Finance & Economics
type: channel
description: ISSN 2959-6130 (Print) ISSN 2960-1312 (Online) Editor-in-chief: Rana Muhammad Ammar ZAHID （The Business School, RMIT University） Associate Editor: Hadi Hussain （Xi'an Jiaotong University） Editorial Board Member: Muhammad Waleed Youn as （Xi'an Jiaotong University） Zi Mu （The University of Manchester） The Journal of Finance and Economics (JFE) is an accessible, peer-reviewed academic platform dedicated to the next generation of thinkers. Designed specifically for college students, young researchers and innovators, JFE serves as a bridge between foundational academic study and professional scholarly publishing. Our journal provides a high-quality venue for emerging voices to share original research, case studies, and innovative theories in the fields of Finance, Economics, and Management. We are committed to fostering academic growth by providing a rigorous yet supportive peer-review process that helps early-career scholars refine their work and contribute to the global conversation. Scope of subjects Finance: Exploring corporate finance, fintech, markets, and investment strategies. Economics: Investigating micro and macroeconomic trends, public policy, and behavioral shifts. Management: Analyzing organizational leadership, strategic innovation, and modern business operations. Interdisciplinary Studies: Welcoming work that connects these three pillars with technology, sustainability, and social impact. At JFE, we believe that innovation often begins with fresh perspectives. Whether you are an undergraduate student presenting your first empirical study or a young professional proposing a new management model, the Journal of Finance and Economics is your platform for academic excellence. All articles will be submitted to: Google Scholar, Crossref, U.S. Librarian Database, ProQuest (part of Clarivate’s Web of Science), Ulrich's Periodicals Directory, SEMANTIC SCHOLAR, OpenAlex.
publisher: Dean & Francis
language: en
publication name: Finance & Economics
issn: 2959-6130
items: Impact of National Socio-cultural Context and Geography on the Feasibility of Energy Transition
items: The Power of Default Option: How Extensive Choices Impact Consumer Decisions
items: The Analysis of Strategic Development of Tesla in Chinese Electric Vehicles Market
items: Elements of Realization for the Effective Implementation of Corporate Social Responsibility -Case Analysis based on Novolife Corporation’s Charity Relief Programme for Children with Encephalopathy
items: A Brief Analysis of Internal Control Strategies for Financial Risks in Listed Companies
items: A New Probe into the Financial Management Reform of Listed Companies under the Background of Integration of Industry and Finance
items: Excessive consumption behavior of young people under the wave of digital payment: an analysis from the perspective of behavioral economics
items: What are the advantages and disadvantages of offshore companies? ——Taking Evergrande Real Estate Group as an Example to Analyze Related Risks and Preventive Measures
items: An Analysis of the Retail Industry after the COVID-19 Pandemic in Melbourne and Hefei
items: Impact of Social Media on Connected Transactions
items: An Empirical Study on Wind-solar Energy Reserve in Inner Mongolia in the Context of Carbon Neutrality
items: An analysis of Chinese female sports consumption fever from the perspective of behavioral economics
items: Optimization Model of Emergency Evacuation Network Based on Genetic Algorithm
items: Quantitative Research on “Blockchain+Supply Chain” Financing Based on Game Theory Modeling
items: A study of the impact of media image on the market economy, network economy, and social business operations
items: How does data pricing affect financial institutions’ decisions on cross-border flow of financial data
items: The Environmental Crossroads of Industrial Development: Water Pollution in Heavy Industry and the Role of Environmental Engineering
items: The Impact of Command-and-Control Environmental Regulations on Firms’ Maturity Mismatch: Evidence from Chinese 2015 New Environmental Protection Law
items: Analysis of Marketing Strategies Used in the Blind Box Industry: A Case Study of Pop Mart
items: Research on the Factors Influencing the Consumption Willingness of Women of Different Age Groups in the Apparel Industry
items: Application of AIGC in Games
items: The Economic Multiplier Effect of Mega- Sporting Events: A Case Study of the Formula 1 Shanghai Grand Prix on Urban Tourism and Consumer Spend
items: The Impact of Pop Mart on Consumers’ Buying Ideas: Based on the Trillion-Yuan Trendy Toy Industry
items: NBA’s Tech-Driven Innovations: Practices, Strategies, and Optimization Recommendations
items: Optimization and Innovation of Supply Chain Models in the Context of Cross- Border E-Commerce
items: The Impact of Digital Transformation on Corporate Governance: Spillover Effects of Internal Governance
items: The Application of Artificial Intelligence in the Automobile Industry: A Case Study of Tesla’s Dojo Supercomputer
items: How different between nations influence consumption decision in the field of entertainment product?
items: Credit Card Default Prediction: a Systematic Machine Learning Pipeline and Model Comparison
items: China Educational Resources Analysis Based on GINI Coefficients

