Financial fraud, which has become a global issue, is a subject of discussion, surpassing time. Financial fraud significantly undermines investors’ confidence and affects the health of capital markets. Hence, it is valuable to explore the reasons for committing financial fraud and propose solutions to this issue. This paper focuses on two financial fraud cases in recent years, Toshiba in 2015 and Luckin Coffee in 2020, analyzes and compares the reasons for the financial fraud in terms of pressure and opportunity factors, as well as proposes comprehensive suggestions for dealing with the corporate financial fraud issue.
{"title":"Toshiba and Luckin Coffee: A Study of the Reasons for Committing Financial Fraud","authors":"Xinyan Jiang","doi":"10.26689/pbes.v5i5.4423","DOIUrl":"https://doi.org/10.26689/pbes.v5i5.4423","url":null,"abstract":"Financial fraud, which has become a global issue, is a subject of discussion, surpassing time. Financial fraud significantly undermines investors’ confidence and affects the health of capital markets. Hence, it is valuable to explore the reasons for committing financial fraud and propose solutions to this issue. This paper focuses on two financial fraud cases in recent years, Toshiba in 2015 and Luckin Coffee in 2020, analyzes and compares the reasons for the financial fraud in terms of pressure and opportunity factors, as well as proposes comprehensive suggestions for dealing with the corporate financial fraud issue.","PeriodicalId":310426,"journal":{"name":"Proceedings of Business and Economic Studies","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134071235","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}
This paper uses the panel data of 17 cities in Shandong Province from 2003 to 2018 to construct a panel model to empirically study the impact of foreign direct investment (FDI) on the industrial structure. The results show that two-way investment, financial industry development, and policy variables have significant roles in promoting the advancement of the industrial structure in the province. In the future implementation of the “Going Global” strategy in Shandong Province, the cooperation between two-way investment and the financial industry should be strengthened, the level of regional financial development should be improved, and the impact of two-way investment on the optimization and upgrading of the industrial structure should be reinforced.
{"title":"Impact of Two-Way FDI on the Industrial Structure in Shandong Province Under the Background of “New and Old Kinetic Energy Conversion”","authors":"Zhiqing Xia, G. Song, Zahid I. Hussain","doi":"10.26689/pbes.v5i5.4448","DOIUrl":"https://doi.org/10.26689/pbes.v5i5.4448","url":null,"abstract":"This paper uses the panel data of 17 cities in Shandong Province from 2003 to 2018 to construct a panel model to empirically study the impact of foreign direct investment (FDI) on the industrial structure. The results show that two-way investment, financial industry development, and policy variables have significant roles in promoting the advancement of the industrial structure in the province. In the future implementation of the “Going Global” strategy in Shandong Province, the cooperation between two-way investment and the financial industry should be strengthened, the level of regional financial development should be improved, and the impact of two-way investment on the optimization and upgrading of the industrial structure should be reinforced.","PeriodicalId":310426,"journal":{"name":"Proceedings of Business and Economic Studies","volume":"290 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132848342","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 consumer psychology of consumers is constantly changing. Under the abundant material life, the emotional and personalized needs of consumers for products are highly valued. Winery tourism is a new ecotourism project. Its high-end and fashionable characteristics do not only meet consumers’ demand for personalized tourism, but also their pursuit for high-quality and fashionable leisure ways; thus, it has broad development prospects. At present, Qingdao winery tourism has begun to take shape, but in it faces problems in its development, especially in terms of resource integration and brand development. Therefore, taking the development of Qingdao winery tourism as an example, this paper puts forward several development countermeasures and policy objectives as well as provides a scientific analysis basis for the development of Qingdao winery tourism.
{"title":"Economic Opportunities of Qingdao Winery as a New Ecotourism Destination","authors":"Yang Meng","doi":"10.26689/pbes.v5i5.4309","DOIUrl":"https://doi.org/10.26689/pbes.v5i5.4309","url":null,"abstract":"The consumer psychology of consumers is constantly changing. Under the abundant material life, the emotional and personalized needs of consumers for products are highly valued. Winery tourism is a new ecotourism project. Its high-end and fashionable characteristics do not only meet consumers’ demand for personalized tourism, but also their pursuit for high-quality and fashionable leisure ways; thus, it has broad development prospects. At present, Qingdao winery tourism has begun to take shape, but in it faces problems in its development, especially in terms of resource integration and brand development. Therefore, taking the development of Qingdao winery tourism as an example, this paper puts forward several development countermeasures and policy objectives as well as provides a scientific analysis basis for the development of Qingdao winery tourism.","PeriodicalId":310426,"journal":{"name":"Proceedings of Business and Economic Studies","volume":"46 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116651444","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}
In today’s era, with the increase in the number of enterprise innovations, enterprises must adopt project portfolio management for various innovations, select alternative projects from the perspective of enterprise strategy. This paper primarily explores the use of project portfolio management in enterprise project management, hoping to improve the quality of enterprise project management and the utilization efficiency of project portfolio management in enterprise project management.
