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This study provides an empirical assessment of public servants’ integrity in Macao’s public sector, exploring how integrity is perceived, practiced, and promoted amid Macao’s unique administrative and socio-cultural context. Drawing on in-depth, semi-structured interviews with ten public servants from diverse departments and hierarchical levels, the research adopts a qualitative approach guided by the Theory of Public Service Motivation (PSM). The findings reveal that integrity fundamentally prioritizes public interest above personal gain, grounded in honesty, self-discipline, and ethical commitment. While organizational missions and formal codes offer guidance, individual values, professional ethics, and personal motivation are central to upholding integrity. Key enablers include mission-driven values, ethical leadership, supportive organizational culture, non-monetary incentives, and recognition. However, integrity is undermined by inconsistent ethics training, weak supervision, ineffective reporting mechanisms, and cultural factors such as close social networks and fear of retaliation. The effectiveness of mechanisms, such as internal regulations, anti-corruption agencies, and ethics training, varies across departments, often hindered by procedural gaps and societal norms. The study concludes that sustaining integrity in Macao’s public sector requires strengthening ethics education, enhancing leadership and culture, improving internal systems, and addressing systemic and societal risks. Limitations include the small, non-generalizable sample and focus on qualitative insights. Recommendations are targeted at policymakers, the supervisory institution, the Commission Against Corruption (CCAC), and institutional leaders for future reforms.

This dissertation investigates the effectiveness and shortcomings of employee incentive mechanisms at GF Advertising Company, with a specific focus on the motivation of staff. Amid rapid changes in the advertising and printing materials industry, employee satisfaction and retention have become increasingly critical. However, the company’s current incentive system—characterized by an overreliance on material rewards and lack of development opportunities—has struggled to meet employees’ evolving needs. To explore this issue, the study adopts a mixed-methods approach, combining a quantitative survey of 115 employees with qualitative interviews of 7 selected staff members. The research draws upon Maslow’s Hierarchy of Needs and Herzberg’s Two-Factor Theory to analyze employee motivation and satisfaction. The findings reveal key challenges in four areas: insufficient economic incentives, weak organizational environment support, underdeveloped career growth mechanisms, and ineffective work-related motivation. Based on the results, the dissertation proposes a multi-layered, localized incentive model that incorporates both intrinsic and extrinsic motivators. Recommendations include optimizing communication platforms, strengthening team culture, refining promotion pathways, and diversifying reward structures to better align with employee expectations. The study concludes that a strategic and human-centered incentive mechanism not only improves employee engagement but also enhances organizational performance. Future research could further expand the sample scope and explore long-term impacts of different incentive models across companies and regions.

This dissertation examines the customs procedures governing trade in Macao, a Special Administrative Region of China, focusing on their role in facilitating trade within the Greater Bay Area. Adopting a qualitative approach, the study conducts in-depth interviews with stakeholders, including local businesses, customs officials, and trade experts, to identify factors affecting the efficiency and transparency of customs processes, such as clearance, licensing, and declarations. The research is significant as it enriches the theoretical framework of trade facilitation in Macao, where literature is scarce, and provides practical insights for customs authorities and traders. Findings reveal bureaucratic complexities, technological gaps, and documentation burdens, particularly impacting small and medium enterprises. Three additional factors influencing trade efficiency—regional integration, stakeholder coordination, and policy alignment—are identified. The study recommends streamlined licensing, enhanced digital systems, and SME-focused training to foster sustainable trade development. These insights offer actionable guidance for policymakers and practitioners to strengthen Macao’s position as a regional trade hub.

This paper explores the entrepreneurial perception and challenges of African students from Portuguese-speaking countries (PSC) in Macau, adopting a qualitative research method and conducting in-depth interviews with ten students from this geographic area to understand their Perceptions and challenges towards the entrepreneurial field. This study is significant because it enriches the theoretical guidance framework. Moreover, it helps future researchers utilize valuable data for their research in the field with many samples. The insights obtained from this paper might inform policymakers and universities about the necessary framework to support international students, especially African students from Portuguese-speaking countries, in a way that can encourage them to pursue entrepreneurial opportunities. In-depth interviewing is the primary method for data collection. The thematic content analysis (TCA) An approach is utilized to analyze the data from interview transcripts. Existing research illustrated students from this geographic area's entrepreneurial perception and challenges, as well as their aspirations and intentions as planned after their study. From the point of view of the researcher's interview with his sources, the researcher discovered that there is no opportunity for them to pursue an entrepreneurial career in Macau, which means that, after their study, they will return to their motherland. III In conclusion, based on the findings, understanding the entrepreneurial perception and challenges Students from this geographic area can help to provide support from the local Government and Universities, based on their field of study in a way they can have the opportunity to explore practical experience in a working environment for their personal and professional development.

