This paper uses the SSE 50ETF trading data to establish a quantitative timing trading strategy. Based on the SSE 300ETF as the comparison base, the Monte-Carlo simulation and BSM model is used to price the SSE 50ETF call option at 3850 in June 2021 and simulate the volatility path of the 50ETF index.
{"title":"Monte Carlo simulation of SSE 50ETF with trend timing strategy based on BSM option pricing","authors":"Xiaoping Ren, Ziqiang Wang, Hongyu An","doi":"10.1145/3512676.3512688","DOIUrl":"https://doi.org/10.1145/3512676.3512688","url":null,"abstract":"This paper uses the SSE 50ETF trading data to establish a quantitative timing trading strategy. Based on the SSE 300ETF as the comparison base, the Monte-Carlo simulation and BSM model is used to price the SSE 50ETF call option at 3850 in June 2021 and simulate the volatility path of the 50ETF index.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131144111","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Xiaogang Zhao, Siwei Dong, Yiwei Dang, Hai Shen, Hao Zhang, Genjian Li
It is difficult for consumers to make purchase decisions based on massive amount of online reviews. Therefore, a product selection method based on LDA topic model and stochastic dominance rules is proposed. The method first uses the LDA topic model to extract product attributes; secondly, sentiment analysis is applied to calculate the probability distribution and expectation matrix of different sentiment orientation; further, stochastic dominance rules and PROMETHEE-Ⅱ are used to calculate the ranking value of each product with different product attributes; finally, the best product is selected through the overall ranking value calculated by the entropy method. The feasibility and practicability of the method are illustrated by an example.
{"title":"A method for ranking products based on LDA topic model and stochastic dominance","authors":"Xiaogang Zhao, Siwei Dong, Yiwei Dang, Hai Shen, Hao Zhang, Genjian Li","doi":"10.1145/3512676.3512714","DOIUrl":"https://doi.org/10.1145/3512676.3512714","url":null,"abstract":"It is difficult for consumers to make purchase decisions based on massive amount of online reviews. Therefore, a product selection method based on LDA topic model and stochastic dominance rules is proposed. The method first uses the LDA topic model to extract product attributes; secondly, sentiment analysis is applied to calculate the probability distribution and expectation matrix of different sentiment orientation; further, stochastic dominance rules and PROMETHEE-Ⅱ are used to calculate the ranking value of each product with different product attributes; finally, the best product is selected through the overall ranking value calculated by the entropy method. The feasibility and practicability of the method are illustrated by an example.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128058583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A company's value is an important aspect to be maintained in the company. There will be more possible investors for the company if its value is high. The goal of this research is to look at the effect of business strategy, tax avoidance, and dividend policy on company value. Business strategy is one of the variables that investors consider when determining if a company is performing well. Tax avoidance is a risky business practice; thus, investors will be skeptical about the company and might choose not to invest in it. Dividend policy is one indication that the company is profitable; investors will want to invest in a profitable company. As a result, maintaining the company's value from a stakeholder standpoint is critical. The samples used are 29 manufacturing companies for 5 periods (2016-2020), so the total samples were 145 samples. The data used derives from the company's financial statements, which are available on the company's official website or the IDX website. The data were analyzed using panel data regression analysis. This study found that dividend policy has a positive effect on company value, meaning that the more profitable management's dividend policy is for investors, the company's value will increase because dividend distribution is considered as a return on investment and make investors feel more profitable. Finally, implications are discussed based on the findings.
