European Academic Journal - II CHINA

Evaluating the Predictive Power of the Energy-Related Uncertainty Index on Bitcoin Volatility

Haoran Xu — 2024-06-07

Uncertainty indices at low frequency have garnered increasing attention in financial research due to their significant impact on asset returns. This study delves into the emerging field of low-frequency uncertainty indices in financial research, focusing on the Energy-Related Uncertainty Index (EUI) and its implications for Bitcoin volatility modeling. Utilizing GARCH-MIDAS models, we compare Bitcoin's volatility under the influence of EUI against Bitcoin's realized volatility (RV), examining its predictive power across 28 countries. The results reveal two key findings: Firstly, integrating EUI into the GARCH-MIDAS model significantly enhances its capability to explain Bitcoin volatility, with the effectiveness differing across countries. EUI's impact on Bitcoin volatility is especially pronounced with approximately a one-year lag. Secondly, although there is no apparent leverage effect in Bitcoin returns, EUI exhibits an asymmetric influence on Bitcoin volatility, highlighting its essential role in volatility modeling. These findings hold significance for investors and policymakers, providing valuable insights to enhance risk management strategies in the volatile cryptocurrency markets.

Why Exxon Mobil Corporation Keeps Investing in Decarbonizing Oil Operations Rather than Trying Energy Transition?

Samuel Kwok — 2024-07-10

The aim of this case study is to compare two opposite pathways, including both decarbonization and energy transition and tries to find out the reasons why Exxon Mobil Corporation (NYSE: XOM) insists on investing in decarbonizing oil operations rather than trying energy transition from the perspective of cost-effective, and provides some new ideas and practical experience for oil companies in the choice of pathways, to accelerate countries to achieve the goal of net-zero emissions. ExxonMobil Corporation and Shell plc, two Western oil giants with branches in China, are selected as research objects. Cost-effective analysis, correlation analysis, and comparative analysis were applied to study four research objectives. The 2019.4.4 version of Tableau data analysis software is used as the data analysis tool. According to the prediction results, compared with the C/E ratio of Shell's energy transition path, ExxonMobil's C/E ratio is slightly higher. However, compared with the cost-benefit before establishing the low-carbon solution business, it is still much lower. From the perspective of correlation analysis, Pearson's correlation coefficient reaches about 0.88, which reveals a strong positive relationship between the cost and net profit from 2021 to 2027. At the same time, the P value in the linear regression curve is less than 0.05, and the value of R is greater than 0.4, showing high goodness of fit. The figures and tables will be shown in paper 4. It can be seen that the development of CCS has a good impact on the net profit of ExxonMobil Corporation. The conclusion is that ExxonMobil could consider continuing to invest in this technology.

How Can PPP-Financed Railway Infrastructure in Thailand Boost Logistics and Strengthen “the Belt and Road” Economic Integration?

Ziyue He — 2024-08-21

The purpose of this paper is to apply bibliometric analysis method to investigate how the advancing financing mode public private partnership (PPP) and its strengths will facilitate the construction of the Thai-Sino railway. As PPP is one of key components in Thai-Sino railway investment, the related policies of the two countries play significant roles during the PPP process. The authors will study what roles both government policies play in Thailand’s infrastructure construction and reveal the further impact that Thailand’s complementation of infrastructure will bring to the future development of the local logistics industry. Additionally, this paper will explore the influence that the successful open to traffic of the Thai-Sino railway will bring to Thailand’s profound economic cooperation with other economic entities in BRI regions. This paper will study how a developed logistics industry will help Thailand better integrate into the regional economic development. Finally, this paper will provide recommendations on how value added of PPP railway would help emerging economics to better integrate into BRI.

苏州市轻食市场发展现状及消费需求调查研究

陈佳凝 — 2024-07-10

党的二十大报告强调推进健康中国建设，将保障人民健康上升至战略位置。大健康理念盛行，居民消费升级，轻食逐渐成为当代人的新“食尚”，轻食市场空间及前景广阔。苏州市作为发达的新一线城市，其轻食市场的状况能很好地反映出轻食在未来中国的发展潜力。基于此，本文以苏州市居民为调研对象，研究了苏州市轻食市场现状、既有消费者与潜在消费者特征及偏好、市场发展现存问题及营销策略。通过问卷调查法、深层访谈法和模型分析法，共收集到1419份有效问卷，并通过修正的IPA法和波特五力模型进行市场表现评估。对既有消费者的分析采用K-Means聚类分析、Logistic回归模型和SEM结构方程模型；对潜在消费者的分析则采用回归的Lookalike模型、RFM模型和推广IPA分析法，结合GM(1,1)和ARIMA模型进行未来10年市场预测。通过微博平台“轻食”关键词分析和大众点评轻食消费评论内容研究，挖掘消费者关注点及市场问题，并提出层次分析与灰色关联法进行轻食商家评价。最终得出市场不断扩容、发展态势良好，消费者基础强大、受众范围广泛，内外因素联动、激发市场活力，发展弊病浮现、问题亟待解决等结论，并基于这些结论提出了明确目标市场、加强品牌建设、纵深打造品类、降低生产成本、加强风险关注及多方协作发展的策略建议。