The Estée Lauder Companies (EL)is a global leader in prestige beauty. They build consumer-beloved brands that manufacture, market, and sell exemplary skin care, makeup, fragrance, and hair care products, and serve as a steward of luxury and prestige brands globally. Today Estée Lauder's skin care, makeup and fragrance products is sold in more than 150 countries worldwide. But sustaining its competitive advantage represents an everyday challenge, due to the fierce competition that characterizes the beauty and cosmetics industry worldwide. Therefore, the thesis analyzed the financial statements of Estée Lauder Companies for the past five years (2019-2023) and forecast the business performance for the next decade (2024-2033). After that, it will calculate the intrinsic value of Estée Lauder as of December 31, 2023, and compare it with the stock market price on that day. This comparative analysis is helpful for judging whether the market price of the company's stocks truly reflects its actual value. Another objective is to explore and analyze the internal and external factors influencing the company and its future strategic planning, thereby providing important information for the sensitivity analysis of stock prices. Through this analysis, the potential impact that these factors and strategies may have on the future price of stocks can be reflected, providing an important basis for investors' decision-making. 雅诗兰黛公司（EL）是全球高端美妆领域的领导者。他们打造深受消费者喜爱的品牌，生产、营销和销售卓越的护肤品、彩妆、香水和护发产品，并在全球范围内担任奢侈品和高端品牌的守护者。如今，雅诗兰黛的护肤品、彩妆和香水产品在全球 150 多个国家销售。 但要保持其竞争优势是一项日常挑战，因为全球美容和化妆品行业竞争激烈。因此，本文分析了雅诗兰黛公司过去五年（2019 - 2023 年）的财务报表，并预测了未来十年（2024 - 2033 年）的业务表现。之后，将计算截至 2023 年 12 月 31 日雅诗兰黛的内在价值，并将其与当天的股票市场价格进行比较。这种比较分析有助于判断该公司股票的市场价格是否真正反映了其实际价值。另一个目标是探索和分析影响公司及其未来战略规划的内部和外部因素，从而为股票价格的敏感性分析提供重要信息。通过这种分析，可以反映出这些因素和策略可能对股票未来价格产生的潜在影响，为投资者的决策提供重要依据。

This study investigates and analyzes the behavioral intentions of consumers in Guangdong region towards All-Electric Aircraft (AEA) within the theoretical framework of the Theory of Planned Behavior (TPB), and uses Structural Equation Modeling (SEM) and SmartPLS to analyze the collected data. According to the existing literature, TPB and SEM have not been used to evaluate the electric aviation market in Guangdong region. The purpose of this study is exploratory, adopting a quantitative research method. Structured questionnaires are distributed to approximately 100 consumers in Guangdong to explore their overall cognition of electric aircraft, the factors influencing such cognition, and their willingness to use electric aircraft. The study finds that consumers’ attitude, subjective norm, and environmental concern have a positive impact on their adoption of the new AEA technology, while perceived behavioral control and perceived risk are found to have no effect on consumers. The results of this study provide valuable insights for airlines, aircraft manufacturers, and policymakers. By understanding consumers’ concerns and preferences, airlines can formulate more effective marketing strategies to promote electric aircraft. Aircraft manufacturers can utilize these findings to improve the design and performance of electric aircraft and address consumers’ concerns. Policymakers can formulate relevant policies to support the development and adoption of electric aircraft and promote the sustainable development of the aviation industry.

