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Technology for Good - A Study of the Impact of Digital Economy Firms' Participation in the Common Wealth Model on Firm Performance

Description
Under the new generation of technological and industrial revolutions, digital economy enterprises are increasingly becoming major contributors to socio-economic development. Their scale effect and marginal cost effect are different from traditional enterprises, which also raises concern and discussion on whether digital economy enterprises can promote more equitable and sustainable development…

Under the new generation of technological and industrial revolutions, digital economy enterprises are increasingly becoming major contributors to socio-economic development. Their scale effect and marginal cost effect are different from traditional enterprises, which also raises concern and discussion on whether digital economy enterprises can promote more equitable and sustainable development of society. The participation of digital economy enterprises in the common wealth is an important source of legitimacy for their development. This thesis investigates the mechanism of the impact of their common wealth inputs on corporate financial performance by using a sample of digital economy firms among Chinese listed companies as a case study. It is found that, overall, the mechanism of the effect of firms' common affluence model on their financial performance has a positive effect. The main source of this positive effect is the secondary distribution of the firm, i.e., the legitimacy of tax contributions. Other legitimacy such as employee and shareholder legitimacy are not significantly associated with financial performance, while social philanthropic input from tertiary distribution participation has a significant negative effect. In the association of redistribution on firm performance, there is a positive facilitating effect on firms' R&D efficiency and a negative moderating effect of economic policy uncertainty. It suggests that there are differences in the impact of firms' legitimacy initiatives, such as tax contributions, on performance under different firm development expectations. Whereas in the third distribution, firms' R&D efficiency has a crowding-out effect on the economic gains from the legitimacy of common wealth participation, economic policy uncertainty has a reinforcing effect in the third distribution of firms. The above suggests that the development of digital economy firms is more positively facilitated by official legitimacy and currently lacks the constraints of industrial ecology from internal and public scrutiny.
ContributorsZhou, Guangyi (Author) / Wu, Shin-Yi (Thesis advisor) / Hu, Jie (Thesis advisor) / Zheng, Zhiqiang (Committee member) / Arizona State University (Publisher)
Created2023
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区块链DApp治理影响因素研究

Description区块链技术应用（DApp）最早出现在数字货币交易上，也有部分DApp涉及游戏、音乐、教育、出行等场景，但是由于前几年DApp还属于新生事物，多数社会大众对其了解程度不高，加之多数DApp开发和优化的水平有限，用户体验较差，因此并没有良好的市场表现。

尽管如此， 2017年11月一款叫CryptoKitties的区块链游戏正式上线，并且在短时间之内引爆了整个区块链，游戏交易量在1个月内暴涨至1.7万。随后风险资本不断进入区块链行业，并且催生出一大批区块链DApp出来，涉及的应用场景进一步拓展到游戏、赌博、社交、金融、市场、保险、健康等领域。如何设计一套有效的治理机制，从而实现用户留存高、项目前景好，成为多数区块链DApp最为关注的问题。

本文选择CryptoKitties、Mycryptohero、Steemit和NeoWorld这四款区块链DApp作为案例研究对象，通过归纳总结发现这四款DApp都将游戏性、通证经济、社群生态和网络效应作为共同的治理方式。基于这四方面，本文对四款DApp的异同进行了跨案例比较，发现NeoWorld要比其他三款DApp在治理手段上更加丰富和合理。最后，利用136份NeoWorld玩家调查问卷数据，对游戏性、通证经济、社群生态和网络效应对其治理绩效的影响进行了实证检验，结果发现除了社群生态之外，其他三个因素都能提升NeoWorld的治理绩效。

本研究的最大创新是选择在区块链场景应用中具有代表性的4个DApp项目作为案例研究对象，通过归纳总结发现各自在治理手段上的共同之处（影响因素），并根据问卷调查数据对不同影响因素对特定Dapp治理绩效的影响程度进行实证检验，丰富了平台治理相关研究成果，也为社会各界深化认识DApp治理方式和成效，推动DApp行业生态健康有序发展提供参考和借鉴。