Impact of National Socio-cultural Context and Geography on the Feasibility of Energy Transition
type: item
description: This study aims to explore the feasibility and development paths of global energy transition by analyzing the economic, geographic, social, and political characteristics of various countries in their energy transition processes. The results show significant differences in the progress of energy transition among countries. Developed countries, with their economic strength and technological capabilities, can advance energy transitions more quickly, while developing countries face more obstacles. These insights highlight the importance of tailored strategies based on the unique challenges and resources of each country to promote global energy transition. A review of existing literature reveals that current energy transition research primarily focuses on individual countries. This paper categorizes countries into three groups, summarizes their common characteristics, and analyzes their impact on energy transition, particularly the relationship between economic development, income inequality, education levels, and population size. The study data indicate that countries with higher per capita GDP, lower Gini coefficients, and higher proportions of university-educated labor forces are more successful in energy transition. The paper advocates for a holistic approach that includes socio-economic reforms in addition to technological advancements to promote energy transition.
subject: Articles
  topic: section
subject: Energy transition
  topic: keywords
subject: economic development
  topic: keywords
subject: geographic conditions
  topic: keywords
subject: socio-cultural factors
  topic: keywords
subject: sustainable development
  topic: keywords
creator: Xinruo Wang
creator: Wenzhe Wang
creator: Yiyang Xu
creator: Minjae Kim
rights: Copyright (c) 2025 Finance & Economics
date: 2025-12-27
publication date: 2025-12-27
doi: 10.61173/xapphw74

The Power of Default Option: How Extensive Choices Impact Consumer Decisions
type: item
description: This study explores choice overload and its impact on consumer decision-making, particularly regarding default options. While prior research indicates that gender may influence decision-making, our findings reveal no significant gender effect on the likelihood of selecting default options, satisfaction levels, or decision-making duration. This suggests that choice overload’s effects are applicable across diverse demographic groups. Our research provides important marketing insights, advocating for simplified choice environments to enhance customer satisfaction. Reducing the number of options can alleviate choice fatigue and improve the overall purchasing experience. Conversely, when promoting specific products, creating a choice overload scenario with a designated default option may increase its selection likelihood. The study does, however, recognize limitations, such as the lack of comparisons between scenarios with and without default options and potential participant confusion that may lead to invalid responses. Future research should investigate the role of default options on satisfaction and decision-making time within choice overload contexts and assess whether product categories influence adherence to default options.
subject: Articles
  topic: section
subject: choice overload
  topic: keywords
subject: decision making
  topic: keywords
subject: default option
  topic: keywords
creator: Yixuan Xiao
creator: Bingyi Xiong
creator: Jingyun Zou
rights: Copyright (c) 2025 Finance & Economics
date: 2025-10-13
publication date: 2025-10-13
doi: 10.61173/f2tssf08

The Analysis of Strategic Development of Tesla in Chinese Electric Vehicles Market
type: item
description: Since 2012, Tesla has established many factories and research and innovation centers in China. This paper examines the strategic development of Tesla in the Chinese electric vehicles (EV) market and reveals several key findings. As one of the world’s leading EV manufacturers, Tesla’s expansion into China has been a significant milestone in its global growth strategy. The analysis focuses on Tesla’s market entry strategy, competitive positioning, localization efforts, and the impact of Chinese policies and market dynamics on its operations. By studying Tesla’s strategic decisions and outcomes in the Chinese EV market, this paper provides insights into the opportunities and challenges faced by multinational companies in the rapidly evolving Chinese EV industry.
subject: Articles
  topic: section
subject: Electric Vehicle
  topic: keywords
subject: Tesla
  topic: keywords
subject: Pricing Strategies
  topic: keywords
subject: Business Strategies
  topic: keywords
creator: Xintai Li
creator: Ziyi He
creator: Yiming Wang
rights: Copyright (c) 2025 Finance & Economics
date: 2025-04-16
publication date: 2025-04-16
doi: 10.61173/p5v1w979

Elements of Realization for the Effective Implementation of Corporate Social Responsibility -Case Analysis based on Novolife Corporation’s Charity Relief Programme for Children with Encephalopathy
type: item
description: Participating in social welfare undertakings and helping to solve social problems are significant channels for fulfilling and realizing corporate social responsibility. Over the past two years, as a volunteer, the author has personally participated in the public welfare project for children with encephalopathy of Nolai Biomedical Technology Co.(Novolife). The author has organized public welfare associations for children with encephalopathy in ICC attached to the Renmin University of China and Breck School in Minnesota, USA, to publicize and study the progress of this project, to follow up and understand the treatment and recovery of the children with encephalopathy, to consult and discuss with managers, medical experts and nurses of Novolife Corporation, and to tale to the children with encephalopathy and parents of the patients. From the preliminary discomfort and shock of witnessing children with encephalopathy in batches, the author gradually changed to the voluntary dedication of directly participating in the service, and under the guidance of Professor Chengfu Zhang, doctoral supervisor of Renmin University of China, and professor of Fulbright Foundation in the United States, the author transformed into the rational thinking of corporate social responsibility. The author is interested in how enterprises should achieve social responsibility under the law of profit maximization and gradually explores the shortcomings, dilemmas, experiences, and inadequacies of Chinese enterprises in achieving social responsibility. This paper focuses on the case analysis of Novolife Corporation’s public welfare project for children with encephalopathy and seeks to analyze the experience of Novolife Corporation in realizing its CSR and to summarize the effective paths for corporations to fulfill their social responsibility under the premise of profit maximization.
subject: Articles
  topic: section
subject: Corporate Social Responsibility
  topic: keywords
subject: social welfare
  topic: keywords
subject: Novolife Corporation
  topic: keywords
subject: Children with Encephalopathy
  topic: keywords
subject: economic benefits
  topic: keywords
creator: Kaiyue Jiang
rights: Copyright (c) 2026 Finance & Economics
date: 2025-12-25
publication date: 2025-12-25
doi: 10.61173/tbmj9c36

