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Starting from the theoretical mechanism of profit sharing between finance and the real economy, this paper reviews and analyzes the profitability of China's banking industry and makes a horizontal comparison with the banking industry of the United States, Japan, and Germany.

Based on the panel threshold model, it is found that there is a dual-threshold asymmetric effect between banking profit and the growth of real economy. When the net profit rate of the banking industry is lower than 0.491%, the increase in banking profitability will inhibit the growth of real economy due to profit grabbing; when the rate falls within the range of 0.491–0.801%, the increase in bank profitability is conducive to the growth of real economy.

Finance and the real economy are in the most comfortable symbiotic state; when the rate is higher than 0.801%, the continued increase in bank profitability will weaken the promotion effect of finance on the real economy, but bank profitability and the growth of real economy are still in a symbiotic state of positive promotion.

The promotion effect of China's bank profitability to the growth of real economy has shifted from the suboptimal state to the optimal range as a whole, which is attributed to the strong deleveraging and strict supervision of the Chinese government after 2016, the timely and decisive “stepping on the brakes”, pulling the financial sector back from the “illusion” caused by “self-circulated” profits and preventing it from harming the real economy.

With the growing economic impact of e-commerce and the increasing trend of omnichannel mode, more considerate services can be provided to customers. This paper aims to explore the optimal practice of business strategies and enrich the research content of marine tourism omnichannel.

This paper studies the optimal practice of bundling pricing and service effort strategies between two tourism suppliers (TSs) and a travel agent (TA) who distributes complementary products in marine tourism omnichannel considering joint efforts of both sides. This study develops five models by Stackelberg and Nash game and introduces the revenue-sharing contract. All outcomes/results are analyzed and the corresponding numerical and sensitivity analyses are conducted to derive more managerial implications and business insights.

The main findings show that bundling price is directly proportional to inter-channel integration coefficient and service effort level coefficient, and inversely proportional to the price elasticity coefficient. TA tends to provide a higher level of service effort than TSs when TA plays a dominant role. Improving the service effort level unduly leads to a decline in profits. Moreover, TSs and TA can reach a win-win situation under the coordination mechanism and the marine tourism omnichannel can achieve the best performance.

A novel and useful approach towards joint equilibrium decisions of bundle pricing and service efforts in marine tourism omnichannel with complementary tourism products under different operational strategies is proposed.

The United States (US) sugar program protects domestic sugar farmers from unrestricted imports of heavily-subsidized global sugar. Sugar-using firms (SUFs) criticize that program for causing US sugar prices to be higher than world sugar prices. This study examines the financial performance of publicly traded SUFs to determine if they are performing at an economic disadvantage in terms of accounting profitability, risk and economic profitability compared to other industries.

Firm-level financial accounting and market data from 2010 to 2019 were utilized to construct financial metrics for publicly traded SUFs, agribusinesses and general US firms. These financial metrics were analyzed to determine how SUFs compare to their agribusiness peer group and general US companies. The comprehensive financial analysis in this study covers: (1) accounting profit rates, (2) drivers of profitability, (3) economic profit rates, (4) trend analysis and (5) peer comparisons. Quantile regression analysis and Wilcoxon–Mann–Whitney statistics are employed for statistical comparisons.

Regarding various profitability and risk measures, SUFs outperform their agribusiness peers and the general benchmark of all US firms in terms of accounting profit rates, risk levels and economic profit rates. Furthermore, compared to other US industries using the 17 French and Fama classifications, SUFs have the highest return on investment and economic profit rate―measured by the Economic Value Added® margin―and the second-lowest opportunity cost of capital, measured by the weighted average cost of capital.

This study finds nothing to suggest that the US sugar program hinders the financial success of SUFs, contrary to recent claims by sugar-using firms. Notably in this analysis is the evaluation of economic profit rates and a series of robustness techniques.

From the quantum game perspective, this paper aims to study a green product optimal pricing problem of the dual-channel supply chain under the cooperation of the retailer and manufacturer to reduce carbon emissions.

The decentralized and centralized decision-making optimal prices and profits are obtained by establishing the classical and quantum game models. Then the classical game and quantum game are compared.

When the quantum entanglement is greater than 0, the selling prices of the quantum model are higher than the classical model. Through theoretical research and numerical analysis results, centralized decision-making is more economical and efficient than decentralized decision-making. Publicity and education on carbon emission reduction for consumers will help consumers accept carbon emission reduction products with slightly higher prices. When the emission reduction increases too fast, the cost of emission reduction will form a significant burden and affect the profits of manufacturers and supply chain systems.

From the perspective of the quantum game, the author explores the optimal prices of green product and compares them with the classical game.

