Vol 9, No 4 (Published)
Full Issue
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Open AccessOriginal Research Articles
Article ID: 1360
Solution to the “Trust†Gap of Cross-Border E-Commerce under Blockchain Technologyby Wenyun Tang
Financial Forum, Vol.9, No.4, 2020; 193 Views, 7 PDF Downloads
With the promotion of 5G technology, my China’s cross-border e-commerce has developed rapidly, and while achieving outstanding results, some shortcomings have also emerged one by one. As cross-border e-commerce involves more regions, links, and legal scopes, there are problems of security and “trust†gaps in actual operations. In response to this problem, connected with current reality and provide new ideas for the practical dilemma of blockchain technology application, this paper studies the ice-breaking mechanism of the current dilemma faced by cross-border e-commerce by using blockchain technology.
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Open Access
Original Research Articles
Article ID: 1361
The Impact of Blockchain on the Economic Development of Zhoushan Island Homestay and Its Prospectby Yingyan Xu
Financial Forum, Vol.9, No.4, 2020; 141 Views, 12 PDF Downloads
Since the 20th century, Zhoushan Island has gradually become a powerful country in terms of the location of the island and the development of its ocean tourism industry. However, there are some problems in Zhoushan’s B & B industry, which is still in the initial stage of development. “Blockchain + B & B†takes advantage of blockchain to further enhance the economic vitality of Zhoushan B & B. Of course, there are also deficiencies in the development of blockchain, which should be used reasonably.
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Open Access
Original Research Articles
Article ID: 1443
Analysis on Innovative Development Countermeasures of Commercial Banks in Internet Finance Ageby Aoyu Li, Zeyu Li, Xiang Chen, Shirui Zhang, Wenhui Wu
Financial Forum, Vol.9, No.4, 2021; 347 Views, 10 PDF Downloads
In the era of Internet finance, commercial banks must follow the characteristics of information technology development, create a new development model and coping strategies. Only in this way can commercial banks always occupy the dominant position of market economy to ensure that China’s economy is always in rapid development. Under the rapid development of third-party payment and Internet big data payment credit, the traditional commercial banking business has been greatly restricted. The traditional bank development model can no longer meet the needs of small and medium-sized enterprises and people. Compared with the traditional commercial banks, the Internet payment software headed by Alipay must persist in reform and innovation and take the advantages of Internet technology in the face of the challenges of private Internet finance. It is necessary for them to complete the transformation between traditional commercial banks and Internet commercial banks.
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Open Access
Original Research Articles
Article ID: 1446
Analysis on the Relationship between Accounting and Economic Benefits under the New Normalby Jialin Zhao, Hong Zhang, Qiong Li
Financial Forum, Vol.9, No.4, 2021; 122 Views, 13 PDF Downloads
The new normal economy is the transformation of economic paradigm, economic development mode and economic growth mode. Exploring the relationship between accounting and economic efficiency under the background of the new normal promotes the improvement of the core competitiveness of enterprises, the improvement of core competitiveness of national economy, and the promotion of healthy and sustainable development. The article first briefly introduces the relationship between accounting and economic benefits under the new normal. Since the relationship between the two describes the interaction between accounting and economic benefits, we hope these views can effectively promote the healthy development of social economics.
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Open Access
Original Research Articles
Article ID: 1450
The Impact of Interest Rate Marketization on Commercial Banksby Yulin He
Financial Forum, Vol.9, No.4, 2021; 295 Views, 13 PDF Downloads
Interest rate marketization means that the interest rate level of financial institutions operating and financing in the money market is determined by market supply and demand. It includes interest rate determination, interest rate transmission, interest rate structure and marketization of interest rate management. At present, there are still many deficiencies and defects in the traditional interest rate management system. The reform of interest rate marketization is the focus of China’s financial system reform. Therefore, we should not only be brave in innovation, but also carefully study and analyze. In the analysis process, this paper focuses on the impact of interest rate marketization on commercial banks, and puts forward some countermeasures.
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Open Access
Original Research Articles
Article ID: 1530
Coal Price Forecast Based on ARIMA Modelby Xiaofan Zhang, Chao Liu, Yuhang Qian
Financial Forum, Vol.9, No.4, 2021; 172 Views, 13 PDF Downloads
This paper analyzes and determines the decision variables and constraints, establishes the EECM-ARAMA model to analyze and research coal price forecasts. Firstly, we first confirm the influencing factors. Then, we conduct correlation coefficient tests on price and various factors, and get the strength of the correlation between each factor and price. The second is to establish a coal price prediction model. Firstly, we use the EEMD method to transform the original price series into a stable time series, and then formulate three ARIMA models by comparing the size of the influencing factors and the parameter estimation results. After testing, we finally choose the ARIMA 03 model to predict the next 31 days, 35 Weekly and 36-month coal prices. Finally, we combine the models and ideas of the above issues to obtain factors that affect coal price changes and related price prediction models, and combine experience to give some feasible policy recommendations.
