Proceedings of Business and Economic Studies

The Concept of Stablecoins and Their Future Prospects

Hongfei Jiao — Fri, 26 Sep 2025 14:41:01 +0800

Based on the author’s study and research in the virtual currency course at Columbia University’s Pre-College Summer Program, combined with discussions with American virtual currency experts, this paper systematically analyzes the definition, operating mechanisms, types, regulatory policies, application scenarios, potential risks, future development, and relationship with the US dollar of stablecoins. The article uses ten core questions as the main thread, comprehensively exploring the position and prospects of stablecoins in the global digital financial landscape, aiming to provide readers with a panoramic understanding from concept to trend.

A Study on the Rail Transit Economic Field and Its Interactive Development Relationship with Cities from the Temporal-Spatial Perspective

Xiaorong Wang — Fri, 26 Sep 2025 14:43:41 +0800

As metropolitan areas expand spatially, they encounter constraints imposed by the fixed daily time budget. Rail transit enhances transport efficiency, reduces costs, and facilitates the formation of a “transit economic field” centered on rail networks, thereby alleviating such temporal-spatial pressures. This paper adopts an integrated temporal-spatial analytical framework. Following a conceptual clarification of the transit economic field, it dissects the mechanisms through which rail transit improves mobility and examines how this field influences urban spatial patterns, temporal dynamics, and their interrelationships. It constructs a theoretical framework to explain the co-development of transit economic fields and cities, supplemented by empirical case studies. The key findings are as follows: Firstly, the transit economic field represents a high-density development model that expands both horizontally and vertically around rail networks. It mitigates temporal-spatial conflicts. Secondly, with rail networks as the core, the field integrates diverse spatial functions, facilitating the establishment of economic connections and stabilizing temporal-spatial relationships. Thirdly, the transit economic field contributes to the preservation of urban natural ecosystems and enhances urban livability. Overall, this research can provide insights for promoting rail transit-oriented development transitions in large cities and urban agglomerations.

From Homo Economicus to the Rational Practitioner: Reconstructing Rational Choice Through Inner Cultivation in Journey to the West

Huimin Li, Tiechen Qi — Fri, 26 Sep 2025 14:46:45 +0800

This paper examines the classic Chinese novel Journey to the West through the lens of rational choice theory, with a particular focus on the logic of cultivation and behavioral decision-making. By incorporating the notion of “inner cultivation” (xin xing xiulian) into the analytical framework, we introduce the concept of the “cultivating economic agent,” aiming to explore how rationality is generated, evolved, and transcended throughout the spiritual journey. The study argues that, in the context of Eastern culture, rationality is not merely an innate or static faculty but one that can be cultivated and transformed. Through textual analysis of the behavioral trajectories of Sun Wukong, Zhu Bajie, and Tang Sanzang, we uncover a structured behavioral logic of “goal orientation–institutional discipline–purification of the mind.” The findings suggest that although cultivation behaviors are not utilitarian decisions per se, they exhibit rational characteristics such as goal stability, autonomous will, and embedded incentives.

Cultural Homogenization in Ethnic Minority Heritage Tourism: Responses from Xijiang Qianhu Miao Village

Yusha Zhong, Zhihong Tian — Fri, 26 Sep 2025 14:50:06 +0800

In recent years, the rapid expansion of heritage tourism within China’s ethnic minority regions has been accompanied by a significant challenge: the homogenization of cultural tourism imagery and experiences. This phenomenon adversely affects the sustainable development of local tourism industries. To foster the effective integration, preservation, and development of heritage tourism and ethnic cultures, this study presents a case analysis of Xijiang Qianhu Miao Village in Guizhou Province. Drawing upon field research and systematic analysis, the paper critically examines manifestations of homogenization across four key dimensions: cultural image representation, commercial operational models, experiential tourism methodologies, and the depth of cultural engagement. Based on these findings, the study proposes targeted strategies to optimize the cultural tourism experience within this specific context.

