Conclusion and Recommendation References
255 It is hoped that with the development of the Internet finance, it can bring an inverting effect
which accelerates the reform of the financial industry in China. No one should ignore the importance of the hardware requirements under the big data epoch.
Substantial investments in information infrastructure development, big data analytic and database management, cloud computing capacity and related software development are expected.
Secure element is the heart of the new ecosystem. Third party payment companies should prove that they have spent sufficient amount of resources for the maximum protection of consumers
and they have to process transactions in line with industry standards. The risk of leaking and misuse of customer information is forcing service providers to alter the way they handle
transactions. However, it seems that such provisions and technology is not well in place in China, nor widely an accepted industry standards
[10]
. From the regulatory point of view, it is expected the Central Bank should align the development
of various third payment platforms by formulating respective industry standard and to encourage a health competition among different stakeholders. Regulators should strengthen the
requirements for e-commerce companies which extend their operation towards the financial sector and further enhance investor protection for transactions executed over the Internet. On the
other hand, part of the reform should include the remove of the existing oligopoly market structure in the banking sector and the promotion on financial innovation so as to meet the global
challenge in the new century.
References
[1] Zou, Z.H. 2014.
New Reform, New Open, New Bonus: China Economic Analysis 2013-2014.
Shanghai: Trust Wisdom Press. [2] Anderson, C. 2008.
The Long Tail: Why the Future of Business is Selling Less of More.
New York: Hyperion. [3] Economides, N. 2001. The impact of the Internet on financial markets.
Journal of Financial Transformation
, 11, 8-13. [4] [5] Evans, G. 2013. Internet of things.
Disruptive Technology
. HSBC Global Research. [6] 2011
–2012 China E-Commerce Report, iResearch Consulting Group. [7] [8] China Internet Financial Innovation Mode Report 2013, iResearch Consulting Group.
[9] Jingu, T. 2014. Internet finance growing rapidly in China.
lakyara
, vol. 189. [10]
Banks, Alibaba spar over Internet finance services
. Retrieved April 30, 2014, from http:www.china.org.cnbusiness2014-0408content_32028586.htm
256
ACMASS-5924 A Study of Industry Environmental Accounting Disclosure associated with
cost and benefits ─ A Case Study of Japanese Company
Chen Nai Hua
Southern Taiwan University of Science and Technology, Taiwan ma1n0103stust.edu.tw
Lin Yi Hua
Accounting Information Department in Southern Taiwan University of Science and Technology, Taiwan
a974gtlmail.stust.edu.tw
Abstract
Within the 1970s, due to the environmental accounting began getting focus throughout the energy crisis. Recently, environmental accounting research has become an attractive area.
Several studies have suggested the benefit of facilitative in disclosing company environmental accounting information. The data of this study is collected from Hitachi annual report and
Hitachi group corporate social responsibility report over the period 2009-2013. The case study analyzes whether the investment in environmental protection can reduce GHG emissions, waste
processing and energy conservation etc. This study mainly explores the relationship between carbon emission and financial investment in Hitachi Company according to the environmental
disclosures. Furthermore, this study also observes the indicator of the efficiency of environmental load reduction and environmental economic effects. The results showed that
Hitachi invests environmental protection does not definitely get positive efficiency. However, Hitachi still concerned environmental protection issue, for example, Hitachi enhances energy
efficiency of their products and reduces CO
2
emissions in energy productions. In conclusion, Hitachi has long-term plans for environment protection, in order to reach the goal that they
increase the ratio of eco-products which enhance energy efficiency of their products. Although the study has limitation, it presents some results of cost-benefit analysis of environmental
investment through environmental accounting data that could strength the contribution of environmental accounting report.
Keywords: Environmental Accounting, Corporate Social Responsibility, Cost-Benefit Analysis