a transparent accountability framework is crucial for enhancing the ethical standards of medical AI systems and protecting patients’ rights and interests.

Research on the Model and Pathways for Border Tourism Development and Poverty Alleviation in Ethnic Regions — A Case Study of the Northwest Yunnan Region

Baige Jiang — 2025-09-10

Against the backdrop of globalization and regional economic integration, border tourism, as a unique form of tourism, is increasingly emerging as a significant driving force for promoting economic development in border regions, fostering cultural exchange, and strengthening international cooperation. The northwestern Yunnan region, located in China’s Southwestern frontier, is a key area bordering Southeast and South Asian countries, endowed with abundant border tourism resources. This article delves into the border tourism models and pathways for border development and prosperity in ethnic regions, using a case study of the Northwest Yunnan region to analyze the mechanisms and influencing factors of border tourism in promoting local economic development, social progress, and cultural heritage. This provides empirical evidence for further understanding the development patterns of border tourism and also contributes to strengthening ethnic unity and maintaining harmony and stability in border regions. This study addresses the current research gap in exploring the development models and pathways of border tourism in specific regions, offering valuable references and insights for future related research.

Application of Multiple Correlations Analysis in Portfolio Selection

Ruili Sun — 2025-09-10

Portfolio selection based on the global minimum variance (GMV) model remains a significant focus in financial research. The covariance matrix, central to the GMV model, determines portfolio weights, and its accurate estimation is key to effective strategies. Based on the decomposition form of the covariance matrix. This paper introduces semi-variance for improved financial asymmetric risk measurement; addresses asymmetry in financial asset correlations using distance, asymmetric, and Chatterjee correlations to refine covariance matrices; and proposes three new covariance matrix models to enhance risk assessment and portfolio selection strategies. Testing with data from 30 stocks across various sectors of the Chinese market confirms the strong performance of the proposed strategies.

Construction and Empirical Research on the Value Dimension of Tourists’ Experience in Urban Heritage Parks

Yuling Weng — 2025-09-08

With the simultaneous growth of cultural heritage activation and urban renewal needs, urban heritage parks are increasingly becoming important carriers for the integrated development of historical heritage protection and public space utilization. This article focuses on the construction of measurement dimensions of tourist experience value in urban heritage parks. Based on the theoretical frameworks of flow theory and experience value theory, combined with literature analysis and UGC text mining, it initially constructs an emotional, cultural, and functional three-dimensional index system. Through text analysis of 970 online reviews of Chongqing Kaifa Heritage Park, social value is identified as a potential new dimension. Subsequently, this article adopts exploratory and confirmatory factor analysis methods to verify the structural validity and reliability of the evaluation model with four dimensions and eighteen indicators, confirming that tourist experience value consists of four dimensions: emotional, cultural, functional, and social. The research not only fills the empirical research gap on social interaction value in cultural heritage tourism spaces, but also provides a quantifiable evaluation tool and evidence-based basis for the operation, management, and experience optimization of heritage parks, which has certain theoretical innovation significance and practical guidance value.

Research on the Impact of the Digital Economy on Enterprises’ ESG Performance

Yun Li — 2025-09-10

The digital economy has significant positive externalities in promoting the sustainable development of enterprises, providing an important opportunity for enterprises to improve their ESG performance. Through analysis, it is found that the digital economy has a huge impact on enterprise performance, mainly through three mechanisms: promoting environmental performance, strengthening social responsibility, and optimizing the governance structure. The research results of this paper help to expand the understanding of the dividend effect of the digital economy and deepen the theoretical understanding of the sustainable development of enterprises in the context of the digital economy.

Opportunities, Challenges, and Strategies of China’s Sporting Goods Export under the Background of RCEP‌

Qixuan Yang — 2025-09-10

China has long been recognized as a major producer and exporter of sporting goods, with its share of global sporting goods exports continuing to rise steadily. The implementation of the RCEP agreement presents both opportunities and challenges for China's sporting goods export trade. To achieve sustained growth, enterprises must enhance their innovation capacity, improve product quality, strengthen brand influence, and refine marketing strategies. At the same time, they must proactively manage risks related to exchange rate fluctuations and rising international logistics costs.

Database of Clause Depth of China’s Regional Trade Agreement and Its Characteristics

Jin Sun — 2025-09-10

This paper analyzes the text of 3261 clauses of 20 RTAs signed by China, classifies them into 52 policy areas according to the international mainstream HMS method, and assigns them through coding. The clause depth of China’s RTAs is measured across three-dimensional systems (policy areas, clauses, and core clauses) and two generations of trade policy areas (WTO+, WTO-X, and all policy areas). It is observed that China’s RTAs exhibit greater depth in Industrial Products, Agricultural Products, TBT, Antidumping, Countervailing, and Investment, while showing comparatively less depth in Fiscal Policy, Innovation Policies, and related areas.

