Proceedings of Business and Economic Studies

Current Situation of Urban Energy Consumption Under the Digital Economy Model

Yun Huang — 2025-11-05

The digital economy has injected continuous momentum into the development of urban economy and plays a positive and important role in the transformation and upgrading of urban energy consumption. Specifically, the digital economy can significantly improve the efficiency of urban energy consumption by virtue of its distinctive characteristics of low pollution and high efficiency. Moreover, empowered by the digital economy, the pace of transformation and upgrading of high-pollution traditional industries has been accelerated. Particularly importantly, the urban energy consumption structure has been optimized and adjusted through the indirect role of intermediate factors. From this perspective, studying the current situation and countermeasures of urban energy consumption under the digital economy holds important practical significance both in theory and practice. This paper first briefly summarizes the relevant literature on the impact of the digital economy on the energy consumption structure; then, it focuses on detailed data to explore the current situation of urban energy consumption under the digital economy model; finally, based on the summary of the current situation, it puts forward practical and feasible suggestions, hoping to provide a decision-making basis for the implementation of policies in different types of cities and offer innovative ideas for promoting the high-quality development of urban energy systems.

The Effect of Income on Household Time Allocation Among Chinese Couples

Junchi Ma — 2025-11-05

Gender equalization has progressed considerably in all areas but has prolonged domestic work. Previous research suggests that income is essential in the distribution of time spent on housework between couples. However, there is still debate about how income works within Chinese households. Therefore, it is necessary to study how income influences the time spent on housework by Chinese couples. This paper uses data from The China Family Panel Studies (CFPS) in 2022 and selected married two-income households aged 18-65 as our study population. Based on the results of the study and the Nash cooperative game ‘divorce-threat’ model, the hypotheses were then regressed using the Tobit model. Robustness tests were then conducted using the OLS regression model and the replacement variables method. Finally, the impact of income on the distribution of household work time of Chinese couples was analyzed, followed by conclusions. Firstly, the allocation of housework time during working days is influenced by income factors, while the distribution of housework time on rest days is not influenced by income. Secondly, individual income is negatively related to own time spent on housework, while the spouse’s income is positively associated with wife/husband time. Thirdly, the wife’s relative income is “U” shaped, and the relative gain of the husband is “inverted U” shaped.

Research on the “Double Helix” Model of Strategic Human Resource Management in the VUCA Era

Yunchao Xia — 2025-11-05

Enterprises are facing problems such as the dynamic matching of talents and strategies, and the construction of organizational resilience. Based on this, this paper deeply explores the significance of the research on the “Double Helix” model of strategic human resource management in the VUCA era and the practical construction of the “Double Helix” model: the implementation path of key dimensions, aiming to achieve the coordinated progress of the two through strategies such as improving talent density, forging organizational resilience, and promoting the coordinated integration mechanism of the Double Helix, so as to provide scientific human resource management strategies for enterprises, help enterprises enhance their competitiveness in a complex and changeable environment, and achieve sustainable development.

Analysis of Enterprise Leadership Enhancement Strategies in the Generative AI Era

Shan He — 2025-11-05

Currently, the transformation and upgrading of digitalization have become a new task that enterprises urgently need to address. To further enhance the leadership of enterprise leaders, relevant enterprise staff should face up to the infinite possibilities that generative AI brings to enterprise management. Based on this, this paper will briefly analyze the value connotation of generative AI empowering the improvement of enterprise leadership and the relevant influencing factors, and discuss the strategies for enhancing enterprise leadership in the generative AI era, in order to promote the smooth progress of enterprises’ digital transformation and upgrading.

Digital Dissemination and Consumption of Cultural Symbols in Lingnan’s Traditional Villages

Xinrui Cai — 2025-11-05

Ancient villages in Lingnan serve as crucial carriers of Lingnan culture. Their abundant cultural symbols now face the dual task of inheritance and innovation in the digital era. Drawing on Stuart Hall’s encoding/decoding theory, this study explores how representative cultural symbols of Lingnan’s ancient villages are digitally translated and disseminated. By analyzing specific cases, it elucidates the logic of audience interaction and consumption during the decoding of these digital cultural symbols. This study aims to offer valuable insights for revitalizing ancient village culture and informing its sustainable industrial development.