A Brief Analysis of Internal Control Strategies for Financial Risks in Listed Companies
type: item
description: In an era of intensifying competition, a more complex socio-economic environment, and rapid technological advancement, financial risks throughout all economic activities of enterprises have become a critical concern. These risks affect not only the stability of individual businesses and financial markets but also the economic security of countries. Effective financial risk control requires a systematic approach and the integration of efforts across various functional departments to ensure stable and sustainable development of enterprises. This paper provides recommendations on managing financial and operational risks based on internal control theories, China’s regulatory norms, and perspectives from economics and management.
subject: Articles
  topic: section
subject: Listed companies
  topic: keywords
subject: internal control
  topic: keywords
subject: financial risks
  topic: keywords
subject: risk management
  topic: keywords
creator: Jialin Song
rights: Copyright (c) 2026 Finance & Economics
date: 2025-12-25
publication date: 2025-12-25
doi: 10.61173/pdtjve21

A New Probe into the Financial Management Reform of Listed Companies under the Background of Integration of Industry and Finance
type: item
description: Under the blessing of the development of modern information technology, the integration of industry and finance has become the mainstream development trend of enterprise financial management. The internal financial management mode of the enterprise also needs continuous reform and innovation. Based on this, the paper studies the reform and innovation of financial management model under the background of industry-finance integration. This paper discusses the specific role of financial management innovation in maintaining capital safety and promoting the steady development of enterprises under the background of financial integration, and analyzes the three principles of process, integrity and risk control that financial management innovation should follow under the background of financial integration. Finally, the article combines the financial management reform under the integration of industry and finance with the practical and difficult problems in budget management control and data analysis, and puts forward specific countermeasures to effectively prevent financial risks, innovate budget management and establish information system under the guidance of the concept of integration of industry and finance.
subject: Articles
  topic: section
subject: financial management
  topic: keywords
subject: financial performance and financial integration
  topic: keywords
creator: Jinyang Lu
rights: Copyright (c) 2026 Finance & Economics
date: 2025-10-10
publication date: 2025-10-10
doi: 10.61173/1x3zpz83

Excessive consumption behavior of young people under the wave of digital payment: an analysis from the perspective of behavioral economics
type: item
description: With the popularization of digital payment, the excessive consumption of young people is increasingly serious, which harms personal finance and social and economic stability. This paper employs behavioral economics theory to analyze the internal mechanism of excessive consumption among young people within the background of digital payment. It considers individual-level reference dependence, payment isolation, hyperbolic discounting psychology, and external framing effects and decoy effects. Moreover, suggestions are given based on these analyses to help young people form rational consumption attitudes through educational initiatives, guidance from family and social networks, the dissemination of information, policy encouragement, regulatory enhancement, and legal safeguards. This initiative aims to promote the well-being of the consumer market and the economic growth of the nation by fostering a healthy consumer environment and the development of healthy and sustainable consumer habits among young people.
subject: Articles
  topic: section
subject: digital payment
  topic: keywords
subject: excessive consumption
  topic: keywords
subject: behavioral economics
  topic: keywords
subject: policy advice
  topic: keywords
subject: rational consumption
  topic: keywords
creator: Sizhe Yang
rights: Copyright (c) 2026 Finance & Economics
date: 2025-10-10
publication date: 2025-10-10
doi: 10.61173/yvg6z782

What are the advantages and disadvantages of offshore companies? ——Taking Evergrande Real Estate Group as an Example to Analyze Related Risks and Preventive Measures
type: item
description: This article takes the phenomenon of “offshore companies” as the main research direction, supplemented by the analysis of potential risks of Evergrande Real Estate Group as a practical case, and attempts to provide certain suggestions for the compliance construction of similar enterprises in the future. This article adopts a combination of literature review and case analysis methods for research. Firstly, by consulting relevant materials, explain the concepts, characteristics, and advantages of offshore companies compared to general limited companies. Secondly, using case analysis method, elaborate on the potential risks of offshore companies. Finally, by referring to and drawing on the existing systems of international organizations and the United Kingdom, it is possible to establish and improve corresponding legal regulations in China in the future.
subject: Articles
  topic: section
subject: Offshore Company Evergrande Real Estate Group Tax Avoidance
  topic: keywords
creator: Wenjing Qian
rights: Copyright (c) 2026 Finance & Economics
date: 2025-08-20
publication date: 2025-08-20
doi: 10.61173/3mwcjz25

An Analysis of the Retail Industry after the COVID-19 Pandemic in Melbourne and Hefei
type: item
description: This paper will attempt to compare the retail industry between two different cities, Hefei and Melbourne. During the last three years, the whole world’s economy was damaged. As an important part of the offline economy model, the retail industry has suffered badly since people want to buy things offline much less during the pandemic. This paper wants to study each city’s retail industry, find their differences and similarities, and discuss the problems each city’s industry faces now.
subject: Articles
  topic: section
subject: Retail Industry Transformation
  topic: keywords
subject: COVID-19 Economic Impact
  topic: keywords
subject: Comparative Urban Analysis
  topic: keywords
creator: Yufei Hou
rights: Copyright (c) 2026 Finance & Economics
date: 2025-08-20
publication date: 2025-08-20
doi: 10.61173/xf4xz013

Impact of Social Media on Connected Transactions
type: item
description: In the context of the thriving development of social media all over the world, this paper combines today’s development of new media in trade, occupies a gradually important position in the background, will the perspective of the big into small, and discusses today’s development of social media on China’s market in this aspect of the related transactions have an important impact. This paper examines the relationship between social media and connected transactions from three aspects: company profile, the company’s social media attention, and the impact of social media attention on connected transactions, and then provides policy suggestions for social media to promote the development of connected transactions from different perspectives, such as the perspective of social media platforms, the perspective of the government regulators, and the perspective of listed companies.
subject: Articles
  topic: section
subject: social media
  topic: keywords
subject: connected transactions
  topic: keywords
subject: market reflection
  topic: keywords
subject: accounting information
  topic: keywords
creator: Jiarui Zhang
rights: Copyright (c) 2026 Finance & Economics
date: 2025-06-19
publication date: 2025-06-19
doi: 10.61173/vmqfqd54