An Analysis of the Bidirectional Shaping Mechanism Between Short-Video Algorithms and Film Narrative Driven by the Attention Economy

Zhaoyang Dong, Shibo Zhang — Fri, 26 Sep 2025 14:53:31 +0800

This study examines the bidirectional shaping mechanism between short-video algorithms and film narratives within the attention economy. It investigates how algorithmic logic influences cinematic storytelling and how films, in turn, contribute to the aesthetic enhancement of short-video content. Drawing on Communication Accommodation Theory and Berry’s Acculturation Theory, along with case analyses and industry data, this research demonstrates that algorithms push films toward high-stimulus, fast-paced narrative patterns—characterized by increased shot density and structural fragmentation—to capture and retain viewer attention. Conversely, films counter this influence by supplying narratively deep and artistically refined content that elevates short-video aesthetics and encourages critical audience engagement. This dynamic reflects a process of mutual adaptation rather than one-sided dominance. The study concludes that such interaction signifies a broader restructuring of cultural production logic, facilitating cross-media convergence while simultaneously posing risks to cultural diversity due to the prioritization of high-traffic content. Balancing this relationship will require policy support, algorithmic transparency, and strengthened industry self-regulation to preserve artistic integrity and cultural ecosystem diversity.

Construction of a Marketing System for Leveled Mathematics Readers from a User-Oriented Perspective: A Strategy Optimization Study Based on the 4V Marketing Model

Zhaoyong Ouyang, Guanlin Liu — Fri, 26 Sep 2025 15:38:03 +0800

In the context of the continuous deepening of the “Double Reduction” policy and the growing demand for quality education, leveled mathematics readers, as an emerging form of publishing that integrates subject education and reading experience, face challenges such as unclear leveling logic, insufficient functional support, and weak user engagement. This paper introduces the 4V marketing theory and constructs an analytical framework from four dimensions: differentiation, functionality, added value, and resonance. Two representative products, “Climbing Mathematics” and “Spark Mathematics,” are selected for a typical case comparison to identify their strengths and weaknesses in content design, service systems, and brand operation, and to extract transferable strategic elements. The study finds that the user-value-oriented strategy based on the 4V model can effectively address the core issues in the market promotion and user relationship building of leveled mathematics readers, providing practical paths and theoretical support for educational publishing institutions to achieve product innovation and brand upgrading in this niche field.

Surpassing the Silence of the DSM: Discussion on the Digital Trade Dispute Resolution Path for China and the Global South Countries under the Paralysis of the WTO Appellate Body

Xuehao Yu — Fri, 03 Oct 2025 14:31:50 +0800

Since the appointment of new appellate judges by the World Trade Organization (WTO) was banned in 2019, the paralysis of the appellate body has seriously damaged the Dispute Settlement Mechanism (DSM), leaving a gap in resolving the escalating digital services trade disputes involving complex issues such as data flow and algorithm governance, and the existing WTO rules have failed to fully address these problems. Although MPIA offers a temporary alternative, its limited membership, uncertain executability, and untested applicability to new types of digital disputes make it inadequate. Meanwhile, the rising technological nationalism and fragmented regulations (such as the GDPR and the CLOUD Act) have exacerbated the global digital governance divide, marginalizing China and the countries in the Global South. This article analyzes the decline of DSM, highlighting the eroded rule predictability and legal fragmentation, and critically assesses the limitations of MPIA and the deficiencies of the traditional WTO framework in disputes such as data localization. A series of cases has revealed the trends of “pre-dispute governance” and unilateralism. In the face of this dual crisis, this article holds that China and the Global South must embark on a path of transformation from “system participants” to “system shapers,” rather than merely conforming. The strategies it explores include leveraging domestic regulations (such as data outbound security assessment), promoting regional cooperation (such as the mediation mechanism of RCEP), and advancing initiatives like the Global Data Security Initiative. This dual approach of maintaining “policy sovereignty” and establishing “compliance sovereignty” aims to ensure institutional autonomy, enhance rule-making capabilities, and establish a fairer, rule-based digital trade order in the context of DSM paralysis and regulatory fragmentation.

Bitcoin’s Weekend Effect: Returns, Volatility, and Volume (2014–2024)

Zhe Xu — Fri, 03 Oct 2025 14:34:50 +0800

Using daily BTC-USD data from September 19, 2014 to January 21, 2024, this paper re-examines whether weekends differ from weekdays for Bitcoin along three margins: average returns, close-to-close volatility, and trading activity. We implement Welch mean comparisons and HAC-robust OLS with month fixed effects (bandwidths 5, 7, and 14). In the full sample and across subsamples (2016–2019; 2020–2023; early 2024), we find no detectable weekend–weekday gap in average returns, while volatility and trading activity are lower on weekends. The patterns are robust to using squared returns as a volatility proxy. The joint evidence is consistent with liquidity and attention mechanisms—quieter weekends rather than compensating return premia. Replication files reproduce all tables and figures.