The Role of Emerging Technologies in Modernizing the Healthcare Industry: Case Studies from China

Yao Wang — 2024-08-05

In recent decades, digital technology has undergone significant advancements, permeating various aspects of our daily lives and offering numerous conveniences and benefits. In the realm of digital health, technologies such as artificial intelligence (AI), blockchain, and 5G play crucial roles in transforming the medical care landscape. This article aims to explore the potential impact of digital technology on enhancing the medical service experience for both patients and healthcare providers, thereby improving overall service efficiency. The analysis will employ CiteSpace to examine current trends in this area. Case studies from prominent institutions including The University of Hong Kong-Shenzhen Hospital, Peking Union Medical College Hospital (PUMCH), Ruijin Hospital, Shehong First People's Hospital, and The First People's Hospital of Bijie will be used to illustrate practical applications of health technologies in tier one cities. Additionally, examples from Shehong First People's Hospital and The First People's Hospital of Bijie will highlight how digital technologies optimize healthcare delivery in tier four and five cities. Recommendations will be proposed on leveraging emerging health technologies to enhance healthcare solutions, particularly in rural settings.

Investigating Dependence Structure Among Subsectors of Technology Stocks: A Vine Copula Approach

Haoran Xu — 2024-06-11

The rising popularity of technology stocks, driven by their substantial returns, underscores the importance of comprehensively understanding the interdependencies among various technological subsectors. This research employs the vine copula model to analyze the complex interdependence among different segments of the technology industry. The results indicate that the C-vine model demonstrates superior effectiveness in capturing the dependence structures within the dataset, outperforming both the R-vine and D-vine structures. This superior performance is crucial for accurately mapping the intricate relationships that define the technology sector. Furthermore, through an exhaustive investigation of 25 specific technological subsectors, the study emphasizes the critical significance of smart grids, smart factories, robotics, and future payment systems. These findings highlight the pivotal role these subsectors play in the broader technology landscape. The enhanced understanding provided by the C-vine model offers valuable insights for investors and policymakers, aiding in the navigation of the rapidly evolving technological environment.

How Can Smart Buildings Enabled by IoT Technology Accelerate Sustainable Green City Development: Case Studies in China

Fumeng Qu — 2024-07-19

The purpose of this paper is to explore the role of Internet of Things (IoT) enabled smart buildings in accelerating sustainable green city development, especially in light of the stated targets by the Chinese government of achieving carbon peaking and carbon neutrality, which are known as dual carbon goals. This paper uses CiteSpace to make a comparative analysis of domestic and foreign literature, and finds that relatively speaking, the application of IoT in China is still in the design and construction stage of buildings, and the later operation management lacks consideration. At the same time, the individual smartness of architecture has not yet been connected to a smart ecosystem. Therefore, this paper further selects three project cases of the Beijing Winter Olympic Games project, Haier Smart Home and Xiongan New Area, corresponding to three scenarios of event venues, residences and entire communities, and puts forward suggestions on the promotion of sustainable urban development by IoT driven smart buildings.

Risk Management, Bankruptcy and Restructuring Under Unique Institutional Setting: Case Studies in China

Sihan Chen — 2024-09-13

This paper aims to examine whether and how the corporate governance practices of distressed firms are sufficient to minimise the impact of corporate failure or bankruptcy in China. This paper will explore the role of government in the development agenda of promoting effective corporate governance practices (i.e. institutions) to avoid corporate bankruptcy or failure. How do these institutions promote the protective mechanism to protect corporates’ interests in various industries? How these developments will in turn affect stakeholders in various sectors. This paper will investigate the impact of China's corporate governance practices research and institutional changes on the sustainable development of corporate solvencies. This paper will use bibliometric analysis to perform statistical and correlation analysis on the relevant literature. Cases from China will be used for comparison. This paper will provide recommendations for emerging economies to develop ecosystems based on good corporate governance practices.

