Market Supervision Research Articles

The Prevalence of Implicit Consumption in China

In China, implicit consumption usually occurs in recent years. It has greatly troubled many consumers daily lives, but many people dont know how to change this problem. In this research, the author analyzed the causes, laws violated, and solutions of implicit consumption in the Chinese economic market. First of all, the author listed some examples of implicit consumption in the catering market and described the current situation, which is relatively common. Then, a study was designed through the difference-in-difference method to explore people's real attitudes and thoughts toward implicit consumption. By dividing random people and people with legal knowledge into two groups, three distinct points of view emerged, and the majority of them did not choose to defend their rights Through the results of this study, the author deeply analyzed the causes of implicit consumption, mainly from the perspective of customers' personal factors and legal policies. The lack of legal knowledge among people and the lack of strict restrictions in Chinese laws on implicit consumption have both influenced its prevalence. In addition, the author also indicated the laws violated by implicit consumption, including the right to know, the right to independent choice, and the law of clearly marking prices. Finally, the author put forward some solutions to solve implicit consumption. The problem of rampant implicit consumption in China can be solved by popularizing legal knowledge among consumers, strengthening market supervision by the regulatory department, and formulating clear legal provisions to limit implicit consumption.

Research on the Utilization of Solid Waste Resources in China's Construction Industry from a Market-Oriented Perspective

This article analyzes the current situation of solid waste resource utilization in China's construction industry from a market-oriented perspective, and explores the promoting role of market mechanisms in the utilization of solid waste resources in construction. Through the analysis of the amount of solid waste generated, disposal methods, and the level of resource utilization in the construction industry in China, it is found that there are problems such as low resource recovery efficiency and imperfect market mechanisms in the current utilization of solid waste resources. Therefore, this article proposes a series of suggestions to promote the utilization of solid waste resources, including the formulation of sound policies and regulations, strengthening market supervision, and nurturing market entities. At the same time, this article also looks forward to the future development of the market for the utilization of solid waste resources in construction, believing that with the continuous improvement of policies and regulations and the soundness of market mechanisms, the market for the utilization of solid waste resources will usher in broader development space.

Changes in the electricity market under the participation of diverse participants and its supervision necessity analysis

With the demand for energy sustainability and the development of the low-carbon power system, distributed energy, energy storage, demand response, and other diverse market participants will participate in the electricity market, which brings new changes to the transaction organization process of the electricity market. This paper first introduces the changes in the electricity market under the participation of diverse market participants from two aspects of market transactions and market power. Diverse participants can provide a variety of auxiliary services in the electricity market while they have potential market power in the process. Secondly, the current supervision measures used in the foreign electricity market in the order of ex-ante, interim, and ex-post are reviewed and four common supervision indexes are introduced. Finally, the market power and the supervision necessity of the electricity market under the participation of energy storage are analyzed by case studies. As shown by the simulation results, energy storage with excellent regulating performance has market power in providing frequency regulation services, but the conventional supervision indexes fail to detect the market power of energy storage effectively. The purpose of this paper is to illustrate the necessity of the market supervision method for adapting to the changes under the participation of diverse participants.

Economic and carbon emission performance of green farming by marketing cooperatives

Investigating the economic and carbon emission performance of green production in marketing cooperatives is important in clarifying China’s green transition path and promoting green development. In this paper, we estimated the economic and carbon emission performance of green production in marketing cooperatives using survey data from 340 samples in Shandong Province, China. The results show that green farming improved the performance of marketing cooperatives, and the larger the scale, the better the performance. It is still valid after weakening the endogenous problem through endogenous transformation regression. Particularly, green farming has a more significant effect on the performance of low-performing marketing cooperatives. In addition, the carbon emission per unit area of green produces are significantly lower than that of conventional produces, and the carbon emission per unit yield of most green produces lower than that of conventional produces. Therefore, strengthening the standardized development of marketing cooperatives, promoting green technology research and development, and standardizing the market supervision of green produces are important ways to achieve the economic and carbon emission performance of green produces in China, as well as to promote China's green transformation.