This study focuses on the influence of online review quality on tourism intention, with destination image as a mediating variable, in the context of the rapid rise of internet content platforms like Red Book and Douyin. The platforms like Red Book and Douyin play an important role in shaping travel behavior, as potential travelers frequently rely on user-generated content (UGC) to find information about travel destinations, plan their trips, and form perceptions of destinations. Through a comprehensive review of existing literature and the application of structural equation modeling (SEM), the study reveals that the cognitive and affective image of destination are significantly influenced by the quality of online reviews, which in turn impacts overall destination image and tourism intention. The findings demonstrate that higher-quality online reviews — those that are timely, sufficient，helpful, and credible — not only enhance the cognitive understanding of destinations but also evoke stronger emotional connections, ultimately fostering a higher likelihood of travel intention. Moreover, the study highlights the mediating role of destination image during the process where online review quality influences tourism intention. These results offer critical insights for destination marketing organizations (DMOs) in conducting tourism marketing to attract tourists by strategically enhancing the quality and authenticity of online reviews. The study also identifies limitations in sample selection and mediating variables, providing directions for future research in the fields of online content, destination image, and tourism behavior.

"This study addresses the challenges of multidimensional nonlinearity and multifactorial influences in stock market prediction by proposing a dual-channel deep learning framework based on BERT+BiGRU+Attention (BBA), which integrates investor sentiment analysis with temporal trading data dynamics. Leveraging crawled data from platforms such as East Money Stock Bar, we analyze 30,000 investor comments on Tsingtao Brewery (600600) and corresponding trading records (2010- 2021). Key innovations include: A domain-specific financial sentiment lexicon enhanced by BERT for contextual text vectorization, coupled with BiGRU-based temporal feature extraction and attention-driven keyword focus.Test the rise and fall pages of stocks using stock reviews"

This paper focuses on the Macao supermarket industry as a research subject, employing a qualitative methodology that includes in-depth interviews with human resource managers and operational store managers to identify the factors influencing employee retention. The primary data collection method utilized is in-depth interviewing, complemented by thematic content analysis (TCA) to interpret the insights gathered from the interview transcripts. While existing literature has identified eight key factors affecting employee retention in the supermarket sector, this study uncovers three additional factors that significantly impact retention within the context of Macao's unique market environment. Supermarkets are vital to Macao’s economic development, with 26 distinct brands operating in 175 stores. However, these establishments face profitability challenges attributed to rising voluntary employee turnover. Grounded in Herzberg’s two-factor theory of motivation, this qualitative multiple-case study aims to explore the strategies employed by supermarket managers to mitigate voluntary employee turnover and enhance workforce stability. The findings will contribute to a deeper understanding of retention dynamics in the supermarket industry and provide actionable insights for improving employee engagement and satisfaction.

Amazon is a global leader in e-commerce and cloud computing that has continually proven that it can diversify its business model well beyond being just one of the world's largest online retailers. Study its financial results, strategic initiatives by SWOT Analysis, and access its market positioning in industry by using PESTEL Analysis and Porter’s Five Forces Analysis. In order to ascertain the intrinsic value and assess the future prospects of Amazon, the study then utilizes several financial models, Enterprise Discounted Cash Flow (EDCF), Adjusted Present Value (APV) and Discounted Economic Profit (DEP). The study presents Amazon is potentially overvalued (December 31, 2024).

Macao is a small city, and most businesses operating in Macao are small and medium-sized enterprises (SMEs). With personal data protection gaining increasing global attention, what impact does personal data protection law have on the operations of SMEs in Macao? What is the perception of the impact of the Personal Data Protection Law on the operation of Macao's SMEs? This thesis aims to make a corresponding analysis. The article examines Macao's current business environment and enterprise models, integrates data collected from SME surveys, and considers Macao's economic development trajectory before and after its return to China. It analyzes Macao's connections with Portuguese-speaking countries, the European Union, and the cities in the Guangdong-Hong Kong-Macao Greater Bay Area, which the Chinese government is actively developing. By studying the characteristics of personal data protection legal systems in various countries and regions and their influence on Macao, the paper provides recommendations for enhancing SMEs' awareness of personal data protection and leveraging personal data protection laws to improve business operations in Macao. 澳門是一個細小的城市，在澳門做生意的企業大多是中小企業，個人資料保護在全球日益受到重視，究竟個人資料保護法對澳門中小企營運又帶來甚麼影響 ? 澳門中小企營運過程中，對個人資料保護法影響認知有多少? 本篇論文將會作出相應分析，文章透過分析澳門現時具體營商環境及企業模式，結合透過中小企問卷調查搜集獲得之資料，以及澳門在回歸後，前後經濟發展歷程中與葡語系國家、歐盟、以及與現時中國政府大力發展之大灣區城市之聯系，分析各國家及地區的個人資料保護法律制度之特色以及對澳門之影響，最後就澳門中小企未來就加強中小企個人資料保護意識以及善用個人資料保護法律營商作出建議。