A Review of the Research on Supply Chain Relationships and Corporate Finance

Zhifeng Chen — Mon, 13 Oct 2025 15:24:58 +0800

The interaction between supply chain relationships and corporate finance has become a focal issue in academic and practical circles, especially under the dual drivers of globalization and marketization. This paper systematically reviews existing research on this topic, covering theoretical foundations from perspectives such as agency theory, stakeholder theory, and co-opetition game theory, which explain the nature of customer-supplier relationships. It also combs through empirical studies from four core angles: competition-cooperation, signal transmission, spillover effects, and information transfer, summarizing findings on how supply chain relationships impact corporate investment, financing, operations, and performance, as well as existing controversies. The aim is to clarify the research context, identify theoretical and empirical gaps, and provide theoretical support and direction for deepening future research on supply chain and corporate finance.

Generative AI-Driven Personalized Advertising: Automated Creative Generation and Effectiveness Evaluation

Xuan Su — Fri, 03 Oct 2025 14:38:05 +0800

Recently, generative artificial intelligence (GenAI) has developed into a new form of technology that can create copy, image, audio, and video content and adapt it to individual preferences on every channel and moment automatically. But most fail at proof-of-concept, as the pipelines needed to govern data, generate it controllably, deliver it, and do causal evaluation are absent or poorly aligned. This paper puts forward a practical end-to-end framework concerning personalized advertising driven by GenAI, which combines representation learning, constrained generation, and experimentation into a single operating cycle. First, we pick a modular architecture: profiles and contexts go into controllable large language and diffusion models that yield brand-safe assets under deterministic conditioning, which are chosen via a contextual bandit and vetted by policy and equality guardrails. Second, we give a measurement stack going from straightforward A/B/n tests to doubly-robust uplift modeling, making it possible to find out diverse treatment effects that are good to use in business metrics (incremental conversions and profit). Third, we operationalize latency budgets, humans in the loop, red teams, safety filters, and post-deployment monitoring with clear escalation paths. We focus throughout the paper on reproducibility, privacy (consent, privacy, differential privacy, on-device inference), and on GDPR/CCPA-like governance specifications. We end on our actionable blueprint, algorithmic choices, sample prompts, KPIs, and step-wise rollout to achieve trustworthy performance upgrades without putting creative quality, fairness, or compliance to the test.

Research on the Catalytic Role of Technology Services in the Digital Transformation of Small and Medium-Sized Enterprises

Xiaojun Min, Yuhong Li — Tue, 14 Oct 2025 08:43:06 +0800

This paper focuses on how technology services can help small and medium-sized enterprises (SMEs) overcome the digital transformation dilemma of “cannot transform (lack of know-how), dare not transform (fear of risk), and have no money to transform (lack of funds).” Using literature analysis and multiple case comparisons, the study summarizes five major categories of technology services: technical support, consulting and planning, training and empowerment, resource integration, and financing connectivity. It constructs a “service–capability–performance” catalytic framework. Tracking of 58 enterprises in the Yangtze River Delta reveals that resource integration contributes the most to digital maturity, with absorptive capacity playing a significant mediating role; the configuration of “high technology services + high absorptive capacity + high environmental dynamism” is a sufficient condition for high transformation performance. Based on these findings, countermeasures are proposed, including improving the technology service system, strengthening government-industry-academia collaboration, and optimizing funding and talent supply, providing replicable experience for SMEs, governments, and technology service institutions.

Research on Integrated Circuit Talent Stability Construction Based on Turnover Attribution in High-Precision, Specialized, and Innovative Enterprises

Mingjie Cheng, Ziying Chen, Xiayuan Huang, Zhixin Jian — Tue, 14 Oct 2025 08:49:17 +0800

