Development Of Market Economy Research Articles

Perceived CSR impact on purchase intention: The roles of perceived effectiveness, altruistic attribution, and CSR-CA belief

With the rapid development of market economy, consumers gradually begin to take corporate social responsibility (CSR) as one of the factors that determine their purchase intention when purchasing products. Based on the attribution theory, this paper develops a moderated mediation model to investigate its internal mechanism, and empirically tests the conceptual model through a questionnaire survey. The results indicate that Perceived CSR has a direct and positive impact on consumers' purchase intention and has an indirect and positive impact on consumers' purchase intention through altruistic attribution. Consumers' perceived effectiveness positively moderates the impact of Perceived CSR on altruistic attribution, while different beliefs about corporate social responsibility-corporate ability (CSR-CA) moderate the relationship between altruistic attributions and consumer purchase intentions. Finally, some recommendations are put forward for the results of the survey, for reference by the academia and industry.

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.

Research on Fair Value Application and Financial Impact - Taking Zhongnan Construction Company as an Example

The history of economic and accounting development shows that the more the economy develops, the more important accounting is; the more the economy develops, the stronger the ability of accounting information to promote or hinder economic development. In the long history of accounting, measurement has always been the core of accounting. The choice of accounting methods focuses on the choice of measurement attributes, rather than the choice of measurement units. With the development of market economy and knowledge economy, the accounting information provided by historical cost accounting only involves past costs and ignores future values. It cannot reflect changes in the economic environment in a timely and complete manner, and has no connection with the economic decision-making process. The measurement of fair value can reflect the current and future changes in the economic environment in a timely and complete manner. In the more than ten years since it has been in line with the international accounting community, the issue of fair value has always been an urgent problem to be solved. Corresponding research on related issues, from theoretical review to the practical application of fair value measurement. At present, the control of fair value measurement by Chinese enterprises is still not stable enough, and how to effectively improve is still an in-depth question.

The Application of Blockchain in the Accounting Industry

Blockchain technology is one of the new information technologies, because of its consensus mechanism, distributed mechanism, smart contract and other technical characteristics, as well as non-forgery, open and transparent, traceability, whole-process traces, collective maintenance and other characteristics, has been widely concerned by various industries. Accounting is the language of business and a management information system that provides financial and accounting information. In today’s highly developed market economy, accounting plays an indispensable and important role. The in-depth application of blockchain technology in the accounting industry can promote the development of the accounting industry, but also can promote the integration of blockchain technology into the overall social and economic environment. This paper studies the application of blockchain technology in the accounting industry. “Luckin coffee financial fraud” events as examples, by analyzing the Luckin coffee event accounting problems, put forward the problems existing in the traditional way of accounting, and block chain technology used in comparing the advantage of the accounting profession, points out that block chain technology can solve the problem of some of the existing accounting, to perfect the accounting and internal control to provide a better strategy and scheme. At the same time, this paper also analyzes the risks existing in the application of blockchain technology in the accounting industry, and briefly puts forward several countermeasures. Finally, the development of block chain technology into the accounting industry is prospected. Blockchain technology not only promotes the development of traditional financial accounting, but also promotes the development of management accounting, and promotes the overall reform of the accounting industry.

The Role of Roman Law in the Formation of the State and Modern Law

Abstract The research aims to determine the role that Roman law played in the development of modern jurisprudence. Several methods of theoretical cognition were used in the course of the study, such as analysis, synthesis, comparison, specification, and generalization. As a result, some conclusions have been reached, in particular, that the mechanisms and principles of the Roman legal order, which have existed for many centuries, remain relevant in the modern legal context, and have influenced the formation of political and institutional structures, especially in the field of market relations and economic development. In addition, the study identifies how different branches of Roman law have influenced the further development of jurisprudence. Roman public law (ius publicum) influenced the development of constitutional law in modern countries by regulating relations between the state and citizens. Roman private law (ius privatum) defined the foundations of modern civil law systems, regulating the rights and obligations of citizens among themselves. Also, with the development of trade in Rome, the concept of ius gentium or “law of nations” emerged, which became the basis of modern international law through the formalization of rules and regulations governing the international exchange and circulation of goods.