Unraveling Financial Interconnections: A Methodical Investigation into the Application of Copula Theory in Modeling Asset Dependence

Haoran Xu — 2024-05-31

Copula theory, a branch of statistics and probability theory, focuses on characterizing and modeling the dependency structures between random variables. Within finance, copulas offer a versatile framework crucial for tasks like risk management, portfolio optimization, and derivative pricing. Despite its importance, applying copula theory in finance can be challenging due to its complexity and the unique features of financial time-series data. This method review explores the utilization of copula theory in modeling dependency among financial assets. It examines copula theory fundamentals, various modeling techniques, empirical applications in finance, future directions, and practical implementation. By synthesizing existing literature, this review aims to shed light on the strengths, limitations, and practical considerations of copula-based modeling within the finance domain.

Deployment of Blockchain Technology on the Banking Industry in China: A Policy Review Study

Samuel Kwok — 2024-07-10

This paper focuses on exploring the development of BC in the banking industry in China. Due to the Great Firewall and policy factors, the development of blockchain in China has not been synchronous with the rest of the world. However, China has been gradually researching the application of blockchain in the banking sector. To investigate the factors that have led to a faster pace of development in blockchain in the banking industry in the past five years, this paper employs the methods of policy review and case study. The analysis findings indicate that blockchain in the banking industry in China is currently primarily applied in six major modules: supply chain financing, cross-border financing, cross-border settlement, identity verification (KYC), fraud prevention and security, and digital currency. The driving factors behind the development of blockchain in the Chinese banking industry are mainly twofold: the encouragement and guidance of government policies and meeting the needs of the banking business model to enhance the quality of its assets and maintain social productivity.

文化遗产与经济社会发展：全球文献计量研究及其对“三山五园”保护的启示

夏雨彤 — 2024-08-12

本文利用CiteSpace进行了全面的文献计量研究，以探索全球范围内文化遗产与社会经济发展之间的复杂关系。该研究深入探讨了文化遗产作为公共产品的概念化、其在促进文化多样性方面的作用及其对文化可持续性的贡献。该分析揭示了学术话语中的关键主题、趋势和模式，为文化遗产对经济活力和社会福祉的多方面影响提供了宏观视角。该研究专门调查了文化遗产在遗产旅游、文化传播和公共文化服务中的作用，研究了这些元素如何相互联系，以创造一个支持可持续发展的充满活力的文化生态系统。通过利用CiteSpace的可视化功能，该研究确定了该领域的知识热点和知识差距，为与文化遗产相关的研究和政策的演变提供了独特的视角。此外，本文还探讨了这些全球趋势对中国重要文化遗产“三山五园”保护工作的影响。该案例研究应用从文献计量分析中获得的见解，为文化资源管理和公众参与提出有针对性的策略，这些策略适合该遗产地的独特特征和需求。这项研究的结果有助于更深入地了解文化遗产与社会经济因素之间的动态相互作用。它们还为政策制定者、文化遗产管理者和参与保护和促进文化遗产地的利益攸关方提供了可操作的建议，强调了将全球知识与当地实践相结合的重要性，以实现有效的遗产保护和可持续发展。

How IoT-Enabled New Energy Vehicles Enhance Sustainable Intelligent Transportation Systems in Smart Cities Under Unique Institutional Settings? Case Studies of China

Haoran Xu — 2024-06-17

The purpose of this paper is to study how government policies influence the advancement of IoT-enabled new energy vehicles (NEVs) in the context of sustainable intelligent transportation systems (ITS) in smart cities. As a crucial component of a smart city, the intelligent transportation system is the core of the development of urban transportation, whereas new energy vehicles comprise a critical element in ITS. Additionally, IoT is transforming vehicles with intelligence. Consequently, this paper starts with a bibliometric analysis to uncover hot spots to better comprehend China’s NEV industry. Further, this paper also examines the applications of IoT in NEVs and the current scenario of new energy vehicles in China by investigating multiple policies proposed by the government. Finally, the case of Guangdong province will be utilized as an illustration to promote IoT integration in the development of NEVs.

Mapping Climate Risk: A Comparative Bibliometric Analysis of Transition and Physical Risks in the EU and China Using CiteSpace

Jianing Chen — 2024-08-04

This study conducts a comparative analysis of climate risks in the European Union and China using the bibliometric tool CiteSpace. It focuses on two primary types of climate risks: transition risks and physical risks. The research uses data from the Web of Science core database, analyzing keyword co-occurrence in climate risk literature from 1998 to 2024. The study reveals a general upward trend in climate risk publications, with distinct thematic focuses in the EU and China. The EU’s research emphasizes policy frameworks, renewable energy adoption, and urban resilience, reflecting a holistic approach to climate adaptation. Conversely, China’s research highlights technological solutions, public health, and energy security, showcasing a pragmatic approach. The study identifies key research hotspots and future directions of climate risk studies, offering insights for investors, policymakers, and stakeholders to develop effective climate strategies tailored to regional contexts.