{"title":"How Investor Sentiment and Trade Conflicts Affect the Stock Markets","authors":"Kevin Gu, Yuxin Xie","doi":"10.1109/ICEMME49371.2019.00042","DOIUrl":"https://doi.org/10.1109/ICEMME49371.2019.00042","url":null,"abstract":"Recently, the trade conflict between the United States and China has become an international area of interest and a hot topic. This study wants to investigate the impacts of trade conflicts on both countries' stock markets. This research measures the changes in stock market prices from the perspective of behavioral finance. After eliminating the influence of macroeconomics through its representative indicators, this paper constructs an index reflecting investor sentiment using the principal component analysis. This work builds a regression model considering investor sentiment and the intensity of trade conflicts. The results show that there is an asymmetric influence of Chinese investor sentiment on the performance of the stock market. Comparatively, U.S. investor sentiment has a weaker impact on market performance. In order to denote the intensity of trade conflicts, this paper collects the frequencies of trade conflicts from newspapers and Google Trends. We find that trade conflicts have negative impacts on both stock markets and their major industries. Among the four selected industries, the market performance of the Chinese manufacturing industry was the most affected among all by trade conflicts, while the most affected market in the U.S. was the scientific research industry. This indicates that in the currently globalized field of production, the supply chains of the two countries are highly connected and raising tariffs will adversely affect the performance of industries in which the two countries are tightly correlated. In addition, this paper predicts the stock prices and returns of both stock markets in the future based on Ito's process. The results show that the stock performances with high trade conflict intensity behaves badly compared to those with low intensity.","PeriodicalId":122910,"journal":{"name":"2019 International Conference on Economic Management and Model Engineering (ICEMME)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129389100","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Residential Asset Pricing Prediction using Machine Learning","authors":"Yiyang Luo","doi":"10.1109/ICEMME49371.2019.00046","DOIUrl":"https://doi.org/10.1109/ICEMME49371.2019.00046","url":null,"abstract":"Residential asset price prediction and analysis are prevalent research topics in economy. Most researches focus on macroeconomy perspectives to explain the factors affecting residential asset prices. In this paper we examine some micro factors, like lot area, pool area, that can be used as features to predict house price. We fit a rather simple regression model which contains a few characteristics of a residential asset, and we are able to reach a fairly good result. Some machine learning algorithms such as random forest and support vector machine are also implemented to predict asset pricing. All regression models have a R squared over 0.9.","PeriodicalId":122910,"journal":{"name":"2019 International Conference on Economic Management and Model Engineering (ICEMME)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130104445","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Charismatic Rhetoric Modeling in Conference Call on Firm Political Risk Management","authors":"Mingqin Yu, Lei La","doi":"10.1109/ICEMME49371.2019.00019","DOIUrl":"https://doi.org/10.1109/ICEMME49371.2019.00019","url":null,"abstract":"Measuring and modeling rhetoric in the context of financial disclosures becomes essential as its important role in the becoming of present society and the increasing influence of corporations on economic management. We adapt rhetoric model rules from computational linguistics to construct a new measure of rhetoric (alliteration and rhyme) faced by earnings conference call of individual US firms and calculate rhetorical sentences ratio in the conference call transcript data to measure the rhetoric. We find rhetoric has a significant relationship with firm-level political risk and sentiment in the quarter of earnings conference call, which means managers' speech rhetoric will directly influence firm performance by its political risk. Our finding demonstrates the value of the rhetorical analysis by its empirical analysis in business disclosures and sheds light on future speech textual analysis research directions on firm management.","PeriodicalId":122910,"journal":{"name":"2019 International Conference on Economic Management and Model Engineering (ICEMME)","volume":"489 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124424934","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Heterogeneity of Institutional Investors Based on Feature Extraction of Investment Behavior and Overvaluation of Stock Price","authors":"Bing-Yue Liu, Chengli Zheng","doi":"10.1109/ICEMME49371.2019.00008","DOIUrl":"https://doi.org/10.1109/ICEMME49371.2019.00008","url":null,"abstract":"Based on the data of institutional investors in China's capital market from 2009 to 2017, this paper divides institutional investors into three types according to the characteristics of shareholding concentration and turnover rate: dedicated, transient and long-term dispersed, and examines the role of different types of institutional investors in overvaluation of stock prices. The empirical results show that: long-term dispersed institutional investors have a weakening effect on stock price overvaluation, while dedicated and transient institutional investors have the opposite effect; Analysts' concern strengthens the heterogeneous effect of these three types of institutional investors on stock price overvaluation.","PeriodicalId":122910,"journal":{"name":"2019 International Conference on Economic Management and Model Engineering (ICEMME)","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124232406","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Research on the Relationship between Environmental Government Subsidy and Enterprise Financial Performance","authors":"Aoxue Liu","doi":"10.1109/ICEMME49371.2019.00037","DOIUrl":"https://doi.org/10.1109/ICEMME49371.2019.00037","url":null,"abstract":"This paper choices all listed companies which obtain environmental government subsidy from 2012 to 2016 as a sample, and select environmental government subsidy from all kinds of government subsidies manually as study subject. Using ROA and Tobin's Q to measure the short-term financial performance and long-term financial performance of enterprises respectively, the study find that: environmental government subsidy and corporate financial performance shows a significant negative correlation. The innovation of this paper is that the research on government subsidies in the past was mostly limited to all kinds of government subsidies, and the paper distinguishes environmental government subsidies according to the purpose of subsidies and studies them, providing reference for