Now China is opening up to the outside world at a high level. In the process of utilising foreign investment, it is significant to study how foreign direct investment (FDI) affects the formation of new quality productivity of enterprises in China. This paper examines the impact of FDI on new quality productivity of enterprises. Results using financial statement data of A-share listed companies and FDI level data of the cities where the companies are located from 2011 to 2020 show that FDI has a significant promotion effect on the enhancement of new quality productivity of enterprises. Further analysis reveals that the positive effect is generated through the channels of improving enterprise innovation ability and easing enterprise financing constraints, predominantly observed in non-state-owned enterprises. The test for moderating effect shows that a high degree of capital market openness has a significant positive effect on the formation of new quality productivity of enterprises influenced by FDI. The results of this paper provide a theoretical perspective of FDI for further research on the new quality productivity of enterprises.

With growing global attention on sustainable environmental development, green investment has become an important tool to drive the green transformation of the economy. Financial agglomeration areas, as capital-intensive regions, provide strong support for green technological innovation and eco-environmental projects. Additionally, the policy inclinations and investment preferences of financial agglomeration areas directly influence the flow and efficiency of green funds, further shaping the path of economic green transformation. Based on this, this paper selects panel data from 31 provinces in China (except Hong Kong, Macau, and Taiwan) over 15 years from 2007 to 2021. Using the fixed effects model, the study examines the impact of financial agglomeration on the scale of green investment and conducts a heterogeneous analysis of the effects in different regions of China, as well as proposing related policy suggestions. The results show that an increase in the level of financial agglomeration can significantly enhance the scale of green investment in a region, especially in the central regions. Compared to the eastern and western regions, the promotion effect of financial agglomeration is more pronounced in the central region.

With the popularity of social platforms and the increase in the number of users, the influence of Internet celebrities is growing day by day, and their commercial value is gradually being explored. However, a number of problems and challenges have been revealed. The lack of a long-term strategy is one of the problems facing the Internet celebrity economy. Difficulty in monetizing traffic is also a major pain point in the Internet celebrity economy; brand image risk and legal risk are also problems that cannot be ignored in the Internet celebrity economy. The paper aims to discuss the development status, characteristics and future trends of Internet celebrity economy marketing. Therefore, in order to promote the healthy development of Internet celebrity economy, it is necessary to enhance the stability and trust between the two parties; explore diversified monetization channels to improve the profitability of Internet celebrity. At the same time, strengthen the brand image management and legal risk prevention to ensure the compliance and sustainability of Internet celebrity economy.

In today’s digital age, enterprises are faced with the emergence of vast amounts of data. Thus, it is critical for those who have a large number of users to understand the pouring data and to extract information for accurate decision making. This paper suggests an interdisciplinary way to explain the regression results of mass user enterprises’ database, including a normal distribution curve of behavior, an unexpected correlation between factors and a few models built for specific business stratagems. These regressions are performed on a database of a game publishing company called Talent Game where game makers launch their masterpieces. The sociological and psychological methodology adapts perfectly for companies like Talent Games (TG) that establishing on the value of mass data. Finally, a controversial issue is that distributions and slope levels are found out, but some correlations are slight, which is conceived statistically skewed, and negligible in communication and sociology. Therefore, theories of the masses and statistical diagrams are coordinately shown.

With the popularization of Internet technology, the economic form has changed from single to diversified. As an emerging force in the economic field, the virtual economy has strong vitality and is sweeping all walks of life with unprecedented momentum. Traditional industries have experienced new vitality due to the rise of the virtual economy, which has also impacted the dominant structure of the real economy in the past, bringing new challenges and opportunities to the real economy. The virtual economy and the real economy, as two important components of the economic system, are inextricable. The paper commences by examining the relationship between real and virtual economies, utilizing the investigation method, literature research method and model method to analyze the definition and future development orientation of the real economy and the virtual economy, and is committed to the exploration of the coordinated development strategy of the two. Research shows that the virtual economy and the real economy are closely related, and the two are interdependent and affect each other. The development of the virtual economy plays a "double-edged sword" role in the real economy.