{"title":"The Impact of Project Portfolio Management on Enterprise Strategic Objectives","authors":"Qiting Song","doi":"10.26689/pbes.v5i5.4449","DOIUrl":"https://doi.org/10.26689/pbes.v5i5.4449","url":null,"abstract":"In today’s era, with the increase in the number of enterprise innovations, enterprises must adopt project portfolio management for various innovations, select alternative projects from the perspective of enterprise strategy. This paper primarily explores the use of project portfolio management in enterprise project management, hoping to improve the quality of enterprise project management and the utilization efficiency of project portfolio management in enterprise project management.","PeriodicalId":310426,"journal":{"name":"Proceedings of Business and Economic Studies","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121209930","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 article first addresses the following questions: “Why does gross domestic product (GDP) rises, but the stock market value falls?”; “Among the macroeconomic factors, which factor has a greater impact on the promotion of investment value in the securities market?”. With these questions in mind, we put forward a hypothesis emphasizing on the impact of macroeconomic factors on the value of the stock market based on existing research and used the regression method to verify this hypothesis. The following conclusions were drawn: (1) variables that have a positive nonlinear relationship with stock market value include balance of payments surplus, rising GDP level, M1, the whole society’s fixed asset investment, and national per capita disposable income; (2) variables that have a negative nonlinear relationship with stock market value include deposit, loan interest rate, new RMB loan amount, consumer price index (CPI), and producer price index; (3) deposit reserve ratio has an S-shaped curve relationship with stock market value; (4) exchange rate has an inverted U-shaped curve relationship with stock market value.
{"title":"Research on the Relationship Between Macroeconomic Indicators and Stock Market Value","authors":"Yu Meng, Baowen Li, Jing Yang, Yong Wang, Jianxun Niu","doi":"10.26689/pbes.v5i5.4243","DOIUrl":"https://doi.org/10.26689/pbes.v5i5.4243","url":null,"abstract":"The article first addresses the following questions: “Why does gross domestic product (GDP) rises, but the stock market value falls?”; “Among the macroeconomic factors, which factor has a greater impact on the promotion of investment value in the securities market?”. With these questions in mind, we put forward a hypothesis emphasizing on the impact of macroeconomic factors on the value of the stock market based on existing research and used the regression method to verify this hypothesis. The following conclusions were drawn: (1) variables that have a positive nonlinear relationship with stock market value include balance of payments surplus, rising GDP level, M1, the whole society’s fixed asset investment, and national per capita disposable income; (2) variables that have a negative nonlinear relationship with stock market value include deposit, loan interest rate, new RMB loan amount, consumer price index (CPI), and producer price index; (3) deposit reserve ratio has an S-shaped curve relationship with stock market value; (4) exchange rate has an inverted U-shaped curve relationship with stock market value.","PeriodicalId":310426,"journal":{"name":"Proceedings of Business and Economic Studies","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128922198","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}
We use the Autoregressive Integrated Moving Average (ARIMA) model and Facebook Prophet model to predict the closing stock price of Google during the COVID-19 pandemic as well as compare the accuracy of these two models’ predictions. We first examine the stationary of the dataset and use ARIMA(0,1,1) to make predictions about the stock price during the pandemic, then we train the Prophet model using the stock price before January 1, 2021, and predict the stock price after January 1, 2021, to present. We also make a comparison of the prediction graphs of the two models. The empirical results show that the ARIMA model has a better performance in predicting Google’s stock price during the pandemic.
{"title":"ARIMA and Facebook Prophet Model in Google Stock Price Prediction","authors":"Beijia Jin, Shuning Gao, Zheng Tao","doi":"10.26689/pbes.v5i5.4386","DOIUrl":"https://doi.org/10.26689/pbes.v5i5.4386","url":null,"abstract":"We use the Autoregressive Integrated Moving Average (ARIMA) model and Facebook Prophet model to predict the closing stock price of Google during the COVID-19 pandemic as well as compare the accuracy of these two models’ predictions. We first examine the stationary of the dataset and use ARIMA(0,1,1) to make predictions about the stock price during the pandemic, then we train the Prophet model using the stock price before January 1, 2021, and predict the stock price after January 1, 2021, to present. We also make a comparison of the prediction graphs of the two models. The empirical results show that the ARIMA model has a better performance in predicting Google’s stock price during the pandemic.","PeriodicalId":310426,"journal":{"name":"Proceedings of Business and Economic Studies","volume":"2200 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130132053","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}
Since the release of the “Outline of the National Medium- and Long-Term Education Reform and Development Plan (2010–2020),” “new universities” have garnered widespread attention. The system and mechanism of these “new universities” are different from those of traditional universities. They have their own ways of running schools, management systems, and personnel training methods, all of which bring a different kind of pressure to government management. Looking from a financial perspective, this is also the key research subject of finance and financial personnel. We put forward implementation suggestions for the construction of the “new university” management system based on the experience summed up in the work and contribute to the country’s higher education.
