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The "innovation-driven" development approach plays a crucial role in transforming and developing current China's national economy. Many innovation-driven mergers and acquisitions (M&As) emerge in the M&As activities of firms, and the acquiring firm's business strategy of conducting innovation-driven M&As has drawn significant attention. To study the impact of business strategy on innovation-driven M&As, this paper adopts the probit model to conduct logistic regression analysis on the 223 M&As data samples, exploring which business strategy is inclined to perform innovation-driven M&As. The results show that prospective firms are more likely to conduct innovation-driven M&As. Besides, the firms that conduct prospective business strategies are more likely to have a higher innovation level than firms operating defensive business strategies. The innovation level plays the role of a mediator variable in the model of business strategies influencing innovation-driven M&As. This paper analyzes the innovation-driven motivation from the perspective of business strategy, enriching the research of M&A and offering a method to predict the possibility of innovation-driven M&A by measuring business strategy. [ABSTRACT FROM AUTHOR]

Customer churn will cause the value flowing from customers to enterprises to decrease. If customer churn continues to occur, the enterprise will gradually lose its competitive advantage. When the growth of new customers cannot meet the needs of enterprise development, the enterprise will fall into a survival dilemma. Focusing on the customer churn prediction model, this paper takes the telecom industry in China as the research object, establishes a customer churn prediction model by using a logistic regression algorithm based on the big data of high-value customer operation in the telecom industry, effectively identifies the potential churned customers, and then puts forward targeted win-back strategies according to the empirical research results. This paper analyzes the trends and causes of customer churn through data mining algorithms and gives the answers to such questions as how the customer churn occurs, the influencing factors of customer churn, and how enterprises win back churned customers. The results of this paper can better serve the practice of customer relationship management in the telecom industry and provide a reference for the telecom industry to identify high-risk churned customers in advance, enhance customer loyalty and viscosity, maintain "high-value" customers, and continue to provide customers with "value" and reduce the cost of maintaining customers. [ABSTRACT FROM AUTHOR]

Housing market occupies a large part of the wealth of the whole society in most countries, and real estate tax plays an important role for the government to maintain sustainable development for the economy. As consumption being a major issue nowadays, in this paper, we want to find out (1) whether real estate taxes affect the house price in China and whether the affects vary among different tax types? (2) whether there exists wealth effect in China housing market? That is, whether the change in house wealth (price) affects the consumption? (3) whether and how do real estate taxes affect wealth effect? We set up the empirical model by using the GMM method on panel data from 2002 to 2016 to explore the relations among real estate tax, housing price, and wealth effect. We considered the influence of four different types of real estate tax on the housing price and found the results are mixed. Besides, there is a significantly negative wealth effect on China housing market. Finally, house price plays a mediator role in the effect of the real estate tax on the consumption. [ABSTRACT FROM AUTHOR]

Promoting the innovative development of cities in the metropolitan area holds great significance for China's implementation of the "innovation-driven development" strategy. According to symbiosis theory, this paper constructed a city-based Lotka-Volterra symbiosis model and innovation-level index system. We used the Shanghai metropolitan area as a sample for empirical analysis to explore the evolution of the comprehensive development level of urban innovation under different symbiotic relationships. The research results showed that under a reciprocal relationship, the innovative development of core city and node cities was higher than the actual level; under a mutual inhibition symbiosis or parasitic symbiotic relationship, the innovative development of core city and node cities was lower than the actual level; and under an independent symbiotic relationship, the innovative development of the core city was higher than the actual level, while that of the node cities was lower than the actual level. [ABSTRACT FROM AUTHOR]

Promoting the innovative development of cities in the metropolitan area holds great significance for China's implementation of the "innovation-driven development" strategy. According to symbiosis theory, this paper constructed a city-based Lotka-Volterra symbiosis model and innovation-level index system. We used the Shanghai metropolitan area as a sample for empirical analysis to explore the evolution of the comprehensive development level of urban innovation under different symbiotic relationships. The research results showed that under a reciprocal relationship, the innovative development of core city and node cities was higher than the actual level; under a mutual inhibition symbiosis or parasitic symbiotic relationship, the innovative development of core city and node cities was lower than the actual level; and under an independent symbiotic relationship, the innovative development of the core city was higher than the actual level, while that of the node cities was lower than the actual level. [ABSTRACT FROM AUTHOR]