A Probe into the High-Quality Development Path of China’s Financial Industry

Under the new economic normal,the financial industry plays an important role in the high-quality development of the national economy,which is conducive to promoting the development of a socialist market economy with Chinese characteristics,improving the financial system,laying a good foundation for the“Internet+”economic development,and promoting the stability and prosperity of the market economy.China’s financial industry should be based on the new economic normal,strengthen the risk control of the financial industry,and ensure the stability of the financial market;Further improve the inclusive finance business,alleviate the capital problems of small and medium-sized enterprises,and activate the vitality of the financial industry;Promote fintech innovation,adapt to market changes and technological progress of The Times,and improve the comprehensive competitiveness of China’s financial industry;Improve the financial supervision system,strengthen the supervision of the financial industry,standardize the development of the financial industry,and promote the high-quality development of the financial industry.

Significant contributions of the petroleum industry to volatile organic compounds and ozone pollution:Insights from year-long observations in the Yellow River Delta

The petroleum industry is a significant source of anthropogenic volatile organic compounds(VOCs),but up to now,its exact impact on urban VOCs and ozone(O_(3))remains unclear.This study conducted year-long VOC ob-servations in Dongying,China,a petroleum industrial region.The VOCs from the petroleum industry(oil and gas volatilization and petrochemical production)were identified by employing the positive matrix factorization model,and their contribution to O_(3) formation was quantitatively evaluated using an observation-based chemical box model.The observed annual average concentration of VOCs was 68.6±63.5 ppbv,with a maximum daily av-erage of 335.3 ppbv.The petroleum industry accounted for 66.5%of total VOCs,contributing 54.9%from oil and gas evaporation and 11.6%from petrochemical production.Model results indicated that VOCs from the petroleum industry contributed to 31%of net O_(3) production,with 21.3%and 34.2%contributions to HO_(2)+NO and RO_(2)+NO pathways,respectively.The larger impact on the RO_(2) pathway is primarily due to the fact that OH+VOCs ac-count for 86.9%of the primary source of RO_(2).This study highlights the critical role of controlling VOCs from the petroleum industry in urban O_(3) pollution,especially those from previously overlooked low-reactivity alkanes.

Industrial Organization in the Digital Economy Era:Evolution and Effects

Advances in digital technology and vast data applications have resulted in the emergence of the digital economy paradigm,which is a new techno-economic paradigm for the digital economy age.Under this paradigm,the industrial organization has shifted toward networked,platform-based,boundaryless,and integrated development with new characteristics.Specifically,there has been a fierce“positional arms race”fueled by financial capital,accelerating the growth of platform companies.The“hierarchical monopolistic competition”market structure has taken shape,resulting in a“coexistence without disruption”monopolistic competition.As platform businesses expand into new business sectors,competition among industrial ecosystems intensifies.Data and algorithms have become secret weapons for corporate success,allowing platform companies to expand their monopolistic forces.Industrial organization in the digital era has revolutionized the operating rules and logic of industrial economy,giving rise to new industries,business models,and paradigms,as well as being conducive to international cooperation and intelligent regulation.Meanwhile,it has introduced new challenges to socioeconomic development,making platform companies’anti-competitive and monopolistic behaviors more implicit,privacy and security concerns more conspicuous,and antitrust identification and investigation more difficult.The government should embrace the evolving trends of industrial organization in the digital economy era,accelerate regulatory transition,and strengthen governance and regulation under the digital economy paradigm.

Spatial Organization of Innovation in the Oil Equipment Manufacturing Industry: Case of Dongying, China

As innovation and technological change have become increasingly important for the competitiveness and sustainable growth of firms,cooperative innovation is now crucial for traditional industries in the context of globalization.This paper proposes a framework for analyzing the spatial pattern of cooperative innovation for traditional industries in developing countries.Based on in-depth interviews with 35 firms in the oil equipment manufacturing industry in Dongying City,China,this study argues that different firms in the innovation pyramid have various innovation activity preferences and spatial patterns.Firms with high innovation abilities tend to cooperate with various partners that are geographically dispersed and continuously expanding,while firms with inferior abilities usually cooperate with nearby fixed partners.Due to the differences in innovation environment and actor locations,firms tend to make different choices regarding innovation types and models,which highlight the importance of personnel training and basic scientific research at the global scale and practical product research and development at the national scale.Additionally,talent flow is the most important way to realize relationships for firm innovation activity.