Analysis of Optimizing Digital Marketing Strategies for EdTech Product Sales in Emerging International Markets

Tao Wang — 2025-11-05

Against the backdrop of deepening globalization and digital integration, emerging international markets, characterized by large populations, rapidly growing educational demands, and progressively upgraded digital infrastructure, have become pivotal hubs for educational technology (EdTech) enterprises to expand their global presence. However, the unique characteristics of these markets, including cultural diversity, divergent consumer behaviors, and uneven digital maturity, pose challenges to traditional digital marketing strategies. This results in EdTech products facing issues such as inefficient user acquisition, insufficient brand awareness, and suboptimal conversion rates. To address these challenges, this paper focuses on optimizing digital marketing strategies for EdTech product sales in emerging international markets. This paper focuses on the optimization of digital marketing strategies for Ed Tech product sales in emerging international markets. Through analyzing the pain points in the application of current strategies, this paper proposes a systematic optimization path from four dimensions: localized content construction, multi-channel coordination and integration, user life cycle operation, and data-driven decision making.

Digital Economy Empowering New Quality Productive Forces: A Review and Implications

Qu Bing — 2025-11-05

Currently, driven by the accelerated iteration of digital technologies such as big data, cloud computing, and artificial intelligence, the digital economy has become a crucial engine for generating new quality productive forces and promoting industrial upgrading. Building on a systematic review of the theoretical evolution and measurement methods of the digital economy and new quality productive forces, this paper outlines their enabling mechanisms, industrial synergy pathways, and policy practices, and summarizes regional disparities and spatial spillover effects. The main findings are as follows: First, the digital economy reshapes the traditional factor structure and significantly enhances total factor productivity through the permeation of data elements and technological innovation; Second, driven jointly by the consumer internet and the industrial internet, it optimizes supply–demand matching and service models while reducing operating costs and improving production efficiency; Third, policy environments and institutional coordination amplify the enabling effects, as evidenced notably in national big-data pilot zones and the “East Data West Computing” initiative. Looking ahead, empirical research should deepen the exploration of micro-level mechanisms and dynamic panel analyses, construct a measurement system of new quality productive forces that spans macro, meso, and micro scales, and investigate pathways for regional collaborative governance and green digital integration to address the complex challenges of the new era.

Research on the Impact of the Construction of Cross-border E-commerce Comprehensive Pilot Zones on China’s Export Transformation and Upgrading

Jiahui Zhao — 2025-11-05

Cross-border e-commerce has emerged as a new growth point in foreign trade. While the Dalian comprehensive pilot zone has made some progress, its development is constrained by issues such as the global economic slowdown, the relatively small scale of cross-border e-commerce, a high concentration of export commodities, imperfect information mechanisms, and high overall costs. To address these challenges, this paper explores the importance of the construction of the Dalian comprehensive pilot zone for cross-border e-commerce to the transformation and upgrading of exports. Based on my research project, “Research on Path Optimization of Financial Support for the Development of Advanced Manufacturing Clusters in Dalian,” this paper analyzes the current challenges and limiting factors and proposes corresponding countermeasures and suggestions.

Acceptance of Intelligent Interviews by College Graduates Under AI Empowerment: An SEM Approach

Yujing Wan — 2025-11-05

The Master Intelligent interview is based on the Stimulus-Organism-Response (SOR) theory, this study integrates key constructs from the Technology Acceptance Model (TAM) and the Theory of Planned Behavior (TPB), namely attitude and behavioral intention, to develop a dual-path model of how AI empowerment influences college graduates’ acceptance of intelligent interview technology. Taking AI empowerment as the independent variable, perceived risk and attitude as mediating variables, and behavioral intention as the outcome variable, the study employs questionnaire surveys and structural equation modeling (SEM) for empirical analysis. The results show that AI empowerment exerts a significant positive impact on attitude, perceived risk, and behavioral intention. Both perceived risk and attitude play significant mediating roles between AI empowerment and behavioral intention. Interestingly, perceived risk does not suppress behavioral intention; instead, it positively promotes it through a “rational trade-off” mechanism. Moreover, perceived risk and attitude form a significant chain-mediated pathway, revealing a continuous psychological transmission mechanism of “rational cognition-emotional adjustment-behavioral decision-making”. This study enriches the theoretical framework of AI technology acceptance, extends the application of the SOR model to the context of intelligent recruitment, and provides valuable implications for optimizing university career guidance and enterprise recruitment systems.