An Empirical Study on Wind-solar Energy Reserve in Inner Mongolia in the Context of Carbon Neutrality
type: item
description: This study explores the empirical research of wind and solar energy reserves in the Inner Mongolia region within the broader context of carbon neutrality. Through detailed surveys and data analysis of wind and solar energy resources, we comprehensively assess their potential, reserves, and sustainability. Our findings reveal Inner Mongolia’s abundant wind and solar resources, pivotal in advancing carbon neutrality strategies. However, overcoming challenges such as cost, efficiency, sustainability, and grid coordination of energy storage technologies is imperative to fully leverage this potential. Therefore, this paper proposes suggestions for improvement, including technological innovation, planning optimization, and energy coordination measures. These recommendations aim to address current challenges and enhance the utilization of wind and solar resources in Inner Mongolia, providing valuable insights for future energy planning and policy formulation. This study is a guiding framework for promoting sustainable energy development in the region.
subject: Articles
  topic: section
subject: carbon neutrality
  topic: keywords
subject: wind energy
  topic: keywords
subject: light energy
  topic: keywords
subject: reserve
  topic: keywords
subject: Inner Mongolia region
  topic: keywords
creator: Lingjie Meng
rights: Copyright (c) 2026 Finance & Economics
date: 2025-06-19
publication date: 2025-06-19
doi: 10.61173/jaq0dn54

An analysis of Chinese female sports consumption fever from the perspective of behavioral economics
type: item
description: This paper interprets and analyzes the trends and causes of the Chinese female sports consumption craze from the perspective of behavioral economics and corresponding scientific theories through the literature review method and puts forward relevant suggestions to guide female sports consumption. The analysis results show that female sports consumption is on the rise because of the psychology of reference dependence, with the promotion of women’s status, higher pursuit of appearance, and emotional or psychological satisfaction. Therefore, the marketing of the consumer market needs to use more emotion to impress women, carry out more promotional activities, improve the quality of goods and aesthetics, and highlight the characteristics of goods.
subject: Articles
  topic: section
subject: Sports consumption fever
  topic: keywords
subject: Female
  topic: keywords
subject: Reference dependence
  topic: keywords
creator: Zhaorun Jia
rights: Copyright (c) 2026 Finance & Economics
date: 2025-04-15
publication date: 2025-04-15
doi: 10.61173/ej9hym82

Optimization Model of Emergency Evacuation Network Based on Genetic Algorithm
type: item
description: Aggregation and dispersion are the normal states. In economic production and social life, the evacuation of people and materials deserves extensive attention. From the perspective of mathematics and economics, arranging a thoughtful evacuation is essential for the best balance between personal satisfaction and cost. In this paper, evacuation is deeply studied by a genetic algorithm; the balance, cost, and willingness (satisfaction) priority models, which consider both satisfaction and cost, are established. In this paper, based on the field investigation and questionnaire survey conducted by Oriental Sports Center, overall satisfaction is inferred by the satisfaction of each person in the tested sample, and the time cost from the evacuation point to different reception points is inferred through actual investigation. Based on these data, a balance model is established, and the calculation is performed. The ratio of the total willingness value of the evacuated individuals to the total cost is taken as the function of the optimization objective. When the optimization objective function is complex, the genetic algorithm is used to search for the optimal solution by simulating the process of natural evolution. At the same time, the cost priority and willingness priority models are established to compare the advantages and disadvantages of different evacuation schemes and their applicable situations. The evacuation of Oriental Sports Center is studied using a genetic algorithm. The objective function value of equilibrium model optimization is 0.2155 (optimal solution), significantly different from willingness priority model optimization (0.0300). After calculating the optimization objective function value and cost value under the conditions of cost priority and willingness priority, a “People-oriented and cost-balanced” suggestion is put forward for a large crowd evacuation scheme.
subject: Articles
  topic: section
subject: emergency evacuation
  topic: keywords
subject: genetic algorithm
  topic: keywords
subject: optimization model
  topic: keywords
creator: Haoning Yin
rights: Copyright (c) 2026 Finance & Economics
date: 2025-04-15
publication date: 2025-04-15
doi: 10.61173/p09zvb53

Quantitative Research on “Blockchain+Supply Chain” Financing Based on Game Theory Modeling
type: item
description: In the 21st century, with globalization and the “Belt and Road” economic activities. As an important financial means, supply chain financing plays a key role in trade transactions between enterprises. Supply chain financing refers to providing financial support and services to different participants in the entire supply chain through financial instruments to meet the financial needs of their production and trade activities. To address the issue of “blockchain+supply chain” financing, specifically in the traditional supply chain, the downstream of the SMEs financing difficulties has been one of the factors plaguing its development. Still, also one of the constraints on the overall supply chain operational efficiency, we use the principles of game theory to establish a game theory model between financial institutions and SMEs and use Matlab software to solve the simulation data. We use the principle of game theory to establish a game theory model between financial institutions and MSMEs, use Matlab software to solve the simulation data and analyze the financial institutions to adopt the “blockchain+supply chain” financing strategy, and MSMEs to adopt the trustworthy strategy so that the two sides can maximize the benefits, and also maximize the benefits for the whole supply side. In addition, the research process and results can provide references for relevant state departments and various social enterprises and organizations.
subject: Articles
  topic: section
subject: “Blockchain+Supply chain” Financing
  topic: keywords
subject: Game theory model
  topic: keywords
subject: Financial Institutions
  topic: keywords
subject: MSMEs
  topic: keywords
creator: Yuting Wang
rights: Copyright (c) 2026 Finance & Economics
date: 2025-02-16
publication date: 2025-02-16
doi: 10.61173/77e49t53