The Impact of New Standard of Financial Instruments on Commercial Banks- A Case Study of Industrial and Commercial Bank of China

In July 2014,《International Financial Reporting Standard 9:Financial Instruments》(Referred to IFRS 9)was formally published. Compared to the former standard,《International Accounting Standard 39: Financial Instruments》(Referred to IAS 39), rules of two main aspects, the classification and measurement of financial assets and the impairment model of financial assets have been changed in IFRS 9. Taking ICBC as an example, this paper studies the impact of changes in financial instruments on commercial banks. The study shows three impacts on commercial banks’ financial report. Firstly, the changes of the classification and measurement of financial assets will have limited impacts on commercial banks. Secondly, the expected-loss model will significantly increase the loan loss reserves under the new standard, thus reducing the net asset and net profit. Thirdly, the change in the measurement way of the equity instruments of available-for-sale securities will increase the fluctuation of the net profit. This study shows investors and regulators the impact of the new standard of financial instruments on commercial banks.

Impact of sustainability on financial distress in the air transport industry:the moderating effect of Asia–Pacific

The tremendous impact of the coronavirus pandemic on the global aviation industry has led to many cases of airline financial distress and bankruptcy.The Asia–Pacific region(APAC)contains more than half of the world’s population,and its airlines had the highest profit margin of any region.In this study,we investigate whether corporate sustainability practice can reduce the financial distress risk of air carriers,and,if so,what would the effect be in APAC?We first examine the relationship between environmental,social,and governance disclosure and the likelihood of financial distress of airlines as measured by the Altman Z″-score.Second,we analyze the moderating role of being an APAC airline in this relationship.The findings support the claim that implementing environmental actions may increase financial distress risk,and by improving social and governance activities,airlines can mitigate the risk of financial distress.The negative influence of the environmental pillar and the positive influence of the social pillar can be smaller for APAC airlines.Our study provides empirical evidence of the influence of environmental,social,and governance(ESG)on the likelihood of financial distress in the airline industry.Moreover,we analyze the moderating role of being an APAC airline in the relationship between sustainability and financial distress.This study has significant implications for executives,managers,and policymakers in the aviation industry on ESG strategy decisions and the general issue of sustainability.

The Role of External Auditor in Protecting the Financial Information Listed in the Financial Statements in the Jordanian Industrial Companies

This study aims to know the role of external auditor in protecting the financial information listed in the financial statements in the Jordanian industrial companies. The sample of this study consisted of 70 auditors who work for Jordanian industrial companies, whereas a questionnaire survey was designed and distributed to them. A total of 68 questionnaires were received that are valid for statistical analysis accounting for 97% of the overall distributed questiormaires; and the questionnaires have been analyzed using SPSS statistical software. The results of the study revealed that the external auditor uses the information technology in examining the financial information listed in the financial statements. Also, it was found that the external auditor is keen to ensure the credibility of the financial statements of the company. The study recommended the external auditor in the Jordanian industrial companies to be more interested in updating the company＇s electronic financial system.

Resilience and Stability in Organizations Employing Cloud Computing in the Financial Services Industry

The services and solutions offered by cloud computing continue to grow, just as the number of organizations relying on the service. Cloud computing has become prevalent in the financial services industry, where 83% of financial services institutions identified cloud computing as a primary element of their infrastructure. Although there are specific benefits of cloud computing that organizations rely on such as access to critical services and lower costs, there is the possibility that cloud computing will create costs for organizations. The purpose of the study was to present an intensive review of the benefits and threats by investigating resilience and stability of the organizations in financial services industry that use cloud computing as their primary element of infrastructure. Data collected from the interview was used to answer original research questions, which are: How are organizations in the financial services industry resilient when faced with threats or losses associated with the use of cloud computing in their organization? How do organizations in the financial services industry maintain stability when faced with threats or losses associated with the use of cloud computing in their organization? The study supports the advancement of knowledge by identifying the threats and losses that occur due to the use of cloud computing, and organizations understand common threats and thus implement proper mitigation.

