Scientific Journal of Economics and Management Research
Scientific Journal of Economics and Management Research (SJEMR) is a monthly online, international, peer-reviewed journal. All articles published are rigorously and fast reviewed meeting the Journal Quality standards. SJEMR is dedicated to publish empirical, academic, theoretical and review research articles that contribute to the practice in economics, management, and related topics. All articles published are rigorously and fast reviewed meeting the Journal Quality standards.
Analysis and Research on the Present Situation and Fairness of Resource Allocation of Pension Institutions in Southwest China
Based on the panel data of five provinces and cities in Southwest China from 2019 to 2023, this study uses Gini coefficient and Theil index to evaluate the fairness of resource allocation of pension institutions in five provinces (cities, districts) in Southwest China from two dimensions of population and geography. The results show that the Gini coefficient of resources allocated according to the elderly population is mostly lower than 0.2, which is in a highly fair range, in which the number of institutions and beds is the most balanced, and the unfairness of professional and technical personnel allocation is improving year by year; Theil index analysis shows that the fairness of resource allocation is continuously optimized, and the imbalance of human resource allocation is gradually alleviated. The research shows that the allocation of resources for the aged institutions in Southwest China is fair according to the population, and the distribution of resources and the elderly population basically matches, but the layout of human resources still needs to be further optimized to ensure the accurate docking of service demand.
Allocation of Endowment Resources; Elderly Care Service; Southwest of China; Gini Coefficient.
Copyright (c) 2026 Scientific Journal of Economics and Management Research https://creativecommons.org/licenses/by-nc/4.0
How Financial Performance Shapes Corporate ESG Performance under China's "Dual Carbon" Agenda: Mechanisms and Heterogeneity
China's "dual carbon" agenda has pushed listed companies to treat ESG performance not only as a disclosure item, but also as a measurable dimension of sustainable competitiveness. Against this background, this study examines whether stronger financial performance gives firms the capacity and incentive to improve ESG outcomes. Using A-share listed companies in Shanghai and Shenzhen from 2011 to 2022, the paper applies panel regressions with firm fixed effects and conducts additional model checks. The evidence indicates that Return on Assets is positively associated with corporate ESG ratings in the baseline model, and the conclusion remains supported when alternative ESG and control-variable measures are used. The analysis also shows two boundary conditions: the positive association is weaker for firms with longer listing age, and it is more visible among eastern-region firms and large-scale enterprises. The study contributes to the discussion on how financial resources are converted into ESG practices under low-carbon transition pressure, and it offers implications for resource allocation, differentiated ESG governance, and market-oriented policy incentives.
Dual Carbon Goals; Financial Performance; ESG Performance; Listed Companies; High-quality Development.
Smart "Last-Mile" Delivery of Fresh Cold Chain based on Customer Green Preference
With the acceleration of urbanization and the vigorous development of fresh e-commerce, against the backdrop of the "Dual Carbon" goals, the "last-mile" delivery of the fresh cold chain has become a critical link in the logistics field. Based on customer green preferences, this paper analyzes the current situation and pain points of fresh cold chain delivery from perspectives such as cold chain logistics, and discusses the construction and optimization strategies of smart delivery models. The research provides a theoretical basis for fresh e-commerce enterprises to optimize delivery services and offers references for policymakers to promote the green and intelligent development of "last-mile" fresh cold chain delivery, supporting the high-quality development of the logistics industry.
Circular Economy; Green Logistics; Fresh Cold Chain Logistics; Last-Mile Delivery.
The Choice Behavior of Financial Asset Allocation of Chinese Residents: Based on CHFS2017 Research
With the overall increase in household income in China, more and more Chinese residents are beginning to pay attention to the allocation of household assets. Financial assets are the main channel for household participation in investment, and the allocation of investable household assets across various subcategories of financial assets is an important aspect of household financial asset allocation decisions. The household financial asset allocation studied in this paper mainly focuses on household investment behavior in financial risk assets, including two aspects: the first aspect is the choice of whether to invest in financial risk assets, which reflects the breadth of participation of Chinese household residents in financial risk asset investments; the second aspect is the proportion of financial risk assets held by households in total household assets, reflecting the depth of participation of Chinese household residents in financial risk investments. The purpose of this study is to identify the degree of influence and interrelationships among various factors affecting household financial asset allocation in China, and to provide effective recommendations for household financial asset allocation in China based on the research findings.