An Empirical Study on the Impact of Bank Credit on Real Estate Price Fluctuations in China—A Case Study of 35 Large and Medium-sized Cities

Xuenian Zhao — 2025-09-10

Fluctuations in real estate prices are closely linked to the macro-economy, exerting a profound influence on social investment and consumption levels. As a key source of funding for the real estate market, bank credit significantly affects housing price changes in major Chinese cities. This paper explores the transmission mechanisms and pathways of bank credit on real estate prices through theoretical analysis and empirical research. It constructs a panel regression model to empirically analyze the relationship between bank credit scale and housing prices in 35 large and medium-sized Chinese cities from 2012 to 2022, assess the impact of credit on housing price fluctuations, and compare differences between first-tier and second-tier cities. Based on these findings, the paper proposes suggestions for regulating housing prices by controlling credit scale, aiming to deepen the understanding of the relationship between bank credit and housing prices and support the stable development of China’s macro-economy and real estate market.

Analysis of Risk Control Strategy of Enterprise Self-Funded Investment Management

Lei Zhang — 2025-09-11

With intensifying market competition and growing financial complexity, strengthening risk control in corporate capital investment management has become imperative. This paper examines the critical role of risk management in ensuring financial stability, optimizing resource allocation, and achieving strategic objectives. It identifies key risk categories including market volatility, liquidity challenges, operational risks, and strategic misalignment, while proposing targeted strategies such as dynamic monitoring, strategic planning, decision-making optimization, and focused risk management.

Quantitative Research on Environmental Risk Factors in Green Bond Pricing

Ruiwen Wang — 2025-09-08

Amid the global shift toward climate governance and low-carbon transformation, accurately quantifying environmental risk factors within green bond pricing mechanisms has emerged as a critical issue. Drawing on data from China’s green bond market between 2018 and 2023, this study develops a multifactor pricing model that integrates environmental risk premiums. Through regression analysis, it empirically investigates the effects of environmental reputation, transparency of information disclosure, and third-party certification on bond risk premiums. The results indicate that green-labeled bonds carry, on average, a 42.6 basis point lower risk premium compared to non-green bonds, while third-party certification further reduces this premium by an additional 54.1 basis points. Moreover, a one standard deviation improvement in the quality of environmental information disclosure leads to a reduction in bond financing costs by approximately 18 to 25 basis points. Issuers operating in high-energy-consuming industries bear significantly higher environmental risk premiums relative to those in low-energy-consuming sectors. By integrating an ESG scoring framework into bond pricing, this study reveals the transmission channels of environmental risks into market pricing and provides a theoretical foundation for enhancing pricing benchmarks in the green bond market.

Research on the Impact Mechanism of Green Finance on the Optimization and Upgrading of Regional Industrial Structure

Zhiwei Pan — 2025-09-11

Under the background of this era, green finance and the upgrading and optimization of industrial structure have become a hot research topic. The article focuses on Jiangsu Province, carefully explores the impact of green financial development on the upgrading and optimization of industrial structure and the real effect, collates and summarizes the theories of green finance and industrial structure at home and abroad, and carefully analyzes the development of green finance in Jiangsu Province, such as the gradual expansion of green credit scale, the characteristics of industrial structure, the change of the proportion of three industries, the development situation of emerging industries and so on. By means of econometrics, an empirical model covering Green Financial Development Indicators and industrial structure optimization indicators is established to do multiple linear regression analysis and stability test. The empirical results show that the development of green finance in Jiangsu plays an obvious positive role in the optimization and upgrading of industrial structure. Green finance is environmental protection, new energy and other green industries are given important financial support, which drives their scale expansion and technological innovation, and makes the industrial structure develop towards a higher level and a more reasonable direction. From this point of view, corresponding proposals are put forward to improve the policy incentive system, add green financial products, and strengthen the construction of green financial market. The purpose is to give better play to the advantages of green finance, accelerate the optimization and upgrading of industrial structure in Jiangsu, and provide theoretical basis and practical guidance for achieving green economic transformation and sustainable development.