A study of the impact of media image on the market economy, network economy, and social business operations
type: item
description: The Chinese internet economy is rapidly developing while prominent bandwagon netroots have arisen on major network platforms. This paper employs textual analysis to examine the market and network economy and social merchant operations’ susceptibility to the media image of two bandwagon netroots. Following the study, the two web celebrities jump on the bandwagon and utilize the contrast between their image and gender groups, catering to their clientele and shaping their public backgrounds, beautifying their business image and narrative of personal stories, to increase the sales of their online bandwagon products.
subject: Articles
  topic: section
subject: media portrayal
  topic: keywords
subject: live bandwagon
  topic: keywords
subject: and the online economy
  topic: keywords
creator: Guangdong Shi
rights: Copyright (c) 2026 Finance & Economics
date: 2025-02-16
publication date: 2025-02-16
doi: 10.61173/tdjcp040

How does data pricing affect financial institutions’ decisions on cross-border flow of financial data
type: item
description: With the in-depth development of digital economy, the cross-border flow of financial data has become an important force to promote the integration of global financial markets. As the core mechanism of data factor marketization, how data pricing affects the cross-border data flow decisionmaking of financial institutions is an urgent theoretical and practical issue to be further studied. This paper systematically sorts out the main models of data pricing in financial institutions, analyzes the whole process of crossborder financial data flow and its operation mechanism at the level of financial institutions, and then discusses the internal relationship between data pricing and each link of cross-border data flow. It is found that data pricing affects the cross-border decision-making of financial institutions through three paths: compliance cost-benefit trade-off, data value release incentive, and risk pricing mechanism, among which the compliance assessment before data departure is the most closely related to the two. This paper provides a theoretical reference for financial institutions to achieve cost reduction, efficiency increase and competitiveness improvement through scientific pricing strategy under the premise of ensuring compliance security.
subject: Articles
  topic: section
subject: Data pricing
  topic: keywords
subject: Financial data
  topic: keywords
subject: Cross-border flows
  topic: keywords
subject: Pricing models
  topic: keywords
subject: Financial institution decision making
  topic: keywords
creator: Xintong Yu
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/r6tvpa66

The Environmental Crossroads of Industrial Development: Water Pollution in Heavy Industry and the Role of Environmental Engineering
type: item
description: Over the past few decades, China’s industrial expansion has been widely associated with economic progress and improvements in industrial capacity. Heavy industries, in particular, have contributed significantly to economic output and the formation of a complete industrial system. Yet the environmental consequences of this growth— especially those related to water resources—have become increasingly difficult to overlook. As industrial production intensifies, wastewater discharge continues to rise, placing growing pressure on aquatic ecosystems. This trend has not only accelerated the deterioration of water quality but has also raised concerns regarding ecological stability and public health. Under these conditions, the challenge is no longer whether industrial development should continue, but how it can coexist with effective water resource protection. This paper examines water pollution associated with heavy industrial enterprises, focusing on its main characteristics and underlying causes. Particular attention is given to the role of environmental engineering technologies in pollution control. While water pollution cannot be completely eliminated in an industrial society, this study suggests that coordinated efforts involving technological innovation, engineering optimization, and policy intervention can significantly reduce pollution intensity and improve the sustainability of water use. In this process, governmental action remains essential. Regulatory frameworks, green economic policies, and fiscal incentives all shape corporate behavior and influence whether enterprises adopt environmentally responsible practices. Beyond institutional measures, public oversight and international cooperation further contribute to more integrated and resilient approaches to water governance.
subject: Articles
  topic: section
subject: Environmental engineering
  topic: keywords
subject: Water pollution
  topic: keywords
subject: Industrialization
  topic: keywords
subject: International cooperation
  topic: keywords
subject: Heavy industry enterprises
  topic: keywords
creator: Junfei Li
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/m1pqva84

The Impact of Command-and-Control Environmental Regulations on Firms’ Maturity Mismatch: Evidence from Chinese 2015 New Environmental Protection Law
type: item
description: Amid increasingly stringent environmental governance, firms’ investment and financing maturity structure directly shapes liquidity risk exposure and capital chain resilience, thereby influencing the green transition and high-quality development. Exploiting the 2015 revision of China’s New Environmental Protection Law as a quasi-natural experiment and using panel data on A-share manufacturing firms from 2009 to 2021, this study implements a difference-in-differences approach to identify the effect of command-and-control environmental regulation on debt–investment maturity mismatch. Empirical results show that after China’s New Environmental Protection Law, maturity mismatch increases significantly among heavily polluting firms, which indicates a materially higher reliance on short-term funding to bridge long-horizon investment and therefore greater rollover and liquidity risk. Mechanism analyses show two channels, namely an increase in long-term investment and a tightening of credit, reflecting compliance-driven capital expenditures together with a contraction in long-maturity credit supply, which pushes firms toward short-term borrowing for longhorizon projects and raises rollover and liquidity risk. Heterogeneity analyses show that the mismatch effect is concentrated among private firms, younger firms, and larger firms, while no statistically significant adjustment is detected for state-owned or foreign-invested firms. These findings demonstrate that command-and-control environmental regulation strengthens compliance but may inadvertently exacerbate firms’ financial fragility through maturity mismatch. Author recommend establishing a coordination mechanism between enforcement and green finance by setting up earmarked credit lines, issuing green bonds, and providing government-backed guarantees to expand medium and long-term funding for pollutionintensive sectors, and by offering targeted support to private firms, early-stage growth firms, and entities with heavier …
subject: Articles
  topic: section
subject: Command-and-Control environmental regulation
  topic: keywords
subject: Maturity mismatch
  topic: keywords
subject: New environmental protection law
  topic: keywords
subject: Credit constraints
  topic: keywords
creator: Zhiya Zheng
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/ph23fq74