Family Financial Assets; Risky Assets; CHFS2017.
Research on the Construction of Typical Application Scenarios of Artificial Intelligence in Wuzhou from the Perspective of New Quality Productive Forces
With the breakthrough development of generative artificial intelligence technology, AI is transforming from a technological novelty into a core productivity engine. As an important industrial city in Guangxi, Wuzhou boasts distinctive industries, including renewable energy, Liubao tea, and artificial gemstones. However, its overall level of digitalization and intelligentization remains low, and the traditional factor-driven development model is no longer sustainable. There is an urgent need to develop new quality productive forces and drive industrial transformation and upgrading via AI technology. Based on a review of the connotation and classification of typical AI application scenarios, and drawing on the experience of advanced cities both at home and abroad, like Singapore, Shenzhen, and Hangzhou, this study deeply analyzes five major problems facing Wuzhou in promoting the construction of AI application scenarios: the lack of exploration of scenario demands, the weak technical supply capacity, the underutilized value of data elements, the shortage of professional talents, and the inadequate social awareness. In response to these problems, this paper suggests a systematic approach to countermeasures, including deepening industrial integration, strengthening technical supply, activating data value, enhancing talent cultivation and introduction, and improving social awareness. The goal is to offer a theoretical foundation and a practical route for building AI applications that are replicable, scalable, and typical in Wuzhou, so that the city can exploit new technological opportunities and achieve high-quality development.
Artificial Intelligence; Typical Application Scenarios; Wuzhou; New Quality Productive Forces; Policy Recommendations.
Research on the Structural Contradictions in Talent Supply and Demand in Donghu Technological Development Zone
Driven by innovation, there is a widespread structural contradiction between "difficult recruitment for enterprises" and "difficult employment for graduates" in high-tech industrial agglomeration areas. Taking East Lake High-tech Zone (Optical Valley) as an example, through the three-dimensional analysis framework and mixed research method, this paper finds that the root of the contradiction is not the mismatch of professional names, but the disconnection between learning and application and the lack of practical ability. The fundamental reason is that there is a significant time lag between the iteration speed of industrial technology and the renewal of university curriculum.
Structural Contradiction; Disjunction between Learning and Application; Industrial Technology Iteration; East Lake High-tech Development Zone.
Judicial Interpretation III of the Marriage Law and Household Income Inequality
The promulgation of the 2011 Amendment to the Marriage Law-Judicial Interpretation III-provides the empirical setting for this study. This study treats it as an exogenous shock and examines how household income inequality evolved before and after the amendment. First, household income inequality increased following the promulgation of Judicial Interpretation III of the Marriage Law in 2011, relative to the pre‑reform period. This finding remains robust to alternative inequality measures. Second, heterogeneity analysis indicates that this widening pattern of household income inequality is more pronounced in households where the wife holds property ownership.
Judicial Interpretation III of the Marriage Law; Household Income Inequality; Heterogeneity Analysis.
Xiaomi's Global Expansion: The Extensions of Its Ecosystem and Fan Economy
This paper provides an in-depth analysis of the background, model, opportunities, and challenges of Xiaomi's global expansion, aiming to reveal the company's unique strategies and the global environment it faces. Through literature review and data collection, it was found that Xiaomi has successfully penetrated overseas markets by leveraging its mature domestic business model, ecosystem product advantages, and successful experience in fan-based economy, achieving certain accomplishments within the broader context of the Internet of Things (IoT) development. However, Xiaomi's global expansion also faces a series of uncertainties brought about by economic globalization. Through the research and discussion of Xiaomi's global expansion, this paper also offers a brief analysis and outlook on the global expansion of Chinese enterprises, with the hope that Chinese companies will better step onto the world stage in the future.
Xiaomi; Global Expansion; Chinese Enterprises.