With the intensifying competition in the integrated circuit (IC) industry, the high turnover rate of integrated circuit engineers has become a prominent issue affecting the technological continuity of high-precision, specialized, and innovative enterprises. As a representative of such enterprises, JL Technology has faced challenges to its R&D efficiency due to talent loss in recent years. This study takes this enterprise as a case to explore feasible paths to reduce turnover rates through optimizing training and career development systems. The research designs a method combining learning maps and talent maps, utilizes a competency model to clarify the direction for engineers’ skill improvement, implements talent classification management using a nine-grid model, and achieves personalized training through Individual Development Plans (IDPs). Analysis of the enterprise’s historical data reveals that the main reasons for turnover are unclear career development paths and insufficient resources for skill improvement. After pilot implementation, the turnover rate in core departments decreased by 12%, and employee satisfaction with training increased by 24%. The results indicate that matching systematic talent reviews with dynamic learning resources can effectively enhance engineers’ sense of belonging. This study provides a set of highly operational management tools for small and medium-sized high-precision, specialized, and innovative technology enterprises, verifies their applicability in such enterprises, and offers replicable experiences for similar enterprises to optimize their talent strategies ^[1].

The Impact of the Rise of Internet Celebrity Cities on Hainan’s Cultural Tourism Industry

Tianyi Feng — Tue, 14 Oct 2025 08:53:09 +0800

In recent years, numerous internet-famous cities have rapidly gained popularity on social media through their unique tourism appeal, attracting massive tourist flows and profoundly impacting local cultural tourism industries. This paper analyzes the reasons behind these cities’ breakout success and explores their development models, offering insights for Hainan’s cultural tourism sector. The study reveals that such urban phenomena primarily stem from four key factors: crafting distinctive city IPs, implementing innovative marketing strategies, providing premium travel experiences, and building community-driven city identities. Drawing from these lessons, Hainan’s cultural tourism industry should leverage its unique cultural resources to develop tourism IPs, adopt new media-driven marketing approaches, enhance service quality, strengthen brand building, and promote high-quality development to boost the region’s tourism visibility and competitiveness.

Strategies and Practices of Enterprise Human Resource Management in the Era of Big Data

Wei Gao — Tue, 14 Oct 2025 08:56:09 +0800

With the comprehensive development of modern information technology, big data technology has been integrated into various industries and has become a pillar technology supporting industrial upgrading and transformation. In enterprise human resource management, big data technology also has a broad application space and important application value. To gain higher market competitiveness and comprehensively improve the quality and efficiency of human resource management, enterprises need to rely on big data technology for comprehensive reform and optimization, thereby building an efficient, fair, open, and scientific human resource management model. This paper analyzes the problems and changes of enterprise human resource management in the era of big data, and then puts forward effective strategies for enterprise human resource management based on the era of big data.

Research on Tax Planning and Risk Prevention Paths for Multinational Enterprises under the Stricter International Tax Policy Environment

Jinge Zhang — Tue, 14 Oct 2025 08:58:55 +0800

As global economic integration accelerates, countries are strengthening tax transparency and information exchange. Policies such as the OECD’s BEPS Action Plan, digital services taxes, and a global minimum effective tax rate have been introduced, posing increasingly severe compliance and risk challenges for multinational enterprises. Building on an analysis of the evolution and trends of international tax policy, this paper combines literature review with case study analysis to examine how multinational firms can, on a compliant basis, leverage legislative and policy tools, optimize organizational structures, and arrange transfer pricing to achieve effective tax planning. We then propose an internal control framework encompassing tax risk identification, early warning, and monitoring. Our findings indicate that by dynamically adjusting group structures, judiciously applying double non‐taxation treaties, and deploying digital monitoring systems, enterprises can significantly improve planning efficiency while reducing noncompliance costs. Finally, we offer recommendations for enhancing internal governance, strengthening cross‐border coordination, and responding to policy changes, providing both theoretical guidance and practical reference for the stable development of multinational enterprises.

The Influence of Private Consumers’ Perceived Value on Sticky Behavior in the Digital Age

Ruiying Zhu — Tue, 14 Oct 2025 10:04:43 +0800

With the rapid development of the digital age, the perceived value of private consumers has changed to varying degrees, which has a profound impact on consumption stickiness. Based on the existing research results, this study constructs a model with four dimensions of perceived value as mechanism variables (namely, perceived functional value, perceived emotional value, perceived economic value, and perceived social value), and studies the influence of private domain consumers’ perceived value on consumption sticky behavior in the digital age. The empirical study finds that private domain consumers’ perceived functional value, perceived emotional value, and perceived economic value positively affect consumption sticky behavior, showing a relationship that sticky behavior increases with the increase of the above three dimensions, while private domain consumers’ perceived social value has a negative effect.