Against the backdrop of the new generation of information technology and the development trend of manufacturing servitization, this paper constructs comprehensive evaluation indicators for the level of digital development and the development level of productive service industries in the Beijing-Tianjin-Hebei region based on the entropy weight method. It also conducts a descriptive analysis of the digital development level in the Beijing-Tianjin-Hebei region. Further, by constructing a moderating effect model, this paper explores the influence mechanism of the digitalization level of the manufacturing industry on improving the efficiency of the manufacturing industry under the service-oriented manufacturing model in the Beijing-Tianjin-Hebei region. The research results show that service-oriented manufacturing can improve manufacturing efficiency, while the regional digitalization level plays a positive moderating role in this process.

With the integration of social media and e-commerce platforms, TikTok has become an important online shopping platform. This study aims to explore the online shopping behavior patterns of different user groups on the TikTok platform through cluster analysis methods. By designing and implementing a questionnaire survey, data on users' personal characteristics, usage habits, and purchasing behaviors were collected. Applying cluster analysis techniques, users were divided into different groups, and the characteristics of each group were deeply analyzed. This paper mainly focuses on identifying whether users’ characteristics are closely related to their shopping behaviors. This study finds that engagement with live streaming shopping, diversity of products purchased, and frequency of shopping on TikTok are key factors influencing their online shopping behaviors. This research not only provides targeted marketing strategy suggestions for the TikTok platform but also offers a new perspective for understanding e-commerce behavior on social media platforms.

This research uses a sample of 44 Chinese listed companies that announced and completed cross-border mergers and acquisitions (M&A) in 2017 and builds a ridge regression model using indicators such as return on equity, asset-liability ratio and equity multiplier from 2016 to 2022 to explore the sustained impact of capital structure adjustments on their operating performance. We found that the adjustment of capital structure after cross-border M&A presents an “N” shaped relationship with operating performance. This indicates that debt financing in cross-border M&A activities can enhance financial leverage and profitability in the short term but may lead to a decline in performance in the medium term due to financial pressure and integration issues. In the long term, as integration completes and debt is gradually repaid, performance is expected to recover and improve. Additionally, we offer suggestions for companies planning to undertake cross-border M&A, advising careful management of liquidity and economies of scale, optimization of debt financing strategies and ensuring the stability of performance from a long-term perspective. This research not only fills the gap in the existing literature on the impact of capital structure adjustments on operating performance in cross-border M&A but also provides empirical evidence for companies to formulate scientifically reasonable cross-border merger and acquisition strategies.

Previous researches have analyzed the effect of gender diversity toward financial performance toward the companies. This article aims to analyze the effect of gender situation toward capital structure on the whole A shares companies. The data mainly contain gender ratio of senior executives, gender of board of directors, firm size, industries classification, number of people on board, and of total remuneration of the top three directors. The previous two variables are the core explaining variable. The period is from 2010 to 2019 and the frequency is yearly. The OLS pooled regression and fixed effect model are chosen to analyzed. The results are not totally consistent with previous research suggesting the increase of female on the board, that is, increase gender diversity would definitely improve capital structure. The female board of directors will indeed make less debt financing compared with male board of directors. However, the female ratio in the senior executives is usually positively related with the D/E ratio. The possible reason is the overall conservative attitude of female can help them avoid overconfidence bias when using debt financing, and thus loan less debt and make the D/E be lower. However, on the other hands, it also makes female be too afraid of the lack of cash flow and may make more loan. Other parts of the results focusing on the control variable are consistent with previous researches and can be explained by classical financial theory.

The realization of performance-oriented transformation of financial intelligence in universities is an inevitable choice for universities to achieve high-quality education in the new era. How to achieve deep integration of university finance and intelligence transformation based on performance, and how to optimize the allocation of university resources based on the construction of intelligent platforms, are issues that need to be studied at the current stage. This paper first introduces the background of performance-oriented transformation of financial intelligence in universities, revealing the practical background of this research. Then, it starts with the connotation and significance of performance-oriented financial intelligence transformation, focusing on the system architecture of financial intelligence transformation in universities. It elaborates on the system architecture of financial intelligence transformation from four aspects: budgeting, execution, monitoring, and evaluation. Furthermore, platform design is conducted based on this, specifically introducing the construction of three major modules of the university intelligence platform: financial service system, financial data exchange center, and financial decision system. Finally, this paper puts forward some suggestions for the intelligent transformation of university finance.