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Open Access
Original Research Articles
Article ID: 1531
Analysis of the Mask Price Change from the Perspective of Economicsby Changyuan Lu, Hexiang Zhu, Yuan Yao, Xueyu Nian, Xiyuan Fan
Financial Forum, Vol.9, No.4, 2021; 238 Views, 11 PDF Downloads
Since the outbreak of the new type of outbreak, the demand for masks has increased in a straight line and there is a situation of oversupply, mask prices once hit a record high, many businesses began to switch to masks. But since late May, the new crown outbreak has been largely under control and mask prices have fallen. Now analyze the trend and internal laws of mask prices during the epidemic from an economic perspective.
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Open Access
Original Research Articles
Article ID: 1533
Analysis of the Current Situation of Supply Chain Finance and Risk Control—Based on the Perspective of Commercial Banksby Danting Zheng
Financial Forum, Vol.9, No.4, 2021; 125 Views, 6 PDF Downloads
China’s economic policy system has been greatly adjusted up till the present moment. The scale of small and medium-sized enterprises mortgage lending is limited, but the demand for funds is increasing, and the need for core enterprises to grow and develop is increasing, supply chain finance effectively solved the needs of the above enterprises. Supply chain finance promotes the development of trade and commerce business, reduces financing risk, become a new business of commercial banks. Compared to traditional banking business, it reduces certain credit risk and improves the utility of funds, but China’s supply chain financial system is not perfect enough, with a certain degree of system operation risk. Focus on the analysis of supply chain finance status quo, analyze China’s supply chain development status and prospects, assess and analyze the risk, and do a good job of risk prevention and control. As an important part of the supply chain, commercial banks are necessary to pay attention to various risk points to the supply chain of the financing subject. Avoiding and reducing the risk of supply chain finance business are the top priority issues required to be solved for commercial banks.
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Open Access
Original Research Articles
Article ID: 1532
Research on the Time-Varying Characteristics of China’s Financial Cycle Volatility and Its Macroeconomic Effectsby Silin Tao, Xiaoyu Du, Juan Cheng, Yixin Chen
Financial Forum, Vol.9, No.4, 2021; 134 Views, 10 PDF Downloads
Based on China’s financial cycle fluctuations, this paper first analyzes the characteristics of financial structure in the process of financial cycle fluctuations, further explains the relationship between the time-varying characteristics of macroeconomic effects and financial cycle fluctuations, and finally summarizes the dynamic characteristics of time-varying characteristics of macroeconomic effects, hoping that this paper can provide constructive suggestions for relevant fields.
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Open Access
Original Research Articles
Article ID: 1535
Design Three Trading Strategies Based on Overconfidence, Loss Aversion, and Herd Behaviourby Tzuling Liu
Financial Forum, Vol.9, No.4, 2021; 123 Views, 8 PDF Downloads
There is a basic assumption in the field of economics, which is people are rational. It might be taught in the first class of the principle of economics. However, this assumption could hardly be applied to the real world since people can be affected easily sometimes, especially when they cope with their assets. Thus, with combination of psychology and academic finance, behavioural finance aims to understand the effects influencing investors’ decision-making. This paper will discuss some effects which can be commonly seen in the real world, overconfidence, loss aversion, and herd behaviour included.
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Open Access
Original Research Articles
Article ID: 1537
An Empirical Study on the Profitability of Chinese Commercial Banks — Based on Factor Analysisby Yujun Hu
Financial Forum, Vol.9, No.4, 2021; 185 Views, 7 PDF Downloads
The supporting role of financial development on the real economy is unquestionable. How to improve the profitability of commercial banks, allocate more resources efficiently and quickly to the key links of development, and urge financial institutions to better serve the real economy, is our breakthrough in economic development bottlenecks important node. Based on the data of 16 listed commercial banks in 2018, this paper uses factor analysis to calculate the profitability scores of each bank, discusses how commercial banks can better serve the real economy, and proposes corresponding policy recommendations.
