Articles in this Volume

Research Article Open Access
Research on the Inventory Management in the Modern Business
Inventory management plays a pivotal role in modern business operations, impacting operational efficiencies, financial security, and competitive advantages. This essay explores the multidimensional field of inventory management, delving into seminal research articles. It shows how accounting methods and strategic decision-making interact, shaping operational pathways. Operations research guides inventory management strategies' effectiveness assessment. Creating a culture of continuous improvement based on empirical observations is equally crucial. Innovations, like structured Markov Decision Processes (MDPs) with convex cost functions, bridge theory and real-world applications. The essay also examines forecasting errors' implications when relying too heavily on predictions, highlighting optimal control techniques as resilience tools in volatile environments. Contemporary inventory strategies balance precision and adaptability, focusing on supply/demand synchronization. Empirical case studies exemplify efficient responses to market changes. Variability management in inventory frameworks offers insights into resource allocation across diverse product lines. Lastly, the essay deconstructs the strategic implications of asymmetric sales changes on inventory strategies. In a globalized, technologically dynamic age with shifting market forces, prudent inventory management is imperative. This essay showcases its significance with empirical wisdom and academic rigor, illuminating quantitative precision, strategic insight, and operational excellence in modern business environments.
Show more
Read Article PDF
Cite
Research Article Open Access
Analysis and Forecast of China's Unemployment Rate
Article thumbnail
The unemployment rate is an important economic indicator that measures the proportion of the unemployed labor force. The natural unemployment rate is the normal unemployment rate based on economic fluctuations. Analyze the unemployment rate to determine its root causes. By forecasting the unemployment rate, people can obtain an estimate of the future conditions of the labor market. Not only can the government make policy adjustments based on this, people can use this prediction to make wise career choices and planning, or to learn the necessary skills. The risk of unemployment is closely related to everyone, especially now during the economic downturn due to the impact of global catastrophic events such as COVID-19. Understanding the unemployment rate is an important part of analyzing the characteristics of the current labor market. If we can make more connections about the labor market and even make rough predictions about future trends, college students will be able to make future career choices that are more suitable for them. This study predicts the unemployment rate in the next nine years based on China's unemployment rate from 2012 to 2022, which will fluctuate within a fixed range. The government can increase spending (such as on education) and use monetary and finance polices to ensure that unemployment does not exceed forecasts.
Show more
Read Article PDF
Cite
Research Article Open Access
Effective Redistribution of Donated Resources – Application of Top Trading Cycles Algorithm
Article thumbnail
Governments and people of many countries have paid more attention to the action of subsidizing people in distressed areas in all aspects. However, many donated resources cannot be accurately allocated to the poor who need them most, which will lead to waste of resources and inefficiency of poverty alleviation. This paper considers the perspective of poverty alleviation through education, and focuses on the problem of imprecise assignment of donated books. This problem is an important issue that needs to be solved immediately, as education for students in less developed areas is a very essential part of helping them get rid of poverty. Reading appropriate books can help improve their cognitive ability and make students develop in a better direction, inspire them to take the initiative to develop in a better direction. This paper applies the Top Trading Cycles algorithm proposed by Shapley and Scarf in 1974 to solve this problem, which can enable students to rematch the donated books they think are useless and exchange them for more suitable books.
Show more
Read Article PDF
Cite
Research Article Open Access
Limitations and Critique of Modern Portfolio Theory: A Comprehensive Literature Review
This paper employs a systematic literature review approach to select and summarize 12 papers published within the past five years. It critically assesses the limitations of Modern Portfolio Theory (MPT), including its reliance on the assumptions of a strong, efficient market, rational investor behaviour, and excessive dependence on historical data. Furthermore, the paper explores how emerging theories such as Behavioral Portfolio Theory (BPT) and Behavioral Finance offer remedies for the deficiencies in traditional investment theories. Through a comprehensive review of relevant literature, the study delves into the strengths and applications of these theories and investigates whether they can offer more rational and adaptable investment strategies for investors and decision-makers. The authors assert that the emergence of these emerging theories expands the range of choices and possibilities within the field of finance, potentially assisting investors in better navigating market uncertainties and complexities while enhancing the effectiveness of investment decisions. Consequently, this research underscores the significance of considering emerging theories in portfolio construction to adapt to the ever-changing financial landscape.
Show more
Read Article PDF
Cite
Research Article Open Access
Investor Investment Strategy from Discounted Dividend Model Perspective
Stocks, as a security in economic life and widely chosen by investors. The decision-making process of whether to allocate capital to stocks or not necessitates the employment of analytical methodologies, prominently including the assessment. This study employed, the 2-stage Dividend Discount Model, a classic model in stock price evaluations. Mitsubishi Heavy Industries, Ltd. (MHI) was selected as an example, on the basis of fundamental financial data and fundamental market information, the case study will determine the intrinsic value of MHI's shares. The analysis proffers that MHI’s stock exhibits an undervaluation, warranting investors to consider a strategic position of acquisition and retention until equity valuations converge or above the intrinsic worth. In addition, the study simultaneously discusses the issues that need to be taken into account when using the model and analyses the problems with the model itself. The research also emphasizes the need to consider these findings alongside other factors, and additional valuation models for more accurate investment decision-making.