The application of industrial accounting in corporate finance industry

In the increasingly fierce market competition, economic efficiency of enterprises is the fundamental for enterprise＇ s development and survival; accounting plays an important role in enterprise management. The appearance of accounting industry is to meet the economic needs of management within the organization and gradually developed, its main functions is to improve operating efficiency and to establish and provide a variety of data and information, such as internal management needs. Based on this, the paper makes an analysis about the role that industry accounting play for corporate financial management in China.

The Relationship between Financial Development and Industrial Restructuring --Based on Panel Data of 17 Areas of Shandong

Based on the Panel Data of Shan dong Province of 17 regions, by estimating varying coefficient models, studies the relationship between financial development and industrial structure.The results show that, on the whole, the financial development indicators-the scale and the efficiency can effectively promote industrial restructuring in all regions of Shandong province, but its role has obvious differences in different regions, so it can provide a basis for economic decision-making and financial policy advice.

Research on financial support of the new energy industry

As it is known to all, the new energy industry plays an important in the economic transformation and structure adjustment of our country. The government attaches great importance to the development of the new energy industry. Particularly for the developing countries, to achieve rapid development require a lot of capital. However, there are some problems with finance in the development of the new energy industry. Based on the analysis, this paper puts forward some countermeasures.

The Review of the Research Paradigm of Capital Structure Based on the Theory of Industry Organization

Capital structure is one of the important research aspects of corporate finance. According to methodology, the capital structure research can be classified into two categories： the paradigm of uni-corporation and the paradigm of industry organization. Traditional capital structure research can be attribute to uni-corporation aspect. This paper reviews all literatures concerning the paradigm of industry organization and illustrates the inter-relationship among the feature of industry, the feature of suppliers and customers, the competitive strategy, product life cycle and capital structure.

Analysis of Factors of the sports industry affected by the financial crisis and the development of countermeasures

The 2008 financial crisis on China＇ s economy has had a huge impact. And sports tourism, sports competitions, sporting goods industry, sports and fitness industry and other industries at the core of the sports industry are no exception, deeply affected by the financial crisis. Therefore, in-depth analysis of the current development of the sports industry, as well as explore the impact of the financial crisis on China＇ s sports industry and propose appropriate measures, has a very important practical significance.

Optimization of Corporate Financial Management from the Perspective of Industry-Finance Integration

Enterprises can enhance their financial management by integrating their business and financial departments,facilitating the seamless sharing of information and resources.This integrated management model not only aids in lowering operating costs but also boosts market competitiveness.In the contemporary,highly competitive business landscape,the amalgamation of business and finance has become a prerequisite for corporate development.This article delves into the significance of industry-finance integration in corporate financial management,scrutinizes existing challenges in corporate financial management,and puts forth tailored solutions to optimize the overall system.

The Impact of Global Financial Crisis on China Chemical Fiber Industry and Response Strategies (Part Ⅱ)

Prospects of Global Financial Crisis and Economic Crisis The widely spreading global financial crisis has halted the fast growth of world economy in five consecutive years,and heavily stricken the financial and economic sectors worldwide.It’s second only to the "Great Depression" in the 1930’s.Governments

Exploring the moderating role of financial development in environmental Kuznets curve for South Africa:fresh evidence from the novel dynamic ARDL simulations approach

The extant literature has produced mixed evidence on the relationship between finan-cial development and ecological sustainability.This work addresses this conundrum by investigating financial development’s direct and indirect consequences on ecologi-cal quality utilizing the environmental Kuznets curve(EKC)methodological approach.Our empirical analysis is based on the novel dynamic autoregressive distributed lag simulations approach for South Africa between 1960 and 2020.The results,which used five distinct financial development measures,demonstrate that financial develop-ment boosts ecological integrity and environmental sustainability over the long and short terms.In the instance of South Africa,we additionally confirm the validity of the EKC theory.More importantly,the outcomes of the indirect channels demonstrate that financial development increases energy usage’s role in causing pollution while attenuating the detrimental impacts of economic growth,trade openness,and foreign direct investment on ecological quality.Moreover,the presence of an inadequate financial system is a requirement for the basis of the pollution haven hypothesis(PHH),which we examine using trade openness and foreign direct investment variables.PHH for both of these variables disappears when financial development crosses specified thresholds.Finally,industrial value addition destroys ecological quality while tech-nological innovation enhances it.This research provides some crucial policy recom-mendations and fresh perspectives for South Africa as it develops national initiatives to support ecological sustainability and reach its net zero emissions goal.

