Current Issue

2018, Vol. 20 No. 3 Published:30 June 2018

Empirical Analysis of Herd Effect of Domestic Crowd-funding Investment Behavior

ZHAO Bao-guo, GAI Nian

2018, 20 (3): 1-9.

Abstract ( 51 ) PDF (0 KB)( 444 )

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Taking the data from several domestic representative crowd-funding websites — ZhongChou, JD Finance and MoDian, it is found that herd effect exists in domestic crowd-funding by using STATA to analyze characteristics of domestic investment behavior Based on herd effect in domestic crowd-funding, some suggestions are put forward to the innovative businesses, individuals, crowd-funding websites, public investors and  regulatory authorities

Comparative Study of Online Review and Inquiry Learning in E-Commerce Environment

SHI Wen-hua, WANG Xing-yao

2018, 20 (3): 10-17.

Abstract ( 58 ) PDF (0 KB)( 88 )

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 The way to ask consumers questions to get  attributes of product quality information has been implemented on major e-commerce platforms Educators call it ′inquiry learning′, which is asking questions to buyers or reading other consumers′ reviews This paper compares online reviews with inquiry learning, and explores  differences among the number of comments,  length of reviews and emotional intensity of comments based on different types of products (experiential products and search-based products) Research data was from real online reviews and answered questions of Amazon Mall in the United States, and independent sample t-test and other methods were used for data analysis Results showed that there was a significant difference between the number of comments and the length of comments, and the number and length of comments were significantly greater than those of questions and answers, and the product type had no significant effect on the number of reviewsDifferences in emotional intensity between online reviews and questioning responses were influenced by emotional tendencies

Type and Penalty Evaluation of Click Farming on Online Trade Platform

WANG Gong-zheng

2018, 20 (3): 18-24.

Abstract ( 51 ) PDF (0 KB)( 82 )

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The click farming behavior on online trade platform causes harm to society, and penalty evaluation should be made based on different types of behavior In the type of self-click farming to create a high transaction volume and credibility, the operators don′t commit a crime, but their swindling virtual property should be convicted of fraud In the type of click farming to the competitors, if it brings significant loss or other serious damage to competitors, operators should be convicted of the crime of damaging the business reputation, and by using platform regulatory rules, operators conduct click farming which makes competitors suffer loss, but this behavior cannot be evaluated by the crime of damaging production Operators establishing click farming entities don′t commit a crime, but thase who create illegal websites or the communication groups to provide service about the click farming should be punished by the crime of illegal business operation The hierarchy of legal interest protection should consider the object of legal interest protection and the penalty boundary should be focused on the amount and the severity

Investment Benefit Analysis of TD-LTE Based on Scene and Type

CUI Xin-kai1,2, GAO Xiang-chuan1

2018, 20 (3): 25-32.

Abstract ( 55 ) PDF (0 KB)( 86 )

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In order to better guide the follow-up network construction of TD-LTE and realize the accurate network construction on the premise of maximizing the investment benefit, scale of different scenes and different base station types and proportion of the flow rate are analyzed based on the running data of the present network, by combining the business development trend and target, flow and voice revenue as well as the financial statements Through the analysis of the data from project input, business income, operation cost and so on, and combining engineering economic rating model, the investment benefits of various scenes such as city, county, town, country, as well as various base stations, such as macro station, micro station, indoor distribution, and enlargement are explored Through analysis and comparison, suggestions for future investment direction and investment priorities of the studied company in TD-LTE network is given

Impact of Business Scenarios on Users′ Willingness to Provide Personal Information

HUANG Yi-jun, JIANG Huai, SHI Cheng-yu

2018, 20 (3): 33-42.

