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Starbucks Corporation (hereinafter “Starbucks” or “the Company”) is a worldwide coffee retailer, which operates over 33,000 stores located in over 83 countries nowadays. The purpose of the study is to estimate Starbucks’ intrinsic value as of December 31, 2021 and identify whether the Company was overvalued or undervalued. Several analyses give investors and shareholders an insight into how the Company may develop or identify the ability to generate positive returns from investing in Starbucks. This study is mainly separated into two aspects. The first part specifically discusses the Company overview, industry analysis, and economic outlook, which includes SWOT analysis, PESTEL analysis, Porter's five forces analysis, and value chain analysis to identify external and internal factors that may influence the Company. The second part focuses on financial analyzes, including both historical and forecasted financial statement. Three valuation models and a sensitive analysis are applied to understand the Company’s financial conditions and performance. Starbucks’ intrinsic value is derived from the three discounted cash flow models, indicating the market overvalued the Company’s stock price as of December 31, 2021. Finally, investors and shareholders can understand more about Starbucks’ capital structure, financial highlights, and intrinsic value, because this set of information is critical for existing investors and potential investors to make investment decisions

Examining consumer perceptions of scent marketing in Macau's retail setting is the goal of this study. The study focuses on the following two primary uses of scent marketing in retail environments: subliminal application and application as a component of branding strategy. Qualitative research methodology is used. A total of ten consumer interviews produced the data. The findings show that consumers are in favor of scent marketing's use in retail settings. The use of scent marketing as a tool for establishing brands is preferred, and consumers find this approach to scent marketing to be more acceptable than its subliminal application. Although consumers believe that other factors, such as price, are typically more significant than scent when making purchases, the use of subliminal scents was not always evaluated negatively. Unless occasionally when making an unplanned purchase, consumers do not think that a subliminal scent can significantly impact their purchasing behavior

This study aims to investigate gender-differentiated parenting and the factors that affect parent-adolescent relationships in Macao families. The study will address the following research questions: A) Does gender-differentiated parenting exist in Macao families? B) How does the academic level of parents relate to conflict resolution and acceptance levels? C) How does the length of time parents have lived together relate to conflict resolution and acceptance levels? D) How does the sibling position of adolescents relate to conflict resolution and acceptance levels? The study employed a quantitative research approach with a purposive and convenient sample of parents with children aged between 12 to 18 years old in Macao. The data were collected using the Parent-Child Interaction Questionnaire—Revised-Parent version (PACHIQ-R-P) through a questionnaire survey from May to August 2022. Out of the 172 completed questionnaires, seven were invalid, resulting in 165 valid questionnaires. The findings showed that gender differentiation in parenting was confirmed, with significant results showing that fathers had lower acceptance and conflict resolution levels when their child was a boy. Mothers showed similar acceptance and conflict resolution levels regardless of their child's gender. Furthermore, the study found that parents' acceptance of their children was influenced by their academic level, length of time living together, and the child's sibling position. This study is the first of its kind in Macao and could provide valuable insights for family and adolescent services in the region

This dissertation examines consumers' perceptions of food influencer content on Instagram and the relationship between exposure to food influencer reviews and consumers' intention to visit restaurants in Macau. A mixed-method research design was employed, combining quantitative survey data from 301 responses with qualitative insights from one focus group session involving six participants. The findings suggest that consumers find food influencer content entertaining and inspiring for dining out and exploring new culinary experiences, but they express concerns over its credibility. While food influencer content has a good exposure to consumers, it has a moderate impact on consumers’ restaurant choices, with various factors affecting the relationship. The results highlight the importance of perceived trustworthiness and enjoyability of food influencer content, the visual appeal of food and restaurant environments in photos, and personal relationships in shaping Macau consumers' visit intention to restaurants. The findings can serve as a basis for future research on credibility perceptions of food influencers, the enjoyability of influencer content, and the visual appeal of food and restaurant environments on Instagram. Practically, food influencers should prioritize transparency, authenticity, appealing photos, engaging captions, and leverage the role of personal relationships to increase their impact on consumers' restaurant choices