Parent-Subsidiary Responsibility in the Development of Multinational Enterprises

As a core subject in the current international market economic activities, the parent-subsidiary company not only plays an important role in the development of multinational enterprises themselves, but also plays an important role in the bonding of cooperation between countries. However, the limitations of the traditional corporate law governance model, especially the limited nature of liability, make multinational corporations in the actual operation of many problems. Among them, the issue of responsibility sharing between parent and subsidiary companies is still one of the core issues that need to be continuously focused on at this stage, because the assumption of responsibility by parent and subsidiary companies not only has an important impact on the development of the international market economy, but also pays direct attention to the acquisition of creditor's interests. Through comparative research, historical research, and other research methods, the issue of responsibility-sharing among parent-subsidiary companies of multinational enterprises will be studied. The role of the corporate veil piercing system in responsibility-sharing will be analyzed based on domestic and foreign legislation and judicial experience. The aim is to identify a responsibility-sharing approach that promotes the development of multinational enterprises while safeguarding the interests of creditors.

The intervention of local public authorities and the impact of the COVID-19 pandemic in Romania: a subnational analysis.

The COVID-19 pandemic had a strong territorial dimension, with a highly asymmetric impact among Romanian counties, depending on pre-existing vulnerabilities, regions' economic structure, exposure to global value chains, specialization, and overall ability to shift a large share of employees to remote working. The aim of this paper is to assess the role of Romanian local authorities during this unprecedented global medical emergency by capturing the changes of public spending at the local level between 2010 and 2021 and amid the COVID-19 pandemic, and to identify clusters of Romanian counties that shared similar characteristics in this period, using a panel data quantitative model and hierarchical cluster analysis. Our empirical analysis shows that between 2010-2021, the impact of social assistance expenditures was higher than public investment (capital spending and EU funds) on the GDP per capita at county level. Additionally, based on various macroeconomic and structural indicators (health, labour market performance, economic development, entrepreneurship, and both local public revenues and several types of expenditures), we determined seven clusters of counties. The research contributes to the discussion regarding the increase of economic resilience but also to the evidence-based public policies implementation at local level.

Investigating the international corporate tax revenue efficiency under the digital economy: multiple case study of MNES operating in India

Purpose The purpose of this paper is to validate the theoretical finding that digital MNEs avoid physical presence norms of permanent establishment and royalty characterization rules for business and royalty taxation, respectively, to escape tax incidence in the market economy, using information, communication and technology features and transfer pricing (TP) manipulations. Design/methodology/approach Multiple case studies of MNEs from technology sector, based on judicial decisions in 141 cases, over taxability of profits earned from Indian economic activities. Additional in-depth case study of the Uber Group to study the tax avoidance structures under platform economy, by routing of Indian profits through The Netherlands, a tax haven. Findings The study finds a significant number of digital MNEs earning profits from India and avoiding tax by defying physical presence and royalty characterization. In majority of the cases, demand-side business activities are discharged through incorporating and remunerating affiliates at cost plus low markup, thus avoiding tax incidence, using TP manipulations under the arm’s length principle applied by governments for benchmarking the intragroup transactions of the MNEs. Research limitations/implications The research findings validate the view that digital features promote tax avoidance in the market economy. Originality/value The originality of the study lies in the validation of profit shifting through digital features from the developing market economy and portending that digital MNEs defy physical presence to avoid business taxation through TP manipulations.