Analysis of Marketing Strategies Used in the Blind Box Industry: A Case Study of Pop Mart
type: item
description: The blind box industry has experienced phenomenal growth from the end of 2024 to the start of 2025, indicating its immense potential. Blind boxes have become a symbol of pop culture, attracting numerous consumers, especially teenagers and young adults. As blind box products go viral around the globe, this study aims to analyze the influence of blind box enterprises’ marketing strategies through a case study of POP MART, one of the most well-known blind box companies. In this dissertation, analysis of POP MART’s marketing strategies is conducted via the 4P Marketing Model and is supported by a combination of primary-research and secondary-research data. This study includes an online survey that collected customers’ opinion on the company and its products, providing quantitative data for the research. This study discovered that POP MART’s marketing strategies have significant positive impact on consumers’ purchasing intention, despite results from the online survey demonstrating that more than 70% of consumers do not purchase blind box products impulsively as was described in many other articles. Strengths and shortages of POP MART’s marketing tactics were all stated, while potential threats and recommended solutions were also listed in this paper.
subject: Articles
  topic: section
subject: blind box
  topic: keywords
subject: POP MART
  topic: keywords
subject: marketing strategy analysis
  topic: keywords
subject: 4P marketing model
  topic: keywords
creator: Kexin Lu
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/ngrmaz43

Research on the Factors Influencing the Consumption Willingness of Women of Different Age Groups in the Apparel Industry
type: item
description: This study explored the factors influencing offline clothing consumption intentions among Chinese women of different age groups through a mixed-methods approach integrating literature review, questionnaire survey, and in-depth interviews. The research conducted secondary data studies to synthesize existing research findings and empirical evidence related to the topic. A tailored questionnaire was designed, and a total of 118 valid responses were collected, covering three age groups of Chinese women: 15–30, 31–55, and 56–80. The collected data were analyzed statistically, including analysis of variance (ANOVA) and correlation analysis. The results indicated that clothing quality is a common concern among women of all age groups, but there are significant differences between age groups in attitudes toward price, brand image, and fashion trends. Specifically, young women (ages 15–30) pay more attention to fashion trends, middle-aged women (ages 31–55) prioritize brand image the most, and older women (ages 56–80) are most sensitive to price. Correlation analysis further shows that age is positively correlated with price sensitivity and negatively correlated with sensitivity to fashion trends, while no significant linear correlation was found between age and perception of brand image. Interview results supplement the findings of the quantitative study, indicating that these age-based consumption preferences are driven by factors such as conformity psychology, the need for status symbols, and long-standing consumption habits. This study enriches the academic literature on age differences in clothing consumption behavior among Chinese women and provides targeted marketing strategy recommendations for the apparel industry, offering practical reference value for brand positioning and product promotion in the offline clothing market.
subject: Articles
  topic: section
subject: fashion
  topic: keywords
subject: female consumption
  topic: keywords
subject: economy
  topic: keywords
creator: Ruyi Geng
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/rbbqyz50

Application of AIGC in Games
type: item
description: This paper explores the transformative role of Artificial Intelligence Generated Content (AIGC) in the gaming industry. It begins with an introduction to AIGC, its growing impact on game development, and the opportunities and challenges it presents. A comprehensive literature review is followed by a theoretical analysis of AI technologies such as procedural content generation and neural networks in game design. The research methodology is outlined, detailing case studies, data collection techniques, and evaluation criteria. Experimental results are presented, comparing AI-generated content with traditional methods in terms of quality, efficiency, and user experience. The conclusion reflects on the implications of AIGC for future game development, emphasizing the need for ethical, technical, and creative advancements. Keywords: Artificial Intelligence, Game Development, AIGC, Procedural Content Generation, Player Engagement.
subject: Articles
  topic: section
subject: AIGC
  topic: keywords
subject: Game Development
  topic: keywords
subject: Economic Model
  topic: keywords
subject: Procedural Content Generation
  topic: keywords
subject: Player Behavior
  topic: keywords
creator: Tianhao Lv
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/trtrv081