Management of people” and “enhancement of the system” are the focused aspects for improvement of the business operations in this thesis. A case study was carried out in the Facility Management department of a five-star hotel. A list of questionnaire was delivered to about 50% employees of the FM department for the purpose of identifying the awareness of the Organizational Culture. The result indicate that the “Work Process” and “Organization Climate” are the higher score elements than the “Leadership Style” and “Organization Value”. The results tell the management that people are reluctant to change the present work process and the leadership is not effective in the organization. The above issues represent the employees’ behavior and attitude which can affect the employees’ performance as well as the company’s operational efficiency. Suitable management techniques are applied to analyze the employees’ needs and group the people into passive and active attitude, then the appropriate motivation schemes are proposed aiming to improve the overall performance of different groups of employees. The latest technologies such as the Internet of Things (IoT) and 5G mobile communications are proposed for enhancement of the current FM systems aiming for the improvement on fast response, operational cost saving , carbon neutralization and comfort to customers. The proposed system enhancement also considers the minimal investment, so the system enhancement is mainly executed by software upgrade on the core system and replacement of the Smart Sensing devices. The hardware of core equipment can be re-used. AI technology is the future trend of operational improvement, it will be considered as the next step when AI become mature and standardized.

Caterpillar, one of the world's most recognised industrial brands, is a leading global manufacturer of construction and mining equipment, as well as diesel and natural gas engines and industrial gas turbines. Currently, Caterpillar operates in North America, Asia Pacific, EAME region and Latin America, with operations in North America accounting for approximately 47% of the company's net revenue in 2022. Caterpillar has been able to win customers' trust and achieve stable business growth through reliable products, advanced technology, user-friendly services and differentiated service solutions. Post-coronavirus, it can be seen that the industry in which Caterpillar operates is vulnerable to changes in the economic and social environment. In addition, the industry is becoming increasingly competitive, especially with the rise of emerging players, such as construction equipment manufacturers in China, who are entering the markets of developing countries with cost-effective products. In addition to that, such as the traditional machinery manufacturing companies in Europe and Japan, their products are not only highly intelligent, but also motorised equipment technology is quite reliable. It is a tough challenge to maintain a competitive edge. Understanding the impact of these changes on the industry and the company helps in assessing the intrinsic value of Caterpillar and its future positioning. Comparing the intrinsic value derived from the three valuation models to the company's market share price as of 31 December 2022 will provide valuable information to investors.

Ikea’s entry into the China market and how its become successful in the foreign country

With the rapid development of Internet technology and the acceleration of globalization, cross-border cybercrime has become a global challenge, and its complexity and severity are increasingly prominent. Cyberspace is unbounded, anonymous and real-time, which provides unprecedented convenience for criminals, enabling them to easily cross-national borders and commit a series of criminal acts that seriously endanger national security, social stability and citizens' rights and interests, including online fraud, online gambling, online money laundering and infringement of intellectual property rights. These crimes not only destroy the order of cyberspace, but also pose new challenges to the legal system and jurisdiction of the real world. As two closely linked economies, Macao and China enjoy the convenience brought by the Internet, but they are also deeply troubled by cross-border cybercrimes. Although the two places belong to the same sovereign country, there are significant differences in legal systems, judicial systems and law enforcement practice, which may lead to conflicts and differences in the jurisdiction, investigation, prosecution and trial of cases. These legal conflicts not only affect the fairness of cases, but also hinder the effective cooperation between Macao and China in combating cross-border cybercrimes, posing a serious threat to maintain social stability and protecting citizens' rights and interests in the two places. Therefore, it is not only of great theoretical significance, but also of far-reaching practical significance to study the criminal jurisdiction over cross-border cybercrimes between Macao and China. From a theoretical point of view, the criminal jurisdiction of cross-border cybercrime involves many disciplines such as constitutional law, criminal law, criminal procedure law, and also the application of the Basic Law of Macao, which is a complex research topic. With the continuous innovation of Internet technology, the applicability of the traditional criminal jurisdiction principle in cross-border cybercrimes is seriously challenged. How to re-examine and define the criminal jurisdiction of cross-border cybercrimes in the new era and how to coordinate the jurisdiction conflicts between different jurisdictions have become urgent problems in current legal research. From a practical point of view, cross-border cybercrime has seriously endangered the social stability and economic development of Macao and China. Criminals use the Internet to engage in cross-border gambling, cross-border fraud, spread network viruses and other criminal activities, which not only bring huge economic losses and psychological trauma to the victims, but also seriously undermine the social atmosphere and market order. Therefore, it is of great significance to strengthen the crackdown on cross-border cybercrimes and improve the criminal jurisdiction system of cross-border cybercrimes for maintaining the stability of the society and promoting healthy economic development in both places.