Research on Efficiency of Financial Supports in Agricultural Industrialization in China

The agricultural industry development in China has been very successful, but there exist some problems, such as weak financial support strength. With the help of DEA-Malmquist index method, this paper evaluated the efficiency of the agricultural industrialization＇s financial supports, made a deep study of its influencing factors, which have an extremely important influence on the perfect agricultural industrialization＇s development.

The Influence of Socio-Demographic, Health and Work-Related Factors on Health-Related Quality of Life among Iranian Industrial Workers

Health-related quality of life (HRQOL) has not been investigated among Iranian industrial workers. The present paper aimed to study the influence of the socio-demographic, health and work-related factors on HRQOL among Iranian industrial workers. In this cross-sectional study, participants were 280 workers of two factories. The Persian version of World Health Organization Quality of Life-Brief (WHOQOL-BREF) was used to assess the HRQOL. A questionnaire was developed to assess the socio-demographic, health and work-related factors. Results showed that the means (SD) of physical health, psychological health, social relationships, and environment domains of HRQOL were 13.2 (2.7), 13.3 (2.6), 14.2 (3.5) and 12.6 (2.5), respectively. A multiple linear regression showed that types of job, exercise activity, working schedule, sleep quality, smoking, and conflict between work and social life were significantly associated with physical health domain;whereas, working schedule, marital status, working demand, sleep quality, BMI, and conflict between work and individual life were significantly associated with psychological health domain. Working schedule, working demand, sleep quality, conflict between work and individual life, and having children over two years were significantly associated with social relationship domain;however, working demand, working schedule, smoking, sleep quality, working hour, job satisfaction, marital status and exercise activity were significantly associated with environment domain. Collectively, work-related factors including unhealthy working conditions, unsafe working environments, long working hours, irregular working schedules, and the lack of occupational training may negatively influence the HRQOL of workers. To improve workers’ HRQOL, intervention programs should focus on improving work environment, working schedule, occupational training and restricting working hours.

Financial crisis and sustainable development of Chinese manufacturing industry

Sub-prime lending crisis has become an international fi nancial crisis, which is evolving into an economic recession sweeping across the West. Financial crisis leads to the demand reduction in western countries, and as the largest manufacturing country, China must face overproduction. The role of China as "world factory" determines that fi nancial crisis will severely attack Chinese manufacturing industry. The unsustainable development of Chinese manufacturing industry is mainly reflected in the following aspects: heavy dependence on export, low-level manufacturing link, lack of modern service industry and high-tech industry, weak independent innovative ability, unsustainable exploration of heavy-pollution resources, and lack of international famous brands. How to transform crisis to opportunities is an urgent research topic. Under the circumstance of financial crisis, Chinese manufacturing industry has more external drives to change the current situation. Therefore, financial crisis becomes not only an opportunity for Chinese manufacturing industry to improve itself based on the existing accumulation but also a chance for China to transform from "world factory" into a powerful nation of manufacturing industry in the world.

Analysis of China's sporting products industry based on the SCP framework

The SCP framework is a classical theory of industrial organization,which refers to the market structure,market conduct and market performance.This analysis is based on the SCP framework,choosing the current sporting products industry as object.Study found that China's sporting products industry's geographical layout has a"strong in South and East,weak in North and West"regional development trend,the proportion of abovedesignated enterprises is relatively low,rate of market concentration is not high,product homogenization remain quite serious.With high-speed technological progress and rapid scientific and technological updates,in the future,the sporting products industry will be reorganized according to the subdivision industries,getting rid of homogenization of competition and meeting the needs of consumers in smart wearable,health monitoring and other aspects.