Previous literature in the Korean stock market has shown that the momentum effect is not observed during pre-2000 period while it is observed during post-2000 period. Given that market illiquidity has substantially decreased during post-2000 period, we examine whether the level of market illiquidity affect the momentum profits. The central findings are summarized as follows. First, our full-sample analysis shows that market liquidity is positively associated with momentum profits, meaning that the observed momentum effect during post-2000 period is related to the decrease in market illiquidity. Second, during pre-2000 period, when the market illiquidity is very high, the illiquidity of past losers is extremely high compared to that of past winners. However, there is no significant difference in illiquidity between winners and losers during post-2000 period. Third, based on this result, we conjecture that the momentum effect is related to the different compensation for liquidity risk between past losers and winners, and test whether this is indeed the case. We find significant momentum profits over the whole period when we consider the compensation for the liquidity risk of past losers and winners. In addition, during pre-2000 period, the return on momentum strategy that controls the liquidity risk is substantially higher than the actually observed momentum profits. In sum, our study suggests that the difference in compensation for liquidity risk between past losers and winners is very important in understanding the momentum effect in the Korean stock market.

The authors investigate the effect of a short-term stock return reversal on the term structure of momentum profits in the Korean stock market following Goyal and Wahal (2015). Their empirical findings show that the term structure of momentum is more pronounced when a return reversal lasts up to two months but is substantially weakened when past performance over the last two months is not taken into account for portfolio formation. Their evidence suggests that the term structure of momentum profitability arises primarily from a carryover of the return reversal from the previous two months.

The purpose of this paper is to examine the correlation between firm size, growth and profitability along with other firm-specific variables (like leverage, competition and asset tangibility), macroeconomic variable (like GDP growth-business cycle) and stock market development variable (like MCR).

Using the COMPUSTAT Global database this work uses panel dynamic fixed effects model for nearly 12,001 unique non-financial listed and active firms from 1995 to 2016 for 12 industrial and emerging Asia–Pacific economies. This interrelationship was also examined for small, medium and large size companies classified based on three alternate measures such as total assets, net sales and MCR of firms.

The persistence of profits coefficient was found to be positive and modest. There is evidence of a negative size-profitability and positive growth-profitability relationship suggesting that initially profitability increases with the growth of the firm but eventually, overtime, gains in profit rates reduce, as size increases indicting that large size breeds inefficiency. The relationship between firm's leverage ratio and its asset tangibility is found to be negative with profitability. The business cycle and stock market development variables suggest a positive relationship with the profitability of firms. However, the significance of estimated coefficients was mixed and varied among different selected Asia–Pacific economies.

The study has economic implications on issues such as industrial concentration, risk and optimum size of firms for practicing managers of modern enterprise in emerging markets.

The analysis of the relationship between the firm size, growth and profitability is uniquely determined under a dynamic panel fixed effects framework using firm-specific variables along with macroeconomic and financial development determinants of profitability. This relationship is estimated for a large and new data set of 12 industrial and emerging Asia–Pacific economies.

本研究擬探討公司的規模、成長和盈利能力之間的關係， 同時亦涵蓋公司特有的其它變量 （如愩杆作用， 競爭和資產的有形性）， 宏觀經濟變量 （如國內生產總值增長與景氣之循環）， 以及股市發展變量 (如MCR) 。

本研究以COMPUSTAT 全球資料庫、使用動態面板固定效應模型，涵蓋幾近12001間獨特的、非金融上市及活躍的公司、覆蓋期由1995年至2016年，涉及12個工業及新興的亞太經濟體。這相互關係分析研究亦於大、中及小型企業內進行，而這些企業就規模方面的分類是基於三個交替的測量而釐定的，如總資產、銷售淨額、以及企業的MCR。

研究發現、利潤係數的持續性是正且適中不強的。有證據顯示、規模的大小與盈利能力是負相關的，而增長與盈利能力則為正相關；這暗示盈利能力初時會因企業的成長而增強，但隨著時間的推移最终當規模增大、利潤率的增長會下降，這提示我們：大的規模會導致效率低下。企業的杠桿比率與其資產有形性的關聯被發現與盈利能力成負相關。經濟週期及股市發展變量暗示與企業的盈利能力之關聯為正相關。唯估計係數的意義會因被挑選之各個不同亞太經濟體而有異和不統一的。

本研究對在新興市場的現代企業內工作的業務經理有其實際作用，因研究為他們在業務問題如產業集中度、危機、公司的最佳規模等問題上提供了經濟方面的啟示。

本研究分析公司規模、成長與其盈利能力的關係時，獨特之處是採用了動態面板固定效應模型，並於應用盈利能力的宏觀經濟和金融發展的決定因素的同時，也使用了企業特有的變量。而這關係的分析研究涵蓋12個工業及新興的亞太經濟體的龐大且新的數據集。

As the wave of liberalization and deregulation have accelerated to relieve rigid controls over airline routes, capacity, and fare setting regimes, Low Cost Carriers (LCCs) have emerged especially in local aviation markets since the 1970s.