Comparative Analysis of Mineral Rights Licensing Systems in Tanzania and Uganda

Mudan Huang — 2025-09-11

In order to promote the development of the mineral industry in their countries, Tanzania and Uganda have revised their mining acts in recent years, and the reform of the mineral rights licensing system is one of the key points. This paper is intended to make a comparative analysis of the two countries’ mineral rights licensing systems in terms of the main body of approval, approval time, approval information, approval conditions and application fees. Through comparison, it can be seen that the two countries focus on the role of the government in the mining rights licensing, jurisdiction is more centralized, access system is fairer, the review is more stringent, and the provisions are clearer and more concise. On the whole, Tanzania’s mineral rights licensing system is more detailed and standardized than Uganda’s, and is more operational in practice. In addition to exploring the advantages of the two countries’ mining rights licensing system, this paper also summarizes and analyzes the shortcomings of the two countries’ mining rights licensing system, how to verify the review of information in the two countries’ mining rights licensing system, how to effectively supervise the activities after licensing, and how to continue to deepen the reform of the two countries’ ministries of mines and minerals, which are responsible for the important task of strengthening the administrative capacity and improving the efficiency of the administration, is still an important issue that deserves continuous and in-depth study for the two countries. For both countries, this is still a topic that deserves continuous and in-depth research. Through the comparative analysis of the Tanzanian and Ugandan mineral rights licensing systems, this paper clearly demonstrates the similarities and differences between the two systems as well as their advantages and disadvantages, which can provide decision-making references for relevant mining investments and help investors more comprehensively assess the legal environment, policy risks and operating costs of mining development in the two countries, so as to optimize their investment strategies and reduce compliance risks.

Technology in the Cultivation of Composite Talents in the Context of the Free Trade Port

Yun Li — 2025-09-09

As an important strategic fulcrum for China’s new round of opening-up, the Hainan Free Trade Port provides broad space for achieving high-quality development with its unique policy advantages and financial resources. In this context, integrating blockchain technology into the construction of the free trade port can not only help enhance the innovation and competitiveness of the talent cultivation system but also promote the coordinated development of the real economy and the industrial system. Based on the core characteristics of blockchain technology, such as “decentralization, traceability, and high credibility”, this paper focuses on the common problems in the cultivation of composite talents in current vocational colleges, including an imperfect school-enterprise cooperation guarantee mechanism, a lack of teaching resources, weak teaching staff, and insufficient practical conditions. It proposes a new idea of introducing blockchain technology into the vocational education system. Through the research on the cultivation model of composite-skilled talents in vocational colleges in the context of “blockchain +”, this paper aims to promote the in-depth integration of vocational education in vertical and horizontal aspects, and further promote the systematic, standardized, and high-quality development of composite talent cultivation.

Institutional Logics and Its Application in Entrepreneurship Research

Mengxuan Qin — 2025-09-10

Institutional logic theory, a pivotal framework within organizational studies, delineates the multifaceted and intricate logics that underpin organizational fields. This theoretical perspective elucidates the manner in which diverse individuals or groups within an organization internalize and manifest distinct institutional logics, alongside the ensuing political and cultural conflicts. Furthermore, the theory endeavors to elucidate the complexities inherent in institutional logic across organizational fields, examining the reflection of these logics among various individuals or groups and their associated political and cultural dichotomies. Central to this discourse is the acknowledgment of the core systems that constitute the fabric of a country, encompassing the state, market, familial structures, corporate entities, professional bodies, and religious institutions. These components not only coexist with inherent conflicts but also exhibit a high degree of interdependence, underlined by their shared institutional logics. This literature attempts to review and analysis institutional logic in the field of entrepreneurship and integrates institutional logic into entrepreneurs’ personal background, experience, and other social characteristics, and study how institutional logic operates. It is recommended that future researchers take entrepreneurs as the research object and conduct more in-depth research on the evolution of organizational response strategies when political and cultural conflicts occur between different groups within the enterprise, combined with institutional logic theory.

Research on Digital Inclusive Finance Empowering the Development of Liaoning’s Marine Economy

Xingye Chen — 2025-09-10

This article focuses on how digital inclusive finance empowers the development of Liaoning’s marine economy. The research shows that while digital inclusive finance in Liaoning Province has grown rapidly in recent years, it still faces shortcomings in usage depth and coverage breadth. At present, digital inclusive finance has a significant empowering effect on Liaoning’s marine economy, but challenges remain, including insufficient coverage and limited application of infrastructure, imperfect data governance and risk control systems for the marine economy, and a mismatch between digital financial products and the needs of the marine industry. To address these issues, the article proposes optimized pathways for digital inclusive finance to support Liaoning’s marine economy: improving digital financial infrastructure to enhance service accessibility and efficiency; strengthening marine economic data governance to build an intelligent risk control system; innovating digital financial products to better align with industrial demands.

