Vol 9, No 2 (Published)

Full Issue

  • Open Access

    Original Research Articles

    Article ID: 855

    Analysis of the Current Situation of Asset Securitization of State-Owned Enterprises in China

    by Mingming Yang

    Financial Forum, Vol.9, No.2, pp. 9(2), 48-51; , 2020; 460 Views, 6 PDF Downloads

    With the rapid development and progress of China's economy, state-owned enterprises have also carried out reforms. As an important part of the reform, securitization has promoted the reform of state-owned enterprises. Securitization will issue private securities backed by financial or other assets with poor liquidity, and pay principal and interest based on predictable and continuous cash flow income. The issuer purchases assets, forms an asset pool and issues asset-backed securities. This paper focuses on the achievements of the reform of state-owned enterprises in China, indicates the problems and puts forward improvement suggestions in the process of securitization reform.

  • Open Access

    Original Research Articles

    Article ID: 858

    Research on Expected Return Based on Time Series Model: Taking Kweichow Moutai Co., Ltd. as an Example

    by Wennuan Fang

    Financial Forum, Vol.9, No.2, pp. 9(2), 52-57; , 2020; 232 Views, 7 PDF Downloads

    With the stable development of China's economy, the economic activities among enterprises are more diversified, and the enterprise value evaluation index system is more perfect. As an important parameter in the enterprise value evaluation index, the expected income can be used to measure the profit quality of the enterprise. In order to explore the expected return of enterprises, this paper selects free cash flow as the specific index, and takes Kweichow moutai Co., Ltd. as an example, analyzes the earnings trend of enterprises through the method of time series. Time series prediction models are constructed to provide the basis for enterprise value evaluation. At the same time, by fitting single linear regression model and Autoregressive Integrated Moving Average model, the free cash flow is predicted, and finally the ARIMA (1,2,2) model is obtained. The results show that the single linear regression model has a higher error rate, while ARIMA (1,2,2) has a better fitting degree and a lower error rate. It can be used for the results of expected earnings of enterprises and provides a reference for enterprise value evaluation.

  • Open Access

    Original Research Articles

    Article ID: 865

    Analysis of the Factors Affecting the Payment Collection of Private Enterprises

    by Ying Kong

    Financial Forum, Vol.9, No.2, pp. 9(2), 58-61; , 2020; 233 Views, 3 PDF Downloads

    Payment collection is not only a form of capital flow, but also a business model in sales. Some enterprises are selling goods but not immediately settle accounts; they allow customer write IOUs and later pay regularly. Does the customer actually pay on a regular? As it turns out, only a small percentage of customers can make regular payments. It is a difficult problem that many private enterprises do not want to face but have to face. The problem of payment collection directly affects the capital flow and turnover of enterprises, and even leads to the paralysis of enterprises. It is of great significance to analyze the factors affecting the payment collection of private enterprises. This paper first analyzes the current situation of the payment collection and the factors affecting the payment collection, and finally gives the countermeasures [1] .

  • Open Access

    Original Research Articles

    Article ID: 866

    Assets Evaluation and Analysis of Specific Approaches in Enterprise Mergers and Acquisitions

    by Yuhao Feng

    Financial Forum, Vol.9, No.2, pp. 9(2), 62-65; , 2020; 494 Views, 3 PDF Downloads

    There will be many asset appraisal problems and related professional issues involved in enterprises mergers and acquisitions. An asset appraisal method occupies an important position in the purpose of asset evaluation, and therefore a reasonable approach can ensure the assessment results to the greatest extent. This article mainly introduces and summarizes the evaluation approaches that are frequently used in mergers and reorganizations [1] .