Spatiotemporal Evolution Characteristics and Influencing Factors of the Pearl River Delta Urban Agglomeration
Pinpointing the driving forces and spatiotemporal variances in the evolution of urban agglomeration landscape patterns is key for enhancing territorial spatial development and attaining high quality regional growth.Taking Guangzhou and Shenzhen, the core cities of the Pearl River Delta, as cases, this study constructs a four-dimensional driving factor system. The system includes natural constraints, socioeconomic factors, infrastructure, and policy planning. Based on 2015-2023 panel data, the Geographically and Temporally Weighted Regression (GTWR) model is employed to analyze their spatiotemporal impacts. The results show that: (1) Topographic relief is the core natural constraint: Guangzhou has long been under high-intensity topographic constraints, while Shenzhen remains at an extremely low level. (2) Socioeconomic driving forces have strengthened overall but show structural differentiation: In the later period, Shenzhen's driving force outpaced Guangzhou's, with its export-oriented economy contributing significantly. GTWR uncovers notable spatiotemporal heterogeneity: Per capita GDP had an inverted U-shaped effect on Shenzhen, but a steadily strengthening one on Guangzhou. By 2023, natural constraints and policy guidance shaped Guangzhou's landscape evolution, while technological innovation and rail transit steered Shenzhen's. (4) The comprehensive effect evolved from socioeconomic dominance to infrastructure guidance and then to policy planning drive, reflecting the transformation from extensive expansion to intensive improvement. These findings provide a scientific basis for differentiated territorial spatial governance of urban agglomerations.
Pearl River Delta Urban Agglomeration; GTWR; Box Diagram; Grey Correlation Analysis.
Research on the Dilemmas and Optimization of Reverse Recycling of Express Packaging under the "Dual Carbon" Background
Against the backdrop of the "Dual Carbon" goal and the green development orientation of the 15th Five-Year Plan, the reverse recycling of express packaging has become a critical path to promote the low-carbon transformation of e-commerce logistics and implement the circular economy. Based on the dimensions of policy, market and technology, this paper systematically sorts out the current situation of reverse recycling of express packaging in China, analyzes the core problems existing in current express reverse recycling, and puts forward improvement suggestions. It proposes optimization measures such as improving the recycling network and supervision system, upgrading intelligent sorting and processing equipment, constructing a cost-sharing and benefit-sharing mechanism, enhancing consumers' participation enthusiasm, optimizing reverse transportation and motivating couriers, aiming to provide theoretical references for the standardized development of reverse recycling of express packaging.
Reverse Recycling; Express Packaging; Dual Carbon; Circular Economy.
Research on the Construction Path of Digital-Intelligence Literacy for Science and Technology Talents in the Era of LLMs
When large language models become more and more powerful, the study aims at the gap trouble of science and technology talent education, and proposes a four-dimensional "Digital-Intelligence Literacy" framework. This framework includes four parts: Cognitive & Mindset, Core Skills, Science and Technology Ethics, and Collaborative Innovation. It will help humans make a shift from technology users to human-AI collaborators. We analyzed the gap between the troubles and typical examples, and built a path of a mix of education reform, dynamic evaluation, and institutional protection. The study will be a guide to meet the demand of cultivating new quality productive forces, and provides theoretical insights and practical guidance.
Large Language Models, Science and technology Talents, Digital-Intelligence Literacy, Human-AI Collaboration, Competency Framework.
The Impact of Land Property Rights on Rural-to-Urban Migration: Market Mechanisms and Government Mechanisms
This paper aims to examine the relationship between China’s land tenure system and rural-to-urban migration. It distinguishes between two key scenarios: first, where land property rights are well protected (allowing for land leasing); and second, where land property rights are infringed upon (through government land expropriation with compensation). Using data from the China Health and Retirement Longitudinal Study (CHARLS), this study employs regression models for empirical analysis. The results indicate that a higher rate of land leasing is associated with a stronger willingness to migrate, whereas government land expropriation compensation significantly suppresses migration. The findings suggest that strengthening land property rights protection can promote voluntary and stable rural-to-urban migration, while forced land acquisition may weaken migration incentives. The paper concludes with policy implications and directions for future research.
Land Property Rights, Rural Migration, Household Responsibility System, Land Expropriation Compensation, CHARLS.