The effects of environmental information disclosure on stock price synchronicity in China

Environmental information disclosure has attracted the attention of the capital market because it can convey corporate characteristic information. But there needs to be direct evidence that environmental information disclosure can improve the market's overall efficiency. This study examines whether corporate environmental information disclosure can improve the information efficiency of the capital market. This study takes Chinese listed companies from 2008 to 2021 as samples, constructs a panel fixed effect model, and adopts multiple linear, instrumental variable method and Heckman sample selection model. We find that the disclosure of environmental information in the Chinese market reduces the information efficiency of the capital market represented by the synchronicity of stock prices. The reason is that the information after greenwashing by enterprises needs to be of better quality and more obscure, which disrupts market information. Environmental information disclosure by enterprises prone to greenwashing significantly affects stock price synchronicity, such as low institutional ownership, non-state-owned, growth, and manufacturing firms. Finally, this paper discusses the impact mechanism and confirms that stock liquidity and analyst coverage are the two paths through which environmental information disclosure impacts stock price synchronicity. This study is significant in encouraging the government to strengthen market supervision, promoting enterprises to disclose high-quality environmental information, and improving the pricing efficiency of the capital market.

Payment behavior of Chinese online literature readers: The use of planned behavior and social capital theories

The Chinese online literature market is a developing market with great potential. The study discussed the influence of online literature readers' social capital on readers' planned behavior and aimed to understand the influencing factors of payment behavior among Chinese online literature readers. The researchers used random sampling and received 424 valid questionnaires. Based on the theory of social capital and planned behavior, this study constructed a structural equation model to analyze the data. The results showed that social capital positively affects attitudes, subjective norms and perceived behavioral control. Furthermore, attitude, subjective norm and perceived behavioral control all have significant effects on intention. Intention can positively and significantly influence behavior. According to the research results, this study believes that to realize the payment behavior of Chinese online literature readers, online literature companies should provide more opportunities to acquire readers' virtual social capital, primarily relational social capital. At the same time, Chinese online literature companies should be aware of the necessary responsibility to design and build high-quality Chinese online literature platforms, establish a positive and healthy brand image, actively accept the state's and the market's supervision and establish a corporate strategy oriented by social responsibility.

Behavioral Finance in the Digital Economy

The paper reveals the essence of «behavioral finance»: it is a field of scientific knowledge that studies the influence of emotions, cognitive biases and social factors on financial decision-making. Behavior is an approach to the interaction of a person with the outside world. It is obvious that the study of behavior lies more in the plane of biology, physiology and psychology than in jurisprudence. At the same time, it should be understood that it is the behavior of legal entities that affects public relations, which, in turn, are regulated by the norms of law. The paper reveals the factors influencing the behavior of consumers of financial services in the digital economy. In particular, it is indicated that people have fundamentally different attitudes towards cash and monetary funds that are not expressed in cash (non-cash, electronic and digital). In this context specifically, it is necessary to note the general information background associated with blockchain technology. Thanks to the media and against the background of the success of bitcoin and a number of altcoins, at some point in society there was an opinion that investing in cryptocurrencies (and later in NFTs) is more profitable than investing in traditional financial instruments. All of the above leads to the fact that a citizen who is motivated to earn easy money, but does not have the necessary knowledge, loses money as a result of unsuccessful investments in the financial market, and often simply becomes a victim of fraud. The paper highlights the problem of the practical use of behavioral finance in the framework of legal regulation of public relations emerging in the financial market. At the same time, the Bank of Russia evaluates, however limited, behavioral aspects in the process of supervision of the financial market.

How do environmental taxes affect green process innovation? Evidence from the Chinese manufacturing industry

