Volume 128

The paper discusses how Environmental, Social, and Governance (ESG) integration may optimise corporate financial performance and climate-related risks and opportunities considering the mounting problem of climate change. We qualitatively and quantitatively examine how ESG integration affects corporate financial performance using the Pearson correlation coefficient, arbitrage pricing theory (APT) and scenario analysis as theoretical frameworks. The Pearson correlation coefficient assists in identifying potential correlations between ESG rating and return on assets (ROA). The APT assists in explaining the expected return after integrating ESG factors, while scenario analysis offers a measure of the possible risks of the portfolio connected to climate change concerns. We use the Morgan Stanley Capital Index (MSCI) ESG rating standards to evaluate a company's potential ESG performance. Furthermore, this paper's climate-related financial risk analysis is predicated on the four fundamental components of the Task Force on Climate-Related Financial Disclosure (TCFD) structure: Governance, Strategy, Risk Management, Metrics and Targets. The empirical findings reveal that integrating ESG factors into enterprise management tends to exhibit better financial performance and experience significant mitigation of climate-related risks. The research provides valuable insights for investors and policymakers to guide them towards more sustainable and risk-averse investment practices.

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In recent years, as China transitions into an aging society following Japan and South Korea, interest in leveraging opportunities within what is commonly referred to as “the silver economy” has grown significantly among various industry stakeholders. Many Chinese enterprises are now at a stage where they are actively exploring potential markets associated with population aging trends, notably within healthcare sectors, which are adapting their strategies towards addressing needs specific to elderly populations, thereby reshaping their current business models accordingly. However, there is still a lack of comprehensive studies that examine how such shifts impact overall corporate frameworks. This paper takes Vishee Medical Company as an example to analyze the existing business model of Vishee Medical and its transformation and innovation under the "silver economy" context. The long-term strategic planning for the "silver economy" has led to a gradual increase in Vishee Medical’s sales data. The results also indicate that Vishee Medical’s business behavior changes include expanding its own product market, prioritizing research and development of products related to aging, and actively promoting a customer-centric corporate philosophy. Building upon the discourse on the “silver economy”, this paper aims to investigate potential business opportunities, advances theoretical research within the context of China's “silver economy”, and offers a solid theoretical foundation and recommendations for the market development of China's “silver economy”.

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The advent of globalization and technological advances has driven the logistics industry into a period of rapid transformation, bringing new challenges and opportunities in the area of supply chain dynamics and operational procedures. In this evolving scenario, the Warehouse-Distribution Integration (WDI) through strategies such as the Vendor Managed Inventory (VMI), has emerged as a key factor in enhancing efficiency and competitiveness. Therefore, the paper explores the integration of WDI into VMI strategies, emphasizing their implementation and the potential for enhancing logistics efficiency. Existing studies related to VMI and WDI are reviewed, focusing primarily on the operational procedures, impacts, and benefits associated with such integration. And the logistics operations and challenges faced by a particular company, Yonghui Superstore, are examined to illustrate the necessity for efficacious warehouse and distribution integration under a VMI strategy. Through VMI cost modeling, it provides strategic insights for improving logistics efficiency and reducing costs. The results indicate that logistics strategies must be aligned with the changing global environment and provide avenues for future research into the benefits of VMI integration.

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With the development of the Internet, online shopping has become a part of people's daily lives, and new marketing strategies appear. This paper first analyzes the current mainstream online marketing strategies, namely short video, pictures-and-words, and live streaming. Then, this paper focuses on the factors affecting consumer decision-making, typically in live streaming marketing. Further, the paper discusses the negative impacts of live streaming on consumers, such as inducing consumption and concealing important information about the goods, which lead to impulsive spending. One of the main concerns is the current marketing tactics in live streaming which negatively affect the health of the youth, especially the sales related to games during live streaming with a gambling nature. The negative impacts are resulted from the failure of platforms in regulating the content of live streaming, as well as a lack of comprehensive cyber laws. It is recommended that platforms should strengthen the regulation of live streaming, increase the protection of teenagers and improve the quality of live streamers.

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With the continuous development of digital entertainment, open-world anime-style games have shown a significant growth trend in the Chinese market. This study focuses on analyzing the driving factors behind this phenomenon and its impact on the gaming industry, particularly how anime culture plays a role in game design and meeting player demands. Utilizing methods of literature review and market research, this paper delves into the characteristics of anime culture, the development of open-world games, and how their integration innovates the gaming experience, attracting a large number of players. The research questions concentrate on how this cultural and technological integration can promote innovative game design and explore its specific impact on the Chinese market. The study finds that anime culture not only enhances the narrative and visual presentation of games but also drives market expansion by meeting the needs of young players for gameplay, narrative, and emotional engagement with characters. Ultimately, this research points out that a deep understanding of the interaction between cultural elements and market demands is crucial for developing commercially successful games.

