Volume 10
Published on October 2024Behavioural biases influence investor sentiment and behaviour, which in turn influence stock returns, stock price volatility and corporate governance structures. This paper focuses on the role of three common behavioural biases (overconfidence, herding and loss aversion) on investor behaviour, and how these biases drive inefficiencies in financial markets. Using worldwide market data from 1970 to 2019 and focusing on key events such as the 2008 financial crisis and the dot-com bubble, we investigate how these behavioural biases cause market volatility. This analysis further reinforces the importance of strong corporate governance structures such as independent boards, executive pay structures and risk management protocols that help reduce the impact of investor sentiment. The role of speculative bubbles, market overreaction and volatility clustering is also examined further, and corporate governance mechanisms are proposed to help mitigate the effects of behavioural biases on stock prices. The findings demonstrate the importance of adopting long-term corporate goals, transparency and strategies to help better manage market sentiment and safeguard shareholder value.
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Currently, the Chinese economy is encountering a period of stagnation in its development. Sustaining the rapid growth rate of the economy has become a challenge, as there is a lack of adequate momentum for continuous high-speed advancement. The nation is edging closer to the middle-income trap, and the conventional approach of relying on investment, exports, and consumption to propel economic growth is proving to be unattainable. It must be achieved through the transformation of economic structure, and the transformation of the financial industry is the most important part of it. The research question of this article is how commercial banks affect economic growth and how China's banking system has developed. The WTO's entrance into China has been a major catalyst for the banking industry and its system to be built. The literature review section delved deeply into economic growth, examining the concept of it, how it is achieved in China, as well as any factors that may influence it. More importantly, the study reviewed what the banking industry is and the development stages of China's banking industry. The banking industry's development was examined in the concluding part of the literature review, examining pertinent studies on the effect of economic expansion. In the discussion section of the research, we analyzed how the banking industry affects economic growth through its impact on capital allocation, banking services, and currency. Ultimately, we drew corresponding conclusions and proposed countermeasures and suggestions for the future development of the banking industry. Due to the fact that the industrial structure of developing countries is usually dominated by labor-intensive industries, clarifying the interrelationship between China's banking structure, capital allocation efficiency, and economic growth has universal significance and reference value for relevant financial arrangements in developing countries.
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This study uses the fuzzy set qualitative comparative analysis (fsQCA) method with 30 administrative divisions in China as the case, and carries out research and analysis based on the TOE framework to explore the role paths of five factors, namely, the development of digital finance, the level of green innovation, the construction of the talent system, the government's support capacity, and the social financing environment, on the green total factor productivity, the goal is to identify a range of options to push the economy in the direction of green development. The study found that: a single prerequisite is not necessarily a prerequisite for high green total factor productivity; the five factors that drive green total factor productivity include: “technology-financial-driven”, “technology-talent-driven”, “technology-resource-driven”, “technology-environment-driven” and “technology-government-driven”; the development of digital finance at the technology level and the level of green innovation plays a very important role. Hence, when it comes to governance, varying strategies should be implemented in different areas to encourage the advancement of environmentally friendly economic growth.
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In today's world, facing various global challenges such as climate change, poverty, inequality, and environmental degradation, the United Nations proposed a global action plan in 2015 - the Sustainable Development Goals, with SDG1 aiming to eradicate all forms of poverty. The rapid pace of global urbanization in the 21st century is bringing new challenges. Among them, poverty is a major issue with serious implications for sustainable urban development. In China, poverty has always been a focal point of government and societal attention. By the end of 2020, absolute poverty in rural areas of China had been effectively eliminated, but urban poverty has increasingly become prominent, affecting the sustainable development of Chinese cities. The purpose of this research is to collect information from literature, identify research hotspots and trends in urban poverty alleviation in China, and analyze the challenges faced by sustainable development in Chinese cities and how to address these issues. This study analyzes the research hotspots and trends in urban poverty alleviation in China through the use of CiteSpace software and bibliometrics in order to promote sustainable urban development in China.