There are gaps in the research on gender differences and parental participation and the interaction between gender and parental participation in non-Western cultural contexts, particularly the Macao context. The current study aims to fill these gaps by examining gender and parental participation (i.e., father only, mother only, or both) differences and interactions in externalizing behaviour (oppositional defiant disorder and conduct disorder) during late childhood and adolescence (i.e., from age 10 to 18) in Macao. The methodological approach for the current study was a cross-sectional design with a quantitative methodology based on self-rated questionnaires. In certain items, we did discover gender differences. More boys than girls appeared to concur that they occasionally misbehave at school or start fires. And it appeared that girls were more likely than boys to concur that they occasionally exhibit unexpected mood or emotion changes and strong tempers. The children in the groups where only the mother or father participated tended to agree more than they prefer to hang out with older kids than kids their own age. This is in contrast to the group with more parental participation, which is represented by both parents submitting the questionnaire. Although none of the hypotheses proposed were supported, our outcomes implied culture and subculture may play important roles on youths’ externalizing behaviour

Climate change is a global issue but its impact can be felt locally. Macau SAR has been rapidly developing since the single shift towards a gaming industry-dominated economy, the overwhelming anthropogenic activities contributing to increasing pollution. Mangroves, which play an essential role as the blue carbon system with a high carbon sequestration rate could be a natural base solution to the pollution. This study aims to determine 1) the total organic Carbon (TOC) in the soil of Macau mangrove sites, 2) comparison with the methodology evaluating the organic Carbon, and 3) organic Carbon comparison between Macau and other regions. Soil sampling were processed under the Blue Carbon Initiative guideline, and the samples were divided into two parts for determining the TOC%, combustion method from Hong Kong, and methodology of ashing in our laboratory. The overall estimated TOC% of Macau mangrove sites was 1.29%. There are still a lot of potentials in Carbon storage and for climate change mitigation in Macau

The world we live in today is constantly changing, with new technologies and innovations being introduced all the time. Through the continuation and innovation of Chinese medicine theories, scientific research methods, and progress, Traditional Chinese Medicine continues to evolve and develop more innovative Modern Chinese Medicine. In this research, Molecular Chinese Medicine is studied as a new form of Chinese medicine, intended to provide a more pleasant and safe experience for consumers. Thus, the objective of this study is to identify both positive and negative perceptions that contribute to the adoption of innovative technologies and their related products. In order to reach this goal, a robust value-based theoretical model is used. To examine behavioural intentions to adopt Molecular Chinese Medicine (MCM) in Macau, this study combines quantitative and qualitative methods. Thus, a Value-based Acceptance Model (VAM) was used to determine Macau citizens' attitudes towards Molecular Chinese Medicine, including their perceptions of its usefulness, enjoyment, technicality, and perceived fee, in relation to the perceived value of the product, which may ultimately determine adoption intentions. Structural Equation Modeling (SEM) was used to process a sample of 194 Macau residents. The data analysis supported our model's explanatory and predictive power and helped describe the characteristics of the local population. Our results provide insight into the acceptance of innovative products that may be useful in designing more accurate strategies and facilitating the introduction of MCM to Macau and similar markets. It was found that low perceived fees demonstrated a relatively strong positive correlation with potential users' perceived value, whereas usefulness and enjoyment showed a medium-strong positive correlation. Also, a strong positive correlation was found between potential consumers' perception of the value of Molecular Chinese Medicine and their intention to adopt it

The present study aimed to analyse the differences in the internalising problems (anxiety, depression, somatic complaints), assessed by different informants (teachers and students), according to the level of academic achievement and school adaptation level in secondary students. Furthermore, we examine the gender difference in the level of internalising symptoms. Finally, we analyzed the differences between teacher-rated and adolescents' self-reported internalising symptoms. The Achenbach System of Empirically Based Assessment (ASEBA) was used for collecting informants’ data. The sample consisted of 882 secondary students (349 males and 473 females), while 50 came from public schools and 772 from private schools. No significant differences are found in internalising problems according to the level of academic achievement from both teachers’ and students’ perspectives. Generally, students who are well-adapted to the school context have the least symptoms of internalising problems compared to average and less-adapted groups from the teachers' perspective. In addition, from students’ perspectives, adolescent females present more internalising problems than males. Finally, teachers rated fewer internalising problems when compared to the students. In conclusion, the low level of awareness of teachers towards the internalising problems of students arouse attention. It is suggested that teachers should attend professional development programs in order to address to students’ internalising problems