Abstract ( 50 ) PDF (0 KB)( 83 )

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In order to explore the impact of business scenarios on users′ willingness to provide personal information, relevant literature reviews on business scenarios and willingness to provide users′ information are made, and structural equation model of influencing factors of business scenarios on user′s willingness to provide personal information based on perceived value theory and privacy computing model are built 440 questionnaires were distributed to the users in the social scene and financial scene for hypothesis testing and data analysis Results show that different business scenarios have significant differences on users′ willingness to provide personal information

Realization Path of Internet + Home Care Service in the Era of Wisdom

LI Pan1, ZENG Rui-ming2, XU Min3

2018, 20 (3): 43-49.

Abstract ( 58 ) PDF (0 KB)( 83 )

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 With the increasing abundance of Internet+ resources, home care service is facing a breakthrough development opportunity The current domestic Internet+ home care service model isn′t mature yet, and it is faced with three major issues of the mismatch between supply and demand, the difficulty in effective resource integration and the constraint from concept on service efficiency However, new concepts, new empowerment and new opportunities brought by the application of ′Internet+′ will make home care service gain greater room for development By injecting new vitality into the home care service, and coordinating the responsibilities of the government, the market and society, the quality of home care service will be improved and the healthy and sustainable development of home care service will be realized

Internet Vehicle Rental Scheduling Strategy with Time Windows

HE Li-kai, CHEN Dong-lin, CHEN Chuan

2018, 20 (3): 50-58.

Abstract ( 63 ) PDF (0 KB)( 74 )

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Vehicle scheduling in internet vehicle rental mode can effectively eliminate the ′tide phenomenon′, playing important roles in reducing operating cost of vehicle rental companies and improving user experience Aiming at users′ requirements on service time, the concept of time windows is introduced in vehicle scheduling, to transfer the problem to vehicle routing problem with time windows (VRPTW) Mathematical model is established according to the restraints during vehicle scheduling process in Internet vehicle rental, to design the genetic algorithm By taking the simulation data as the test case, analysis of the scheduling result of the genetic algorithm is conducted The experimental result verifies validity of the model and algorithm

Social Media Big Data, Investor Sentiment and IPO Underpricing

DU Wei-an, L Jia-ling

2018, 20 (3): 59-68.

Abstract ( 50 ) PDF (0 KB)( 73 )

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Social media provides an opener platform for individual investors to express opinions and gather information In order to study the relationship between investor sentiment and IPO underpricing deeply, web crawler (Python) technology is used to mine social media big data, and a stock market emotional lexicon is manually constructed to analyze investor sentiment and IPO underpricing included in social media speeches The results show that the positive sentiment of investors of the social media big data has a significantly positive correlation with IPO underpricing, the negative sentiment of investors has a significantly negative correlation with IPO underpricing, and negative sentiment has a more significant effect on IPO underpricing rate Further research shows that social media big data can be used as a reliable index to measure investor sentiment, which provides new methods for measuring investor sentiment and lays the theoretical foundation for government′s regulation on social media information

Evaluation on Preferential Taxation Policies for Small and Micro Businesses

TIAN Fa, XIE Fan

2018, 20 (3): 69-75.

Abstract ( 50 ) PDF (0 KB)( 78 )

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A comprehensive evaluation on the preferential taxation policies for small and micro businesses is made from the perspectives of tax saving, actual tax burden, financing, capital allocation and indirect incentives The results show that, though questions still exist, current preferential tax policies have been playing positive roles in sustained and healthy development of small and micro businesses The countermeasures are to strengthen the support of the preferential tax policies to small and micro businesses, reduce their actual tax burden, optimize financial approaches, rationalize resource allocation by encouraging inflow of capital and improve the indirect preferential tax policies arrangements

Relationship Between TMT Heterogeneity and Enterprise Performance Based on Moderating Role of Ownership Structure

CHEN Hui，LIU Yu-ling，XU Hui-juan

2018, 20 (3): 76-86.