Valuation and pricing of equity securities: A test of CAPM in a developing market economy

The study is on valuation and pricing of equity securities. A test of CAPM in a developing market economy (2006-2020) The major aim of the study is to investigate the capability and relevance of CAPMt to equity prices in Nigeria stock market from 2006-2020 and show if the model empirical findings are in line with results obtained from the developed markets. The model concerned in the study is Capital asset pricing model (CAPM) by Sharp 1962. from (2006-2020) Using a sample of 62 companies derived from the eleven major sectors of the Nigeria economy and Using panel data analysis and valuation status analysis results showed that, CAPM demonstrated positive and in significant impact on stock return(RI) of the Nigeria stock market. These variables do not play role on explaining the movement in the value of stock return of the selected firms within the period, The result of the relationship between actual stock return (RI) and models calculated return obtained is dominated by under valuations and over valuations with few appropriately valued stocks which are insignificant in nature, again the r2 and coefficient of determination < 1 or even negative in some cases .p value >0.05, and the result obtained in Nigeria is not the same with that of the developed economy. It is therefore recommended that, portfolio managers and other financial analysts should not adopt CAPM, as a tool to examine, explain. predict or assess accurately return of stocks traded in the Nigeria stock market.

Investment strategy – a tool for forming sustainable competitive advantages of enterprises

Introduction. Business investment can extend beyond meeting current investment needs arising from the need to replace outdated assets and the structure of economic activity. Ensuring a stable position of enterprises on the market and long-term economic development requires appropriate investment support. This requires creating an investment management system based on scientifically balanced forecasts regarding the directions and forms that ensure the realization of the general goals of the development of enterprises and the adaptation of their activities to the conditions of the external environment. The investment strategy is an effective tool for long-term management of the enterprise's investment activities in the conditions of the realization of the goals of economic development, significant changes in macro- and micro-economic factors, the influence of state regulation on market processes, the state of the investment market and related uncertainties. This determined the choice of topic, research structure, relevance, and theoretical and practical significance. This article aims to form an investment strategy as a tool for obtaining sustainable competitive advantages for enterprises. The results. Understanding the essence of investment and its implementation mechanism in modern conditions will allow food enterprises to optimize their activities, contribute to the company's development, and increase their market competitiveness. Investments are a vital tool in the competitive struggle, as their implementation leads to lower costs, lower prices, increased profits, the emergence of new needs, attracting financial resources, and improving the manufacturer's image. Conclusions. Investments play a pivotal role in implementing innovations, be it scientific, technical, organizational, or socio-technical. These innovations are aimed at use in the operational, investment, or financial spheres of the enterprise, with the goal of generating income and influencing qualitative changes in social and economic terms. Therefore, in the modern market, and particularly in the post-war period, investment and innovation activity in Ukraine will be a key driver of economic development and a prerequisite for enhancing the competitiveness of enterprises. Keywords: investments, innovations, strategic management, influencing factors, fruit and vegetable preserves.

ЕНДОГЕННІ ПЕРЕШКОДИ РИНКОВОЇ ЕКОНОМІКИ ТА МОНЕТАРНО-ФІСКАЛЬНІ ЗАХОДИ ЇХ ПОДОЛАННЯ

The author's vision of endogenous obstacles to the development of the modern market economy and the ways to overcome them in the direction of macroeconomic policy on the labor-value basis of classical political economy are revealed. Three obstacles to economic growth in the course of its selfflowing (without state intervention) processes have been identified, namely: a) violation of valuemoney parity – loss of value adequacy of money; b) the lagging of solvent demand from the volume of product supply, which with a certain cyclicality blocks the reproductive process of production; c)"overproduction" of fictitious capital, which bleeds the real sector of the economy. Regarding the support of value-monetary parity in the economy, the expediency of applying the "monetary rule" of monetarism has been confirmed: the emission of the money supply to the beat with the increase in real GDP. Cyclical crises of commodity overproduction are caused by the lagging of solvent demand from supply by the amount of capital accumulation, and therefore have no rational options for overcoming them, except for damping sharp changes in cyclicality. The main novelty of the author's proposals is directed against the parasitic essence of the "financial economy", which sprouts in the course of the "overproduction" of fictitious capital. Since the root cause of such a harmful phenomenon is the overprofitability of the financial sector of the economy as a result of the value-speculative revaluation of inflated assets, the essence of the author's innovation comes down to a radical reform of the tax system in order to prevent their speculative revaluation: the transition from income taxation to taxation of the market capitalization (market valuation) of large businesses based on stock price. According to the author's assumption, the tax on the market value of assets should lead to the depreciation of the inflated capitalization of financial pyramids and bubbles, that will direct investments flows to the commodity-producing sector of the economy, exempted from taxation of business profits. As a result the tax reform will deconserve the production capacities of the real economy, will lead to the industrial revival of the countries of the world democracy in the face of authoritarian revenge. Especially if these countries are consolidated on the basis of a coordinated monetary and fiscal policy: a single currency and a unified tax system. Opposing the axis of autocratic evil requires it.