This dissertation investigates the key factors influencing citizens to adopt e-government services in Macao, focusing on the Macao One Account platform. Using the Unified Theory of Acceptance and Use of Technology (UTAUT) framework, the study examines factors such as Performance Expectancy, Effort Expectancy, Social Influence, and Facilitating Conditions, with additional factors including Trust and Perceived Risk. This study is essential to provide a guideline for adopting e-government services effectively, helping policymakers and government entities optimize digital platforms for improved service delivery and user engagement. The research employed a quantitative methodology. The survey data was collected through an online survey in Google Forms distributed to Macao residents who use the Macao One Account platform. The responses of the 126 respondents were analyzed using descriptive statistical methods to identify trends and relationships between the key constructs. The findings reflect that performance expectations, effort expectations, trust, and facilitating conditions are the most influential drivers, with social influence playing a more moderate role. Perceived risk is low, indicating minimal concerns about security or privacy. Usability is an important driver, as most respondents find the platform easy to learn and use. Additionally, the users’ attitudes to the e-government platform could be affected by their trust in the government; reducing risk and increasing confidence can improve the platform's reliability to users. This study shows the need to improve the e-government platform by focusing on users. It includes making it easier to use, building trust with strong data protection, and making it accessible to all citizens. These results give ideas for adopting e-government in Macao and offer simple steps for policymakers to create more inclusive digital services.

This study aims to conduct a comprehensive analysis of the dual effects of Macao's economic diversification policy, with the intention of exploring its role in fostering economic sustainability. By thoroughly examining Macao's economy, which has traditionally been heavily reliant on the gaming and tourism industries, the study uncovers the implementation effects of the economic diversification policy, the challenges it encounters, and its potential influence on the economy's future trajectory. The research utilizes a mixed-methodology approach, integrating extensive quantitative data analysis with qualitative interviews to ensure the comprehensiveness and systematic nature of the findings. The study's outcomes underscore the beneficial effects of Macao's economic diversification policy in stimulating the growth of new industries, bolstering economic resilience, and attracting foreign investment. However, the policy also faces challenges such as skill shortages, uneven resource distribution, and the impact on traditional economic pillar industries. The research indicates that despite certain progress, Macao's economic diversification process still needs to overcome various internal and external obstacles. In response to the research findings, this study proposes a series of targeted recommendations, including strengthening the connection between education and industry, optimizing resource allocation strategies, stimulating innovation and entrepreneurship, and promoting the collaborative development of traditional and emerging industries. These suggestions aim to assist the Macao government in effectively addressing current challenges and laying a solid foundation for the long-term development of Macao's economy.

