Pub Date : 1900-01-01DOI: 10.2991/assehr.k.211209.014
Xiaoguang He, Hanyu Li, Xiao-Bo Peng, Jingyi Yang
Capital structure decisions are important to the company. The capital structure is a combination of debt and equity used by a company to finance its overall operation and growth. Nowadays a company with a simple capital structure can hardly survive with the development of the market and society. As a result, it is quite significant to deeply study the structures and thus give more support to the company’s development. However, the questions we solved rarely consider the impacts of frictions and taxes. Based on the Modigliani and Miller theory(MM theory)and the concept of the weighted average cost of capital (WACC), we demonstrate the conclusion that the proportion of debt in a company’s capital structure makes no difference to the value of the company. This paper aims to help companies make better decisions and investments by estimating risks, returns, and the impacts from different capital structures on companies as well as the calculations of cashflows.
资本结构决策对公司来说很重要。资本结构是公司用于为其整体运营和增长提供资金的债务和股权的组合。如今，随着市场和社会的发展，一个资本结构简单的公司很难生存。因此，深入研究其结构，为公司的发展提供更多的支持，具有十分重要的意义。然而，我们解决的问题很少考虑摩擦和税收的影响。基于Modigliani and Miller理论(MM理论)和加权平均资本成本(WACC)的概念，我们证明了债务在公司资本结构中的比例对公司价值没有影响的结论。本文旨在通过评估风险、回报以及不同资本结构对公司的影响以及现金流的计算，帮助公司做出更好的决策和投资。
{"title":"Investigate the Capital Structure of Facebook Based on Financial Model","authors":"Xiaoguang He, Hanyu Li, Xiao-Bo Peng, Jingyi Yang","doi":"10.2991/assehr.k.211209.014","DOIUrl":"https://doi.org/10.2991/assehr.k.211209.014","url":null,"abstract":"Capital structure decisions are important to the company. The capital structure is a combination of debt and equity used by a company to finance its overall operation and growth. Nowadays a company with a simple capital structure can hardly survive with the development of the market and society. As a result, it is quite significant to deeply study the structures and thus give more support to the company’s development. However, the questions we solved rarely consider the impacts of frictions and taxes. Based on the Modigliani and Miller theory(MM theory)and the concept of the weighted average cost of capital (WACC), we demonstrate the conclusion that the proportion of debt in a company’s capital structure makes no difference to the value of the company. This paper aims to help companies make better decisions and investments by estimating risks, returns, and the impacts from different capital structures on companies as well as the calculations of cashflows.","PeriodicalId":322864,"journal":{"name":"Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)","volume":"71 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124620401","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}
Pub Date : 1900-01-01DOI: 10.2991/assehr.k.211209.556
Ziyi Zhu
{"title":"Simplification of Water Quality Classification in Beijing, Tianjin and Hebei Based on K-nearest Neighbor Algorithm","authors":"Ziyi Zhu","doi":"10.2991/assehr.k.211209.556","DOIUrl":"https://doi.org/10.2991/assehr.k.211209.556","url":null,"abstract":"","PeriodicalId":322864,"journal":{"name":"Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130528936","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}
Pub Date : 1900-01-01DOI: 10.2991/assehr.k.211209.533
Yi Liu
{"title":"E-commerce Price War Based on Game Theory","authors":"Yi Liu","doi":"10.2991/assehr.k.211209.533","DOIUrl":"https://doi.org/10.2991/assehr.k.211209.533","url":null,"abstract":"","PeriodicalId":322864,"journal":{"name":"Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126694833","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}
Pub Date : 1900-01-01DOI: 10.2991/assehr.k.211209.231
Yafei Zhang
{"title":"Analysis of the Factors Influencing the Financing Efficiency of SMEs","authors":"Yafei Zhang","doi":"10.2991/assehr.k.211209.231","DOIUrl":"https://doi.org/10.2991/assehr.k.211209.231","url":null,"abstract":"","PeriodicalId":322864,"journal":{"name":"Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)","volume":"300 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123921289","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}
Pub Date : 1900-01-01DOI: 10.2991/assehr.k.211209.288
Yisong Tan
{"title":"Compositional Stochastic Model Checking Probabilistic Automata via Assume-guarantee Reasoning","authors":"Yisong Tan","doi":"10.2991/assehr.k.211209.288","DOIUrl":"https://doi.org/10.2991/assehr.k.211209.288","url":null,"abstract":"","PeriodicalId":322864,"journal":{"name":"Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123724306","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}