Research on the Impact Mechanism of Green Public Funds on the Synergistic Effect of Pollution Reduction and Carbon Mitigation in the Manufacturing Industry
China is pushing hard to link green finance with the green transformation of manufacturing. This is a big strategic priority. Green public funds play an important role here. They act as a key market-driven investment force. Still, how exactly they affect pollution reduction and carbon emission mitigation in manufacturing isn’t fully clear. Their impact mechanisms need systematic clarification. Their transmission pathways also call for empirical examination. This study looks at companies listed on China’s A-share market in the manufacturing sector. These firms held shares in green public funds between 2015 and 2022. The research focus on how that fund ownership shaped coordinated pollution control and carbon reduction. It maps out the key influence mechanisms step by step. It also traces the actual transmission pathways - how effects moved from fund holding to real-world outcomes. Initially, it is presumed the link works mainly through capital allocation signals. But subsequent analysis revealed other channels mattered too - like governance spillovers and peer benchmarking. The whole picture came together only after unpacking each piece separately. The findings show that green public fund holdings boost the combined impact of pollution control and carbon reduction in manufacturing firms. The effect isn’t uniform across all firms. It’s especially strong for non-state-owned enterprises. It also stands out among heavily polluting companies. Another thing worth mentioning: firms in eastern and western regions show this boost too. Initially, it is presumed that ownership type, pollution intensity, and regional location might each play a role-but subsequent analysis revealed the pattern holds up clearly for these three groups. Mechanism tests show how green public funds work. They mainly do this in three ways. First, they ease financing constraints. Second, they push companies to develop green technologies. Third, they boost external governance oversight. Initially, it is presumed these funds help firms get money more easily. But subsequent analysis revealed they also motivate green innovation directly. Another thing worth mentioning: the funds make outside monitors-like regulators or investors-more active. With actually practical effects, external checks become tighter and more consistent. This study delivers solid, real-world evidence. It also offers practical policy ideas. These help use green finance to push the manufacturing industry toward sustainability. The shift is low-carbon. It also supports high-quality development.
Green Public Funds, Synergistic Effects of Pollution Reduction and Carbon Emission Reduction, PSM-DID Test.
Study of the Impact of Macroeconomic Factors on the Capital Adequacy Ratio
The main aim is to find the influence of the three macroeconomic factors, including inflation, interest, broad money, and real growth rate, on the capital adequacy of the countries. Firstly, the Hausman test found the best fit analysis. The data was collected from Fred's database. A comparative study was conducted, and it found that the developed nations' capital adequacy level significantly influences macroeconomic factors. The overall data analysis of all the countries found that interest rates, inflation, broad money, and real growth determine the capital adequacy ratio. This study examines the influence of four macroeconomic factors-inflation ,interest rate,broad money, and real growth rate investigates the influence of four macroeconomic factor -inflation, interest rate, broad money, and real growth rate -on the capital adequacy ratio (CAR) of six countries from 1998 to 2019. Using panel data regression with fixed effects selected via the Hausman test, the analysis compares developed nations (United States, United Kingdom, European Union) and emerging nations (China, Malaysia, Indonesia). The findings reveal that macroeconomic factors significantly determine the capital adequacy ratio in the full sample. However, a comparative analysis shows that developed nations’ CAR is significantly influenced by inflation, interest rate, and broad money, while emerging nations’ CAR is only affected by the real growth rate. These results highlight the differeing sensitivity of capital regulation to macroeconomic conditions across development stages
Capital Adequacy Ratio, Macroeconomic Factors, Panel Data, Developed Economies, Emerging Economie.
Research on the Construction of a Top-Level Policy System for Differentiated Green Urban Renewal in Eastern, Central, and Western China under the Dual-Carbon Goals
Under the dual-carbon goals (carbon peaking and carbon neutrality), green urban renewal has become a core strategy for high-quality urban development in China. Significant disparities in economic foundation, industrial structure, resource endowments, and carbon emission characteristics across the eastern, central, and western regions necessitate a differentiated top-level policy system rather than a one-size-fits-all approach. This study constructs a theoretical framework for differentiated green urban renewal, establishes a regional carbon emission and green development evaluation index system, and proposes a multi-dimensional top-level policy framework covering carbon accounting, industrial transformation, spatial optimization, and financial support. Empirical analysis reveals that the eastern region focuses on low-carbon innovation and carbon emission reduction, the central region emphasizes industrial greening and carbon peak acceleration, and the western region prioritizes ecological protection and low-carbon development. Finally, this paper provides targeted policy recommendations for each region to promote coordinated national green urban renewal and the realization of dual-carbon goals.
Dual-Carbon Goals, Green Urban Renewal, Regional Differentiation, Top-Level Policy, Carbon Emission Accounting, Eastern-Central-Western China.