The Partial Centralization Decision for ClosedLoop Supply Chain Coordination with Trade-In Strategy

Mao Luo — 2025-11-06

To explore the impact of partial centralization on supply chain performance, this study constructs a two-period game model of a closed-loop supply chain involving a manufacturer and an online retail platform participating in the trade-in strategy. Through mathematical modeling and numerical simulation methods, the optimal decisions were analyzed under conditions where the manufacturer partially owns the retail platform’s partial equity. This study finds that partial centralization yields the highest profits, followed by full centralization, with decentralized decisions yielding the lowest profits. Moderate centralization enhances overall profits by optimizing incentive mechanisms, whereas excessive ownership concentration reduces the flexibility of the retail platform, leading to a decline in profits. Additionally, product durability and trade-in subsidy significantly influence supply chain profitability: high-durability products reduce renewal frequency, while trade-in subsidy effectively stimulates consumer demand and increase overall profits. This study provides theoretical support and practical guidance for companies implementing the trade-in strategy.

Research on the Influence of Financial Status of Benxi Steel Sheet Material on Stock Price Under the Perspective of Big Data

Rui Gao — 2025-11-06

Based on the financial data and stock price information of Bengang Steel Plates Co. Ltd. from 2004 to 2023, this paper uses SPSS 26 software, combined with DuPont Analysis and Wall Score Method, to explore the correlation between stock price and nine key financial indicators selected from three dimensions: profitability, development capability, and operating capability, including fixed asset growth rate, price-to-book ratio (P/B ratio), and gross profit margin. Through correlation analysis, multiple regression analysis, and curve fitting, the study finds that: fixed asset growth rate, P/B ratio, and gross profit margin show a significant positive correlation with stock price; return on equity (ROE), operating income, and accounts receivable turnover days show a significant negative correlation with stock price; earnings per share (EPS) and net profit growth rate do not show a significant correlation with stock price. The research results indicate that the stock price of Bengang Steel Plates Co. Ltd. is greatly affected by its asset scale and market valuation, while some profitability indicators have not been effectively transmitted to the stock price. Finally, countermeasures and suggestions are put forward from the aspects of cost control, technological innovation, market expansion, and financial structure optimization, so as to provide references for corporate operation and investment decisions.

Strategies for Enhancing the Competitiveness of Retail Chain Pharmacies in China in the Era of Pharmaceutical E-Commerce

Yuying Wang — 2025-11-06

With the rapid growth of the “Internet + Healthcare” model, pharmaceutical e-commerce has swiftly gained a substantial market share in China’s pharmaceutical retail sector, thanks to its competitive prices, convenient purchasing channels, and online consultation services. This has put considerable pressure on traditional retail chain pharmacies. This paper provides an overview of the current state of pharmaceutical e-commerce, and analyzes the main challenges faced by retail chain pharmacies, including intense price competition, changes in consumer habits, insufficient digitalization and severe homogenized competition. Drawing on industry practices and case studies, the paper proposes strategies to enhance competitiveness, such as promoting digital transformation and online-offline (O2O) integration, strengthening pharmacist services and health management capabilities, optimizing supply chain management, building differentiated brand advantages, and proactively responding to policy and regulatory requirements. The study argues that, while leveraging their advantages in specialization, community-based operations, service orientation and retail chain pharmacies, should actively embrace digitalization and industrial collaboration in order to achieve sustainable development in the context of e-commerce. This research provides theoretical references for the strategic transformation of retail chain pharmacies and offers practical significance for the high-quality development of the pharmaceutical retail industry.

Research on the Sustainable Development of Event Tourism in Luoyang from the Perspective of Sports- Tourism Integration

Yingying Zhang — 2025-11-06

As a renowned historical and cultural city, Luoyang boasts a wealth of tourism resources, including sports venues, natural landscapes, and cultural heritage sites, laying a solid foundation for the integrated development of the tourism industry and sports events in recent years, with remarkable achievements in practice. However, from the perspective of sports-tourism integration, Luoyang’s event tourism still faces a prominent issue of uneven development: a surge in tourists during peak seasons, leading to overcrowded attractions, and a scarcity of visitors during off-peak seasons, resulting in idle resources. This not only leads to inefficient resource utilization but also restricts the enhancement of economic benefits and hinders sustainable development. In light of this, this paper comprehensively employs literature research, case analysis, and fieldwork methods to systematically analyze the current development status of event tourism in Luoyang within the context of sports-tourism integration. The aim is to provide theoretical and practical support for achieving high-quality and balanced development of local event tourism, offering valuable references for addressing the issue of uneven development and moving towards a sustainable future.