Pub Date : 1900-01-01DOI: 10.2991/assehr.k.211209.387
Gai Wenxin
{"title":"Influence Mechanism of Bilili Gourmet Videos on User Interaction Intention","authors":"Gai Wenxin","doi":"10.2991/assehr.k.211209.387","DOIUrl":"https://doi.org/10.2991/assehr.k.211209.387","url":null,"abstract":"","PeriodicalId":322864,"journal":{"name":"Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121202954","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}
Pub Date : 1900-01-01DOI: 10.2991/assehr.k.211209.321
Feiyang Xu
{"title":"System Management Innovation","authors":"Feiyang Xu","doi":"10.2991/assehr.k.211209.321","DOIUrl":"https://doi.org/10.2991/assehr.k.211209.321","url":null,"abstract":"","PeriodicalId":322864,"journal":{"name":"Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126516971","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}
Pub Date : 1900-01-01DOI: 10.2991/assehr.k.211209.448
Ruiyuan Qi
At present, the lifestyle toy industry has shown great development potential in both domestic and international markets. With the introduction of blind box products into China, the market of blind box products in China has rapidly grown to a ten million market. Since its establishment 11 years ago, POP MART has transformed itself from a small toy collection store to an IP brand that mainly develops its own products. With the concept of "blind box", POP MART has become the most famous toy company in China. The emergence of POP MART satisfies the young generation's exploration of the unknown and love of art. It weakens the distance of "art" and pulls it into the life of the younger generation. POPMART's blind box products will also give more anxious young people a mind to relax. Thus, this article aims to analyze the risks and disadvantages of small and medium-sized lifestyle toy companies based on the successful experience of POP MART in the context of the growing lifestyle toy market, to put forward suggestions for the development of small and medium-sized toy companies. Besides, SWOT model is used to analyze the strengths, weaknesses, opportunity, threats of SMEs in lifestyle toy industry. Finally, it concludes that the emergence of the blind box and the gradual transformation of its business model are the keys to POP MART's success. In addition, SMEs in the lifestyle toy industry have problems such as low profit, financing difficulties, insufficient research and innovation ability, great competitive pressure, increased cost, and brain drain, and there are also opportunities for them to learn from experience, facilitate talent discovery, government policy support and excellent economic environment. Therefore, lifestyle toy SMEs should pay attention to increase the company's innovation capacity, subdivide customer groups, enhance targeted and competitiveness, constantly update products to increase competitiveness, and focus on improving the visibility of the company.
{"title":"Strategic Direction for the Development of SMEs - Based on the Successful Experience of POP MART","authors":"Ruiyuan Qi","doi":"10.2991/assehr.k.211209.448","DOIUrl":"https://doi.org/10.2991/assehr.k.211209.448","url":null,"abstract":"At present, the lifestyle toy industry has shown great development potential in both domestic and international markets. With the introduction of blind box products into China, the market of blind box products in China has rapidly grown to a ten million market. Since its establishment 11 years ago, POP MART has transformed itself from a small toy collection store to an IP brand that mainly develops its own products. With the concept of \"blind box\", POP MART has become the most famous toy company in China. The emergence of POP MART satisfies the young generation's exploration of the unknown and love of art. It weakens the distance of \"art\" and pulls it into the life of the younger generation. POPMART's blind box products will also give more anxious young people a mind to relax. Thus, this article aims to analyze the risks and disadvantages of small and medium-sized lifestyle toy companies based on the successful experience of POP MART in the context of the growing lifestyle toy market, to put forward suggestions for the development of small and medium-sized toy companies. Besides, SWOT model is used to analyze the strengths, weaknesses, opportunity, threats of SMEs in lifestyle toy industry. Finally, it concludes that the emergence of the blind box and the gradual transformation of its business model are the keys to POP MART's success. In addition, SMEs in the lifestyle toy industry have problems such as low profit, financing difficulties, insufficient research and innovation ability, great competitive pressure, increased cost, and brain drain, and there are also opportunities for them to learn from experience, facilitate talent discovery, government policy support and excellent economic environment. Therefore, lifestyle toy SMEs should pay attention to increase the company's innovation capacity, subdivide customer groups, enhance targeted and competitiveness, constantly update products to increase competitiveness, and focus on improving the visibility of the company.","PeriodicalId":322864,"journal":{"name":"Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128006920","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}