We see security guards around in Macao in our daily lives and they are the ones who are responsible for protecting people’s safety and properties. Most security guards are non-local workers and might have different workplace stress levels. This study’s main aim is to investigate how job satisfaction and supervisory support are related to burnout among security guards in Macao. The research is carried out through a quantitative questionnaire to collect data and deliver it to the local and non-local security guards working in Macao. A total of 132 questionnaires were collected. It is expected that when security guards have higher job satisfaction and more supervisory support, they will experience less burnout. This intention enables the organization to make some changes to help the security guards from burnout due to job dissatisfaction and no supervisory support. The practical implication for reducing stress is introducing training courses such as mindfulness-based stress training programs. Future research will investigate other support like organizational support, peer support, and family and friends support on security guards

This paper analyses the valuation of McDonald's Corporation (MCD) as of December 31, 2021. An estimate of the Company's intrinsic value will also be provided. In addition, the internal company factors and external market conditions influencing company valuations and share prices will be discussed. The study has two main objectives: Determine the intrinsic value of McDonald's common stock as of December 31, 2021, and compare it to the actual stock market price on the same date. An assessment of the stock’s market price should represent the Company's true value on that day. Research can then verify whether it was overvalued or undervalued on that day. Identify internal company factors and external market environment factors that affect the Company's operations. This information will be used to gain a deeper understanding of the sensitivity analysis results. Possible scenarios will be discussed to reflect how these factors stimulate macroeconomic, industry, and business developments, as well as the strategic responses of industry players or competitors. McDonald's possible strategic responses to these scenarios will also be assessed. In this paper, a combination of qualitative and quantitative research methods will be employed. Data collection and analyses in Chapters 2 to 5 will use a qualitative approach, which includes data related to McDonald's, industry, and economic analyses. Chapters 5 to 8 will apply qualitative and quantitative data collection and analysis methods. Data will be collected from McDonald's annual report for the fiscal year from December 2017 to December 2021

"Parenting styles may have various effects on children’s development and educational outcomes, particularly a relationship with behavioral problems and academic achievement. This study examines the relationship of between parenting styles, behavioral problems and academic achievement. A cross-sectional and questionnaire-design (Parenting Style Scale (Saunders et al., 2013); Strength and Difficulties Questionnaire (Goodman & Goodman, 2009; Goodman, 1999; Goodman, 1997)) study was used with a sample total of 98 parents with the eldest child of the family aged between six to twelve. Results of the findings are mainly inconsistent with the majority of literature. Indulgent and authoritative parenting are the predominant parenting styles, yet parenting styles does not relate to academic achievement. On the other hand, the correlation between behavioral problems, specifically prosocial behaviors and academic achievement are moderate. Furthermore, there is no difference between the type of behavioral problems according to gender. In further studies, a larger sample size, teachers and students as informants, and the inclusion of the analysis of other factors that could be influencing parenting styles, behavioral problems and academic achievement are suggested to be considered. "

Buddhism was founded by Shakyamuni, and this religion has appeared in opposition to Brahmanism's caste system since its inception. Shakyamuni emphasized the important concept of “all beings are equal” from the very beginning. Buddhism spread from India to other regions, and was introduced to China through Central Asia. In China, Buddhism merged the two native cultures of Confucianism and Taoism and finally produced the socalled Chinese Buddhism. Buddhism and its value of equality were also developed and extended in China, and finally spread to Japan. After Buddhism was spread to Japan, it developed rapidly due to official support. Different Buddhist sects have established their own temples in Japan, and among them, Zen Buddhism has the greatest influence among all social classes in this country. Later, after years of development, Zen Buddhism penetrated into many aspects of Japanese culture, such as religion, aesthetics, garden design, samurai spirit and tea ceremony. With the spread of Zen Buddhism, the core value of Buddhism which is “Buddhist concept of equality” was also spread to Japan. The tea ceremony is precisely the place where this value of equality can be detected. This dissertation explains the many processes that reflect this value no matter inside or outside the tea room, and argues that the spirit of the tea ceremony is to pursue the value of equality

