Financial ForumPub Date : 2021-12-14DOI: 10.18282/ff.v10i4.2613
Yiling Ren
{"title":"Common Problems and Analysis of Export Tax Rebate of Foreign Trade Enterprises","authors":"Yiling Ren","doi":"10.18282/ff.v10i4.2613","DOIUrl":"https://doi.org/10.18282/ff.v10i4.2613","url":null,"abstract":"After the financial crisis in 2008, China's foreign trade continued to develop and gradually matured in a complicated international situation. In 2020, China's foreign trade was severely impacted by the uncontrollable factor of the Covid-19 epidemic, thus presenting a \"different\" picture. The export situation of many foreign trade enterprises is not optimistic. China attaches great importance to the export tax rebate demands of foreign trade enterprises, and has issued many targeted measures to ease the pressure on enterprises to a certain extent. However, there are still some problems which affect the economic development of foreign trade companies and the tax burden.","PeriodicalId":242006,"journal":{"name":"Financial Forum","volume":"94 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123707110","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}
Financial ForumPub Date : 2021-12-14DOI: 10.18282/ff.v10i4.2349
Rongzhen Wu, Y. Begum
{"title":"Does Buffett’s Value Investing Strategy Really Work Well, Especially During the 2020 Epidemic? Evidence from the American Stock Market","authors":"Rongzhen Wu, Y. Begum","doi":"10.18282/ff.v10i4.2349","DOIUrl":"https://doi.org/10.18282/ff.v10i4.2349","url":null,"abstract":"Warren Buffett’s value investing strategy is famous around the world which is regarded as the key reason for his success. But due to the huge losses incurred by Buffett and Berkshire Hathaway during the 2020 epidemic, some people start to doubt the validity of the value investing strategy. Therefore, the research questions in this paper focus on the quantification, validity, and robustness of Buffett’s value investing strategy in the American stock market. Consequently, three results are drawn from this research: following the idea of Buffett’s value investing strategy, the B-score constructed by 6 sub-indexes can be used to quantify the stock’s value; the B-score had a decent ability to predict stock’s future returns from 2015 to 2019, which infers the validity of value investing strategy when the economy is booming; the B-score lost the ability to predict stock’s future returns in 2020, but this result is not adequate to deny the robustness of Buffett’s value investing strategy when facing the extreme situations like the 2020 epidemic for many reasons, which are discussed at the end of this paper.","PeriodicalId":242006,"journal":{"name":"Financial Forum","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132891777","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}
Financial ForumPub Date : 2021-12-14DOI: 10.18282/ff.v10i4.2220
Kefan Jiang
{"title":"The Impact of Strict Cancellation of Public Events Policy on the Stock Market Globally During the COVID-19: An Event Study","authors":"Kefan Jiang","doi":"10.18282/ff.v10i4.2220","DOIUrl":"https://doi.org/10.18282/ff.v10i4.2220","url":null,"abstract":"The article aims to evaluate the impact of cancellation of public events policy on the stock markets on a global scale. Three questions related to the policy would be researched. First, what are the patterns of the thirty countries’ abnormal returns during the event window? Second, how to explain the patterns of the average abnormal return and cumulative abnormal return of the sample during the event window? Third, does the strict cancellation of public events have a positive impact on the stock markets in terms of abnormal return? Researcher finds that the policy on aggregate has a negative impact on the stock markets among the thirty countries in the short term while a positive impact on the stock markets in the long term. The results indicate that the investors at first consider the policy would reduce economic activities so as to lead a negative effect on stock markets, but the policy has a great positive impact on restricting the growth of the confirmed cases due to COVID-19 which boosts the investors’ confidence on resumption of economic activities. Finally, the stock indices have a upward trend after the announcement of policy in the long term. The article can provide investment advice for investors when governments imposing the policy. The investors can invest in the stock indices on a global scale when there is a deep decrease in the stock markets due to the policy. Then it would earn a positive return around 20 days later.","PeriodicalId":242006,"journal":{"name":"Financial Forum","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115717832","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}
Financial ForumPub Date : 2021-12-14DOI: 10.18282/ff.v10i4.2612
Li-Hua Lin