  • Open Access

    Original Research Articles

    Article ID: 867

    An Analysis of the Opportunities and Challenges of Internet Finance in the New Normal of Economy

    by Hunyuan Gao

    Financial Forum, Vol.9, No.2, pp. 9(2), 66-70; , 2020; 283 Views, 3 PDF Downloads

    The vigorous development of Internet finance is very important for the sustainable development of China's economy. In recent years, Chinese government has vigorously supported the development of enterprises, and issued a series of policies related to finance, tax and financing guarantee support. For enterprises, this is not sufficient. In addition to the support of external policies, enterprises need more self-examination. The financial management system of many enterprises is not perfect and the quality of financial management is low, which will have a negative impact on the operation and management of enterprises and can not effectively guarantee the quality of financial information of enterprises.

  • Open Access

    Original Research Articles

    Article ID: 874

    Loss Aversion: Will It Be Greater than the Gain?

    by Hongren Zhao

    Financial Forum, Vol.9, No.2, pp. 9(2), 71-76; , 2020; 159 Views, 8 PDF Downloads, 0 revised version Downloads

    Loss aversion is one of the most widely accepted ideas in social science, that is, the loss is greater than the gain. This paper is divided into four parts. First of all, the construction of loss aversion is introduced and discussed. The second part is about the evidence that supports loss aversion. As a result, the current evidence does not support losses, which are generally more influential than gains. The third part is to solve the following questions: despite the evidence to the contrary, why aversion is still generally accepted as a general principle among social scientists, including consumer psychologists. The aim of the analysis is to link beliefs about loss aversion to more general concepts, such as acceptance and adherence to scientific beliefs. In the last part, how to understand the relative impact of loss and income from the context, and how to broaden the new field of investigation in the field of consumer psychology are discussed.

  • Open Access

    Original Research Articles

    Article ID: 713

    Dividend Policy, Personal Taxes and Optimal Capital Structure

    by Sheen Liu, Yan Alice Xie

    Financial Forum, Vol.9, No.2, pp. 9(2), 77-86; , 2020; 185 Views, 8 PDF Downloads

    This paper puts forward a capital structure model that incorporates the impacts of dividend policy and personal taxes that are commonly ignored by the existing capital structure models. The results show that paying dividends can reduce the tax benefits from issuing debts, which explains why existing capital structure models commonly overestimate leverage ratios. The results further show that as dividend payout increases, leverage ratios and credit spreads increase too. By incorporating the impacts of dividend policy and personal taxes, the capital structure model established in this paper can generate wide range of leverage ratios and credit spreads, which are consistent with what are observed in the real world.

  • Open Access

    Original Research Articles

    Article ID: 876

    Suggestions to Alleviate the Financing Risks of Family Farmers: Based on the Investigation Report of Pig Farmers in Jiulongshan Town, Kaizhou District, Chongqing

    by Xin Gao, Hong Chen, Yuyi Chen, Yuyang Feng, Zixuan Cai, Hong Cheng

    Financial Forum, Vol.9, No.2, pp. 9(2), 87-91; , 2020; 201 Views, 8 PDF Downloads

    In 2013, the Central Document No. 1 first proposed the concept of "family farm". As an important part of rural economic development, family farms have increasingly significant financing risks. The No. 1 document of the 19th National Congress of the Communist Party of China in 2018 proposed a strategy to overcome poverty and achieve rural revitalization. Therefore, it is of great value and significance to study the financing risks of family farmers and explore solutions. This article is based on an in-depth investigation and analysis of the farm development status, land circulation, and mortgage financing of family farm land contract management rights in Jiulongshan Town, Kaizhou District, Chongqing. In addition, it also investigates the implementation and publicity of the financial support policies of rural commercial banks, the Agricultural Bank of China, the Industrial and Commercial Bank of China, and the Postal Savings Bank on family farmer financing. Finally, the existing problems are analyzed and relevant policy suggestions are put forward.

  • Open Access

    Original Research Articles

    Article ID: 877

    Research on the Development of Online Paid Q & A Platform from the Perspective of Perceived Value

    by Yihao Zhang

    Financial Forum, Vol.9, No.2, pp. 9(2), 92-95; , 2020; 214 Views, 5 PDF Downloads

    After the rise of online paid Q & A platform in 2016, the development of online paid Q & A platform has become a bottleneck. In order to promote the development of online paid Q & A platform, the bottleneck of paid Q & A platform is analyzed from the perspective of perceived value. The perceived value is enhanced by the technical characteristics of the perceived cost and the usefulness and entertainment of the perceived benefit. Research shows that perceived value can enhance the development of online paid Q & A platforms. On this basis, this paper puts forward some relevant countermeasures for the development of online payment Q & A platform.

