Volume 3

Our paper examines the impact of the bid for Beijing Winter Olympic Games on social economy and society with data from 2010 to 2020.In this project, regression discontinuity design (RDD) is applied to analyze the changes of GDP, residential income per capital and CPI's response to the five independent variables related to the successful bid for Winter Olympics: time dummy, infrastructure investment, cultural and athletic expenditures, international travel income and the number of sports venues. Our results show that the effects of bid for Winter Olympics on GDP and residential income per capita are insignificant, while the effects of bid on CPI are significantly positive. The influential path from bid to CPI is through the three variables above: cultural and athletic expenditures, international travel income and the number of sports venues.

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The aging of China's population has become a significant social problem. The resulting longevity risk is a new and growing challenge for households, businesses and governments. This paper discusses the influence of longevity risk on different subjects and management methods by combining theoretical analysis and data analysis. From the perspective of households, based on the life cycle hypothesis, this paper demonstrates that the increase in life expectancy will reduce the total utility by reducing the average consumption level of individuals (families). For the general enterprises and the insurance industry, longevity risk means the rapid accumulation of future operating costs and may even bring liquidity risk. As for the government, they are the manager of the social pension fund, which is faced with the problem of balancing the income and payments under the background of the significant increase in the average life expectancy of the population. As a link, the financial market can transfer and disperse longevity risk among different subjects. However, there is a shortage of investors and issuers in the Chinese financial market. The rate of Chinese households participating financial market is low, and the progress of Longevity risk securitization in financial sectors is slow. Therefore, in managing longevity risk, China should focus on increasing the utilization of capital markets.

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This paper aims to discuss the fundamental element in finance, which is the property of the portfolio theory. Also, the paper presents an overview of the evolution of the portfolio theory management and capital asset pricing model (CAPM). Harry Markowitz, James Tobin, and William Sharpe, et al play an indispensable role in the contribution of these financial theories. This paper first studies and then describes the expected return and risk of the single asset portfolio. Then, this paper extends the topic to multiple asset portfolios and teaches people to eliminate or lower the risk in the investment by combining different portfolios. The paper finds the efficient frontier and suggests some possible combinations of risk free assets and risky assets. In addition, given the diverse circumstances, this paper introduces the idea of CAPM. Finally, this paper discusses the current skepticism about CAPM and the future expectation of the important idea in finance.

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According to the data recently released by OECD, the world's foreign direct investment showed a significant decline of 42% in 2020. However, China's FDI rose against the trend, becoming the world's largest foreign capital inflow country for the first time, and surpassing the United States. This paper uses the data of the Chinese National Bureau of Statistics and Wind data to analyze the main factors contributing to China's FDI. The results show that in the overall multiple linear regression, only the ratio of exports and imports has a negative correlation with FDI, the ratio of foreign trade to GDP, population, and the number of international firms have positive and the trade war between US and China and Covid-19 pandemic are not significant for FDI, the coefficient of two variables is both negative. For the multiple linear regression by year, the significant influencing factors in different years are different and show volatility.

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The Hong Kong stock market is one of the world's top financial markets, and some investors want to gain benefits by investing in the Hong Kong stock mar-ket. Some studies have found that reasonable asset management can effectively reduce risks and increase returns. Therefore, the research topic of this paper is the importance of investment portfolio for investors to profit in Hong Kong stock as a financial market. The research methodology of this paper is as follows: firstly, we collect the data of Hong Kong stock market, secondly, we organize and combine the data, and use the mean variance model to calculate the maximum return and risk under the asset portfolio. The results show that the portfolio can effectively improve the return and risk value of investments. The E Commerce and Internet Services sector has always been a large part of the portfolio and can be a prime target for investors.

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When the Chinese economy stopped amid the coronavirus pandemic, more than 6 million food delivery workers helped to distribute medicine, daily supplies, and meals becoming the crucial link between individual households and society. In light of the positive media attention and the heightened importance of food delivery workers, the researc her wondered if their living standards have actually been improved during COVID-19. Surveying 227 workers and interviewing 11 workers, the author conducted research on the impact of the pandemic on their compensation, ratings, social status and customer respect. After analyzing both the interview and survey data. This study found that although workers experienced a moderate improvement in their ratings, social status and customer respect, they also suffered a drastic income loss during the pandemic. Furthermore, this research found that the reasons behind those changes were mainly temporary and unique features of the pandemic. As the pandemic failed to make lasting systemic improvements in Chinese food delivery workers’ living standards, further research is needed to address their daily challenges.

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In light of the increased universal interest in corporate social responsibility (CSR), this article investigates how CSR characteristics impact customers’ satisfaction (CS) and customers’ loyalty (CT), as well as whether the corporate image (CI) has a moderating influence on the links among CSR and customer satisfaction (CS) and customer trustworthiness (CT). Consumers in impoverished and affluent economies may have distinct prospects for CSR. Structural equation modelling (SEM) is used for hypothesis testing in this study. According to findings, this study suggested that CSR has a substantial positive impact on CS and CT and that CS has a positive impact on CT. Consumer protection (CP), ethical responsibility (ETR), philanthropic responsibility (PR), green economic responsibility (ECR), and environmental contribution (EC) are conscripted in order of significance. Corporate Image (CI) has a significant moderating effect on the association between CSR and CS. Thus, authorities should execute CSR features from the consumer's perspective, which will persuade customers to be concerned with the businesses sympathetically. The assumption makes commendations for potential future study and marketing practice.

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Because of the development of Chinese stock market in recent years, more and more investors have entered the market. The classic Markowitz model can provide investors with investment methods that have shortcomings in practical application. Therefore, the classic model is modified to add transaction costs and turnover rate limits suitable for the Chinese market. This paper aims to study the influence of the restriction on the model before and after the application of the model comparison results. The restriction can push the predicted result from time point to time period, and can be adjusted according to the actual situation.

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The contradiction between energy supply and demand, environmental protection, and economic development is becoming more and more obvious. How to coordinate and balance the relations between energy, environment, and economy has become a common concern of scholars. In this context, the Energy-Environment-Economy (3E) system is gradually maturing, and up to now, the 3E system has been widely used in the evaluation of the development of various regions. In order to make the 3E system closer to the real social situation in the application, the measured results have more practical significance. Based on the new human capital theory, this paper summarizes and analyzes the relevant research literature, and discusses the influence of population on the three subsystems of energy, economy, and environment in the 3E system. It is found that population has an impact on each subsystem, among which it is worth noting that the impact of population on the environmental subsystem is diverse and complex, so the current situation of the 3E system is different from the theory. The article examines the impact of population on the 3E system in order to optimize and complement the 3E system.

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CBA is currently in a period of rapid development. A good home culture atmosphere improves the excitement of the game and attracts fans, and increases the audience’s enthusiasm. This thesis focuses on how the CBA can attract more fans through product packaging in home court culture. CBA product packaging plays an important role in the whole tournament. A series of packaging of products can stimulate consumer interest, increase the desire to buy, and improve the attendance rate of spectators watching the tournament, thus attracting media attention to the tournament enthusiasm, attracting various sponsors to CBA investment efforts. The CBA competition is a virtuous cycle. This will attract the fans and bring benefits to the club simultaneously. This paper will analyze the current situation of CBA and other leagues through case study and comparative analysis and make suggestions for the improvement of CBA in terms of home court atmosphere. The main value of the CBA league’s home court culture will be reflected to promote the socialization of people and contribute to the orderly operation and development of the society, etc., to contribute to the development of CBA in the world in the near future.

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