{"title":"Analyzing The Effects of Business Strategy, Tax Avoidance, and Dividend Policy on Company Value: An Empirical Study","authors":"Levana Dhia Prawati, Sophiana Millenia, Thessalonica Kristianti","doi":"10.1145/3512676.3512696","DOIUrl":"https://doi.org/10.1145/3512676.3512696","url":null,"abstract":"A company's value is an important aspect to be maintained in the company. There will be more possible investors for the company if its value is high. The goal of this research is to look at the effect of business strategy, tax avoidance, and dividend policy on company value. Business strategy is one of the variables that investors consider when determining if a company is performing well. Tax avoidance is a risky business practice; thus, investors will be skeptical about the company and might choose not to invest in it. Dividend policy is one indication that the company is profitable; investors will want to invest in a profitable company. As a result, maintaining the company's value from a stakeholder standpoint is critical. The samples used are 29 manufacturing companies for 5 periods (2016-2020), so the total samples were 145 samples. The data used derives from the company's financial statements, which are available on the company's official website or the IDX website. The data were analyzed using panel data regression analysis. This study found that dividend policy has a positive effect on company value, meaning that the more profitable management's dividend policy is for investors, the company's value will increase because dividend distribution is considered as a return on investment and make investors feel more profitable. Finally, implications are discussed based on the findings.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":"87 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126187686","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Computer Applications are specially designed programmes that help users to perform particular tasks efficiently. The use of computer applications is crucial for businesses to cope up with the fast-moving global business world. On one hand, it has increased speed and accuracy, on the other hand, it has created problems such as unemployment, skill shortage and increasing operational expenses. Unemployment and skill shortage are serious problems in India where a large volume of people are poor and not literate even today. Such an issue is also increasing the hiring and retention cost for business firms. This research is exploratory research that tries to identify and define the impacts of computer applications on management and business. This initial study will open the door to the way various other research works.
{"title":"Role and its Impacts of Computer Application in Management and Business","authors":"Roshan Baa","doi":"10.1145/3512676.3512684","DOIUrl":"https://doi.org/10.1145/3512676.3512684","url":null,"abstract":"Computer Applications are specially designed programmes that help users to perform particular tasks efficiently. The use of computer applications is crucial for businesses to cope up with the fast-moving global business world. On one hand, it has increased speed and accuracy, on the other hand, it has created problems such as unemployment, skill shortage and increasing operational expenses. Unemployment and skill shortage are serious problems in India where a large volume of people are poor and not literate even today. Such an issue is also increasing the hiring and retention cost for business firms. This research is exploratory research that tries to identify and define the impacts of computer applications on management and business. This initial study will open the door to the way various other research works.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":"157 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121530353","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The financing constraint is becoming more and more obvious to the high-quality development of entrepreneurial enterprises, and how to solve this problem has become the focus of theoretical and practical research. Given this, this paper assesses the performance of science and technology finance policy on alleviating the financing constraints of entrepreneurial firms in the pilot regions using a quasi-natural experiment based on the data of GEM listed companies from 2009 to 2020 using the Difference-in-Difference(DID) method. The results show that : (1) The implementation of the policy significantly alleviates the financing constraints of entrepreneurial enterprises. (2) The policy effect of the science and technology finance policy increases significantly from the third year of implementation, indicating that there is a time lag effect of the policy on alleviating the financing constraints of entrepreneurial enterprises. (3) Science and technology finance policy can significantly alleviate the financing constraints of mature entrepreneurial enterprises, but the implementation effect on Startup in the growth stage is not obvious.
{"title":"Whether Science and Technology Finance Policy Ease Firms' Financing Constraints?: –Empirical Evidence from Chinese GEM Listed Companies","authors":"Qinyu Li, Jun Shen, Mengting He","doi":"10.1145/3512676.3512689","DOIUrl":"https://doi.org/10.1145/3512676.3512689","url":null,"abstract":"The financing constraint is becoming more and more obvious to the high-quality development of entrepreneurial enterprises, and how to solve this problem has become the focus of theoretical and practical research. Given this, this paper assesses the performance of science and technology finance policy on alleviating the financing constraints of entrepreneurial firms in the pilot regions using a quasi-natural experiment based on the data of GEM listed companies from 2009 to 2020 using the Difference-in-Difference(DID) method. The results show that : (1) The implementation of the policy significantly alleviates the financing constraints of entrepreneurial enterprises. (2) The policy effect of the science and technology finance policy increases significantly from the third year of implementation, indicating that there is a time lag effect of the policy on alleviating the financing constraints of entrepreneurial enterprises. (3) Science and technology finance policy can significantly alleviate the financing constraints of mature entrepreneurial enterprises, but the implementation effect on Startup in the growth stage is not obvious.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129134837","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Taking into account the fairness concerns of manufacturers and retailers, this paper examines the omni-channel price and service strategy in BOPS mode, analyzes the effects of fairness concerns on price and service decisions and supply chain sales, and determines the results through simulations Analysis verified. The results show that fairness concerns from both manufacturers and retailers have a significant impact on pricing, service levels, and service remuneration. If the manufacturer's concerns about fairness increase, the manufacturer will lower the retail price and the retailer will reduce the level of service and the service compensation. If the retailer's concerns about fairness increase, the manufacturer will increase the retail price and the retailer will improve the level of service and service compensation. In addition, the manufacturer's profit increases as the proportion of online consumers increases, if the manufacturer's concerns about fairness are certain.