Research on the Impact of Digital Trade Rule Depth on China’s Digital Services Trade

Hua Xu, Quan Liu, Yuan Wang, Xin Chen — Tue, 14 Oct 2025 09:03:39 +0800

This paper empirically studies the impact mechanism of the depth of digital trade rules on China’s digital service trade exports and explores the improvement paths for China accordingly. Based on the transaction cost theory and other foundations, this paper systematically classifies rule provisions into four categories: access and facilitation, cross-border data flow, digital intellectual property rights, and privacy protection and data security. It also uses the gravity model of trade to quantitatively analyze 22 Regional Trade Agreements texts involving China. The empirical results show that: the depth of digital trade rules as a whole significantly promotes digital service trade exports; the core driving factors include the gap in digital infrastructure, differences in higher education levels, urbanization levels, and GDP gaps; all four categories of provisions show a significant positive impact, among which access and facilitation provisions have the most prominent promotional effect. Heterogeneity analysis further reveals that the depth of rules has a significantly stronger promotional effect on trade partners in developed countries than in developing countries; sector-specific tests show that the financial services sector benefits the most, while the intellectual property sector is inhibited. Based on this, this paper proposes that China should actively participate in the construction of global rules, improve digital infrastructure, deepen the implementation of provisions, orderly expand opening-up in the digital field, strengthen intellectual property protection to balance innovation incentives and market expansion, and improve laws and regulations to ensure data security.

Rural Revitalization and the Transformation of Xinhui Chenpi Industry: A Case Study of Policy Implementation and Development Pathways

Yuxin Yang — Tue, 14 Oct 2025 09:14:48 +0800

This paper examines the transformation and development of the Xinhui Chenpi industry under the rural revitalization strategy in China. The study highlights the significant growth of the industry, with the annual production of chenpi reaching approximately 7,000 tons and the total output value surpassing 26 billion yuan in 2024. The paper proposes strategies to foster sustainable growth in industries facing challenges such as inefficient production processes, inconsistent product quality, and a lack of policy awareness among operators. These strategies include optimizing support policies, enhancing regulatory frameworks, and leveraging digital technologies for brand building and market expansion. The research contributes to understanding the development trajectory of the Xinhui Chenpi industry and provides insights for policymakers and industry practitioners.

Market-Winning Strategies for Localized Autosamplers Amidst Intense Competition

Jing Ren — Tue, 14 Oct 2025 09:17:43 +0800

Autosamplers are indispensable key equipment in modern laboratories, playing a pivotal role in fields such as biomedicine, environmental monitoring, food safety, and materials science. However, domestic autosampler enterprises are facing formidable challenges, confronted by the technological barriers and brand dominance of international giants, as well as increasingly fierce homogeneous competition in the domestic market. This article aims to thoroughly analyze the current market landscape and, based on seven key dimensions—strategic positioning, product technology, sales channels, brand building, service and support, supply chain optimization, and talent development—propose a series of effective market-winning strategies. This will provide theoretical guidance and practical reference for domestic autosampler enterprises to achieve breakthroughs and sustainable development amidst fierce market competition.

The Impact of Female Executives on the Digital Transformation of Enterprises: An Empirical Study Based on Listed Companies

Meixi Zhang — Tue, 14 Oct 2025 09:20:25 +0800

This study employs leadership contingency theory and resource dependency theory, utilizing financial data from Shanghai and Shenzhen A-share listed companies between 2012 and 2021. Ultimately, data samples from 4,742 companies were selected to empirically examine the impact and moderating role of female executives on corporate digital transformation. Findings reveal that the proportion of female executives positively promotes corporate digital transformation. Further analysis indicates that female executives drive digital transformation by enhancing corporate innovation investment and risk control capabilities. Supported by the heterogeneity analysis, it shows that this effect is more pronounced in high-tech industries, non-state-owned enterprises, and companies in economically developed regions. This study provides a gender-perspective theoretical explanation for the drivers of digital transformation and offers practical insights for optimizing corporate executive teams.