  • Open Access

    Original Research Articles

    Article ID: 878

    Analysis on the Feasibility of China's "Vendor Economy" under the New Economic Condition

    by Qing Sun

    Financial Forum, Vol.9, No.2, pp. 9(2), 96-98; , 2020; 150 Views, 7 PDF Downloads

    Vendor economy, also called street economy, which is often considered as the main income sources for street vendors and was regarded as marginal economy, has grown into a type of economic form. From the perspective of total social wealth, it jump-starts the economy, stimulates people's consumption desire and provides more employment opportunities, which drives a sharp increase in social total consumption, according to a research report analyzed from 2007 to 2017 by the Northeast Securities. During the ten years, China's economic policy is to encourage and support street vendors, and because of this, consumption plates are shown in a more obvious rise in profits, but it also has brought about some negative effects. On the basis of the characteristics and roles of the vendor economy, this paper analyzes its feasibility under the new economic condition through the comparison of its advantages and disadvantages. In addition, some suggestions are put forward to Chinese government and the street vendors.

  • Open Access

    Original Research Articles

    Article ID: 884

    Research on the Performance Evaluation of China's Financial Science and Technology Expenditure under the Background of Innovation Driven

    by Qingyan Pan

    Financial Forum, Vol.9, No.2, pp. 9(2), 99-104; , 2020; 199 Views, 8 PDF Downloads

    Under the background of innovation driven development strategy, China proposes to build an innovative country and attach great importance to the effect of technological innovation. Due to the special role of financial science and technology expenditure in innovation, this paper focuses on analyzing the benefits of financial science and technology expenditure in innovation and construction. In addition, a unified performance evaluation system of financial science and technology expenditure have been established, which provides the analytic hierarchy process for the benefit evaluation of financial science and technology expenditure. Finally, combined with the existing problems of financial science and technology expenditure, some targeted development suggestions have been put forward.

  • Open Access

    Original Research Articles

    Article ID: 887

    Using Qi Culture to Promote Regional Economic Development

    by Xiaoying Cai

    Financial Forum, Vol.9, No.2, pp. 9(2), 105-108; , 2020; 193 Views, 2 PDF Downloads

    Qi culture is the main source of Chinese national culture, with profound cultural connotation and rich cultural atmosphere. With the continuous deepening of economic development, the development of regional cultural values has also become the main content of regional economic and social construction. This article discusses the causes of regional culture and summarizes the strategies for using Qi culture to promote regional economic development.

  • Open Access

    Original Research Articles

    Article ID: 888

    Development Strategy of the Clothing Marketing in China from the Perspective of Network Marketing

    by Chengxi Wang

    Financial Forum, Vol.9, No.2, pp. 9(2), 109-112; , 2020; 933 Views, 9 PDF Downloads

    Network marketing is a new thing for adapting to the development of network technology and the social change in the era of information network. The progress of science and technology, the change of consumer concept and the aggravation of business competition promote its emergence and development. As a new marketing method, network marketing will inevitably greatly affect the sales of clothing enterprises. Based on the connotation and characteristics of network marketing, this paper first expounds the main direction of clothing network marketing development, then constructs a multi-network marketing system from the aspects of product quality, brand construction, user tendency, real-time interaction, online and offline, and finally improves the network marketing system. It is expected to provide the corresponding references for the innovation of China's clothing marketing work under the background of Internet.

  • Open Access

    Original Research Articles

    Article ID: 889

    Analysis on Evaluation of Economic Vitality of Some Cities in China Based on Principal Component Analysis

    by Xuming Li, Teng Pu, Jing Huang, Xiaoyuan Li

    Financial Forum, Vol.9, No.2, pp. 9(2), 113-117; , 2020; 198 Views, 4 PDF Downloads

    Through the research on the development indicators of major cities in China, this paper analyzes the development factors and achievements as the basis of data analysis, tries to rank some cities in China for economic vitality, and finds out the relevant factors that can promote the development of urban economy, and provides a reference for the government to formulate policies.