This paper has studied the effects of LCC's entry into the domestic aviation market which was pre-occupied by two major carriers, Korean Air (KAL) and Asiana Airlines. Through a simple model describing two situations, prior and post to LCC's entry, we analyzed changes and trends of each airline's output and profit based on the Cournot and two-stage Stackelberg game equilibrium.

In summary, our conclusion consists of five points: (1) Even though JIN Air's entry reduced KAL's respective output and profit, the more JIN Air produces, the higher the joint-profit of KAL and JIN Air is, (2) From the joint-profit aspect, increasing KAL's output to a level than JIN Air's is more profitable on the Gimpo-Jeju route, on the other hand, increasing JIN Air's output higher than KAL's is more profitable on the Jeju-Busan route, (3) Even though JIN Air's entry increase Asiana Airline's output, the more JIN Air produces, the less Asiana Airlines's profit is, (4) Total output in markets as well as total profits of firms will increase under certain conditions, (5) KAL and JIN Air tend to get caught in an unresolved conflict on level of LCC cost.

This study examines the relationship between demand forecasting error and retail inventory management in an uncertain supplier yield context. Replenishment is segmented into off-season and peak-season, with the former characterized by longer lead times and higher supply uncertainty. In contrast, the latter incurs higher acquisition costs but ensures certain supply, with the retailer's purchase volume aligning with the acquired volume. Retailers can replenish in both phases, receiving goods before the sales season. This paper focuses on the impact of the retailer's demand forecasting bias on their sales period profits for both phases.

This study adopts a data-driven research approach by drawing inspiration from real data provided by a cooperating enterprise to address research problems. Mathematical modeling is employed to solve the problems, and the resulting optimal strategies are tested and validated in real-world scenarios. Furthermore, the applicability of the optimal strategies is enhanced by incorporating numerical simulations under other general distributions.

The study's findings reveal that a greater disparity between predicted and actual demand distributions can significantly reduce the profits that a retailer-supplier system can earn, with the optimal purchase volume also being affected. Moreover, the paper shows that the mean of the forecasting error has a more substantial impact on system revenue than the variance of the forecasting error. Specifically, the larger the absolute difference between the predicted and actual means, the lower the system revenue. As a result, managers should focus on improving the quality of demand forecasting, especially the accuracy of mean forecasting, when making replenishment decisions.

This study established a two-stage inventory optimization model that simultaneously considers random yield and demand forecast quality, and provides explicit expressions for optimal strategies under two specific demand distributions. Furthermore, the authors focused on how forecast error affects the optimal inventory strategy and obtained interesting properties of the optimal solution. In particular, the property that the optimal procurement quantity no longer changes with increasing forecast error under certain conditions is noteworthy, and has not been previously noted by scholars. Therefore, the study fills a gap in the literature.

This study established a two-stage inventory optimization model that simultaneously considers random yield and demand forecast quality, and provides explicit expressions for optimal strategies under two specific demand distributions. Furthermore, the authors focused on how forecast error affects the optimal inventory strategy and obtained interesting properties of the optimal solution. In particular, the property that the optimal procurement quantity no longer changes with increasing forecast error under certain conditions is noteworthy, and has not been previously noted by scholars. Therefore, the study fills a gap in the literature.

The authors investigate the manufacturer's choice of discount schemes in a supply chain with competing retailers.

Using a game-theoretic model, the authors build two discount frameworks and compare and analyze the effects of different discount schemes on the performance of supply chain members.

The authors find that the retail price (market demand) in the quantity discount scheme is always higher (lower) than that in the market share discount scheme. The authors also find that the retailers' preference for discount schemes is antithetical to the manufacturer's preference in most cases. However, under certain conditions, there will be a win-win situation where Pareto-optimization occurs between the manufacturer and retailers when they choose the same discount scheme.

On the one hand, the authors assume that the two retailers are symmetrical in market size and operation efficiency. It would be interesting to study the effect of different discount schemes on retailers when the retailers have different market sizes or operating efficiency. On the other hand, the authors study the manufacturer's choice of discount schemes in a supply chain with one common manufacturer and two competing retailers. However, in practice, there exist other supply chain structures. Future research can examine the problem of choices of discount schemes in other different supply chain structures.

This paper help retailers and manufacturers to choose the best discount schemes.

This paper suggests that a high discount scale is not always beneficial (detrimental) to retailers (the manufacture).

The authors build two discount schemes (the quantity and the market share) in a supply chain consisting of one manufacturer and two retailers, and the authors focus on the effects of different discount schemes on the competition between two retailers. By comparing the two discount schemes, the authors study which discount scheme is the better choice for the manufacturer when facing competing retailers.