Managing Brand Image in the Digital Era: A Strategic Analysis of Dove’s Advertising Controversy and Recovery Strategy

Suwen Xuan — Tue, 14 Oct 2025 09:23:28 +0800

Dove’s 2017 advertising incident, which sparked widespread debate regarding perceived cultural insensitivity, highlighted a disconnect between the brand’s “Real Beauty” positioning and public reception. In response, this study proposes a strategic digital recovery framework, including revised campaign content, transparent communication through social media, and data-driven customer segmentation based on diverse skincare needs and cultural backgrounds. A PESTLE analysis underscores the importance of digital transformation and rising social consciousness in brand management. Findings suggest that inclusive messaging, precision targeting, and omnichannel digital engagement are key to restoring brand trust and reputation in the digital landscape.

Research on the Application of Cash Flow Forecasting Models in Enterprise Investment and Financing Decisions

Chenxu Wang — Tue, 14 Oct 2025 09:27:14 +0800

Cash flow is a core element for enterprises to maintain operations and development. Cash flow forecasting models, through systematic analysis of an enterprise’s historical cash flow data, trends in operating activities, and external environmental factors, scientifically predict the scale, direction, and fluctuation of cash flow within a certain period in the future. This article focuses on the application of cash flow forecasting models in enterprise investment and financing decisions, sorts out the types and core functions of the models, analyzes their specific roles in investment project screening, financing plan formulation, risk prevention and control, and fund allocation, points out the existing problems in current applications, and proposes optimization paths. Research shows that the scientific application of cash flow forecasting models can enhance the accuracy and rationality of enterprises’ investment and financing decisions, and help enterprises achieve sustainable development.

A Study on the Risks Associated with On-Balance Sheet Recognition of Data Resources

Xia Xiao — Tue, 14 Oct 2025 09:30:25 +0800

This study focuses on the risks associated with the on-balance sheet recognition of data resources. At the legal level, disputes over ownership often arise due to unclear data property rights, while privacy protection, cybersecurity, and cross-border data flows create additional compliance challenges. In terms of recognition, the subjectivity of traditional valuation methods, the lack of active markets, and the rapid depreciation of data value caused by technological iteration hinder reliable measurement. With respect to disclosure, organizations face a dilemma between transparency and confidentiality. Collectively, these issues exacerbate audit risks. It is therefore imperative to establish an appropriate legal, accounting, and auditing framework to mitigate such risks and remove barriers to the proper recognition of data assets on balance sheets.

Research on the Impact of International Capital Flows on the Financial Stability of Emerging Economies

Shenghua Feng — Tue, 14 Oct 2025 00:00:00 +0800

International capital flows play a crucial role in the process of globalization, presenting both opportunities and challenges to the financial stability of emerging economies. This article sorts out the positive effects and potential risks of international capital flows on the financial stability of emerging economies. By combining case studies in recent years, it analyzes the complex relationship between cross-border capital flows and financial stability, and proposes policy paths for emerging economies to cope with the shock of capital flows, providing references for enhancing financial resilience and achieving sustainable development.

Traffic Forecast and Business Operation Optimization Strategy of Smart Tourist Attractions Driven by Big Data

Aihan Cao — Tue, 14 Oct 2025 09:36:11 +0800

In order to improve the competitiveness of smart tourist attractions in the tourism market, this paper selects a scenic spot in Shenyang and uses big data technology to predict the passenger flow of the scenic spot. Firstly, this paper introduces the big data-driven forecast model of scenic spot passenger flow. Based on the traditional autoregressive integral moving average model and artificial neural network model, it builds a big data analysis and forecast model. Through the analysis of data source, model building, scenic spot passenger flow accuracy, and modeling time comparison, it affirms the advantages of big data analysis in forecasting scenic spot passenger flow. Finally, it puts forward four commercial operation optimization strategies: adjusting the ticket pricing of scenic spots, upgrading the catering and accommodation services in scenic spots, planning and designing play projects, and formulating accurate scenic spot marketing strategies, in order to provide references for the optimization and upgrading of smart tourist attractions in the future.

An Exploration of Performance Appraisal in Human Resource Management of Public Institutions

Famai Ma — Tue, 14 Oct 2025 09:38:44 +0800

Public institutions constitute a vital component of China’s public service system, playing a significant functional role in the nation’s social development and construction. Human resource (HR) management is a vital component of internal administration within these institutions. The integration of performance appraisal is crucial for enhancing the effectiveness of HR management and facilitating the smooth operation of all institutional functions. Based on this premise, this article first briefly outlines the value of applying performance appraisal in the HR management of public institutions. It then explores strategies for implementing performance appraisal within this context, aiming to provide insights for promoting the sustained and healthy development of public institutions.