{"title":"Research on the “New University” Management System from the Perspective of Finance","authors":"Minfang Li","doi":"10.26689/pbes.v5i5.4411","DOIUrl":"https://doi.org/10.26689/pbes.v5i5.4411","url":null,"abstract":"Since the release of the “Outline of the National Medium- and Long-Term Education Reform and Development Plan (2010–2020),” “new universities” have garnered widespread attention. The system and mechanism of these “new universities” are different from those of traditional universities. They have their own ways of running schools, management systems, and personnel training methods, all of which bring a different kind of pressure to government management. Looking from a financial perspective, this is also the key research subject of finance and financial personnel. We put forward implementation suggestions for the construction of the “new university” management system based on the experience summed up in the work and contribute to the country’s higher education.","PeriodicalId":310426,"journal":{"name":"Proceedings of Business and Economic Studies","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132909889","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}
Stock market has a profound impact on the market economy, Hence, the prediction of future movement of stocks is of great significance to investors. Therefore, an efficient prediction system can solve this problem to a great extent. In this paper, we used the stock price of Google Inc. as a prediction object, selected 3810 adjusted closing prices, and used long short-term memory (LSTM) method to predict the future price trend of the stock. We built a three-layer LSTM model and divided the entire data into a test set and a training set according to the ratio of 8 to 2. The final results show that while the LSTM model can predict the stock trend of Google Inc. very well, it cannot predict the specific price accurately.
{"title":"Predicting Google’s Stock Price with LSTM Model","authors":"Tianlei Zhu, Yuexin Liao, Zheng Tao","doi":"10.26689/pbes.v5i5.4361","DOIUrl":"https://doi.org/10.26689/pbes.v5i5.4361","url":null,"abstract":"Stock market has a profound impact on the market economy, Hence, the prediction of future movement of stocks is of great significance to investors. Therefore, an efficient prediction system can solve this problem to a great extent. In this paper, we used the stock price of Google Inc. as a prediction object, selected 3810 adjusted closing prices, and used long short-term memory (LSTM) method to predict the future price trend of the stock. We built a three-layer LSTM model and divided the entire data into a test set and a training set according to the ratio of 8 to 2. The final results show that while the LSTM model can predict the stock trend of Google Inc. very well, it cannot predict the specific price accurately.","PeriodicalId":310426,"journal":{"name":"Proceedings of Business and Economic Studies","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127260458","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}
In this present-day global pandemic that has not been completely resolved, health is a major concern among people, and correspondingly, people are demanding higher standards for public health products and services provided by the government. In this paper, we measure the technical efficiency of public health expenditure in each province by using the data envelopment analysis (DEA) model, and examine the impact of decentralization on the efficiency of public health expenditure under the fiscal decentralization system using the panel data from 31 provinces from 2012–2019 in a panel model subject to fixed effects.
{"title":"A Study of the Impact of Fiscal Decentralization on the Efficiency of Public Health Expenditure","authors":"Xiaoman Wu, Ting Geng, Xiaojie Peng","doi":"10.26689/pbes.v5i5.4104","DOIUrl":"https://doi.org/10.26689/pbes.v5i5.4104","url":null,"abstract":"In this present-day global pandemic that has not been completely resolved, health is a major concern among people, and correspondingly, people are demanding higher standards for public health products and services provided by the government. In this paper, we measure the technical efficiency of public health expenditure in each province by using the data envelopment analysis (DEA) model, and examine the impact of decentralization on the efficiency of public health expenditure under the fiscal decentralization system using the panel data from 31 provinces from 2012–2019 in a panel model subject to fixed effects.","PeriodicalId":310426,"journal":{"name":"Proceedings of Business and Economic Studies","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130125717","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}
Finding the best model to predict the trend of stock prices is an issue that has always garnered attention, and it is also closely related to investors’ investment dynamics. Even the commonly used autoregressive integrated moving average (ARIMA), extreme gradient boosting (XGBoost), and long short-term memory (LSTM) have their own advantages and disadvantages. We use mean squared error (MSE) to judge the most suitable model for predicting Amazon’s stock price from many aspects and find that LSTM is the model with the best fitting effect and the closest to the real curve. However, the LSTM model still needs to improve in terms of performance so as to reduce the bias. We anticipate the discovery of more models that are apt for predicting stocks in the future.
{"title":"Prediction of Amazon’s Stock Price Based on ARIMA, XGBoost, and LSTM Models","authors":"Zhe Zhu, Kexin He","doi":"10.26689/pbes.v5i5.4432","DOIUrl":"https://doi.org/10.26689/pbes.v5i5.4432","url":null,"abstract":"Finding the best model to predict the trend of stock prices is an issue that has always garnered attention, and it is also closely related to investors’ investment dynamics. Even the commonly used autoregressive integrated moving average (ARIMA), extreme gradient boosting (XGBoost), and long short-term memory (LSTM) have their own advantages and disadvantages. We use mean squared error (MSE) to judge the most suitable model for predicting Amazon’s stock price from many aspects and find that LSTM is the model with the best fitting effect and the closest to the real curve. However, the LSTM model still needs to improve in terms of performance so as to reduce the bias. We anticipate the discovery of more models that are apt for predicting stocks in the future.","PeriodicalId":310426,"journal":{"name":"Proceedings of Business and Economic Studies","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131268949","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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