This dissertation studies the regulatory framework of aviation reform in the Macau Special Administrative Region, focus on the balance between protecting local businesses and promoting market liberalization. The study explores how Macau, as a highly autonomous local administrative region in China with a relatively small economy, can effectively reform its aviation industry while safeguarding local interests in the face of open market competition. The importance of this study lies in its analysis of Macau's aviation sector reforms. As Macau seeks to diversify its economy and strengthen its position as a member of the Greater Bay Area initiative, the aviation industry presents both opportunities and challenges. This research contributes to the broader discussion of how small jurisdictions with special political status can participate in regional economic integration while maintaining their distinct advantages and protecting local interests. The research uses Doctrinal Legal Research and Comparative Legal Research methodologies, utilizing documentary analysis and comparative study methods. This research examines the legal framework of the aviation industry in Macau and the challenges it is currently facing. A comprehensive review of international aviation laws, bilateral air service agreements, and domestic regulations provides the foundation for analyze. The study also conducts a comparative analyze with Hong Kong's aviation framework, offering alternative regulatory approaches for a similar Special Administrative Region of China. Several interesting findings emerged from this research. First, the study identified a fundamental tension between Macau's stated open skies policy and its practical implementation, particularly in limitations of its current concession-based system and the underutilization of international traffic rights. Second, the analysis highlights how the current concession-based system has created a monopolistic market structure that hinders competition and innovation, exacerbated by outdated legislation. Third, the comparative analysis with Hong Kong highlights the importance of a clear legal framework and rules in balancing market liberalization with local industry protection, areas where Macau's current regulations show deficiencies. The concluding thought based on these findings is that Macau's aviation industry reform requires a careful approach that gradually introduces competitive elements while maintaining protections for local enterprises. The study suggests that successful reform will depend on establishing a comprehensive legal framework, implementing a flexible multi-tiered licensing system, enhancing regulatory oversight, and developing mechanisms for regional integration. These reforms must be tailored to Macau's unique circumstances, considering its small market size, political status, and strategic position within the Greater Bay Area.

As a special administrative region of China, Macau, despite its small size and limited resources, has been actively promoting low-carbon development to address the global climate change challenge. In recent years, Macao has provided important support for achieving the goal of carbon peaking and carbon neutrality by formulating a series of policies, such as energy management, promotion of green buildings and optimization of waste treatment. However, despite the clarity of the policy framework, its actual implementation and effectiveness still need to be systematically reviewed. This study uses a combination of qualitative and quantitative research methods, interviews and questionnaires to gain an in-depth understanding of the social acceptance and public participation of policies, and quantitative data to analyze the implementation effects of policies, with a view to revealing the advantages and disadvantages of low-carbon policies in Macao. The research results will systematically evaluate the effectiveness of low-carbon policies in Macao from multiple levels. On the one hand, quantitative data will provide a clear empirical basis for the progress of low-carbon policies; On the other hand, qualitative research will reveal key social and technological barriers to policy implementation, helping to understand the impact of public attitudes and behaviour on policy effectiveness. These results can not only provide reference for Macao's future low-carbon policy adjustment, but also provide experience for other similar cities to cope with similar challenges in low-carbon development. The importance of this study lies in its dual contribution to academia and practice. At the academic level, this study has enriched the theoretical research on low-carbon city development, especially the special challenges of carbon emission reduction in resource-limited cities. At the practical level, the results of this study can directly provide policy makers with specific suggestions for improving low-carbon policies, such as resource allocation, technology introduction and public awareness. Through these analyses, the study hopes to provide a practical roadmap for Macao to achieve its goal of carbon neutrality, as well as a valuable reference for the low-carbon development of similar cities around the world.

The quiet fashion trend is becoming one of the most common fashion trends among Gen Zs. Quiet normally means not making noise. Within the fashion industry it refers to style of luxury fashion that is understated, subtle, and free from obvious branding. The study that was reported in this paper is about the factors that affect consumer preference and purchase intention towards quiet luxury fashion products, with a focus on the Gen Z population. This research is important since it will help in outlining how different factors affect consumer purchase intention and preference towards various products within the fashion industry. Thus, enabling decision-makers and marketers to make effective decisions. The research method that was used was quantitative research with primary and secondary data. The primary data was collected through a survey questionnaire, which included 300 responses. The research found that social media influencers, brand collaboration, and status value are among the factors that have a significant relationship with consumer preference and purchase intention toward the quiet luxury brand among Gen Zs. Also, the research found that sustainability value does not have a direct impact on consumer preference and purchase intention for quiet luxury products. Hence, the research concluded that social media influencers, brand collaboration, and status value are part of the factors that have a significant impact on consumer preference and purchase intention.