Pub Date : 1900-01-01DOI: 10.2991/assehr.k.211209.307
Xingcai Yao, Haiwen Wu, Boyan Shang
The Consumer Voucher Scheme (CVS) is an unprecedented policy in Hong Kong that is implemented to aid the economy’s recovery from the Covid-19 pandemic. The CVS’s effectiveness is debatable in terms of its cost benefits analysis, since it accounts for a sizable budget in the sake of boosting consumption and therefore accelerating economy recovery. The method of research is based heavily on government official websites and news reports, which provides the most authoritative information on the policy. This paper critically evaluates the pros and the cons of CVS, and the final judgement was that the scheme can be an effective policy to stimulate local consumption, rescue retail and catering industries and improve people’s living standards in the short-term, but the long-term effect of this policy remains to be seen.
{"title":"The Hong Kong Consumer Voucher Scheme Attempts to Rehabilitate the Economy from the Shock of Covid-19 Pandemic","authors":"Xingcai Yao, Haiwen Wu, Boyan Shang","doi":"10.2991/assehr.k.211209.307","DOIUrl":"https://doi.org/10.2991/assehr.k.211209.307","url":null,"abstract":"The Consumer Voucher Scheme (CVS) is an unprecedented policy in Hong Kong that is implemented to aid the economy’s recovery from the Covid-19 pandemic. The CVS’s effectiveness is debatable in terms of its cost benefits analysis, since it accounts for a sizable budget in the sake of boosting consumption and therefore accelerating economy recovery. The method of research is based heavily on government official websites and news reports, which provides the most authoritative information on the policy. This paper critically evaluates the pros and the cons of CVS, and the final judgement was that the scheme can be an effective policy to stimulate local consumption, rescue retail and catering industries and improve people’s living standards in the short-term, but the long-term effect of this policy remains to be seen.","PeriodicalId":322864,"journal":{"name":"Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122215851","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}
Pub Date : 1900-01-01DOI: 10.2991/assehr.k.211209.519
Bohan Sun, Cindy Ma, W. Sun, Y. Zhai
On April 20, U.S. time, the price of the West Texas Intermediate (WTI) crude oil May 2020 futures contract fell to a negative approximately $38, which caused the Bank of China (BOC) and the buyers of the Crude Oil Treasure a considerable loss. To avoid the incident in the future, this paper will focus on the mistakes of BOC and give our suggestions to Chinese banks. This paper uses specific data from BOC's announcements, Wind, and BEA database, and compares with other Chinese banks that avoided this disaster. We hope to impact the future development of Chinese banks and other institutions. We suggest new regulation and operations systems.
{"title":"Analysis from The Bank of China on The Crude Oil Treasure Incident","authors":"Bohan Sun, Cindy Ma, W. Sun, Y. Zhai","doi":"10.2991/assehr.k.211209.519","DOIUrl":"https://doi.org/10.2991/assehr.k.211209.519","url":null,"abstract":"On April 20, U.S. time, the price of the West Texas Intermediate (WTI) crude oil May 2020 futures contract fell to a negative approximately $38, which caused the Bank of China (BOC) and the buyers of the Crude Oil Treasure a considerable loss. To avoid the incident in the future, this paper will focus on the mistakes of BOC and give our suggestions to Chinese banks. This paper uses specific data from BOC's announcements, Wind, and BEA database, and compares with other Chinese banks that avoided this disaster. We hope to impact the future development of Chinese banks and other institutions. We suggest new regulation and operations systems.","PeriodicalId":322864,"journal":{"name":"Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122243920","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}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：