Comprehensive Evaluation of High-Quality Economic Development in Tianjin based on Analytic Hierarchy Process
Against the backdrop of China's economy transitioning from high-speed growth to high-quality development, this paper quantitatively analyzes the influencing factors of high-quality economic development in Tianjin by using the Analytic Hierarchy Process (AHP). The research is conducted from four dimensions: innovative development, economic growth, quality of life, and green development. Through the calculation and ranking of weights for each dimension, the importance of each dimension in the process of high-quality economic development in Tianjin is determined. The research results show that, from the perspective of the four dimensions, innovative development and green development play a more significant role in the high-quality economic development of Tianjin, while economic growth and quality of life have relatively lower impacts. From the overall ranking of the indicator layer to the target layer, it can be seen that factors such as the number of innovation projects in large-scale enterprises, the green coverage rate of built-up areas, and per capita regional GDP also have significant influences on the high-quality economic development of Tianjin. The impact of R&D investment intensity and per capita disposable income of all residents cannot be ignored either. Based on the importance of different indicator dimensions, this paper puts forward corresponding policy suggestions to promote the high-quality economic development of Tianjin.
High-quality Economic Development, Evaluation Index System, Analytic Hierarchy Process (AHP).
Comparative Study on the Capital Adequacy Ratio between Developed Countries and Emerging Countries Analysis based on Panel Data
This study investigates the influence of four macroeconomic factor -inflation, interest rate, broad money, and real growth rate -on the capital adequacy ratio (CAR) of six countries over the period 1998–2019. Using panel data regression with fixed effects selected via the Hausman test, the analysis compares developed nations (United States, United Kingdom, European Union) and emerging nations (China, Malaysia, Indonesia). The results show that for developed economies, inflation, interest rate, and broad money have significant effects on CAR, while for emerging economies, only the real growth rate is statistically significant. These findings suggest that capital regulation in developed countries is more sensitive to macroeconomic conditions, whereas emerging economies’ bank capital adequacy relies more on internal or micor-prudential factors. Policy implications are discussed.
Capital Adequacy Ratio, Macroeconomic Factors, Panel Data, Developed Economies, Emerging Econom.
Research on the Impact of Green Finance Policies on Corporate Financing Efficiency
As the world moves deeper into green development, green finance isn’t just a buzzword anymore-it’s a powerful tool that steers social capital into environmentally friendly industries and pushes companies toward greener practices. In this study, I focus on China’s Green Finance Reform and Innovation Pilot Zones, treating them as a kind of natural experiment. I use panel data from A-share listed companies between 2015 and 2023 and apply a multi-period difference-in-differences model to dig into how green finance policies affect corporate financing efficiency and how they work internally. The data tell a clear story: green finance policies make a real difference for companies inside the pilot zones, boosting their financing efficiency. This effect doesn’t just burst onto the scene and disappear-it grows quickly at first, then settles into a steady state. When I dig into why this happens, I find that green finance policies help companies by easing their financing constraints and helping them strengthen their green governance. But not all companies benefit in the same way. The positive impact stands out especially among non-state-owned enterprises, high-tech firms, and companies in industries with heavy pollution. There’s another twist: the effects don’t stop at the targeted firms. Green finance policies send positive ripples down the supply chain, further boosting financing efficiency for downstream enterprises. Upstream firms, though, don’t see much change. This research adds fresh evidence to the literature on the real-world, micro-level effects of green finance. It also offers practical insights for policymakers who want to refine the green financial system, help companies raise capital more efficiently, and drive high-quality economic growth.
Green Finance Policies, Corporate Financing Efficiency, Difference-in-Differences (DID), Green Governance, Financing Constraints, Supply Chain Spillover, High‑Quality Economic Development.
Exploring New Pathways for Youth Social Work in the Digital-Intelligent Environment
With the rapid development of digital technology, the developmental context of adolescents has changed, and the ecological environment has been fundamentally reshaped. Digital media has become the primary platform for adolescents to interact with the outside world, yet it also has negative impacts, which may induce psychological problems and Internet addiction. Against this backdrop, the traditional model of youth social work fails to adequately meet the needs, which requires social work practice to innovate, to analyze the challenges of the digital economy confronting youth social work, to formulate targeted strategies, to improve the digital literacy of social workers, to build a sound evaluation mechanism, and to provide solid support for the sustainable development of youth social work.
Digital-intelligent Environment, Youth Social Work, Digital Literacy, Service Innovation, Evaluation System.