  • Open Access

    Original Research Articles

    Article ID: 891

    Analysis of the Coupling Path of Qi Culture and Regional Economy

    by Wen Li

    Financial Forum, Vol.9, No.2, pp. 9(2), 118-121; , 2020; 159 Views, 5 PDF Downloads

    At present, local culture is becoming more and more important in the developing process of national economy and society, increasing the significance of the development and reconstruction of local culture in various places as well. Local culture can promote the brand building, tourism and economic development. In the long history from the Spring and Autumn Period to the Qin and Han Dynasties and till now, Qi culture has been eclectic, becoming a symbol of Chinese culture, and forming a unique spiritual characteristic of self-improvement, kindness, virtue and wisdom. This paper analyzes the coupling path of Qi culture and regional economy.

  • Open Access

    Original Research Articles

    Article ID: 892

    The Impact of Inflation on Corporate Finance and Countermeasures

    by Yuwei Han, Hanyue Zou, Wangye Li

    Financial Forum, Vol.9, No.2, pp. 9(2), 122-125; , 2020; 258 Views, 15 PDF Downloads

    Once inflation occurs, it will have an important impact on the company's financial management. Under the circumstances of inflation, it will face low wages and rising prices, which will also affect the company's financial management. This article focuses on the analysis and discussion of the impact of inflation on corporate finance and countermeasures. First, the concept and specific situation of inflation are introduced, then the impact of inflation on the company's financial management is analyzed. Finally,effective countermeasures are put forward to do a good job in the company's financial management under inflation.

  • Open Access

    Original Research Articles

    Article ID: 897

    An Analysis of the Impact of Financial Technology on the Development of Internet Finance

    by Jiahe Liu, Shipu Huang

    Financial Forum, Vol.9, No.2, pp. 9(2), 126-128; , 2020; 332 Views, 14 PDF Downloads

    Nowadays, with the continuous development of modern technology, technologies such as blockchain, artificial intelligence and big data have promoted the rapid development and transformation of my country's traditional financial industry. From the traditional gold and silver standard and bank notes, to the rapid rise and development of electronic payment, mobile payment, digital currency and wealth management, China's Internet finance has achieved better and faster development. This article mainly studies the relative impact of fintech on the development of Internet finance, and aims to make better use of fintech for financial management, to promote the better execution efficiency of financial-related circulation, and to promote the development of China's financial industry, which is also more informatized, modernized and intelligent.

  • Open Access

    Original Research Articles

    Article ID: 898

    The Capability Improvement Strategy of Cross-border E-commerce Supply Chain Service Providers

    by Yi Xu

    Financial Forum, Vol.9, No.2, pp. 9(2), 129-132; , 2020; 200 Views, 4 PDF Downloads

    In the development process of cross-border e-commerce, cross-border e-commerce supply chain providers play an essential role. Within their business scope, they are not good at cross-border logistics, overseas warehouses, information security in supply chain and other aspects. With the support of national policies, it is possible to innovate cross-border logistics service mode, improve the development ability of overseas warehouses, establish information supply chain partnership, attract or strengthen the training of cross-border e-commerce talents, so as to improve the ability.

  • Open Access

    Original Research Articles

    Article ID: 900

    The Role of Commercial Photography in E-Commerce

    by Sijie Li

    Financial Forum, Vol.9, No.2, pp. 9(2), 133-136; , 2020; 211 Views, 12 PDF Downloads

    Photographic technology has become increasingly mature and been widely used in various of business activities. From traditional advertising photography to online store photo gallery, the value of commercial photography in the business field has gradually increasing. With the analysis of the relationship between commercial photography and e-commerce, this article introduces the development history of commercial photography, and envisages its future application in the field of e-commerce.