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Open Access
Original Research Articles
Article ID: 1538
A Study of the Causes of Price Fluctuation in Apple Commodity and Consumer Shopping Behavior Based on Taste, Preferences, and Willingness to Payby Shiyuan Huang, Rubal Mistry
Financial Forum, Vol.9, No.4, 2021; 126 Views, 11 PDF Downloads
The profit margin on the retailer’s side is thin, so increasing the consumer’s willingness to pay is crucial for the supply side to earn more profit. In this paper, the authors develop a taste test to see if consumers’ preference for organic and local apples can alter their taste perception for the same apple. The result showed consumer’s preference does change his/her taste preference on the same apple. Besides the experiment, the authors also design a survey to know the consumer’s shopping preferences and the exact willingness to pay. The survey results show that consumers are in support of Local Apples as compared to Organic Apples but are willing to pay more for Organic Apples than Local Apples. Another conclusion that can be drawn is that this survey indicates that there is a huge profit margin for retailers as consumers are willing to pay more for organic apples than the average market price for the apples.
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Open Access
Original Research Articles
Article ID: 1542
Analysis on the Construction of Financial Computerizing and Fintech Managementby Yanli Xi
Financial Forum, Vol.9, No.4, 2021; 99 Views, 7 PDF Downloads
With the continuous development of China’s economy, the development of financial industry is getting faster and faster. The construction of financial computerizing is an inevitable trend of financial development, arousing widespread concern from society. This article explores and analyzes the effective development strategies of constructing financial computerizing and fintech management, aiming to provide some experience and reference for the development of financial computerizing in China.
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Open Access
Original Research Articles
Article ID: 1544
Research on Standardization Strategy of Economic Management Mode of Modern Enterprisesby Ying Lin, Chenqi Wei, Xinyu Liu, Yang Cao, Xiaowen Min
Financial Forum, Vol.9, No.4, 2021; 131 Views, 13 PDF Downloads
In the process of enterprise development, the application of economic management activities will directly affect the development level of enterprises, so it is necessary to increase the standardization of its management mode. Especially under the background of fierce market competition, it is necessary to continuously strengthen the advantages and characteristics of enterprises in the economic management mode so as to better cope with various economic challenges. This paper discusses the importance of enterprise economic management innovation. This paper analyzes the problems existing in the current economic management mode, and puts forward relevant standardization strategies, hoping to effectively improve the economic management level of modern enterprises, make their various economic management activities more standardized and scientific, and truly play an important role in the development of market economy.
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Open Access
Original Research Articles
Article ID: 1545
On Financial Complexity and Market Modeling Methodby Xichen Zhang
Financial Forum, Vol.9, No.4, 2021; 175 Views, 9 PDF Downloads
The financial market is often the core content of the economic environment for a country. Whether it can take appropriate measures to maintain the stability of operation process of financial market and carry out effective risk management has always been one of the key research tasks costing a lot of energy of the central government and its financial departments. Taking China as an example, the financial market itself is characterized by strong complexity, and all factors are closely related. Moreover, as the whole system is too large, it is difficult to sort out the inducement and occurrence of a certain result. While the information means such as big data is gradually entering people’s field of vision, national development and social progress are both related to the financial market. Facing financial complexity, China needs to face up to its existence more actively and implement corresponding solutions. In this article, the complexity of financial market will be analyzed systematically, and the common methods of market modeling will be expounded, aiming to provide some theoretical reference for the employees in related industries.
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Open Access
Original Research Articles
Article ID: 1548
The Problems and Countermeasures of Financial Management of Chinese Enterprises in the Construction of “One Belt One Roadâ€by Yue Pang
Financial Forum, Vol.9, No.4, 2021; 188 Views, 10 PDF Downloads
At present, many experts and scholars in my country have devoted themselves to the discussion of the problems and solutions of small and medium-sized enterprises under the background of “One Belt One Roadâ€, to provide theoretical guidance for the development of enterprises, but due to the country’s management policies and laws and regulations for SMEs, there are still deficiencies. With the emergence of internal management factors of enterprises, a large number of loopholes and problems have appeared in the financial management system of SMEs. In order to effectively improve these problems, this article focuses on analyzing the current situation of SME financial management, exploring its existing problems and combine scientific financial theory and practical results and the enterprise’s own reform plan and the support of relevant national government policies which enable SMEs to seize development opportunities with the support of the government, optimize the internal management policy of the enterprise, establish and improve the financial management mechanism, and pave the way for the stable development of the enterprise.