Advances and Identification Challenges in Micro- Econometric Models of Firm Productivity

Hongyi Yang — 2025-11-06

Firm-level productivity analysis serves as a cornerstone for understanding the micro-foundations of economic growth, industrial competitiveness, and efficient resource allocation. This comprehensive review synthesizes and critically evaluates the primary statistical and econometric methodologies employed in the measurement and analysis of productivity at the firm level. We systematically delineate the evolution from traditional parametric techniques, such as production function estimation and Stochastic Frontier Analysis (SFA), to non-parametric approaches, including Data Envelopment Analysis (DEA) and the Malmquist Productivity Index. A significant focus is placed on addressing pervasive micro-level challenges, notably firm heterogeneity, measurement error, and endogeneity biases, which are endemic to firm-level data. The paper further explores recent methodological innovations, highlighting the integration of machine learning, quantile regression, and network analysis into the productivity research arsenal. By providing a structured guide for selecting and applying appropriate statistical tools, this review aims to equip researchers with the knowledge to conduct robust micro-level productivity analyses. Finally, we outline promising future research trajectories, emphasizing the potential of novel data sources and computational methods to deepen our understanding of productivity determinants.

Financial Performance Evaluation of Proya Company from a Stakeholder Perspective

Jiayue Liu — 2025-11-06

The continuous growth in per capita national disposable income has propelled the global cosmetics industry to significant growth over the past decade. Taking Proya Cosmetics Co., Ltd. as an example, this paper adopts a stakeholder perspective. By selecting financial indicators from Proya’s annual reports from 2017 to 2022, standardizing the data using SPSS software, and applying factor analysis, a series of financial performance evaluation models for Proya were constructed. A total of 15 listed companies in the same industry and Proya’s financial indicators over the past six years were selected for horizontal and vertical comparative analysis and evaluation. The analysis reveals that creditors, employees, and the government are the primary stakeholders influencing Proya’s financial performance. Based on these findings, corresponding strategies are proposed: safeguarding creditor interests from multiple angles; prioritizing value creation to enhance employee satisfaction; and strengthening social responsibility awareness while actively cooperating with government initiatives.

Digital Transformation Drives the Upgrade of Corporate Accounting Functions: The Transformation Path from Transactional to Value Management-Oriented

Hang Guo — 2025-11-06

The global wave of digitalization has accelerated the process of corporate digital transformation, placing higher demands on financial and accounting management. Since then, accounting work has shifted from the traditional transactional model to a modern value management-oriented model, leading to a transformation of accounting functions. As corporate managers, they must advance their work proactively, empower the modernization and innovation of financial accounting with digital technology, and transition to management accounting to ensure enterprises keep pace with the times. Therefore, this paper explores the current status of corporate financial and accounting work amid the digital wave, identifies the challenges in the transformation of accounting from transactional to value management-oriented, and finally proposes several feasible and effective improvement strategies, aiming to provide more references for relevant practitioners.

Analysis on How Digital Transformation Enhances Enterprise Supply Chain Resilience

Tianke Yang — 2025-11-06

In recent years, with the advent of the digital era, digital transformation has become a mainstream social trend. As a powerful driving force, digital transformation is profoundly changing the operation mode and management method of enterprise supply chains. Enterprises should seize this opportunity to continuously enhance supply chain resilience. Enhancing enterprise supply chain resilience based on digital transformation can not only improve the supply chain’s resistance and recovery capabilities, but also further enhance its innovation capability. This helps enterprises better respond to various unstable factors and provides protection for promoting the sustainable development of the supply chain. In this regard, this paper first expounds the multi-dimensional value of digital transformation in enhancing enterprise supply chain resilience, and then puts forward effective paths, aiming to provide certain reference for relevant researchers.