Research on the Impact of Financial Advisory Services on the Diversification Level of Household Portfolios
With the continuous improvement of household financial asset scale and the increasing complexity of financial markets, household portfolio diversification has become an important means to reduce investment risks and optimize asset allocation. Financial advisory services, as a professional financial intermediary service, play a crucial role in guiding households to make rational investment decisions and improving portfolio diversification. Based on the theory of modern portfolio, behavioral finance and financial intermediation, this paper selects the micro data of household financial survey to empirically test the impact of financial advisory services on the diversification level of household portfolios. The research results show that: financial advisory services can significantly improve the diversification level of household portfolios, and this promotion effect has heterogeneity among households with different financial literacy, asset scale and risk preference; the mechanism test shows that financial advisory services can improve household portfolio diversification by alleviating household behavioral biases and improving household financial literacy. Finally, based on the research conclusions, this paper puts forward policy suggestions to optimize financial advisory services and guide households to achieve scientific portfolio diversification. This study enriches the research on the factors affecting household portfolio diversification and provides theoretical and empirical support for the development of financial advisory industry and the improvement of household financial decision-making ability.
Financial Advisory Services, Household Portfolios, Diversification Level, Behavioral Bias, Financial Literacy.
Strategies for Improving Urban Land Use in the Context of New-type Urbanization
New-type urbanization is a core strategy for China's modernization, bearing the development tasks of expanding domestic demand and promoting growth, while also facing urgent needs for transformation and quality improvement. As of the end of 2025, China's urbanization rate of permanent residents reached 67.89%, which still shows a significant gap compared to developed countries. However, the extensive development model of traditional urbanization has triggered problems such as low land use efficiency, disjointed planning, and prominent supply-demand contradictions, which have become key obstacles to the implementation of new-type urbanization. As the material foundation and spatial carrier of urbanization, the efficiency of land utilization directly relates to the sustainability of urbanization; therefore, targeted optimization and improvement are urgently needed. Taking the current status of urban land use under new-type urbanization as a starting point, this paper conducts a systematic analysis from three aspects-the intensity of land use, the planning system, and technical support-to explore implementation pathways for improving urban land use efficiency. It constructs a "Planning-Intensification-Smart" trinity improvement framework. With intensive land use as the goal, measures are formulated across four dimensions: ideology, institutional design, technology integration, and planning coordination. Based on land use planning, the planning system is optimized by enhancing the scientific nature of compilation and perfecting flexible control mechanisms. With smart cities as technical empowerment, full-process precise management of land use is achieved by relying on remote sensing, GIS, and digital technologies. This study provides practical pathways and relevant theoretical references for the optimization of urban land use in China.
New-type Urbanization, Urban Land Use Improvement, Intensive Use, Smart City, Land Use Planning.
Does Trade Policy Uncertainty Affect Corporate Financialization: From the Perspective of Corporate Uncertainty Perception
In the current period of “growing uncertain and unpredictable factors” in China, corporate financialization is regarded as one of the major challenges to “consolidating and expanding the foundation of the real economy”. Therefore, based on the sample of Chinese A-share listed companies from 2007 to 2024, this study uses the text analysis method to measure the enterprise-level trade policy uncertainty perception index, and identifies its impact on corporate financialization and the underlying mechanism. The empirical results show that corporate perception of trade policy uncertainty significantly inhibits the allocation of financial assets. Mechanism analysis indicates that it exerts its effect by exacerbating managerial short-termism and amplifying cash flow volatility. Extended analysis reveals that the aforementioned inhibitory effect is more prominent in enterprises with a lower degree of market competition or stronger external supervision. The conclusions of this paper have enlightening significance for policymakers to understand the law of how uncertainty affects corporate financialization behavior and to “consolidate and expand the foundation of the real economy”.
Corporate Perception of Trade Policy Uncertainty, Financialization, Portfolio Allocation.
Research on Experience Marketing Strategies for Traditional Chinese Medicine Enterprises from the Perspective of Value Co-creation
With the change in economic model and consumer behaviour at present, the experience economy, a new form of consumption that encourages people to take part in various activities and feel emotions by participating in these experiences, has gradually spread in recent years. The new demands of consumers are to be more personalised, diverse and emotionally satisfying. The Value Creation Models of Traditional Chinese Medicine (TCM) Enterprises are Changing. In light of the above, this paper will integrate value co-creation theory and pharmaceutical marketing strategies to review previous research on pharmaceutical marketing and investigate how the role of consumers in brand interaction, product experience and emotional resonance has evolved. Research has been carried out to explore how traditional Chinese medicine (TCM) enterprises can shift from "one-way marketing" to "two-way value co-creation" by building consumer participation mechanisms, strengthening sensory experiences and reconstructing brand identities; at the same time, it has provided theoretical support and practical guidance for marketing innovation in the TCM industry.