Marketing of agricultural products through e-NAM in Tamil Nadu state

Integrating technology in agricultural marketing has marked a transformative milestone in Tamil Nadu, where agriculture is a cornerstone of the economy. The National Agriculture Market (e-NAM) has redefined traditional methods, creating a unified national market for agricultural commodities. This study focuses on marketing selected agricultural products through e-NAM in Tamil Nadu, analyzing trade records from 2017 to 2021, and forecasting up to 2025-2026. Focusing on efficiency and transparency, the study explores the impact of e-NAM on the agricultural trade market. Secondary data spanning 2017-2021 from the Department of Agriculture, Cooperation & Farmers Welfare, and the National Agricultural Market were collected and analyzed using charts and forecasting methods. Trade records for arrived and traded lots, quantities, and values in Tamil Nadu displayed consistent growth. The arrival of lots increased steadily, reflecting potential market expansion. Traded lots and quantities showcased dynamic growth, indicating an expanding trade market. Forecasted values predict a positive trajectory with continuous growth up to 2025-2026. The study underscores the transformative impact of e-NAM in Tamil Nadu. The positive trade quantity and value trends reveal a dynamic and expanding market. Forecasted projections suggest sustained growth, emphasizing the role of the platform in enhancing market efficiency and economic development. While optimistic, acknowledging external factors is crucial for stakeholders to navigate potential challenges. The success of e-NAM exemplifies technologies transformative power in fostering sustainable development in the Tamil Nadu agrarian sector.

Political and legal ideas of Friedrich Hayek regarding the development and significance of the concept of the rule of law

The article examines the concept of the rule of law in the context of the political and legal views of Friedrich Hayek, a famous Austrian economist and philosopher who had a significant impact on modern political and legal theory. The article examines the essence of the concept of «rule of law» from the point of view of F. Hayek, and also analyzes his vision of the interaction of law, the state, and society. The main aspects of the concept of the rule of law, which F. Hayek developed in his writings, are considered. The views of F. Hayek on the role of the state in ensuring the rights and freedoms of citizens, the influence of legal norms on the functioning of the economy and society as a whole are analyzed.
 Attention is drawn to the fact that F. Hayek was one of the most influential economists and philosophers of the 20th century, who defended the ideas of classical liberalism and criticized socialism, interventionism and collectivism. It is shown that in the views of F. Hayek, the rule of law is a necessary condition for the development of freedom, democracy and market economy and actually means that laws should be general, abstract, stable, known and fair, and not aimed at achieving certain goals or interests. Such laws create equal conditions for all market participants and allow the use of scattered knowledge that exists in society.
 The concept of the rule of law is studied in the context of classical liberal ideas and ideals. It is analyzed how F.\ Hayek perceived the idea of limiting the power of the state through legal mechanisms and means protecting the individual rights of citizens. Within the framework of F. Hayek’s political and legal views, special emphasis is placed on the idea of «constitutional liberalism» and the determination of the limits of power. It is studied how these ideas contributed to the formation of the rule of law as a system that guarantees a balance between individual freedoms and the need for state regulation. The main aspects of F. Hayek’s philosophical and political views are highlighted, which have become key to understanding the essence and significance of the rule of law in modern legal discourse.
 The interaction between the rule of law and the economy is analyzed, paying special attention to F. Hayek’s contribution to the formation of the concept and the development of relevant practices. Key aspects such as the role of law, property, and market relations in the context of the rule of law are considered. It is highlighted how F. Hayek determined the importance of the legal foundation for ensuring the stability, transparency and efficiency of the economic environment. In addition, attention is drawn to F. Hayek’s views on the role of the law as a stabilizing factor that should protect the rights of citizens and ensure the efficient operation of economic structures.