Research on the Influence of Enterprise Digital Transformation on Accounting Information Quality and Countermeasures

Yulu Han — Tue, 14 Oct 2025 09:41:32 +0800

With the progress of information technology, the digital transformation of enterprises has developed into a key strategy to improve competitiveness. This paper studies the influence of digital transformation of enterprises on the quality of accounting information and its countermeasures, discusses how digital transformation reshapes the ability of accounting information processing, transparency, sharing, and decision support, and analyzes the challenges in technology, management, and data security during this period. Through in-depth analysis, this paper puts forward a series of targeted countermeasures, including strengthening technology and system construction, optimizing management and processes, strengthening data security and privacy protection, and promoting the improvement of laws and standards, hoping to provide practical guidance for improving the quality of accounting information in the digital transformation of enterprises.

Impact of the Digital Economy on the Performance of China’s Petroleum Enterprises

Mengqi Wang, Ziyang Liu — Tue, 14 Oct 2025 09:45:37 +0800

The rapid development of the digital economy profoundly impacts global industries, presenting both opportunities and challenges for traditional sectors like petroleum. This study investigates the impact of the digital economy on the performance of Chinese petroleum enterprises, focusing on the mediating role of total factor productivity (TFP). Utilizing panel data from Chinese petroleum firms (2018–2023), we construct a macro digital economy development index (using the entropy method) and a micro-level enterprise digital transformation index. Empirical analysis employs panel data models and mediation effect models. Findings reveal that regional digital economy development significantly positively affects firms’ Tobin’s Q (coefficient = 0.516). Enterprise digital transformation significantly enhances Return on Equity (ROE) (coefficient = 27.456). Mediation tests confirm that TFP partially mediates the relationship between digital transformation and firm performance. Heterogeneity analysis shows differences based on ownership: regional digital economy development has a slightly stronger effect on state-owned enterprises’ (SOEs) market value, while its effect is statistically more significant for private enterprises. Conversely, digital transformation boosts ROE more significantly in private firms. The study concludes with policy recommendations, including promoting digital governance reform in SOEs, increasing support for private firms’ digitalization, building a digital technology innovation ecosystem to enhance TFP, and optimizing digital investment structures for better capital market recognition.

Research on the Application of Blockchain in Supply Chain Finance in Hainan

Tianhao Dong — Tue, 14 Oct 2025 09:48:33 +0800

This paper explores the application of blockchain in Hainan’s supply chain finance, analyzing its impact on enhancing market transparency, optimizing processes, and addressing challenges like information asymmetry and inefficient credit transmission. It examines technical and security issues such as scalability and cross-chain interoperability, proposing solutions like layered architectures and privacy computing. The study highlights blockchain’s role in empowering cross-border trade, tropical agriculture, and SME financing, aiming to provide a reference for Hainan Free Trade Port’s financial digital transformation.

Research on the Evaluation of the Ecological Niche of the Elderly Care Industry Based on the Theory of Situation

Fan Yin, Jing Gu, Ming Liu, Yadong Li, Tingting Zhao, Chunxia Zhao — Tue, 14 Oct 2025 09:53:19 +0800

The expansion of the scale of the elderly care industry, the acquisition of market share, and the seizure of high profits depend on the consistency between the ecological niche of the elderly care industry and the actual resource and environmental conditions. Based on the situation theory of ecological niche, this paper expands the factor of “energy” and represents the three dimensions of “state,” “potential,” and “energy” from three aspects: market niche, technology niche, and resource niche. Taking 220 listed companies as samples, this paper improves the traditional catastrophe progression evaluation model and uses structural equation modeling to test the validity of the indicator system, thereby conducting evaluation research on the ecological niche of the elderly care industry. From the results of niche potential energy measurement, the three dimensions of market niche, resource niche, and technology niche are unevenly developed, reflecting the lack of competitiveness of the elderly care industry.