{"title":"Motivation and Risk Control of Cross-Border M&A of Chinese Enterprises","authors":"Li-Hua Lin","doi":"10.18282/ff.v10i4.2612","DOIUrl":"https://doi.org/10.18282/ff.v10i4.2612","url":null,"abstract":"With the deepening development of the global economic integration, more and more Chinese enterprises have begun to implement the strategy of cross-border mergers and acquisitions. Despite many drivers pushing companies to adopt multinational M&A strategy such as the national policy, enterprise competitiveness, sales channels, to evade trade barriers, etc., but many risks implied by transnational merger and acquisition also to be reckoned with, such as decision-making risk, financial risk, valuation risk and integration risk, etc., of which motivation and risk and how to guard against risks, we need to study.","PeriodicalId":242006,"journal":{"name":"Financial Forum","volume":"258 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116548753","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}
Financial ForumPub Date : 2021-10-20DOI: 10.18282/ff.v10i3.2368
Yi Guo
{"title":"What Determines Supply Chain Risk in the Age of Globalization? Implications for Procurement and Logistics Risk Management","authors":"Yi Guo","doi":"10.18282/ff.v10i3.2368","DOIUrl":"https://doi.org/10.18282/ff.v10i3.2368","url":null,"abstract":"Supply chain is one of the most important parts for the company and supply chain management plays an increasingly important role in business development. Supply chain risk has become a major obstacle to supply chain management, and it makes a deep influence on company`s operation and development. The intricacies of the supply chain network structure, the external environment of uncertainty and supply chain managers excessive pursuit of lean, making the supply chain is vulnerability and the supply chain is increasingly vulnerable to various risks impact. Lean supply chain system which more and more companies used can provide the potential benefits, but with the pursuing the ability to respond faster and at lower cost, this system is becoming more and more fragile, and the impact of risks and uncertainties should be more sensitive. Globalization let supply chain have become more uncertainties. The company`s procurement and logistics part have covered different countries or area, which lead to the supply chain risk higher than before. This paper analyses the background and definition of supply chain risk in procurement and logistics. And collect and analyse the risk management method to assess, evaluate, identify, and manage supply chain risk.","PeriodicalId":242006,"journal":{"name":"Financial Forum","volume":"188 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132746528","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}
Financial ForumPub Date : 2021-10-20DOI: 10.18282/ff.v10i3.2221
Hang Yao, Xichang Yao, Yonggang Zhang, Yuan Li, Junsheng Liu
{"title":"Analysis on the Regional Types and Evolution Modes of Grain Production in China","authors":"Hang Yao, Xichang Yao, Yonggang Zhang, Yuan Li, Junsheng Liu","doi":"10.18282/ff.v10i3.2221","DOIUrl":"https://doi.org/10.18282/ff.v10i3.2221","url":null,"abstract":"By adopting the spatial transfer coefficient of grain production, this article divides the 31 provinces in China into three regional types of grain production, and on this basis, into six production evolution modes. This article studies the production and marketing structure of China in recent years by studying the regional types and the evolution modes of grain production, aiming at providing stronger theoretical support for the future development of grain production in China.","PeriodicalId":242006,"journal":{"name":"Financial Forum","volume":"178 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122593386","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}
Financial ForumPub Date : 2021-10-20DOI: 10.18282/ff.v10i3.2360
Qian Liu
{"title":"IPO Performance and Trademark","authors":"Qian Liu","doi":"10.18282/ff.v10i3.2360","DOIUrl":"https://doi.org/10.18282/ff.v10i3.2360","url":null,"abstract":"This study considers the relationship between trademark and IPO performance based on the 400 companies which went to public during 2012-2016 (before the trade disputes). The findings indicated that trademark could be a sign for IPO performance. In addition, the study illustrated IPO performance was related to ROA ratio before IPO. As for the method used in this study, I choose the linear regression model and logistic regression model to examine the hypotheses. The three hypotheses in this study are all related to the topic of trademark and IPO performance. Further, this study proved the positive relationship between trademark application times and money collected at IPO.","PeriodicalId":242006,"journal":{"name":"Financial Forum","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115312368","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}
Financial ForumPub Date : 2021-10-20DOI: 10.18282/ff.v10i3.2351
Lingyan Meng