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This paper focuses on the impact of the real estate industry on China's economic growth. We discovered, through an examination of certain specialist literature and statistical data analysis, that the real estate sector has been a major factor in China's economic expansion. Particularly, real estate investment is a considerable portion of fixed asset investments and makes a noteworthy contribution to economic growth. However, every coin has two sides. The rapid development of real estate also comes with some problems, such as the risk of real estate bubble and high leverage. Therefore, in order to make the real estate better promote the development of the national economy, the government has decided to guide the orderly and stable development of the real estate industry through policy regulation. In this article, by reviewing the previous literature and analyzing some relevant data about real estate, I will explore the impact of real estate industry on China's economic growth. The research finds that the development of the real estate industry is good for economic growth, but at the same time, policymakers should also pay attention to controlling the development speed of the real estate, such as: real-time monitoring of the market and formulating relevant policies to avoid problems.
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This paper selects listed companies from the Shanghai and Shenzhen A-share markets between 2009 and 2020 as the sample to empirically analyze the impact of corporate performance in ESG (Environmental, Social, and Governance) on the level of their earnings management activities. The study finds that the better the ESG performance, the lower the company's tendency to engage in real earnings management, significantly reducing the level of real earnings management. In contrast, the improvement in ESG performance increases accrual-based earnings management. Further analysis reveals that for non-state-owned enterprises, the restraining effect of ESG performance is more pronounced. All three dimensions—environment, social, and governance—can significantly increase corporate accrual-based earnings management. Compared to environmental responsibility, social responsibility and corporate governance are more effective in significantly reducing real earnings management.
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This thesis endeavors to conduct a comprehensive analysis of the correlation between employee satisfaction, employee performance, customer satisfaction, and firm profitability. In a contemporary business landscape where employee satisfaction is increasingly acknowledged as a pivotal determinant of organizational success, this study aims to elucidate the intricate dynamics governing this relationship. By meticulously scrutinizing existing research and empirical evidence, this research aims to shed light on how employee satisfaction influences employee performance, subsequently impacting customer satisfaction, and ultimately, firm profitability. In the swiftly evolving modern business milieu, grasping the profound implications of employee satisfaction has become an imperative for achieving sustainable growth. This investigation narrows its focus to dissect the intricate web of interactions that either propel or hinder an organization's journey towards profitability. Through a meticulous analysis of empirical data and scholarly discourse, this study underscores the pivotal role of employee satisfaction in shaping workforce influencing customer perceptions, and, consequently, augmenting a company's financial well-being. As we navigate this exploration, it becomes increasingly evident that employee satisfaction constitutes a cornerstone of organizational prosperity.
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Blind boxes, as an emerging industry, have gradually opened the Chinese market in recent years, and are sought after by consumers and various industries. It is a unique box that contains toys or other commodities, and people don't know what's inside until they open it. Meanwhile, continuous innovation has created a unique blind box marketing strategy, which uses consumers’ different motivations effectively to promote purchasing behavior. Based on the theory of consumer behavior and the strategy of ‘blind box marketing +4p marketing theory’ (combined with AISAS model), this paper takes ‘psychological motivation’, ‘demand motivation’ and ‘investment motivation’ as intermediary paths to explore the impact on consumer purchasing behavior. Through the analysis of literature, questionnaire and tools such as SPSS25.0, the conclusions of relevant research are drawn: the effective combination of blind box marketing and product strategy can have a significant positive impact on consumers' purchasing behavior. The tremendous positive impact of price strategy on consumers' purchasing behavior is based on the consideration of different age groups. Place strategy and promotion strategy can only serve as the intermediary path between consumers' purchasing behavior, but cannot have a significant positive impact on them. Finally, through the above research, some suggestions for blind box marketing are provided.
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The digital economy, as an integrated economy, has become the driving force behind economic growth in various regions, fueling economic transformation and upgrading and serving as the focal point of industrial competition. Shenzhen, as a major first-tier city and a pilot demonstration area for socialism with Chinese characteristics, is taken as an example in this study. By exploring the mechanisms through which the digital economy impacts the upgrading of regional industrial structures, this paper analyzes how the digital economy promotes regional industrial transformation and upgrading through technological innovation, industrial integration, and market competition. It also discusses the existing problems and challenges, and proposes corresponding policy recommendations in areas such as talent cultivation, improving social welfare, and supporting enterprises to better leverage the role of the digital economy in upgrading the regional industrial structure. These efforts aim to ensure the sustainable development of Shenzhen’s economy, making the “new engine” more powerful in leading development, creating jobs, supporting international competition, and driving Shenzhen’s economic and social progress toward high quality.
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