Prof. Bai Peiwen
Xiamen University/School of Economics, China
Speech Title: Does the Development of Digital Economy Increase or Decrease the Markup of Firms?
Abstract: The integration of the digital economy with the real economy is a major issue for sustainable economic development in the new era.In this paper, we use the markup of firms as a combined reflection of the net value of these two effects, and theoretically construct a variable markup model to explore the mechanism. Further, this paper uses data on Chinese industrial firms from 2004-2013, combined with the newly developed imperfect instrumental variables method. It is found that digital economy development significantly reduces markup of firms, with a robust upper bound of -0.31%. The analysis of the mechanism reveals that the increase in competition among firms and the imperfect transfer of cost pressures by firms are important channels. The heterogeneity analysis shows that the negative impact of digital economy development on markup is larger for firms with characteristics such as less digitalization, tighter financing constraints, and weaker cost-saving capabilities. The study also finds that digital economy development reduces the dispersion of markup and significantly improves the efficiency of resource allocation. The findings of this paper have important implications for understanding the significance of digital economy and real economy integration, and how to further promote digital economy development effectively.
Prof. Charles Chen
Minnan Normal University, China
Speech Title: The fundamental of digital economy – Enterprises digitalization and intelligentization
Abstract: Digital economy, also known as intelligent economy, is the main economic form after agricultural economy and industrial economy, the essential feature of industry 4.0 or post-industrial economy. This new economic form takes data resources as the key element, modern information network as the main carrier, information and communication technology (ICT) integration and application as the important driving force to promote a more fair and efficient economic environment and economic activities. Although there will generate innovative organization model、business model、manufacture structure、ICT technology and different consumer behavior in this digital economy era, in this speech, we will focus on the introduction of ICT structure for enterprises digitalization and intelligentization, especially in the manufacture industry.
Prof. Satya Narayan Singh
HIPDET University, Department of Economics, India
Speech Title: Digital Economy and Future Perspective of Sustainable Development in Developing Countries
Abstract: In many encounters of complexity in clause of development ensuring sustainable development for the countries particularly developing and least developed countries is one of identical comprehensive phenomenal goals ahead. However, both development and destruction can’t be designed together for achieving a set targets of sustainable development goals. Development without destruction is an imaginary philosophical dialect that does not have any gravity in dynamics of development. In this context the digital economy previously known as the information economy is one an alternatively best technological frontier to fill up gap between development and destruction in other words the process of development can be accelerated without destruction while digitalizing the economy in contour of globalization and liberalization era. According to Digital Economy Report 2019 of UNCTAD, it is asserted that digital advances have already led to the creation of enormous wealth in record time, but this is highly concentrated in a small number of countries, companies and individuals. There is a need to examine the scope for additional value creation and capture in the digital economy by developing countries and explore an opportunities for developing countries to take an advantage of the data-driven economy for ensuing sustainable development come across. This paper provides valuable insights on causes and effects relationships in direction of threats and opportunities of capturing the digital economy, notably with regards to entrepreneurship, data, trade, competition, taxation, intellectual property and employment opportunities, monitoring and evaluation of environment and ecosystems, agriculture and rural development, health and basic amenities apart from policy recommendations to support policymakers at the national and international levels ensuring sustainable development in fast-evolving digital economy.
Assoc. Prof. Dr. Tsotne Zhghenti
Business and Technology University, Georgia
Speech Title: Trust Building in Digital Economy
Abstract: Digital economy had become an important part of the world economy starting from the late 20th century. However, digitalization process has never been more important as now thanks to rapid technological advances and growing innovations in business. Digital divide between developed and developing countries becomes the challenge more actual for developing economies. Digital trust is a key instrument that connecting individuals, business and institutions in the modern digital world. Therefore, studying digital trust is crucial for academic sector to understand digital economy. Digital trust concept is evolving, i.e., it is partially unexplored,especially in developing economies where statistical data or theoretical basis are not available for country level. Even as digital trust is a new concept, transition process from traditional trust to digital trust pays attention on trust deep foundations. Trust evolution processes mostly depend on factors that form and influence trust. In her book, Rachel Botsman reviews the“Trust Stack” model - the process of forming trust, which means that firstly we have to believe in the idea, then we trust the company or platform and finally we should have trust in individuals or users (Botsman, 2017). We can use mentioned model to analyze digital trust forming process in developing countries. According to trust forming stages (Trust Stack Model), presentation discuss three steps:
- H1: Digital technologies are accessed and used by people;
- H2: People are involved in digital business services; companies are offering digital solutions to individuals;
- H3: Digital trust to other users (product-service/providers) is formed.