Show more
Read Article PDF
Cite
Research Article Open Access
Portfolio Theory Application and Enhancement in the Chinese Stock Market
Article thumbnail
Portfolio Theory is commonly used in funds management because it lowers risk and maximises return rate. As the research progresses, the big gap in its efficiency in the Chinese stock market must be filled. Therefore, the main topic for this paper is the Portfolio Theory's application in the Chinese Stock Market and what improvements could be made. This research method is as follows: 1) collecting relative papers through databases after filtering, 2) classifying papers' purpose and results, and 3) analysing their conclusions and summarising the current state of Portfolio Theory in China. This paper discovers the increasing suitableness of the Portfolio Theory in the Chinese stock market and derives several methods for improvements, such as taking risk attitudes, stock preferences, and skewness into consideration. In addition, variation of asset choices during crises such as COVID-19 is considered to optimise the portfolio. In conclusion, the Chinese stock market still shows immaturity in many aspects. For example, it is suggested that governments make policies to keep companies' cash flow transparent.
Show more
Read Article PDF
Cite
Research Article Open Access
The Limitaitons and Alternatives of CAPM
The Capital Asset Pricing Model (CAPM), a conventional financial model, has undergone extensive testing. This research critically examines the limitations of CAPM from four distinct perspectives and offers alternative frameworks. Specifically, this paper delves into these issues through the lens of the Conditional CAPM. Traditionally, CAPM has been viewed as a simplistic single-factor model. The limitations addressed here encompass temporal constraints, uniform expectations, the role of consumption factors, and underlying assumptions of rationality. This study employs a systematic literature review methodology to conduct its analysis. Through carefully selecting samples, our investigation reveals a correlation between the number of papers published and the years in question. Furthermore, certain keywords surface more frequently, indicating emerging phenomena and trends. However, our primary focus remains aligned with the research inquiry, leading us to select 12 samples for in-depth exploration. Ultimately, this paper argues that the Intertemporal CAPM (ICAPM) may ameliorate the time-related constraints inherent in traditional CAPM. Additionally, the Liquidity CAPM (LCAPM) factors in liquidity considerations, offering improvements to CAPM. The Consumption CAPM (CCAPM) augments CAPM's comprehensiveness by introducing consumption factors. Furthermore, the alpha-neutral CAPM and the sentiment-scaled model both acknowledge the influence of investor behaviour on asset pricing.
Show more
Read Article PDF
Cite
Research Article Open Access
Investment Strategy Analysis of The Gambol Pet Group Company Based on the FCFE Model
Article thumbnail
The pet industry has experienced rapid global growth in recent years, with prominence in the Chinese market. Notably, on August 16, 2023, Gambol Pet Group Co., Ltd., one of the leading companies in this sector, successfully debuted on the A-share market, generating substantial interest from the public. This development has positioned Gambol Pet Group Co. as an appealing investment opportunity, prompting extensive discourse among investors. This paper conducts a comprehensive analysis of Gambol Pet Group Co., Ltd. to enhance investor understanding and facilitate informed investment decisions. The research encompasses an evaluation of the company's financial performance, a depiction of its business landscape, and an exploration of both internal and external risks. Employing the Free Cash of Equity method (FEFE), this study endeavors to provide a sound assessment of the intrinsic value of Gambol Pet Group Co., Ltd. The findings of this analysis reveal a generally stable trajectory in the price per share of the company. This outcome suggests that investors may find Gambol Pet Group Co., Ltd. an attractive option for potential investment.
Show more
Read Article PDF
Cite
Research Article Open Access
Literature Review on the Net Present Value Method of Project Investment Decision
Net present value method is one of the most commonly used evaluation methods in enterprise investment decision, which has great influence on the success of investment. Its research has important theoretical reference significance for enterprise investment decision. This article provides the current status of NPV in actual investment practice and decision making. This paper summarizes the similarities and differences of the definition of net present value from the related theories, concepts, formulas and economic significance. This paper further discusses the advantages and limitations of its application in theory and practice, and draws a relatively widely accepted conclusion about the advantages and limitations of net present value by elaborating the viewpoints of many scholars. Then, the potential optimization measures of net present value method are introduced. Finally, on the basis of summarizing the main viewpoints and contents of the existing research, the possible future research trends and directions of NPV are put forward.
Show more
Read Article PDF
Cite
Research Article Open Access
Research on the Impact of the Adjustment of Fertility Policy on China's National Economy and Society
Since the family planning policy was put into effect, the aging of the China’s population has become more and more serious, which has hindered China’s economic and social development. In order to alleviate or even change this trend, China has decided to encourage childbirth and has successively issued the universal two-child policy and Three-child policy. This article adopts literature research and case analysis methods to study the effect of the adjustment of fertility policies on China’s national economy and society from six aspects. At the same time, the influence of Japan’s fertility policy on China’s fertility policy in response to its “Sub-replacement fertility” problem, which has similar population issues to China, was analyzed. Finally, based on the analysis of the changes brought about by the adjustment of the fertility policy in China, several suggestions were put forward for the adjustment of China’s fertility policy based on future population trends, providing a reference for the formulation of China’s fertility policy.
Show more
Read Article PDF
Cite