Value Co-creation, Experiential Marketing, Marketing Strategy, Traditional Chinese Medicine Industry.
Research on the Differential Impacts of Selective Industrial Policy and Competitive Industrial Policy on Enterprise Innovation
Industrial policy, as an important means for governments to intervene in the market and promote industrial upgrading, is mainly divided into selective industrial policy and competitive industrial policy. The two types of policies have obvious differences in intervention logic, implementation methods and target orientations, which will inevitably lead to differential impacts on enterprise innovation. This paper uses 2018-2022 panel data of China’s A-share listed manufacturing firms to analyze how selective and competitive industrial policies differently affect corporate innovation, alongside moderating effects of firm scale and ownership. Selective policies boost innovation input insignificantly affecting output quality, while competitive policies improve both notably. The two policies exert disparate influences on state-owned, private, large and small firms. Relevant suggestions are proposed to optimize policy collocation and drive corporate innovation.
Selective Industrial Policy, Competitive Industrial Policy, Enterprise Innovation, Innovation Input, Innovation Output.
Study on the Impact of the Centralized Procurement Policy for Traditional Chinese Patent Medicines on the Innovation Performance of Listed Traditional Chinese Medicine Enterprises in China
Despite continuing reforms in China’s healthcare system, bulk procurement policies for medicines have increasingly been used as a key regulatory tool in recent years. The objective of this kind of policy is to lower the cost of pharmaceuticals and establish operation standards in the domestic pharmaceutical market. With the gradual adoption of bulk procurement policies on traditional Chinese medicine formula products, discussion among academia and the general public has also been focused on the innovation strategies of enterprises affected by the bulk procurement policy. This study takes the A-share listed traditional Chinese medicine enterprises that trade on the Shanghai and Shenzhen stock exchanges during the period 2018 to 2024 into consideration. It builds the panel dataset of firms at an empirical level. Using the multiple difference-in-differences approach, the effects of traditional Chinese medicine formula bulk procurement policy on innovation outcomes of firms are evaluated. Mechanism test is done using three key indicators of enterprise operations. Empirical testing outcomes suggest that the implemented TCM bulk procurement regime may indicate meaningful enhancements in innovative performance for listed traditional Chinese medicine enterprises. Mechanism testing reveals that the policy drives the optimization of corporate resource allocation structure by increasing R&D investment, optimizing R&D personnel allocation, and reducing sales expense ratios, thereby fostering technological innovation. The research conclusions provide empirical evidence for evaluating the implementation effects of the centralized procurement policy for TCM preparations and promoting the innovative development of the TCM industry.
Traditional Chinese Patent Medicine, Procurement Policy, Innovation Performance.
The Impact of Digital Literacy on Entrepreneurial Decision-making among Young Farmers
Under the background of deep integration of digital economy and rural revitalization strategy, young farmers ' entrepreneurship has become a new driving force for county economic development, and digital literacy is a key enabling factor. Based on the data of China Family Panel Survey ( CFPS ) in 2020-2022, this paper takes young rural households aged 18-45 as the research object, constructs a digital literacy index system covering six dimensions such as digital foundation, entertainment and shopping, and uses Probit model and instrumental variable method to empirically test the impact, mechanism and heterogeneity of digital literacy on young farmers ' entrepreneurial decision-making. The purpose of this study is to reveal the internal logic of digital literacy affecting young farmers ' entrepreneurial decision-making, and to provide empirical basis and policy reference for building a support system for young farmers ' digital entrepreneurship and promoting rural revitalization.
Digital Literacy; Young Farmers; Entrepreneurial Decision; Mechanism Analysis; Heterogeneity.