{"title":"Research on Pricing and Service Strategies Considering Fairness Concerns under BOPS Mode","authors":"Yuling Sun, Jinming Dai, Xueying Hu","doi":"10.1145/3512676.3512690","DOIUrl":"https://doi.org/10.1145/3512676.3512690","url":null,"abstract":"Taking into account the fairness concerns of manufacturers and retailers, this paper examines the omni-channel price and service strategy in BOPS mode, analyzes the effects of fairness concerns on price and service decisions and supply chain sales, and determines the results through simulations Analysis verified. The results show that fairness concerns from both manufacturers and retailers have a significant impact on pricing, service levels, and service remuneration. If the manufacturer's concerns about fairness increase, the manufacturer will lower the retail price and the retailer will reduce the level of service and the service compensation. If the retailer's concerns about fairness increase, the manufacturer will increase the retail price and the retailer will improve the level of service and service compensation. In addition, the manufacturer's profit increases as the proportion of online consumers increases, if the manufacturer's concerns about fairness are certain.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132740106","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
With the development of middle and small-sized enterprises, more and more enterprises become listed companies in the capital market. However, there are many founders leave the companies after IPO and without any expectation. As the soul and representative of the enterprise, the abnormal departure of founder may have a deep influence on the enterprise performance. Based on the data of listed companies from 2009 to 2020 on GEM, this paper studies the influence of the phenomenon of founder departure on enterprise performance development. The results show that the abnormal departure of the company's founder will have a significant negative impact on the future performance of the company, while the normal departure will not have a significant negative impact on the subsequent performance of the company, and may even promote the development of the company's performance.
{"title":"Will theTurnover of Founder Influence the Performance of Listed Companies?","authors":"Cuifeng Wu, Ru Zhang","doi":"10.1145/3512676.3512695","DOIUrl":"https://doi.org/10.1145/3512676.3512695","url":null,"abstract":"With the development of middle and small-sized enterprises, more and more enterprises become listed companies in the capital market. However, there are many founders leave the companies after IPO and without any expectation. As the soul and representative of the enterprise, the abnormal departure of founder may have a deep influence on the enterprise performance. Based on the data of listed companies from 2009 to 2020 on GEM, this paper studies the influence of the phenomenon of founder departure on enterprise performance development. The results show that the abnormal departure of the company's founder will have a significant negative impact on the future performance of the company, while the normal departure will not have a significant negative impact on the subsequent performance of the company, and may even promote the development of the company's performance.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130426112","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Kentaroh Toyoda, Justin Lim Kim Moh, Nang Hsu Hlaing Mon, Alvin Soo
As each organization has different enterprise systems, securely sharing and managing data between organizations is not an easy task. Blockchain technologies are a powerful tool to enable this, and many blockchain-based data storing methods have been proposed. However, they often take a rather tailor-made approach, meaning that a blockchain system needs to be developed to a specific underlying enterprise system. To fill this gap, we propose a flexible, immutable, and interoperable data storage system with blockchain. We demonstrated our system with construction companies’ contracts and progressive claims use-case.