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Sales forecasting is a key part of business operations, providing essential insights for inventory management, financial planning, and strategic decision-making. With the advent of big data, traditional forecasting methods have evolved, leveraging advanced machine learning and different deep learning models to increase accuracy and efficiency. This paper reviews recent research on the use of big data techniques in sales forecasting, focusing on diverse industries such as retail, e-commerce, and automotive. Through an analysis of case studies and research findings, this study emphasizes the effectiveness of machine learning models like XGBoost, Random Forests, and RNNs in improving forecast accuracy in the context of big data. The review also addresses the challenges and limitations of current methodologies, offering insights into future research directions. The significance of this research lies in its comprehensive overview of the state-of-the-art in sales forecasting, providing a valuable resource for researchers and practitioners aiming to optimize business strategies through big data.

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To discover the relationship between digital transformation, supply chain finance, and firm performance, this study selects the financial data of Chinese-listed manufacturing enterprises from 2009 to 2022. It excludes the companies that will be delisted or listed for less than one year. Using Python to search for digital transformation frequency and other variables in annual reports and by building a structural equation model for digital transformation, supply chain finance, and firm performance with the help of SPSS and AMOS, this article shows ample results. Those results show that supply chain finance can alleviate the pressure of the cash chain to a great extent and then improve various performance indicators. To sum up, for listed manufacturing companies, the degree of supply chain finance, the financial performance of enterprises, and environmental, social, and governance indicators are positively correlated, and the degree of digital transformation has a mediating effect in this model, which means supply chain finance can influence firm performance by improving the digital transformation degree in a manufacturing firm.

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Contemporarily, cryptocurrency have been established and widely recognized as an alternative method of exchange currency. As computer technology advances, the trading of cryptocurrency is increasingly viewed as a popular and lucrative form of investment. On the other hand, the volatile nature of cryptocurrency results in sudden and unpredictable price fluctuations. Consequently, the necessity for developing a precise and dependable predictive model for portfolio management and optimization is acknowledged. At present, RNN and other deep learning models are commonly utilized in predicting stock prices, ensemble learning methods including Random Forest and Xgboost have been widely implemented and researched in the realm of investments, engagement in trading activities in various fields including gold and other markets. However, research on cryptocurrency investment is still insufficient and the practical application of the mentioned models has not yielded satisfactory returns. As machine learning and artificial intelligence continue to advance, the enhancement of machine learning models' mechanisms could significantly boost the accuracy in predicting cryptocurrency prices. Hence, the utilization of Transformer architecture alongside various established models was opted for in the prediction of Bitcoin's price. The attention mechanism embedded in the Transformer model has proven to be effective in anticipating the value of assets undergoing significant price shifts. Meanwhile, the difference in the accuracy of short-term and long-term price prediction of each model may also help and guide cryptocurrency investors in model selection and development during investment and market analysis.

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With the rapid development of science and technology, the express delivery industry has gradually made great progress and development. The Internet of Things (IoT) has revolutionized various aspects of technology, particularly in the development of smart cities. This paper, using the method of literature review and case study, explores the architectural foundations, benefits, and challenges of IoT in smart city applications, analyzes current implementations and proposes future research directions to address existing issues, enhancing the efficiency and sustainability of urban environments. The analysis of current implementations reveals that IoT has played a crucial role in enhancing the efficiency and sustainability of urban environments. By improving operational efficiency and strengthening the capacity for sustainable development, IoT has emerged as a pivotal technology in the pursuit of smarter, more livable cities. This research holds significant value for city planners and decision-makers, guiding the transition towards increasingly intelligent, efficient, and sustainable urban environments.

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In modern society, bidding and tendering have become an integral part of economic activities and are increasingly attracting public attention. This article innovatively combines game theory with bidding practice. Through extensive collection and analysis of network resources and in-depth research on real cases, it aims to deeply analyze the internal logic of the bidding mechanism and optimize bidding through the perspective of game theory. Tender design to significantly improve resource allocation efficiency and market fairness. Finally, this article emphasizes that game theory can deepen the understanding of bidding dynamics, optimize strategies, highlight the value of information transparency and long-term cooperation, propose policy and mechanism improvement suggestions, and promote a fair and efficient market environment. This article underlines the transformative potential of game theory as a tool for revealing hidden inefficiencies and corruption within bidding processes. By advocating for policies that foster open and transparent tender practices, it seeks to empower stakeholders to make more informed decisions, thereby nurturing a culture of integrity and ethical competition in markets worldwide.

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