关键词：通证经济；社群生态；网络效应；跨案例研究；回归分析
ContributorsHe, Xin (Author) / Shao, Benjamin (Thesis advisor) / Hu, Jie (Thesis advisor) / Zheng, Zhiqiang (Committee member) / Arizona State University (Publisher)
Created2020
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互联网会展平台数据赋能与价值创造研究

Description随着计算机技术、互联网和云计算的高速发展，互联网＋、大数据、平台战略、长尾理论、生态圈、区块链等正在颠覆传统商业模式的运作逻辑，网络化、移动化、平台化趋势逐渐清晰。本文聚焦“互联网+”与会展平台相互融合背景下创新性数字化现代会展平台商业模式，以国内智慧会展行业领头企业——欧马腾为例，深入剖析“互联网+”赋予会展平台新的价值和成长空间，并以数据赋能为切入点，从基于大数据技术的项目监理实践、基于人工智能技术的智能营销、基于大数据的绿色生态平台建设为典型场景，系统阐述互联网会展平台成长和价值背后的重要推动作用。

研究结果发现：第一，互联网技术是欧马腾商业模式创新的重要技术保障，并为其提供了社群营销思维、大数据思维和去中心化理念，推动了欧马腾商业模式变革；第二，大数据技术是欧马腾盈利快速增长的有利支撑。这主要在于欧马腾采用大数据技术对客户售前、售中、售后进行动态跟踪，通过技术手段不断完善客户服务体系和风险控制体系，提升客户的服务体验，促使欧马腾的市场认可度逐渐上升，成为国内展览行业翘楚，品牌优势不断凸显；第三，大数据赋能欧马腾风险控制，近年来欧马腾成功的审图监理项目风险事件率为0背后的核心要素为大数据技术在审图监理项目中的应用，这充分体现了欧马腾数据赋能风险控制的成功典范；第四，人工智能赋能会展行业营销模式创新变革，欧马腾以“人工智能+”新会展生态圈为切入点，构建了智慧营销，助力其营销模式变革和商业模式转型；第五，绿色会展平台助力欧马腾价值发现创造，欧马腾的绿色平台建设能够增强现有客户再次使用的意愿，即提升欧马腾的客户黏性，从而发现和创造企业价值。

本文的研究对我国会展相关企业转型、资源整合、快速发展、可持续发展等具有重要的理论参考价值和实践借鉴。

关键词： 价值创造；数据赋能；互联网会展平台；绿色会展
ContributorsWang, Xiang (Author) / Gu, Bin (Thesis advisor) / Hu, Jie (Thesis advisor) / Zheng, Zhiqiang (Committee member) / Arizona State University (Publisher)
Created2020
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中国房地产基金资产配置的影响因素

Description改革开放四十年，社会财富大量累积，目前国内个人可投资产总额超过190万亿元，专家预测2023年规模将达到220万亿元以上，高净值人群数量不断增加，其财富管理的需求也在不断提升。但随着近年来中国经济增速下行压力增大、市场波动加剧，资产配置在财富管理中的重要性不断提升。资产配置的核心在于资产种类的多元化，而地产基金作为与地产密切相关却又具有相对灵活性和分散性的金融资产，在发达国家如美国、新加坡等地均占据居民资产配置的重要环节，但中国居民配置比例仍然较低，虽然已经有部分超高净值客户将房地产基金作为其资产配置的一部分，但未来随着政策和投资者认知的变化，房地产基金在资产配置中的比例和功能仍有很大的空间。 国内对于房地产私募基金的研究主要集中在管理模式、运营方法和法律风险上，更关注基金本身。国内房地产基金的发展阶段仍比较初期，需要参考国外发展的情况进行借鉴，本文将地产基金纳入资产配置的框架，通过客户调研，应用多元线性回归的方法，分析房地产私募基金的产品因素、政策因素及机构因素对客户配置房地产私募基金比例的影响，并通过分析结论，对基金管理人提出有效建议。
ContributorsZhu, Hong (Author) / Shao, Benjamin (Thesis advisor) / Wu, Fei (Thesis advisor) / Hu, Jie (Committee member) / Arizona State University (Publisher)
Created2021