the government to formulate subsidy policies and programs.","PeriodicalId":122910,"journal":{"name":"2019 International Conference on Economic Management and Model Engineering (ICEMME)","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126323429","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Time Series Calibration Model for NO2 Based on Multiple Linear Regression","authors":"Yan Xu, Shuangting Lan","doi":"10.1109/ICEMME49371.2019.00068","DOIUrl":"https://doi.org/10.1109/ICEMME49371.2019.00068","url":null,"abstract":"NO2 is one of the main air pollutants, and is the precursor of PM2.5, PM10, and O3 pollutions. Real-time monitoring of the concentration of NO2 can grasp the air quality in time and take corresponding measures to the pollution sources. Monitoring data may be affected by the internal factors and the external factors. ARIMA was used for the internal factor as A. Meteorological factors were taken as external factors, and the difference of NO2 between the standard data and monitoring data was taken as dependent variable. Multivariate linear regression was modeled as B. Time series calibration model was obtained Y=A+B. The error analysis showed that the accuracies of NO2 was improved. Therefore, the model based on ARIMA and multiple linear regression could effectively calibrate NO2 monitoring data.","PeriodicalId":122910,"journal":{"name":"2019 International Conference on Economic Management and Model Engineering (ICEMME)","volume":"115 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116067899","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Evaluation Research of Science and Technology Innovation Capability in Ulanqab - On the Basis of Time Sequence Model","authors":"Guohong Wang, Yuhan Wang","doi":"10.1109/ICEMME49371.2019.00070","DOIUrl":"https://doi.org/10.1109/ICEMME49371.2019.00070","url":null,"abstract":"Innovation is the first driving force for realizing development, and we must always adhere to the strategy of innovation-driven development. The party has proposed to accelerate the pace of building an innovative country in the report of the 19th National Congress, where technology innovation has gradually become an important factor in obtaining competitive advantage between regions. The technology innovation capacity of Ulanqab has been significantly improved with the continuous advancement of regional cooperation and development mechanism and the establishing and perfecting of the Cooperation Zone of Inner Mongolia, Shanxi, Hebei (Ulanqab, Datong and Zhangjiakou) and the Golden Triangle of Great Wall. This paper analyzes the current situation of the scientific and technological innovation in Ulanqab and the shortcomings in the development process and predicts the growth of high-tech enterprises in Ulanqab through establishing scientific and technological innovation evaluation index system and time series model to provide opinion support for the policy maker.","PeriodicalId":122910,"journal":{"name":"2019 International Conference on Economic Management and Model Engineering (ICEMME)","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132683527","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Research on the Influencing Factors of China's Logistics Industry Based on Multiple Regression Model","authors":"Qian Wu, Yinggui Qiu","doi":"10.1109/ICEMME49371.2019.00078","DOIUrl":"https://doi.org/10.1109/ICEMME49371.2019.00078","url":null,"abstract":"As a sunrise industry in China, logistics industry has made more and more contribution to the development of national economy. In order to explore the factors affecting the development of China's logistics industry, this paper uses the relevant data from 2003 to 2017, and selects cargo turnover, fixed assets investment (including transportation, warehousing and postal services) as independent variables, and logistics output value as dependent variables. Meanwhile, Eviews10.0 and SPSS24.0 software are used to conduct multiple regression analysis on China's logistics output value. The results show that both the turnover of goods and the investment in fixed assets have a positive effect on the logistics output value. At the same time, this paper carries out related tests and standardization on the model and puts forward some thoughts, which aims to provide some reference for the healthy development of China's logistics industry.","PeriodicalId":122910,"journal":{"name":"2019 International Conference on Economic Management and Model Engineering (ICEMME)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134477429","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"How Ethical Leadership Affects Employee's Creativity","authors":"Xiaowei Zhou, Dan-Dan Zhang","doi":"10.1109/ICEMME49371.2019.00123","DOIUrl":"https://doi.org/10.1109/ICEMME49371.2019.00123","url":null,"abstract":"Most of the existing research is devoted to studying the positive role of ethical leadership in employees and organizations. This study is based on social psychology theory such as social information processing theory and behavioral plasticity theory, revealing the negative influence of ethical leadership on employee creativity and its mediating mechanism. Conclusions can provide some management advice and suggestions for leaders. The study found that ethical leadership is significantly positively related to employee's dependence on the leader; core self-evaluation regulates ethical leadership's impact on employee's dependency on leadership. Ethical leaders can have a negative impact on employee creativity through employee's dependency on leader only when the employee has a low core self-evaluation. According to this conclusion, business managers can make appropriate adjustments to their leadership behaviors and achieve their management goals.","PeriodicalId":122910,"journal":{"name":"2019 International Conference on Economic Management and Model Engineering (ICEMME)","volume":"133 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132886966","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Calculating Method for Environmental Carrying Capacity of Low-Carbon Tourism in Coastal Areas Under Ecological Efficiency","authors":"Senyao Sang, K. Liu","doi":"10.1109/ICEMME49371.2019.00053","DOIUrl":"https://doi.org/10.1109/ICEMME49371.2019.00053","url":null,"abstract":"Based on the ecological perspective, this paper studies the environmental carrying capacity of low-carbon tourism in coastal areas, describes and measures the environmental carrying capacity and carrying status of low-carbon tourism by using state space method, constructs a model of environmental carrying capacity of low-carbon tourism, and quantifies the low-carbon tourism. Taking the aim of optimizing the economic benefits of tourism scale, social resources and ecological environment as the objective function.","PeriodicalId":122910,"journal":{"name":"2019 International Conference on Economic Management and Model Engineering (ICEMME)","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127260662","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}