The aim of this study is to investigate the influence of leadership styles and organizational cultures to employee’s organizational commitment under the pandemic situation in Macao. The dependent variables comprise of the three dimensions of organizational commitment. Among those three, affective commitment and continuance commitment are considered to be analyzed in this study. The leadership styles concept and organizational cultures are applied as the independent variables. The objectives are achieved using quantitative research method with questionnaires in Likert scale scores. The two significance reveals that laissez-faire leadership style had a positive relationship with continuance organizational commitment (H4) and innovative culture had a positive correlation with continuance organization commitment (H6). Such outcomes were extended to a qualitative study with qualitative approach on discourse analysis to explore the potential factor and a leadership discourse analysis was initiated. While the findings on influence of leadership and culture on organizational commitment is not a major concern for Macao employees in the pandemic situation, the significance of specific leadership style and culture rationalizes the transformation and status of Macao employees’ views towards leadership and employers’ perspective on organizational culture. The data collected in this study may also provide valuable resources for future study and training programs for the coming batch of employees in the coming new phase of Macao in entering the 2nd round of gaming licensing. Create the right leadership and culture for the organization to bring back the passion of Macao employees

With the rapid urban development, Macao SAR has become one of regions with the with highest population density in the world, characterized by high traffic flow and dense building aggregations. Noise has become one of the major environmental problems in Macao. Besides having an impact on human health and wellbeing, noise pollution is known to impact ecological systems and the image of a place. Before proposing a plan to reduce noise pollution, it is necessary to have a general understanding of the current noise levels in Macao, how they have changed over time and the main noise pollution sources and environmental concerns. This dissertation relies on the publicly available data from DSPA (Macao Environmental Protection Bureau) monitoring stations concerning noise levels over the past decade. The main research goals were: 1) Characterize changes in noise levels from 2010 to 2021 during daytime, nighttime, and full-day from multiple noise stations located in Macao, Taipa, and Coloane Peninsula; and 2) associate changes in noise levels with potential factors such as location, number of residents/tourists, number of vehicles, among others. This work provides an important framework for future studies concerning noise monitoring and mitigation strategies

The insurance companies in Macau are potentially facing a crisis of high turnover rates, exacerbated by the limited studies conducted on the insurance industry to address this issue, as the gaming and travel industries are currently experiencing a significant demand for human resources due to economic recovery. In light of this, a study was conducted to better understand the attitudes of 105 currently employed insurance agents in Macau insurance companies, specifically their commitment and thoughts of staying or leaving their employers. The study examined several independent variables (distributive justice, perceived organizational support (POS), job satisfaction, and caring climate) in relation to insurance agents’ turnover intention and the role of affective commitment. The aim was to determine the association between these variables and turnover intentions among insurance agents. The snowballing methodology was employed to effectively engage with the insurance agents and gain insights into their perspectives. The results of the statistical analysis revealed positive correlations between all independent variables and affective commitment. Job satisfaction and POS were identified as strong positive predictors. Additionally, mediated regression analyses demonstrated that affective commitment significantly mediated the relationship between all independent variables and turnover intention. Finally, the study provides implications for insurance company management to address and reduce the high turnover rate. Furthermore, the importance of future orientation is further discussed