The Origin, Measurement, and Influencing Factors of Enterprise Resilience

Yu Shen — 2025-09-09

In the dual context of VUCA era and digital transformation, enterprise resilience, as the core ability of organizations to resist shocks, adapt to changes, and achieve sustainable development, has increasingly highlighted its theoretical connotation and practical value. This article systematically explores the interdisciplinary theoretical origins, multidimensional dynamic measurement methods, and complex influencing factors of enterprise resilience. Research has shown that: (1) the concept of resilience originates from ecology, engineering, and physics, and extends to the field of complex adaptive systems, forming a micro capability integration framework of “pre-crisis prevention crisis response crisis recovery”, as well as macro strategic attributes that support high-quality development of the national economy; (2) Resilience measurement needs to integrate subjective and objective dynamic indicators: at the subjective level, Likert scale is used to evaluate organizational capability traits, and at the objective level, financial performance fluctuations, market performance, and crisis learning behavior are combined; (3) Resilience is driven by the synergy of multiple levels of factors: internal dependence on organizational capability foundation, digital empowerment, external resource linkage, policy environment, and sustainable governance. Its interaction mechanism accelerates capability updates through digital iteration, policy activates resource networks, and ultimately constructs an organizational resilience system of “survival adaptation evolution”. This article provides a unified analytical framework for the study of enterprise resilience, and provides theoretical guidance and practical paths for organizations in the digital age to cultivate risk resistance capabilities and achieve resilience evolution.

Configurations for Xiamen-Zhangzhou-Quanzhou Regional Economic Integration--Based on Fuzzy Set Qualitative Comparative Analysis

Fan Zhang — 2025-09-08

Achieving mutual benefits in the process of city cluster integration is the core of sustainable regional economic development. This means the core city is driving and avoids the siphon effect. Therefore, it is crucial to analyse which factors affect the differences in integration outcomes. In this paper, for the 28 districts and counties of Xiamen-Zhangzhou-Quanzhou City Cluster, we use FsQCA to analyse the configuration of the impacts of five conditions, namely, urbanization, infrastructure development, level of public services, degree of government intervention, and industrial structure, on the intensity of the districts and counties’ economic linkages. This paper obtains four group conditions of high economic linkage intensity and seven paths leading to low economic linkage intensity. And in this regard, it puts forward suggestions such as constructing a mechanism for coordinated development of regional industries and accelerating the convenient sharing of public services.

The Role of Village Regulations in Litigation Source Governance: A Legal and Empirical Analysis Based on Tianjin’s 2023 Model Village Regulations

Siying Huo — 2025-09-11

This study examines the role of village regulations within China’s Litigation Source Governance (LSG) framework, specifically analyzing Tianjin Municipality’s 2023 Model Village Regulations. Employing legal analysis and Natural Language Processing (NLP) techniques, the research evaluates the effectiveness, enforceability, and thematic orientation of these regulations in grassroots dispute resolution. Findings reveal a pronounced reliance on moral governance provisions, limited judicial recognition, and significant implementation challenges due to the predominance of non-binding (soft) clauses. The study recommends enhancing judicial recognition through formal confirmation mechanisms, increasing legally binding clauses, and integrating village-level governance more closely with formal judicial processes. This approach not only strengthens local governance but also provides valuable insights for nationwide replication, supporting broader goals of rural stability and governance modernization.

A Research Review of International Carbon Tax and the Comparative Analysis of International Carbon Tax Schemes

Yuxue Li — 2025-09-11

International carbon tax issues such as carbon leakage and carbon neutralization have become major topics of social concern. Based on the practical experience of carbon tax system in individual countries, this paper integrates the existing research of international carbon tax scholars to the classification and comparative analysis of international carbon tax schemes. Using a literature review approach, this dissertation mainly applies the method of qualitative analysis to explain and compare the contents of four international carbon tax options. Through the analysis and evaluation of individual countries’ carbon tax practice, the two-country model is verified. Through the method of comparative analysis, the schemes are evaluated from four dimensions and an assessment is made. The difference of carbon tax among countries makes the internal policies of countries adjust accordingly with the changes of international environment, which promotes the gradual convergence of carbon tax schemes. The results intend to provide reference to further study the issue on international carbon tax.