The Economic Multiplier Effect of Mega- Sporting Events: A Case Study of the Formula 1 Shanghai Grand Prix on Urban Tourism and Consumer Spend
type: item
description: This study explored the economic multiplier effect of the Formula 1 (F1) Shanghai Grand Prix on the local tourism industry, filling the research gap in the literature on the economic multiplier effect of large-scale events. By combining Keynesian multiplier theory with empirical data (including official reports and responses to 209 questionnaires), the analysis results show that the 2024 event brought a direct economic impact of 1.406 billion yuan and an indirect output of 3.928 billion yuan, creating 9,857 jobs. The theoretical multiplier (3.12) is higher than the observed multiplier (2.793), because of the economic leakages such as international expenses (eg FIA licensing fees), imports, and cross-border expenditures which together account for 34.6% of the total economic impact. Although 78% of the participants were non-local tourists, which promoted the short-term tourism in Shanghai and the Yangtze River Delta region, significant challenges also emerged, including traffic congestion (reported by 69% of residents) and noise pollution. The survey results indicated that tourists were highly satisfied (88.7% willing to visit again), but also identified concerns about infrastructure and prices. In conclusion, the recommendations for sustained development include (1) minimizing leakages by strengthening local supply chains (2) increasing the marginal propensity to consume through targeted consumption vouchers; (3) promoting regular route usage (eg. car tourism); (4) introducing community compensation mechanisms. This study emphasises that safeguarding residents’ wellbeing alongside pursuing economic gains is essential for ensuring long-term viability. Limitations include the restricted sample size and limited accessibility of relevant data.
subject: Articles
  topic: section
subject: Formula One Shanghai Grand Prix
  topic: keywords
subject: Multiplier effects
  topic: keywords
subject: Urban tourism
  topic: keywords
subject: Consumer spending
  topic: keywords
creator: Yuxuan Zhong
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/v0dpkx46

The Impact of Pop Mart on Consumers’ Buying Ideas: Based on the Trillion-Yuan Trendy Toy Industry
type: item
description: China’s trendy toy market has grown rapidly and is expected to reach 87.7 billion yuan by 2025. As a leading company in this industry, Pop Mart has changed how people view buying and collecting through its “IP Pyramid” business model. Instead of focusing on practical use, Pop Mart highlights emotional value, symbolic meaning, and long-term collection. This study uses a mixed research method, including academic research, industry cases, and survey data, to explore how Pop Mart influences consumer behavior. The results show three main changes: consumers shift from functional buying to symbolic and meaningful consumption, from individual purchasing to socially influenced consumption, and from short-term spending to long-term collecting. These trends are strongly connected to technology, cultural identity, and Generation Z. Although the trendy toy industry supports creativity and emotional satisfaction, it also creates risks such as irrational spending and financial pressure. This study helps explain modern consumption changes and offers suggestions for sustainable industry development.
subject: Articles
  topic: section
subject: Pop Mart
  topic: keywords
subject: Consumption Concept
  topic: keywords
subject: Trendy Toy
  topic: keywords
subject: IP Operation
  topic: keywords
subject: Symbolic Consumption
  topic: keywords
creator: Honglin Wang
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/s4v15895

NBA’s Tech-Driven Innovations: Practices, Strategies, and Optimization Recommendations
type: item
description: Responding to the change of its environment, NBA responded quickly to emerging technologies with their incorporation. The NBA used cutting-edge technologies to innovate operations through the sports industry’s digital transformation. The study analyzes NBA’s technology involved promotion techniques of the market and strategies targeting individuals through technology. Key findings in the paper show an integrated adoptions of the technologies into fields that suits the NBA, as shown in the unique experience brought by the VR; AI’s precise targeting of fans; NFTs expanding involvement of casual fans; and the short video approach to suit the fragmented watching habits of modern fans. Moreover, the study analyzes in depth potential strategies the league could impose and suggests realistic application and optimization strategies. The results further emphasize the integration of VR, AI, NFTs, and short video uniquely into their market and the transformation of sports league through digital modernization.
subject: Articles
  topic: section
subject: Emerging technologies
  topic: keywords
subject: Operational innovation
  topic: keywords
subject: Promotional strategies
  topic: keywords
subject: Fan engagement
  topic: keywords
subject: Digital transformation
  topic: keywords
creator: Ruiming Zheng
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/554h4q54

Optimization and Innovation of Supply Chain Models in the Context of Cross- Border E-Commerce
type: item
description: In today’s context of economic globalization, cross-border e-commerce has become the core of international trade, and the efficient operation of the supply chain is key to the core competitiveness of cross-border e-commerce platforms. Supply chain optimization involves various processes within the supply chain. The main purpose of optimizing the supply chain is to help enterprises reduce costs and improve efficiency. This paper takes Shopee, a leading e-commerce platform in Southeast Asia and Latin America, as the research subject, systematically analyzing the operating status of its six core supply chain links. It focuses on innovative optimization practices in four key areas: logistics and warehousing, sales platforms, payment and funds, and customer service, and conducts targeted comparative analysis with TEMU in these four areas, clarifying the strengths and weaknesses of both supply chain models. Finally, combining current industry development trends, provide summarizing suggestions for the optimization and innovation of cross-border e-commerce supply chains, and offer some references for the high-quality development of the industry.
subject: Articles
  topic: section
subject: Cross-border e-commerce
  topic: keywords
subject: Supply chain model
  topic: keywords
subject: Shopee
  topic: keywords
subject: Optimization and innovation
  topic: keywords
subject: Comparative analysis
  topic: keywords
creator: Zimo Tan
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/1w8t5e51