Emotional Governance in Online Public Opinion during Major Public Health Emergencies
The coronavirus disease 2019 pandemic, initially identified as the ‘COVID-19’ in China at the end of 2019 has posed significant global public health challenges, highlighting the need for effective online public opinion during crises. This study investigates the evolution of public sentiments on social media during the pandemic, applying text mining and using data collected from Chinese microblogging platforms related to the outbreak based on Python. Sentiment data were categorised and analysed across five major phases of the outbreak, capturing the frequency and types of emotional expressions to explore public opinion dynamics. Results reveal distinct patterns: negative emotions, such as panic and anxiety, were prevalent during the initial outbreak; positive emotions increased during containment phases; and mixed emotions emerged during policy adjustments and case surges. Positive sentiment peaked as pandemic control efforts succeeded and normalcy resumed. The findings further indicate that uncertainty and heightened negative emotions can drive surges in public opinion, while timely, reasonable, and effective government responses can alleviate public anxiety and reduce the risk of secondary crises. These insights highlight the critical role of sentiment analysis in public health communication and crisis management, offering actionable recommendations for mitigating public sentiment risks during future pandemics.
COVID-19; Online Public Opinion; Sentiment Analysis.
Digital Technology Empowers Agricultural Insurance to Achieve Dual Precision
As an important policy-based financial tool in China, the precise underwriting and precise claims settlement of agricultural insurance are key to its stable and sustainable development. Digital technology is a crucial enabler for achieving "dual precision" in agricultural insurance. This paper reviews the current state of "dual precision" in agricultural insurance and highlights the most widely used technologies in this regard, such as remote sensing, big data, and artificial intelligence. However, the application of these technologies faces challenges including high technical barriers, severe data silos, lack of uniform standards, and talent shortages. Therefore, this paper proposes countermeasures such as developing digital technology-related industries, building a unified agricultural insurance data platform, standardizing practices, and cultivating interdisciplinary talent.
The Impact and Mechanism of Artificial Intelligence Applications on Enterprise Innovation: Evidence from Chinese SRDI Enterprises
Artificial intelligence (AI) has become an important strategic force driving enterprise transformation and innovation. In China, SRDI enterprises, namely, specialized, refinement, differential, and innovation-oriented enterprises, represent a critical group in the transformation toward high-quality development. Compared with ordinary small and medium-sized enterprises, SRDI enterprises possess stronger technological specialization, greater innovation potential, and more distinctive industrial positioning. However, they still face constraints in talent structure, knowledge integration, and innovation resource allocation during the process of intelligent upgrading. Against this background, this paper investigates the impact and underlying mechanisms of AI applications on enterprise innovation among SRDI enterprises. Following a two-way fixed-effects panel regression and mediation analysis framework, this study constructs a panel dataset of 959 SRDI enterprises from 2013 to 2024, covering manufacturing, industrial software, new materials, intelligent equipment, electronic information, and producer services. The empirical results show that AI applications significantly promote enterprise innovation. Mechanism tests indicate that AI improves innovation performance through three channels: knowledge spillover, human capital upgrading, and innovation factor allocation optimization. Heterogeneity analysis further demonstrates that the positive effect of AI is more pronounced among manufacturing-oriented SRDI enterprises, firms with higher R&D intensity, and enterprises located in regions with stronger digital infrastructure. Robustness checks based on lagged explanatory variables, alternative dependent variables, winsorization, and additional controls confirm the stability of the results. This paper extends the literature on AI and innovation by focusing on SRDI enterprises and provides practical implications for the cultivation of innovation ecosystems, intelligent transformation, and high-quality industrial development.
Artificial Intelligence; SRDI Enterprises; Enterprise Innovation.
Analysis of Tiktok Business Operation Model from the Perspective of a Multilateral Platform
With the development of Internet technology, multilateral platforms have become an important part of the modern economy. As a leading global short - video social platform, TikTok's unique business operation model holds significant research value within the framework of multilateral platform theory. This paper conducts an in - depth analysis of TikTok, an emerging social media platform, from the perspective of multilateral market theory. Based on network externalities and platform competition theory, it explores how TikTok utilizes direct and indirect network effects to construct its business model, optimize pricing strategies, and maintain a leading position in the highly competitive digital market. By constructing a theoretical model, this paper discusses TikTok's pricing strategies and value creation mechanisms among content creators, advertisers, and ordinary users, as well as how it promotes user growth and engagement through platform strategies. Through an analysis of TikTok's business model and market performance, this paper proposes sustainable development strategies for TikTok in the future.
Multilateral Platform; Network Effects; Business Operation Model; Pricing Strategy; Value Creation.