Modern Economy

Journal Information
ISSN / EISSN : 21527245 / 21527261
Current Publisher: Scientific Research Publishing, Inc. (10.4236)
Total articles ≅ 1,241
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Tao Hongyu, Hongyu Tao
Modern Economy, Volume 11, pp 165-184; doi:10.4236/me.2020.111015

In the Internet era, the real economy and the internet are deeply integrated, and the “Internet+” business model comes into being. Under the modern risk-oriented theory, the risk of customer material misstatement becomes an important factor that auditors focus on, and also becomes the starting point of audit execution and audit pricing. Investment behavior is certainly a factor that auditors need to mainly focus on when assessing the risk of material misstatement. Based on the background of the enterprise’s implementation of the internet business model and drawing on the existing research results at home and abroad, this paper takes the non-state-owned listed companies in 2013-2018 as the research sample, and uses the modern audit risk-oriented theory. The investment behavior is divided into two parts—the financial investment and long-term equity investment to research the impact of the two types of investment on the audit fees from the theoretical and empirical perspectives. Besides, we also analyze the adjustment effect of “Internet+” on the relationship between investment behavior and audit fees. Studies have shown that the level of enterprises’ investment will significantly increase audit costs. Further research shows that “Internet+” strengthens the relationship between corporate investment behavior and audit fees.
Fanhua Zeng, Yangfen Wu, Weichiao Huang, Peng Luo
Modern Economy, Volume 11, pp 1209-1225; doi:10.4236/me.2020.117087

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Christian Garavaglia, Mauro Mussini
Modern Economy, Volume 11, pp 1195-1208; doi:10.4236/me.2020.116086

This paper discusses the term “craft” and its meaning from the consumer’s perspective. Consumers assign value to craft products for their uniqueness, customization, originality, and personality. Craft products are usually sold at higher prices than non-craft products. Therefore, we need to understand what consumers expect in a craft product. We collect original data and present an empirical investigation using conjoint analysis. We focus on the case of craft beer in Italy. Based on our results, consumers believe that the ownership, firm size, and production process are crucial attributes that define craft beer. In particular, we show that consumers believe that craft beer is produced by an independent (family-owned) firm in a small-scale plant and is non-pasteurized.
Alexandros M. Goulielmos
Modern Economy, Volume 11, pp 1155-1175; doi:10.4236/me.2020.116084

Our scientific curiosity led us to study digital revolution—DR, specifically, we asked ourselves whether DR could revolutionize the management of ships, by bringing the object of management i.e. the vessels closer to her manager ashore. We discovered that curious scientists, like Mr. Malthus T R (born in 1766), emerged during the 1st industrial revolution (1750)—and asked again ourselves what happened to his theory (1798)? We found that his theory—motivated by philanthropic considerations about working people, and in particular by the question if society can provide adequate means for their subsistence, caused three contradictory and important impacts. It seems that shipping companies will be obliged to abandon their traditional way of managing ships, i.e. from a long distance—described in some detail—and soon, after ceasing to discuss DR in world conferences—they will adopt DR, presented also in certain detail. Research frequently leads to unpleasant discoveries… Great human minds, unfortunately, supplied us with artificial realities, and so we named them, in this paper, utopians! Their utopia, however, was not about unimportant issues, but for: economic equality; disappearance of poor; equal income (and wealth) distribution; best quality of life and food; and for the benefits of technological progress! Society let technology to oblige people to learn a 2nd profession during their life; to get unwillingly a pension at 65 years of age, by the force of law, while they are certainly fit to work till 80. In addition, our society, in an urgent need of an intensive care, has to beat COVID-19, which took already the life of 289,000 fellows by 12th May, 2020.
Diego Santos Vieira De Jesus
Modern Economy, Volume 11, pp 1121-1140; doi:10.4236/me.2020.116082

Han Wu
Modern Economy, Volume 11, pp 37-50; doi:10.4236/me.2020.111005

This paper adopts the sample of heavily polluting industry listed companies’ data from 2013 to 2018, takes the amount of investment related to environmental protection in “projects under construction” divided by the capital stock as the proxy variable of environmental investment, takes the shareholding ratio of management as the proxy variable of shareholding incentive, empirically tests the relationship between the environmental investment and the incentive of stock ownership, and finds that the incentive of stock ownership significantly promotes the level of environmental investment. In addition, the incentive effect of stock ownership on the level of environmental investment only exists in the sample’s fierce industry competition.
Bin Lu
Modern Economy, Volume 11, pp 28-36; doi:10.4236/me.2020.111004

The influencing factors of audit opinions have always been the focus area of academic research. This article categorizes research by Chinese and international scholars, and analyzes the research status of audit opinions. Starting from the factors that affect audit opinions, they are divided into two aspects: Chinese and international, and they are discussed in order to find the commonality and characteristics of related research and provide a reference for in-depth research on audit opinions.
Yuqi Chang, JinMiao Hu
Modern Economy, Volume 11, pp 17-27; doi:10.4236/me.2020.111003

With the rapid development of the world economy and the increasingly prominent trend of globalization, retail enterprises have gone abroad to the world. But their operation in the Chinese market is not optimistic. This paper mainly researches multinational retail chain development strategy in China, and analyzes their poor performance in Chinese market, then learns from foreign retail chain enterprise development experiences, puts forward some suggestions for Chinese retail enterprises to enter the foreign market, fully explores the competitive advantages of Chinese retail enterprises.
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