PurposeThe absence of government intervention and market supervision cannot effectively promote green process innovation in manufacturing industries. As a new government regulation approach, environmental taxes provide a platform to internalize the externality of environmental pollution. This paper empirically investigates the impact of environmental taxes on green process innovation and the moderating effects of industry pollution heterogeneity and green credit.Design/methodology/approachThis research collects manufacturing industry data ranging from 2008 to 2020, resulting in a total of 351 observations. Time-individual, two-way fixed effect models are constructed to examine the hypotheses.FindingsThe results indicate environmental taxes have an inverted-U effect on green process innovation in manufacturing industries. Implementation intensity of the current environmental taxes on China's manufacturing industries does not reach an inflection point. Further analysis suggests that environmental taxes exert influence on the inverted-U relationship with low-pollution industries displaying a steeper curvilinear pattern than high-pollution industries. Moreover, the analysis shows that green credit plays a moderating role in the inverted-U relationship, as low green credit provides more limited stimulus than high green credit in terms of the effect of environmental taxes on green process innovation.Research limitations/implicationsThis study offers empirical evidence to accommodate negative externalities of corporate production and provides new perspectives in nudging corporate green-process innovation.Originality/valueThis paper verifies the effect of environmental taxes on green process innovation amid industry pollution heterogeneity by introducing an industrial-level analysis unit. This study improves the means by which environmental taxes are measured. Existing literature has narrowly used pollution discharge fees as a proxy for environmental taxes. The authors have summed up the taxes on vehicle and vessels, urban land use, urban maintenance and construction, vehicle purchases, waste gas, wastewater and solid waste to measure the effect of environmental taxes in this study.

Spermic Toxicity Test of Medical Devices for Assisted Reproductive Technology

China has been putting great effort to promote the human assisted reproduction technology (ART) but impose a stringent regulation over the market at the same time. Thus, the safety and effectiveness tests at pre-clinical stage became even more important. Human sperm toxicity test can be used to evaluate the potential effects ART products have on human gametes. To provide a thorough summary and analysis over sperm toxicity evaluation of medical devices for ART operation, as well as to forecast its future direction, currently available test methods and evaluation indicators related to human sperm were elaborated here. However, no test can apply for all kinds of products. It especially holds water in ART field. Not mention the resource of human sperm is scarce worldwide. Thus, this method’s weakness and risk points were stated. Besides, possible alternative approaches for further improvement were also provided. The main purpose of pre-clinical tests and the market supervision never is to impede the progress of the industry, but to provide a reliable and robust system that cultivates competent and creative researchers as well as companies. Ultimately, by pulling government, hospital and industry together, we are able to achieve the primal goal of ART, happily having healthy offspring.

A Residual Dense Lightweight Group Convolution Neural Network for Identifying the Gas Information of Different Levels of Tea

In the tea market, it is common for low-quality tea to cheat consumers by pretending to be high-quality. This work proposes a fast and nondestructive tea quality detection method, which combines an electronic nose (e-nose) system with an adaptive gas information recognition method. First, based on a PEN3 e-nose system, the gas information of different levels of tea is obtained. Second, a lightweight group convolution (LGC) module is proposed to adaptively focus on the important features that affect the classification performance of gas information and reduce the number of parameters. Finally, residual dense block (RDB) is introduced to fuse the shallow and deep features to avoid feature degradation, and residual LGC neural network (RLGCNet) is designed to recognize the different levels of tea gas information effectively. In the comparison results of the ablation study and multiclassification model, RLGCNet obtained the best classification accuracy of 98.50%, the precision of 98.49%, and the recall of 97.69%. In conclusion, the theoretical research results provide an effective detection method for the quality supervision of the tea market.

URBAN PLANNING AND PHYSICAL PARAMETERS OF CITY SPACES

The article considers the parameters of urban spaces, which are recommended to be used to create a safe and comfortable environment for human activity, meet the modern level of development of urban planning and the needs of residents.
 The purpose of the publication is to develop an information model of urban public space and its urban planning and physical parameters.
 As a result of the analysis of foreign and domestic scientific works and their systematization, an information model of urban spaces as an object of regulation was built.
 A comprehensive model of urban spaces has been formed; their functional purpose is specified. The basic requirements (provisions) are established, which are mandatory and are the result of modeling the safety and comfort parameters. Defined requirements, which are confirmed by the established practice of design, construction and operation. Also defined requirements based on a professional understanding of the object of regulation.
 Peculiarities of regulation of physical parameters of urban space are considered. According to the authors, the work carried out will contribute to the introduction of an effective mechanism for providing a comprehensive urban planning solution. Systematized requirements will help ensure a safe, reliable and comfortable environment. As a result of its design and construction, the mechanism of market supervision and fulfillment of obligations defined by the Ukraine-EU Agreement will also be launched.