Research on Safety Risk Assessment of Prefabricated Building Construction Based on Disaster Sociology

Nowadays, with the development of the economy and the needs of people's lives, the industrialization and informatization of construction have begun to develop rapidly. the rapid development of China's market economy. The original cast-in-place construction technology has become increasingly difficult to adapt to the new requirements of market economy and social construction development. However, prefabricated buildings are increasingly accepted by society due to their advantages of green environmental protection, low consumption, improved labor efficiency, and standardized production. With the promotion of a series of national policies, prefabricated buildings have begun to develop rapidly. However, in the actual construction process, safety accidents such as high-altitude falls, object strikes, lifting injuries, and collapses are constantly occurring. How to effectively reduce safety accidents has become one of the major problems that urgently need to be solved. Therefore, this article aims to establish a comprehensive and scientific safety risk assessment index system for prefabricated buildings by comprehensively analyzing the characteristics of safety accidents in prefabricated buildings and combining disaster sociology theory for similar projects.

Global economic policy uncertainty and renewable energy demand: Does environmental policy stringency matter? Evidence from OECD economies

Existing literature recommends the essential role of renewable energy consumption (REC) in achieving environmental sustainability. Although prior works have investigated the significant factors of REC, the effect of green environmental policies remains largely understudied, particularly in OECD countries. Therefore, this study specifically examines the role of environmental policy stringency (EPS) in enhancing (or diminishing) REC in 27 OECD economies between 2000 and 2019. Furthermore, we aim to specify the determinants of REC and investigate whether EPS could help moderate the relationship between global economic policy uncertainty (GEPU) and REC. To accomplish this, we employ both the fixed effects and panel quantile estimation methods. The findings underline that EPS has a positive and significant impact on REC, indicating that stricter green environmental policies lead to encouraging REC. Besides, the findings show that EPS has a beneficial role in lessening the negative effect of GEPU on REC, and its negative effect on REC is more moderated as moves from environments with low EPS to high EPS. The results also underscore that financial market development, FDI, remittances, technological innovation, and economic development positively promote REC whereas CO2 and natural resources rents have a detrimental impact. The findings are significant and a wide range of policy suggestions is recommended to governments, policymakers, and regulators to attain the energy and environmental sustainability targets set out in SDG 7 and SDG 13, respectively.

Towards Social Justice: Investigating the Role of Labor, Globalization, and Governance in Reducing Socio-Economic Inequality within Post-Communist Countries

In the midst of contemporary global challenges, including the repercussions of the pandemic, geopolitical conflicts, and transitional shifts, a notable surge in attention toward income inequality has materialized, garnering significant focus from both national and international entities. The urgency surrounding this issue is amplified by the imperative need for economic sustainability, recognizing poverty and inequalities as fundamental global security threats. Particularly within Europe, the persistent disparities in living standards, evident across and within countries, serve as potent indicators of enduring poverty and inequality. These concerns underscore potential barriers to the European Union’s pursuit of convergence and cohesion, aligning with the Sustainable Development Goals (SDGs), which prioritize addressing poverty (SDG 1) and reducing inequalities (SDG 10) for sustainable development. This study aims to scrutinize the dynamics of income inequality, concentrating on post-communist countries in Central and Eastern Europe (CEE). Employing panel data analysis, the research identifies and tests variables influencing income inequality in the region, specifically emphasizing labor market structures, globalization, economic development, and governance mechanisms, which hold particular relevance for the region’s context. The primary findings underscore the potential impact of enhancing these sectors in mitigating income inequality within the specified region. These insights provide a foundation for informed policy-making, presenting opportunities to address and mitigate inequalities effectively. They pave the way for fostering pathways toward greater equality and equitable socio-economic development within post-communist nations, ensuring a more inclusive and sustainable future.