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Open Access
Original Research Articles
Article ID: 1553
Challenges and Opportunities in the Application of China’s Central Bank Digital Currency to the Payment and Settle Account Systemby Zhe Xu, Chang Tang
Financial Forum, Vol.9, No.4, 2021; 248 Views, 18 PDF Downloads
With the advancement of the Internet and big data technology, currency has gradually developed in the direction of virtualization and digitization. The governments and central banks of various countries have gradually begun to pay attention to the role of digital currencies, and central bank digital currencies have emerged as the times require. As one of the first countries to study digital currency, China will devote itself to applying central bank digital currency to actual transactions in the future. This article focuses on how China’s CBDC is used in the transaction settlement system. The opportunity is that the central bank’s digital currency technology improves the security, flexible operation and diversified application scenarios of the overall transaction settlement system, and further safeguards China’s national financial sovereignty. The challenge is that the current technology is still uncertain and different from the traditional RMB. In the future, China’s CBDC will also compete fiercely with other sovereign currencies. It is recommended to strengthen technological innovation, improve the relevant systems and regulations of the central bank’s digital currency operation, and make relevant policies to prevent the United States from imposing political and economic sanctions on China. This article will provide suggestions on the challenges that the People’s Bank of China may face in the future application of digital currency to the transaction settlement system.
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Open Access
Original Research Articles
Article ID: 1554
Machine Learning Applied in the Financial Industryby Yuntao Sun
Financial Forum, Vol.9, No.4, 2021; 164 Views, 30 PDF Downloads
Technological development provides industries and spheres with numerous benefits, particularly availability of new progressive methods that contribute to increase efficiency and enhance performance. Thus, machine learning methods may contribute to financial industry that is involved in processing of a large volume of data. Machine learning methods facilitate to process data faster and efficiently with the minimal intervention of humans. In addition, it helps to predict possible risks for financial business and minimize risks related to the fraudulent activity or financial losses. Furthermore, application of machine learning methods contributes to enhance the work with clients and targeted groups, as well as provide them with appropriate services. The major risks of machine learning methods applications within the financial sphere relate to unpredictability and cyber security issues.
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Open Access
Original Research Articles
Article ID: 1539
How Did COVID-19 Affect the Chinese Real Estate Stock Market: An Empirical Researchby Lei Hsu
Financial Forum, Vol.9, No.4, 2021; 235 Views, 5 PDF Downloads
COVID-19 has brought disruptions to various industries in China. The real estate industry can’t remain immune from the shock as well, which can be presented by the performance of real estate stocks. This study investigates the effects of COVID-19 on the Chinese real estate stocks. Statistical methods, such as OLS regression, are used to explore the effects of new cases, new deaths, new recoveries, bad and good news about COVID-19 of provinces where the headquarters of the sample companies lie on the daily stock returns as well as the changes of volatilities before and after COVID-19. Event study is employed to discover the effects of important events during COVID-19. Results suggest that positive information about COVID-19 significantly increased daily stock returns of the listed real estate company in that province. Total risk and idiosyncratic risk of real estate stocks have increased significantly since COVID-19, while systematic risk has decreased significantly. Among the crucial events during the pandemic, the lockdown of Wuhan significantly caused negative abnormal returns for real estate stocks.
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Open Access
Original Research Articles
Article ID: 1543
What Do the Two Global Crises Tell us: History as a Mirrorby Banghao Ling
Financial Forum, Vol.9, No.4, 2021; 79 Views, 9 PDF Downloads
History typically does repeat with similar processes. Routes to both The Great Depression in 1929 and the Subprime Crisis (the Great Recession) in 2007 are similar: central banks implemented lax monetary policy and governments adopt populist policies to expand credit, economic growth drives public and private debt to increase sharply and asset illiquidity is caused due to the financial system's borrowing short-term funding to lend long-term loans for high profits. The key factors involved in both crises will be analysed from the following dimensions prior to the two crises: interest rates, credit booms, leverage and liquidity in the banking system. Human nature is one main reason to explain these crises. The primary cause of this phenomenon is that animal spirits such as confidence cannot be entirely eliminated, with significant subsequent effects upon the economy.
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Open Access
Original Research Articles
Article ID: 1628
Analysis on the Influencing Factors of the Planning and Layout of New Energy Vehicle Charging Infrastructureby Can Zhang
Financial Forum, Vol.9, No.4, 2021; 75 Views, 4 PDF Downloads
Although China’s new energy vehicle charging infrastructure has a certain scale, the problem of charging difficulties still exists, mainly due to the unreasonable layout of the charging infrastructure. The article relates to the factors affecting the planning and layout of the charging infrastructure after sorting out the literature and analyzing the process of formulating charging infrastructure plans in various regions at home and abroad. Combined with field research, it is determined that the main influencing factors affecting the planning and layout of charging infrastructure are: market factors, traffic factors, and administrative factors, and carry out in-depth analysis of them. The analysis will provide a basis for the reasonable layout of charging infrastructure in various places in the future.