{"title":"The Internal Relationship and Strategic Docking Between China's Free Trade Zone Services and the \"Belt and Road Initiative\"","authors":"Lingyan Meng","doi":"10.18282/ff.v10i3.2351","DOIUrl":"https://doi.org/10.18282/ff.v10i3.2351","url":null,"abstract":"In the context of the continuous deepening of the global economy and the adjustment and reconstruction of international economic and trade rules, China has proposed the development model of the \"Belt and Road\". The current development of China's \"Belt and Road\" and free trade zone services are all for better economic development. The strategies proposed are all new explorations of China's economic development in the new period of reform and opening up. China’s free trade zone serves as the economic foundation of the “Belt and Road”, and the “Belt and Road” construction is an extension of the economic development of the free trade zone. The scope of the “Belt and Road” is to strengthen economic cooperation and enhance the economic closeness with other regions, to a certain extent, the promotion of the \"Belt and Road\" can improve China's status and influence in the international status. Both the \"Belt and Road\" initiative and the establishment of China's free trade zone hope to realize the freedom of economic and trade activities and promote economic development in a good environment. The two strategies of the free trade zone and the “Belt and Road” strategy have continued to integrate, innovate and develop in terms of cultural exchanges, economic cooperation, and institutional learning. In order to make China's free trade zone and the \"Belt and Road\" have a deeper development, China still needs to go all out to optimize the construction of related systems in the future. Constantly optimizing the love makes it possible to achieve better results in both the free trade zone and the \"Belt and Road\", because the two promote the sound development of China's economy in order to provide the country's long-term development strategy with an economic financial foundation.","PeriodicalId":242006,"journal":{"name":"Financial Forum","volume":"91 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134007946","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}
Financial ForumPub Date : 2021-10-20DOI: 10.18282/ff.v10i3.2367
Xinlai Sun
{"title":"Innovation and Research of Commercial Economic Model under the Background of Economic Globalization","authors":"Xinlai Sun","doi":"10.18282/ff.v10i3.2367","DOIUrl":"https://doi.org/10.18282/ff.v10i3.2367","url":null,"abstract":"The globalization of capital has promoted the average growth of the economy. While distributing the fruits of economic growth, the majority of people pay more attention to the higher demand for material life. The increase in power consumption has brought about a change in consumption concepts. Millennials are the main force in the consumer market. On the one hand, due to economic conditions, reasonable consumption is required. On the other hand, they pursue the luxury and pleasure of a materialistic society. The globalized business process in the contemporary world seems to be continuously enhanced under the drive of economic globalization. What followed is that political multi-polarization has become more intense, cultural diversity has increased, and the pace and boundaries of scientific and technological informationization have increased. In the context of globalization, the rational logic of advancing the \"four modernizations\" undoubtedly provides impetus for the process of bringing people to peace and prosperity in the future, and clearly shows the many reasons for the theme of this period, so it is more comprehensive and in-depth development. There are many possibilities for human society to move towards modern commercial civilization.","PeriodicalId":242006,"journal":{"name":"Financial Forum","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114743364","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}
Financial ForumPub Date : 2021-10-20DOI: 10.18282/ff.v10i3.2366
Fengjing Han
{"title":"A Summary of the Research on the Top Management Team of Colleges and Universities","authors":"Fengjing Han","doi":"10.18282/ff.v10i3.2366","DOIUrl":"https://doi.org/10.18282/ff.v10i3.2366","url":null,"abstract":"<span lang=\"EN-GB\">The current academic research on top management teams (TMT) focuses on the characteristics of TMT, the relationship between TMT and organizational performance, and the relationship between TMT organizational strategy and organizational performance. The research on TMT in colleges and universities mainly focuses on the principal responsibility system under the leadership of the Party committee. As a </span><span lang=\"EN-US\">team </span><span lang=\"EN-GB\">that formulates development strategies, conduct</span><span lang=\"EN-US\">ing</span><span lang=\"EN-GB\"> performance management</span><span lang=\"EN-US\"> and </span><span lang=\"EN-GB\">stakeholder management, involving</span><span lang=\"EN-GB\">top talent evaluation, and other issues management, standing</span><span lang=\"EN-GB\">in a forward-looking position. Team operation plays an important role in performance improvement. The top management team is important for colleges and universities. The growth of the </span><span lang=\"EN-US\">team </span><span lang=\"EN-GB\">plays a positive role.</span>","PeriodicalId":242006,"journal":{"name":"Financial Forum","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124504500","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}