Problems, causes and countermeasures of China's pension insurance system

Under the background of global population aging,, it is of great practical importance to solve the problem of old age for the growing number of elderly people and to improve their quality of life. The old-age insurance system is a state-led approach to solving the old-age problem. This paper focuses on the current situation of the operation of China's pension insurance system, and discusses it from three aspects: problems, causes, and countermeasures. The existing problems are studied from four perspectives: the gap between income and expenditure of the fund, the omission of the population covered, the unbalanced development of the three pillars, and the imperfect investment system; the causes are analyzed through the common root causes of the problems; the proposed solutions focus on the problem of funding gap, and consider both expanding sources and reducing expenditures. They should not only give full play to the government's macro-control and market supervision, but also actively use the market's ability to allocate resources to jointly promote the steady development of the endowment insurance system.

Study on the Affecting Factors of Land Circulation in Minority Areas of Ledong County, Hainan Province, China

Land circulation can promote large-scale operations, improve land-use efficiency, and increase farmers’ income. Taking 186 rural households in Ledong County in Hainan Province, the study uses binary logistic regression to analyze the factors affecting farmers’ willingness to transfer land. The results show that age, education level, and family labor force were negatively correlated with farmers’ willingness to accept land circulation. Meanwhile, gender, nonagricultural population, source of family income, annual family income, infrastructure, and understanding of policy were positively correlated with willingness to transfer. Recommendations regarding strengthening the training and education of farmers, increasing publicity, improving farmers’ awareness of land circulation, promoting market supervision, enhancing the land circulation market mechanism, and improving the rural security system are proposed. Ledong should also strengthen policy support regarding the cultivation of new agricultural business entities, and establish an intermediary service platform for land circulation. This study, therefore, aims to provide a theoretical and practical basis for a farmland circulation mechanism and the large-scale operation of agricultural land in Ledong County.

China’s shipping market supervision system under theRCEP: Influence, challenges and countermeasures

The entry into force of the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement, has injected new vitality into multilateralism and free trade, against a background of global economic and political instability. Its core concept is to liberalize and facilitate trade. Regulation of the shipping market warrants attention. Under the RCEP, the international shipping industry is characterized by a digital development trend in shipping supervision, continuous upgrading of shipping management and supervision capabilities, and more open and transparent shipping market supervision. However, in the process of implementing new rules for shipping market supervision, there are still some challenges, such as logistics risks and loopholes in shipping supply chains, insufficient coordination of shipping supervision among RCEP member countries, and an imperfect legal and regulatory system. This paper therefore suggests that under the RCEP, China should strengthen the anti-risk ability of shipping supply chains, promote coordinated supervision among member countries, strengthen environmental protection, and promote the coordination of digital supervision.

Evaluation of the Medical Resource Allocation: Evidence from China.

Medical resource allocation is an increasingly crucial issue. It is vital to understand residents' (people living in the local area) evaluation of it. This study explores residents' evaluation of medical resource allocation and its determinants with the dimensions of medical resource adequacy, balance, publicness, and accessibility. We used data from the China General Social Survey (CGSS). Binary logistic regression models were constructed from the four dimensions separately, and we compared the differences among them. The study's results showed that accessibility and publicness are the highest and lowest dimensions of residents' evaluation, respectively. The high evaluation of social equity may be a positive contributor to a higher evaluation of publicness and accessibility. The central region residents had the lowest evaluation of adequacy (OR = 0.697, p = 0.010) and balance (OR = 0.642, p = 0.008). To sum up, perceived social equity, social trust, and social class are crucial factors. Based on the results, the government should strengthen the supervision of the medical market, increase financial support for the health field in the central region, and establish a multi-level medical security system that may help optimize the allocation.