Abstract ( 59 ) PDF (0 KB)( 75 )

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152 small and medium-sized listed companies are taken as research samples, and by using multiple regression analysis, the relationship between heterogeneity of the top management team (TMT) and the enterprise performance is empirically analyzed On this basis, the moderating effect of the ownership structure on this relationship is also analyzed The results show that both heterogeneity of education level and  heterogeneity of the tenure have a significant impact on the enterprise performance The ownership structure has a clear moderating effect on relationship between the heterogeneity of TMT and the enterprise performance The proportion of the circulation shares and the proportion of the executive stock have an enhanced moderating effect on the heterogeneity of the tenure and the enterprise performance This study expands and improves the relationship model between the heterogeneity of TMT and the enterprise performance, and introduces the proportion of the circulation shares and the proportion of the executive stock as the adjustment variables, which enriches the research model based on the ownership structure as the regulating variable Some suggestions are put forward for the improvement of the right structure and the construction of TMT

Connotation and Evaluation of Vulnerability of China′s  ′Finance-Technology′ Coupling System

WANG Ren-xiang, CUI Ya-qian

2018, 20 (3): 87-96.

Abstract ( 56 ) PDF (0 KB)( 81 )

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 To promote the deep integration and coordinated development of China′s finance and technology, the characteristics and connotation of ′Finance-Technology′ coupling vulnerability based on the vulnerability theory are analyzed According to the internal structure of the coupling system, an evaluation index system is constructed to evaluate the vulnerability of the coupling system by using the clustering analysis method, and a comprehensive evaluation model is also established to calculate the vulnerability of China′s ′Finance-Technology′ coupling system from 2007 to 2016 with correlation data The study shows that China′s ′Finance-Technology′ coupling vulnerability index has evolved from heavier vulnerability to mild vulnerability, but it has been slowly rising in recent years The explanation for this is that during the financial crisis, the vulnerability index was relatively high, and a series of policies introduced after the crisis effectively reduced the vulnerability index Then, due to the volatility of the financial market, the unbalanced development of the science and technology system structure, the low-level maturity of technology and the lagging development of regulatory technology, the ′Finance-Technology′ coupling vulnerability index has an upward trend

Empirical Study of Students′ Participation Behavior of MOOC ——Based on Foreign Language Courses on ′China University MOOC′

ZHANG Lu-ni1,2,TANG Shou-lian1, LIU Yu-hong3

2018, 20 (3): 97-103.

Abstract ( 57 ) PDF (0 KB)( 73 )

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 The influencing factors of influence of foreign language MOOC courses and the attention degree of discussion forum posts are researched, which will provide strategies and suggestion for design, teaching, discussion, interaction and platform improvement to foreign language MOOC courses, so as to expand the influence of foreign language MOOC courses The courses and users′ data from the domestic well-known MOOC platform is captured in the process, the regression method is applied to decompose the influencing factors of course participation and attention degree of posts, and text mining is used to obtain hot spots The study found that the number of teachers′ followers, teaching experience and discussion forum activity level significantly affected  participation of the course, the posts about English courses for special purposes and cross-cultural communication obtained more attention, and  posts about study inquiry and course design obtained more attention as well Teachers and platform developers should make an improvement in the following aspects: course design, teaching forms, interactive modes and ease for use of platform

Design of Point Incentive Mechanism in Mobile Learning Application

LI Qing, LI Ying-ying

2018, 20 (3): 104-112.

Abstract ( 54 ) PDF (0 KB)( 77 )

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Incentives can stimulate learners′ initiative and enthusiasm, and have a profound impact on the gamification teaching design of educational application At present, the mobile learning application in the education market generally favors the use of the point incentive mechanism in game design to guide learning, but when investigating and analyzing the literature on the game-based learning incentive mechanism at home and abroad, it has been found that few studies have been detailed to the point of incentive mechanism In this study, 50 mobile learning applications were selected by stratified sampling, and 23 applications with point incentive mechanism were screened Three point modes of value, experience and mixture are summarized, and  typical cases in each mode are analyzed The four major design principles of point incentive system are further discussed, which are prompt feedback mechanism, internal and external motivation integration, correlation between points and real world, no ethics violation Finally, the common misunderstandings in the design of point incentive mechanism are elaborated, hoping to benefit the design practitioners of educational games and the experts and scholars researching this field