VAT Neutrality and Corporate Social Responsibility: Evidence from China’s 2018 VAT Credit Refund Reform

Ningning Zhang — 2025-11-06

Taking China’s 2018 value-added tax (VAT) credit refund reform as an exogenous shock to improve VAT neutrality, we use a difference-in-differences approach to explore how the reform affected corporate social responsibility (CSR). We find that the reform motivated firms to improve CSR performance. The reform has a “resource” effect, increasing internal funds and reducing financing costs, thereby enhancing firms’ ability to undertake CSR. The reform also has a “reputation” effect, stimulating firms’ willingness to engage in CSR to improve their reputations. CSR following the reform increases firm values and reduces bankruptcy risk. Our study provides fresh insights into VAT neutrality theory and is a reference for tax reform in emerging economies.

Research on the Theoretical Logic and Development Path of Artificial Intelligence Audit

Lei Zhu — 2025-11-06

With the deep integration of digital technology and the real economy, AI auditing has emerged as a core paradigm that breaks through the pain points of traditional auditing, such as “sampling limitations, post-event lag, and reliance on manual labor”. This paper systematically reviews the theoretical connotations of AI auditing, reveals its current practical status, deeply analyzes four core challenges: data quality, ethical compliance, talent adaptation, and institutional synergy, and proposes feasible development paths from four dimensions: technological optimization, institutional construction, talent cultivation, and industry synergy. The research indicates that AI auditing needs to be “based on data elements, driven by technological innovation, with institutional guarantees as the bottom line, and talent adaptation as the core”, and achieve an upgrade from “tool assistance” to “governance synergy” under the promotion of new productive forces.

Research on the Impact of Green Technology Innovation by Muyuan Group on Corporate Performance

Xiaojie Qiu — 2025-11-06

Against the backdrop of global climate change and tightening resource constraints, sustainable agricultural development has emerged as a central issue for countries worldwide in addressing environmental challenges. As a major agricultural nation, China’s livestock industry accounts for over 35% of the total agricultural output value, serving as a crucial pillar for ensuring national nutritional security and rural economic development. However, traditional farming models have long relied on high-density rearing, excessive use of chemical inputs, and end-of-pipe pollution control measures. These practices have resulted in greenhouse gas emissions accounting for 45% of the agricultural total, an annual generation of over 3 billion tons of livestock manure, and a resource utilization rate of less than 60%. This “high-input, high-emission, low-efficiency” development path has not only exacerbated ecological issues such as soil degradation and water eutrophication but also undermined the industry’s international competitiveness and consumer trust due to food safety hazards like antibiotic residues and heavy metal contamination. In this context, Muyuan Group has actively pursued green technology innovation to achieve simultaneous enhancement of economic and ecological benefits.

Quantitative Risk Modeling and Portfolio Construction with ARMA-GARCH: An Empirical Study on the S&P 500

Xiaoning Zhang — 2025-11-06

This study investigates the return dynamics, volatility structure, and risk characteristics of five representative S&P 500 stocks: Johnson & Johnson, Microsoft, NVIDIA, Coca-Cola, and Home Depot, using ARMA-GARCH models. Descriptive statistics and diagnostic tests confirm non-normality, negative skewness, fat tails, and volatility clustering, providing strong justification for conditional mean-variance modelling. Optimal model specifications are selected via the Bayesian Information Criterion, with EGARCH frameworks generally outperforming alternative GARCH variants in capturing asymmetric volatility responses. Rolling-window forecasts for 2024Q1 show that the models generate stable and reliable volatility predictions for low-volatility stocks (JNJ, KO), while performance is weaker for highly volatile stocks (NVDA), highlighting structural limitations under extreme market shifts. To evaluate risk management implications, one percent Value-at-Risk and expected shortfall were computed and backtested. Results indicated conservative tail-risk forecasts, with violation rates well within acceptable thresholds. Portfolio applications are further explored by constructing the Global Minimum Variance Portfolio (GMVP) and the Maximum Sharpe Ratio (Max SR) portfolio using rolling covariance estimates. Out-of-sample backtesting demonstrated that the GMVP delivered low volatility but modest returns, whereas the Max SR portfolio achieved significantly higher performance, consistent with the risk-return trade-off. Overall, the findings confirm that ARMA-GARCH models are effective tools for modelling conditional volatility and informing dynamic asset allocation. However, their limited adaptability to jump risk and nonlinear structural breaks underscores the need for more advanced modelling approaches in high-volatility environments.