{"title":"Design and Implementation of Blockchain-enabled Immutable and Interoperable Data Management System for Enterprise Systems","authors":"Kentaroh Toyoda, Justin Lim Kim Moh, Nang Hsu Hlaing Mon, Alvin Soo","doi":"10.1145/3512676.3512678","DOIUrl":"https://doi.org/10.1145/3512676.3512678","url":null,"abstract":"As each organization has different enterprise systems, securely sharing and managing data between organizations is not an easy task. Blockchain technologies are a powerful tool to enable this, and many blockchain-based data storing methods have been proposed. However, they often take a rather tailor-made approach, meaning that a blockchain system needs to be developed to a specific underlying enterprise system. To fill this gap, we propose a flexible, immutable, and interoperable data storage system with blockchain. We demonstrated our system with construction companies’ contracts and progressive claims use-case.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133152409","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
While numerous corporations seek high-quality capital in overseas markets, very little is known about the political risks embedded in this new wave of financial globalization. This research utilizes the trade dispute between the U.S. and China during 2017-2020 to examine how political risks harm the stock prices of firms listed in advanced stock markets. Using a difference-in-differences (DiD) analysis, this paper documents the negative impact of the trade war President Trump led which affects publicly listed Chinese stocks in the U.S. stock market. The findings demonstrate a salient effect of political risks, showing that the U.S. tariff policy shocks have a significant negative impact on the U.S.-listed Chinese stocks compared with the S&P 500 companies when policies have specific tariff target, leading to a 4.1%-12.6% underperformance of U.S.-listed Chinese stocks. However, this study does not find that the phase one deal, which de-escalates the situation, has a positive impact on the stock price of U.S.-listed Chinese firms.
{"title":"The Effect of U.S.-China Trade War on the Performance of U.S.-listed Chinese Firms","authors":"Yiqing Feng","doi":"10.1145/3512676.3512687","DOIUrl":"https://doi.org/10.1145/3512676.3512687","url":null,"abstract":"While numerous corporations seek high-quality capital in overseas markets, very little is known about the political risks embedded in this new wave of financial globalization. This research utilizes the trade dispute between the U.S. and China during 2017-2020 to examine how political risks harm the stock prices of firms listed in advanced stock markets. Using a difference-in-differences (DiD) analysis, this paper documents the negative impact of the trade war President Trump led which affects publicly listed Chinese stocks in the U.S. stock market. The findings demonstrate a salient effect of political risks, showing that the U.S. tariff policy shocks have a significant negative impact on the U.S.-listed Chinese stocks compared with the S&P 500 companies when policies have specific tariff target, leading to a 4.1%-12.6% underperformance of U.S.-listed Chinese stocks. However, this study does not find that the phase one deal, which de-escalates the situation, has a positive impact on the stock price of U.S.-listed Chinese firms.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134540053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
With the continuous development of China's stock market, the report issued by stock analysts is an important basis for institutional investors and individual investors to make investment decisions. Based on the analysts' basic rating of stocks, this paper uses the samples of listed companies on GEM to study whether the analysts' rating of stocks has credibility. The results show that according to analysts' rating report can improve the stock return, that is to say, analysts' rating of GEM stock is trustworthy, and investors can obtain the excess return based on analysts' rating report. The research of this paper enriches the research results of stock analysts on whether the stock rating of listed companies on GEM is credible or not, and also reflects the market efficiency of analysts' stock rating on the other hand. At the same time, the research on the credibility of stock rating can help investors to consider more comprehensively when viewing analysts' rating reports, make more rational investment decisions, and better understand the stock market.
{"title":"Is the analysis of stock analysts credible?—Evidence from Chinese listed companies","authors":"Cuifeng Wu, Ling Chen","doi":"10.1145/3512676.3512686","DOIUrl":"https://doi.org/10.1145/3512676.3512686","url":null,"abstract":"With the continuous development of China's stock market, the report issued by stock analysts is an important basis for institutional investors and individual investors to make investment decisions. Based on the analysts' basic rating of stocks, this paper uses the samples of listed companies on GEM to study whether the analysts' rating of stocks has credibility. The results show that according to analysts' rating report can improve the stock return, that is to say, analysts' rating of GEM stock is trustworthy, and investors can obtain the excess return based on analysts' rating report. The research of this paper enriches the research results of stock analysts on whether the stock rating of listed companies on GEM is credible or not, and also reflects the market efficiency of analysts' stock rating on the other hand. At the same time, the research on the credibility of stock rating can help investors to consider more comprehensively when viewing analysts' rating reports, make more rational investment decisions, and better understand the stock market.","PeriodicalId":281300,"journal":{"name":"Proceedings of the 2022 5th International Conference on Computers in Management and Business","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130159811","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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