Vol. 4 No. 1 (2022)

Open Access

Original Research Articles

Article ID: 2627

Research on the Evaluation of International Logistics Modes in Cross-Border E-Commerce

by Andong Liu

Global Finance Review, Vol.4, No.1, pp. 4(1), 1-4; , 2022; 79 Views, 2 PDF Downloads

With   the continuous development of the times, cross-border e-commerce has achieved sound development, and the development of the international logistics industry faces both opportunities and challenges. In this context, this article first analyzes the main international logistics modes of cross-border e-commerce, and then studies the evaluation of these modes from the aspects of basing on the reality, coordinating cross-border e-commerce with international logistics and government support, and perfecting the policies on international logistics development.

Open Access

Original Research Articles

Article ID: 2766

Dynamic Investment Strategy Based on Nonlinear Programming

by Haomiao Niu, Hanshuo Song, Huiyan Cui

Global Finance Review, Vol.4, No.1, pp. 4(1), 5-8; , 2022; 91 Views, 4 PDF Downloads

Aiming at the trading problem of gold and bitcoin in the financial market, this paper establishes a trading strategy based on KDJ and MACD indicators, and establishes an effective frontier curve model based on the change of mean variance to determine the investment ratio, and uses Lagrange multiplier method to maximize the trader's return rate.

Open Access

Original Research Articles

Article ID: 2900

An Analysis of the Merits and Demerits of the World Trade Organization’s Dispute Settlement Mechanism System and the Disadvantageous Position of Developing Countries in it

by Ruyi Xiao

Global Finance Review, Vol.4, No.1, pp. 4(1), 9-16; , 2022; 105 Views, 2 PDF Downloads

On January 1, 1995, world trade ushered in a new era. An organization used to establish, modify, and enforce rules governing international trade - the World Trade Organization (WTO) - was born. [1 ]  The WTO is the world's largest international economic organization and so far, as many as 164 members have joined. [ 1 ] , [2 ]  The WTO covers a wide range of areas, mainly including trade in goods, services, intellectual property, and other fields. [3 ]  Various trade disputes would arise in the complicated trade process and naturally, resolving disputes has become one of the core activities of the WTO. The WTO Dispute Settlement Mechanism (DSM) is regarded as the central pillar of the WTO and a unique contribution of the WTO to global economic stability. [4 ]  Generally speaking, DSM is excellent and successful. It provides a reliable trading platform for all members of the world and a guarantee for the free, fair, and predictable flow of trade. [5 ]  But on the other hand, nothing is perfect, DSM also has some criticisms, and there is also a certain degree of inequality in the treatment of members with different development levels. This article aims to analyse the merits and demerits of the WTO's DSM and to explain that, although the DSM was originally set up to benefit the weaker countries, in practice developing countries remain at a disadvantage.

Open Access

Original Research Articles

Article ID: 2909

The Impact of Fiscal Education Expenditure on Household Education Expenditure in China

by Feng Ying, Yanming Peng

Global Finance Review, Vol.4, No.1, pp. 4(1), 17-20; , 2022; 57 Views, 2 PDF Downloads

Education is always a hot topic in China attracting attention from many scholars, and the particularity of education frequently contributes to contradiction between education’s personal return and the social one. Therefore, to achieve common and equal development in educational development, macro control on education resources is of great importance. Learning the impact of fiscal education expenditure on household education expenditure can help in building a better understanding of the mechanism behind the effect of increasing or decreasing fiscal education expenditure, so that the government can set educational policies of higher efficiency. What’s more, merely understanding the general impact of fiscal education expenditure is far from enough. More factors, i.e., household income, educational stages, should be taken into consideration because different groups of people may have various reactions to the government’s macro control. Based on the secondary data collected from CFPS, an authoritative database in China, together with the primary data collected through the distribution of questionnaire, the researchers built three OLS regression models, and carried out certain data analyses, finally drawing the conclusions that the fiscal education expenditure plays the crowding out effect on the household one, and both income and educational stages have significant impact on this crowding out effect.

Open Access

Original Research Articles

Article ID: 2910

The Impact of Two Kinds of Responses to COVID-19 on the Stock Prices of Multinational and Local Enterprises

by Xinyue Zhang, Yi Man, Yue Zhu

Global Finance Review, Vol.4, No.1, pp. 4(1), 21-26; , 2022; 66 Views, 2 PDF Downloads

Ever  since  COVID-19  became  popular  around  the  world,  there  are  two  kinds  of measures  taken  by  governments  to  respond  to  the  impact  on  stock  markets,  including controlling  the  number  of new  cases  and  promulgating  economic  policies  to  stimulus economy. This paper studies how the two measures, controlling the spread of COVID-19 and formulating  economic  policies,  impact  stock  returns  in  United  States  and  what  are  the differences. Additionally, this paper analyses if these two measures have the same impact on multinational companies and local companies. By using CAPM and descriptive statistical analysis, the researchers find that economic stimulus is effective in short term but controlling the spread of pandemic plays the key part in long-term economic growth, international trades make a difference in reducing risk during COVID-19. Finally, to understand is the impact of investor sentiment on stock prices the reason for these two responses to changes in stock returns,  Fama-French  three  factor  with  sentiment  factor  added  is  used  to  explore  the relationship between investor sentiment and stock returns. The conclusion is that changes in investor sentiment are positively correlated with the excess return of the portfolio.

Open Access

Original Research Articles

Article ID: 2911

Research on Stock Pledge Risk Control in Securities Companies

by Zhongzhen Zhao

Global Finance Review, Vol.4, No.1, pp. 4(1), 27-30; , 2022; 61 Views, 4 PDF Downloads

Securities companies have their own unique advantages in carrying out stock pledge financing business, and are also in a leading position in stock pledge financing business. However, it should also be noted that with the expansion of the stock pledge financing business, stock pledge risks are also gathering. In this case, it is very necessary to study the stock pledge risk of securities companies. This paper first analyzes the risks existing in the stock pledge financing business of securities companies, and then puts forward measures to strengthen stock pledge risk management in securities companies.