The Impact of Digital Transformation on Corporate Governance: Spillover Effects of Internal Governance
type: item
description: With the rapid development of the digital economy, digital transformation has shifted from being an “option” for enterprises to a “necessity for survival”. At present, research has found that digital transformation of corporate governance can help reduce costs and increase efficiency, optimize business operations, and reduce risks. However, these studies mostly focus on the impact of digital transformation on internal and external governance, and there is still a research gap in studying the impact of digital transformation on corporate governance from the perspective of the connection between internal and external governance. Therefore, this paper will take Kweichow Moutai Co., Ltd. as an example for case analysis. Research has found that the digital transformation of internal governance can affect external governance through multiple channels, either directly or indirectly. Therefore, companies should pay attention to the spillover effects of internal governance during the digital transformation process to avoid unnecessary negative impacts on external governance.
subject: Articles
  topic: section
subject: Corporate governance
  topic: keywords
subject: digital transformation
  topic: keywords
subject: internal governance
  topic: keywords
subject: external governance
  topic: keywords
creator: Yue Zhou
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/mw3kfv30

The Application of Artificial Intelligence in the Automobile Industry: A Case Study of Tesla’s Dojo Supercomputer
type: item
description: Artificial intelligence is rapidly changing entire industries around the world - cars included. Not just a background player, it now shapes how vehicles are built, sold, and driven. Instead of relying on old methods, companies are tapping AI to refine production lines, better support drivers, prevent crashes, and even teach cars to navigate autonomously. One example stands out: Tesla’s Dojo system, custom-made for teaching self-driving software faster. By designing its own brain for learning, Tesla accelerates progress while reducing energy consumption over time. Unusual in design yet effective, this machine demonstrates what algorithms can do when tailored to a single task. Clearly, a shift has happened - machines learn more deeply, react quicker, and drive closer to full independence. All signs point forward; autonomy isn’t waiting, it’s advancing through raw computing power shaped by clear goals.
subject: Articles
  topic: section
subject: Artificial Intelligence
  topic: keywords
subject: Tesla
  topic: keywords
subject: Dojo Supercomputer
  topic: keywords
subject: Autonomous Driving
  topic: keywords
subject: Machine Learning
  topic: keywords
subject: Automotive Innovation
  topic: keywords
creator: Harvey Zhao
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/mktbh291

How different between nations influence consumption decision in the field of entertainment product?
type: item
description: With the advancement of internationalization and globalization, consumers can reach for entertainment product from different nation. However, some entertainment product may only be able to sell well in single nation, and sometime, some entertainment product that has a good response in several countries may have the opposite response in other countries. One factor that cause this situation to occur is the differences between different nations. This paper will focus on possible difference between several different nations and explore in what extent the cultural differences between different nation can influence the consumption decision for entertainment product. This paper will use methodology including Hofstede’s cultural dimension to explore the situation of several representative entertainment product in different nations and the deeper factor that cause this difference to occur.
subject: Articles
  topic: section
subject: Cultural differences
  topic: keywords
subject: Nation differences
  topic: keywords
subject: Consumption decision
  topic: keywords
subject: Entertainment product
  topic: keywords
subject: Hofstede’s cultural dimensions theory
  topic: keywords
creator: Yuchen Yan
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/ngerce72

Credit Card Default Prediction: a Systematic Machine Learning Pipeline and Model Comparison
type: item
description: Predictions of credit card defaults are inextricably linked with the risk management functions of financial institutions. Traditional statistical science falters with these kinds of problems involving complicated nonlinear structures, while machine learning studies have not performed systematic comparisons among several algorithms backed up by business interpretations. This study created a complete machine-learning pipeline around the University of California, Irvine (UCI) credit card dataset, comparing five models: logistic regression, decision trees, random forests, gradient boosting machines, and multi-layer perceptrons. Hyperparameter tuning was carried out using grid search, while the Area Under the ROC Curve (AUC) was considered the main evaluation metric. The results indicate logistic regression could discriminate best (AUC on test: 0.764), outperforming more complex ensemble and deep learning models. Permutation importance has identified the bill amount four months prior and the credit limit as the most important predictors and shown the greater value of dynamic financial behavior data against static demographic data. The study provides a high-performing model framework that is interpretable and reproducible for the financial industry, challenging the argument that complexity equals performance and showing the practical worth of simple models in certain scenarios.
subject: Articles
  topic: section
subject: Credit card default prediction
  topic: keywords
subject: Machine learning
  topic: keywords
subject: Model comparison
  topic: keywords
subject: Interpretability
  topic: keywords
subject: AUC
  topic: keywords
creator: Zhenning Zhang
rights: Copyright (c) 2026 Finance & Economics
date: 2026-04-24
publication date: 2026-04-24
doi: 10.61173/7nfj4473

China Educational Resources Analysis Based on GINI Coefficients
type: item
description: This article is based on the Gini coefficient to analyze the current educational status in China, and the Gini coefficient is calculated by the educational resources in different provinces. To diversify the sample, the work includes four different educational parameters: number of graduate students, number of institutions of higher learning, and number of high schools and middle schools. Based on the Chinese identity data from 2013 to 2021, this work calculates a line plot of the Gini coefficient, applying the correlation between the Lorentz curve and dynamic conditions. Concerning the different levels of education developments in China, it can draw the following conclusions: the Gini coefficient on the number of postgraduate students and institutions of higher learning is decreasing year by year, and the Gini coefficient on the number of high schools and middle schools appear an opposite trend. Regarding China’s basic national conditions, the research results show that postgraduate and institutions of higher learning education resources are more equal. Still, the trend for middle and high school is on the contrary.
subject: Articles
  topic: section
subject: Gini Coefficient
  topic: keywords
subject: Educational Resources
  topic: keywords
subject: Inequality
  topic: keywords
subject: Provinces
  topic: keywords
creator: Ya Xiao
rights: Copyright (c) 2026 Finance & Economics
date: 2026-03-24
publication date: 2026-03-24
doi: 10.61173/gbeggz23