Analysis of the Ownership Dispute between Vanke and Baoneng Acquisition and Anti-acquisition

The planned acquisition of Vanke by Baoneng Group, which started in 2015, is the most typical acquisition and reverse takeover case of listed companies in the contemporary Chinese capital market. In view of the market supervision loophole in Baoneng Group's insurance capital listing, as well as the respective problems of the acquirer and the acquirer, this paper will carry out research to analyze and evaluate the case in detail. To be specific, the reasons for Baoneng's intended acquisition, the strategies adopted for the cases as well as the countermeasures of Vanke will be analyzed. Besides, the capital source and mode characteristics of Baoneng system will be explored, whose volume is significantly different from Vanke's, so as to draw inspiration from this case. According to the analysis, the hidden danger of Baoneng is that the investment is too aggressive, and the financing means are too risky. Moreover, Vanke's problems are a fragmented shareholding structure and loopholes in its articles of association. These results shed light on guiding further exploration of corporate governance structure and future domestic capital market development.

A Closed-loop Hybrid Supervision Framework of Cryptocurrency Transactions for Data Trading in IoT

The Device-as-a-service (DaaS) Internet of Things (IoT) business model enables distributed IoT devices to sell collected data to other devices, paving the way for machine-to-machine (M2M) economy applications. Cryptocurrencies are widely used by various IoT devices to undertake the main settlement and payment task in the M2M economy. However, the cryptocurrency market, which lacks effective supervision, has fluctuated wildly in the past few years. These fluctuations are breeding grounds for arbitrage in IoT data trading. Therefore, a practical cryptocurrency market supervision framework is very imperative in the process of IoT data trading to ensure that the trading is completed safely and fairly. The difficulty stems from how to combine these unlabeled daily trading data with supervision strategies to punish abnormal users, who disrupt the data trading market in IoT. In this article, we propose a closed-loop hybrid supervision framework based on the unsupervised anomaly detection to solve this problem. The core is to design the multi-modal unsupervised anomaly detection methods on trading prices to identify malicious users. We then design a dedicated control strategy with three levels to defend against various abnormal behaviors, according to the detection results. Furthermore, to guarantee the reliability of this framework, we evaluate the detection rate, accuracy, precision, and time consumption of single-modal and multi-modal detection methods and the contrast algorithm Adaptive KDE [ 19 ]. Finally, an effective prototype framework for supervising is established. The extensive evaluations prove that our supervision framework greatly reduces IoT data trading risks and losses.

Research on prediction method of financial stock curve based on BP neural network

In the development of social and economic construction, the stock as an important financial instrument, after the recent decades of regional pilot and nationwide expansion, the stock market supervision mechanism and trading principles have become more and more perfect, the level of our capital market has become more and more rich, the overall scale has expanded rapidly. In order to make investors understand the changes of macro market environment faster and reduce the threshold of investors' investment and trading, stock exchanges and some financial service institutions put forward to use artificial intelligence algorithm to build a prediction system on the basis of integrating the accumulated experience in the past. Based on the research of financial stock curve prediction in recent years, this paper proposes a neural network system for stock market prediction. The final experimental results show that BP neural network can make short-term prediction of the stock market. As long as the appropriate prediction model is selected, it can get more than the average market profit level.

Social Impact of "Take-out Fast Food" from the Perspective of Sociology

With the continuous development of the social economy, the "take-out fast food" industry has come into being and gradually comes into the public's view. This paper mainly analyzes the social impact of "take-out fast food" from a sociological perspective, i.e., the positive and negative impacts, and puts forward some constructive opinions and measures on how to make "take-out fast food" more environmentally friendly and healthy, which can help; In this regard, it is necessary to further strengthen the market supervision, enhance food quality and safety, strengthen the standardization of fast food delivery and enhance the safety awareness of riders, as well as to continuously strengthen the ability to deal with problems after the sale and to strengthen people's concept of green consumption.

Effectiveness test and improvement of CAPM model in Chinese stock market

With the increasing openness of capital market and supervision of stock market, plenty of scholars have made new explorations on the effectiveness of CAPM in Chinese stock market. On this basis, the way to improve the model according to the characteristics of the market is necessary to be further evaluated. Based on the analysis, this paper finds that CAPM and its related three-factor and five-factor models are not very suitable for Chinese stock market. However, CAPM series models are more suitable for the development of more mature Hong Kong stock market. The CAPM model can be improved by replacing redundant factors and adding new effective factors according to market characteristics to make it more suitable for selecting market. These results shed light on guiding further investigations to make appropriate improvements to CAPM series models.