Government service mini-programs have become an integral component of eGovernment in the Greater Bay Area, and successful eGovernment is necessary for building a smart city. Service quality and citizens' trust play a vital role in urban integration and in-depth cooperation in the Bay Area. The ubiquitous nature of mini-programs based on WeChat and Alipay provides excellent flexibility in accessing government services. Technology advantages, mutual recognition of cross-border data, and online transactions bring value and benefits to citizens. However, the mechanism of mini-program adoption has not been elaborated. Homogenization, conflict of regulations, and policy effectiveness are issues of great concern. This study employed Self-Determination Theory and Motivation Theory, proposed an empirical model based on the extended SOR paradigm, and aimed to identify the critical factors determining the intention of government service mini-program adoption from the user’s perspective. Six hundred and nine valid samples were collected from Macau, Hong Kong, Guangzhou, and Shenzhen through online survey platforms. The findings suggested that service quality, trust in eGovernment, ubiquity, and social influence constituted the determinants of intention to adopt. Service quality and ubiquity were salient determinants, and a great extent of service quality and ubiquity could promote perceived value and intention. Citizens' trust in government service mini-programs was reasonable, where benevolence, integrity, and competence were crucial indicators of trust. Social influence amplified and transmitted risk perception while perceived risk significantly reduced intention. Perceived value positively associated with the four determinants and enhanced user intention; it acted as a mediator with high explanatory power in the model. Government support received positive ratings from citizens; it negatively regulated the relationship between intention and the determinants respectively, implying that excessive intervention from the government could lead to inhibition. Finally, we proposed relevant implications and suggestions for the GBA government agents and policymakers

Food waste has become an increasingly pressing issue worldwide, and Macau is no exception. A substantial portion of municipal solid waste in Macau is comprised of organic waste, with household food waste being a significant contributor. This can be attributed to households purchasing excessive food, preparing more than necessary, or not consuming items before they spoil, leading to detrimental resource and environmental impacts, particularly in the form of greenhouse gas emissions. It is crucial for Macau to develop a sustainable food waste management system that fosters prevention and responsible consumption and to develop food waste recycling habits among its residents. This study employed a two-pronged approach: a literature review of food waste source separation policies and practices in four neighboring regions to identify adaptable good practice examples for Macau, and a questionnaire survey completed by 143 local residents. The survey aimed to comprehend residents' behaviors and awareness regarding food waste prevention and treatment, evaluate their satisfaction with Macau's existing food waste recycling program, examine their resistance and motivation toward participating in the recycling program, and assess their attitudes toward implementing a polluter-pays-principle system in Macau. The survey aimed to provide insights into the current state of household food waste in Macau and inform future waste management policies and strategies of stakeholders. The survey findings highlight the need for enhanced public awareness and education on food waste prevention. Additionally, upgrading recycling facilities may encourage residents to participate more actively in food waste recycling. Ultimately, implementing suitable policies can help prevent food loss and waste and regulate food waste generation and elevate recycling rates. This study offers preliminary recommendations for policymakers or government entities as a orientation for future planning

Informal recycling plays a crucial role in municiapl solid waste management in many cities, particularly in the global South. This study examines the practices, challenges, and opportunities of informal recycling in Macau, a small city and Self Autonomous Region (S.A.R.) in China. Using qualitative research methods, including semi-structured interviews, this study explores the motivations and strategies of informal recyclers, the challenges they face, and the potential for collaboration with formal waste management systems. The findings of this study reveal that informal recycling in Macau is a complex and multifaceted reality and practice that involves a range of actors, from waste pickers to small-scale processors to exporters, all with their specific challenges. Informal recyclers are motivated by economic necessity, and they employ a variety of strategies to collect and process recyclable materials. However, they also face significant challenges, including high rental and transportation costs, lack of manpower, China’s waste import policies and ensuing restrictions, fluctuating global price rates of materials and the unstable income as serious consequence, accompanied by limited support from the local Government. This study also identifies opportunities for sustainable development of informal recycling in Macau, supported by the analysis of data collected via questionnaire survey regarding Macau citizens’ waste separation habits and their willingness to pay for resource separation and recovering process. The identified oppurtunities include establishing partnerships between informal and formal waste management actors, improving the infrastructure, and introducing environmental levy system and consistent policies and regulations. Overall, this study contributes to a better understanding of the role of informal recycling sector in waste management in Macau and provides insights into potential strategies for improving the sustainability of resource and waste management practices in the city