Research on the Perception and Demand of the Integration of Agriculture, Culture, and Tourism in Farm Stays Based on Tourist Reviews: A Case Study of Chongqing City

Yaqin Dai, Min Kang, Meihong Yang — Tue, 14 Oct 2025 09:57:32 +0800

Against the backdrop of the strategies for rural revitalization and the integration of agriculture, culture, and tourism, farm stay, as a vital carrier, requires a systematic analysis of its resource integration effectiveness and the actual needs of tourists. Taking Chongqing City as an example, this study leverages tourist reviews from the Dianping platform (China’s leading consumer review site) and employs a combination of TF-IDF keyword extraction, SnowNLP sentiment analysis, and LDA topic modeling to dissect tourists’ perception characteristics and latent demands for agritourism resources from the demand side. The findings reveal that agricultural and tourism elements garner significant attention, while cultural resources are notably underperceived, indicating an imbalanced integration structure. Sentiment is predominantly positive, yet negative feedback highlights issues in service management, transportation, and homogenized experiences. Latent demands converge on three dimensions: deepening agricultural experiences, enhancing cultural participation and interaction, and improving environmental and service quality. Based on these findings, this study proposes integration enhancement strategies, including agricultural branding, cultural vitalization, service intelligence, and multi-faceted collaboration, to drive experience upgrades and sustainable development in farm stays, offering theoretical references and practical pathways for rural tourism integration in similar regions.

The Belt and Road from a Global Perspective

Zeju Zhao — Tue, 14 Oct 2025 10:00:03 +0800

The Belt and Road Initiative (BRI) is a project that has heavy emphasis on basic infrastructure and is sponsored by the government of the People’s Republic of China. It deeply impacts Africa’s economy in terms of its transport infrastructure investments. Railways, ports, and transnational infrastructure have been made not only as tools for economic integration and trade expansion between countries but also as ways of including people in development processes. Out of many BRI promises, one of them entails the potential to uplift peripheral areas, with the hope of giving these areas that have traditionally been expensive capitals and government investors a chance. Though the claims surrounding this initiative are robust, an interview with current practitioners on the ground brings to the fore a problematic concern: precisely to what extent have the rural poor across the wealthiest subregions of Africa, the continent’s least fortunate and most underserved populations, benefited to any significant degree from these infrastructure projects? An exploration of a central contradiction about the BRI: inevitably, it involves the fact that through BRI infrastructure, regions are connected to a better, easier trade system. However, sociopolitical benefits fully tend to be in the hands of the ruling elite, foreign contractors, and the urban centers. However, the majority of those citizens who most need economic injection will stand aside from either the decision-making process or be cut off from partaking in the ongoing benefits. Therefore, projects that should reverse existing disparities might actually maintain or even worsen the old problems. The research topic spans three transport works under the BRI in Africa, which are Tanzania Zambia Railway (TAZARA), Addis Ababa Djibouti Railway, and the Port of Djibouti, with the aim of assessing any poverty alleviation carried directly by these works among marginalized demographics. This paper collects data on project outcomes in more neutral and local indicators, such as job creation, market access, skills development, and recovery of tourist attractions. Pro-poor tourism literature as well as the theory of development are being discussed, and the point is made that the investment size is not the key to solving everything that will end all poverty. Instead, it is about the careful consideration behind each and every project’s design and execution as to whether it addresses the systemic poverty that has existed for a long period of time. Participatory planning, transparent governance, and common ownership of capacity building and community, as the last part of policy offerings, are the suggestions provided. These will determine if BRI infrastructure can be turned from a bilateral, top-down pattern of integration and interaction to a real field of multidimensional and accountable development in Africa.

China’s Responses and Strategies in Participating in International Digital Trade Rules Negotiations

Jingfan Zhu, Sujie Wei — Tue, 14 Oct 2025 10:02:53 +0800

Against the backdrop of profound reshaping of the current international landscape and the unprecedentedly rapid iteration of digital technologies, the global digital economy landscape and international trade rule system are entering a new era full of changes. Digital trade rules have emerged as a prominent focus in this field. Firstly, through a comprehensive review of sample data such as the WTO e-commerce proposals under the current multilateral framework, we can gain a profound insight into the negotiation practices of major economies regarding digital trade rules. In this context, China has demonstrated strong defensive interests in the “emerging” issues of digital trade, aiming to safeguard national data security and promote the healthy development of the digital economy. Therefore, when participating in the formulation of global digital trade rules, China needs to accurately strike a balance between offense and defense, contribute Chinese wisdom and solutions, and promote the construction of a fairer, more reasonable, and inclusive international digital trade governance system.