When do firms learn? Learning before versus after exporting

AbstractOrganizational learning begins with experience. However, it remains an open question whether firms learn from a particular type of experience: exporting. This study aims to speak into this debate by examining when learning by exporting occurs. Our core thesis is that the timing of learning by exporting depends on a firm’s home market economic development. Drawing on classic theories of organizational learning, we posit that firms in more developed home markets will enjoy greater opportunities for learning before exporting whereas firms in less developed home markets will enjoy greater opportunities for learning after exporting. The former will be observed as a divergence in productivity among firms from different home markets, whereas the latter will be observed as convergence over time. The proposed hypotheses were tested and supported using longitudinal data from the World Bank Enterprise Survey. A range of theoretical and practical contributions are discussed.

An examination of spiritual capital and innovation: insights from high-growth aspiration entrepreneurs in a developing economy

PurposeThis study aimed to examine the relationship between spiritual capital and small business innovation in a developing market economy and the highly religious society of Minangkabau.Design/methodology/approachA quantitative method was used by analyzing the data with partial least squares (PLS), comprising 278 entrepreneurial and high-growth aspiration small and medium-sized enterprises (SMEs) owners in a developing economy such as Indonesia.FindingsThe results showed that spiritual capital was a source of acquiring knowledge from innovation failure situations, serving as a catalyst for the occurrence of novelty and differentiation-related innovation.Research limitations/implicationsThe perspective of spiritual capital was provided within a religious community, showing that future reports should produce comparative analyses from varying contexts. Since understanding entrepreneurs' perspectives and spiritual capital situation remained ambiguous, the performance of qualitative analysis was crucial.Practical implicationsEntrepreneurs were expected to obtain considerable benefits from spiritual capital as a source of inspiration for differentiation and higher levels of novelty-related innovation. Similarly, policymakers should implement the capital and learn from failure to evaluate entrepreneurial SMEs concerning their capabilities.Originality/valuePrevious studies were unable to acknowledge an alternative source of innovation in a specific context, such as entrepreneurial SMEs with high-growth aspirations and spiritual capital. This is because capital contributes to innovation, helps in the assimilation of innovative knowledge and causes novelty-related innovation.

Commercial Bank Loan Risk and Prevention

Under the environment of China's market economy, the healthy and stable development of commercial banks is an important guarantee for the healthy operation of the social and economic system. As an important part of the financial management system, credit management of commercial banks is not only related to the sound development of commercial banks, but also has a direct impact on the stability of the whole society. At the same time, risk factors in financial activities are always following, and if there is no reasonable avoidance and prevention of financial risks, it will affect and threaten the survival of financial institutions. In such a situation, commercial banks should attach great importance to the prevention and control of loan risks, establish reasonable control strategies based on the actual situation, optimize the risk management system, continuously improve the level of risk management and control, ensure that the healthy operation of the financial system has good depth and breadth, and lay a solid foundation for the sustainable development of commercial banks. This paper discusses the risk and prevention of commercial bank loans from the aspects of the concept and characteristics of commercial bank loan risk, the current problems in the risk management and control of commercial bank loans, and the countermeasures to the risk management and control of commercial bank loans, so as to provide reference for promoting the healthy development of the financial industry and standardizing the management of financial enterprises.

Case Study on Earnings Management of Listed Companies in China

Earnings management of listed companies is a key issue in the study of business behavior. Although the research on earnings management has been going on for a long time, with the development of market economy, various problems that are not conducive to corporate profits are likely to occur in the operation of enterprises. For the purpose of avoiding delisting and other purposes, the management of enterprises will carry out earnings management by various means within the scope permitted by accounting standards to maximize profits. Under the background of market economy, the study of earnings management is of great significance to standardize the behavior of listed companies and promote the healthy development of economy. Based on the case of earnings management of YC Technology Co., Ltd., a listed company in China, this paper makes an in-depth analysis of earnings management from the aspects of motivation, means and impact by studying the annual report of the company, and provides reasonable suggestions for improving the company's profitability and promoting economic quality and efficiency.