The Impact of Cash Dividend Ratio on Stock Pricing: An Empirical Study of A-share Companies with High Dividend Payout

Jiazhong Feng — 2025-09-11

This study selected 45 A-share listed companies that have paid dividends for five consecutive years from 2019 to 2024, with an average dividend yield of at least 3%, as the sample. Using a panel data model, the effect of the cash dividend ratio on stock pricing was analyzed. The empirical results indicated a significant positive relationship between the cash dividend ratio and stock price. Furthermore, stocks with high dividend payouts demonstrated greater resilience during macroeconomic downturns, while notable differences were observed across industries. These findings provide a theoretical foundation for investors in making informed decisions and offer practical guidance for listed companies in formulating effective dividend policies.

Enhancing the Regulatory Framework for Financial Data Sharing Between Banks and Enterprises

Haoran Yang — 2025-09-10

In the process of implementing data openness between banks and fin-tech companies, as the breadth and depth of cooperation between banks and enterprises continue to increase, there is a risk of “too much correlation to fail” and “too many links to fail”. There are problems with the implementation of financial data openness by regulatory agencies for banks and fin-tech enterprises, such as the ambiguity of regulatory responsibilities, the emphasis on financial regulatory goals, and the lag in regulatory methods. To address these issues, it is necessary to clarify the responsibilities of financial regulatory agencies, establish a collaborative mechanism for financial regulation, coordinate the types of risks in bank enterprise cooperation, achieve the technical implementation of financial regulatory measures and the design of regulatory systems, obtain regulatory data in real time, establish a hierarchical regulatory system for bank enterprise cooperation to improve the regulatory path, and ensure the rational and legal use of financial data in bank enterprise cooperation.

Economic and Cultural Revitalization in the Construction of New Rural Areas in Jiangsu Province

Rui Zhang — 2025-09-10

Jiangsu, a Chinese province that actively pursues both economic progress and rural cultural protection within China’s new Rural Revitalization Strategy, is both a testbed of social engineering regarding the establishment of modernization and the fusion of economic development and cultural heritage preservation. This work seeks to theoretically examine the dynamics of rural Chinese social, economic, and cultural structures from both macro and micro levels with a micro-level case study, to better understand what is the economic productivity and cultural revival in contemporary China, and more importantly, why they may not have optimal potential. Data came from 3-week trips to Huishan Ancient Town, Hongcun village in Huizhou, Changxing county in Anhui, and Zhouzhuang village in Suzhou, as well as from 18+ primary and secondary literature surveys and country-level data such as annual China’s No.1 Central Document policies. Structural problems (lack of policy enforcement or implementation regarding cultural protection, improper waste and pollution, loose control of building) and well-functioning models of collaboration (relying upon cultures as engines to drive the local economy) of rural areas in China’s urban economy are highlighted here for proper understanding and examination of data sets. Case analysis through quantitative interpretations of policy measures, cross-sectoral model collaborations, and sustainability factors’ impacts are applied in an integrated form to a novel structure of rural governance (bottom-up community innovation, technology-enhanced data capital, monetary reform regarding cultural heritage, adaptive policy design for optimal human well-being) that pushes for rural development in China’s contemporary background.

Exploring Optimization Strategies for Island Power Grid Line Layout Oriented Towards Large-Scale Distributed Renewable Energy Integration

Zhenhuan Song — 2025-09-10

The construction of island power grids is a systematic engineering task. To ensure the safe operation of power grid systems, optimizing the line layout of island power grids is crucial. Especially in the current context of large-scale distributed renewable energy integration into the power grid, conventional island power grid line layouts can no longer meet actual demands. It is necessary to combine the operational characteristics of island power systems and historical load data to perform load forecasting, thereby generating power grid line layout paths. This article focuses on large-scale distributed renewable energy integration, summarizing optimization strategies for island power grid line layouts, and providing a solid guarantee for the safe and stable operation of island power systems.

Research on the Impact of the Independent Director System on the Independence of the Board of Directors

Yanhua Ge — 2025-09-12

In the context of China’s rapidly evolving capital market, the proliferation of listed companies has been a salient phenomenon. The quality of corporate governance has emerged as a pivotal factor in determining the success or failure of these entities. Research by Balsmeier et al. (2022) indicates that the greater the independence of a listed company’s board of directors, the higher its innovation output (both in terms of quantity and quality of patents)^[1]. This finding suggests a strong correlation between the performance of a company and the independence of its board. The present study has selected listed companies on the A-share market of the Shanghai Stock Exchange in 2013 as the subjects of its research. A sample of 960 companies was initially obtained from the CSMAR database. Following a rigorous financial data screening, a final sample of 944 valid companies was retained for further analysis.