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Business and Economics Mathematics
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Business and Economics Mathematics

A special issue of Mathematics (ISSN 2227-7390). This special issue belongs to the section "Financial Mathematics".

Deadline for manuscript submissions: closed (31 March 2022) | Viewed by 63165

Special Issue Editors

Dr. Octavian Dospinescu

E-Mail Website
Guest Editor
Department of Accounting, Business Information Systems and Statistics, Alexandru Ioan Cuza University, Iasi, Romania
Interests: business information technologies; e-commerce; fintechs; e-management; innovation; enterprise resource planning; mobile applications
Special Issues, Collections and Topics in MDPI journals
Prof. Dr. Juan Jose García-Machado

E-Mail Website
Guest Editor
Department of Financial Economics, Accounting and Operations Management, University of Huelva, Huelva, Spain
Interests: agricultural derivatives; banking; derivative financial markets; financial crisis; online trading; PLS-SEM in finance; real options; risk measurement; valuation of firms

Special Issue Information

Dear Colleagues,

We are pleased to announce this Special Issue of the journal Mathematics entitled "Business and Economics Mathematics". This initiative focuses on the current changes that are taking place in the economic, social, and political environments of human society as a whole. The challenges posed by these changes have generated new research topics in business and economics. We aim to include articles containing relevant research in the economic field, including those in the following areas:

  • Marketing mathematics;
  • Business models;
  • Management;
  • Business statistics;
  • Consumer behaviour;
  • Macroeconomic issues;
  • Investments;
  • Public finances;
  • Risk management;
  • Capital markets and stock exchanges;
  • International funds transfers and fintechs.

Prof. Dr.  Octavian Dospinescu
Prof. Dr. Juan Jose García-Machado
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Mathematics is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • economic models
  • consumer behavior
  • SEM (Structural Equation Modeling)
  • business models and correlations
  • data mining
  • management and econometric models

Published Papers (12 papers)

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Editorial

Jump to: Research

3 pages, 176 KiB  
Editorial
Business and Economics Mathematics
by Octavian Dospinescu
Mathematics 2022, 10(20), 3890; https://0-doi-org.brum.beds.ac.uk/10.3390/math10203890 - 20 Oct 2022
Viewed by 959
Abstract
Nowadays, the field of economics is a versatile one and of extraordinary importance for both practitioners and theorists [...] Full article
(This article belongs to the Special Issue Business and Economics Mathematics)

Research

Jump to: Editorial

22 pages, 5398 KiB  
Article
The Impact of COVID-19 on the Connectedness of Stock Index in ASEAN+3 Economies
by Mukhriz Izraf Azman Aziz, Norzalina Ahmad, Jin Zichu and Safwan Mohd Nor
Mathematics 2022, 10(9), 1417; https://0-doi-org.brum.beds.ac.uk/10.3390/math10091417 - 22 Apr 2022
Cited by 10 | Viewed by 1856
Abstract
This paper explores the impact of the COVID-19 pandemic on the connectedness of stock indexes in the group of developed and emerging economies known as the ASEAN+3. We derived our empirical findings from the Diebold and Yilmaz (DY12) and Baruník and Křehlík (BK18) [...] Read more.
This paper explores the impact of the COVID-19 pandemic on the connectedness of stock indexes in the group of developed and emerging economies known as the ASEAN+3. We derived our empirical findings from the Diebold and Yilmaz (DY12) and Baruník and Křehlík (BK18) spillover methods, using daily data from 10 May 2005 to 24 February 2021. We show that the COVID-19 pandemic has had a bigger impact on the return and volatilities of ASEAN+3 stock markets than previous economic turmoil, such as the 2008 global financial crisis and the 2009–2012 European debt crisis. Using a frequency domain methodology, we find evidence that return spillovers mostly occur in the short-term, while volatility connectedness is more pronounced in the long-term. The Singapore stock market primarily acts the as top transmitter in returns and volatilities, whereas Vietnam has become the top receiver of shocks in returns. We also demonstrate that it is possible to replicate the frequency-domain connectedness measures of BK18 with a DY12 methodology. Using a series decomposed with a wavelet-based approach, we find that the total spillover indices for short-, medium-, and long-term frequencies computed with the DY12 approach are comparable to the within connectedness indices of BK18. Our results have important policy implications for investors, regulators, and policy makers. Full article
(This article belongs to the Special Issue Business and Economics Mathematics)
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18 pages, 2820 KiB  
Article
Mathematical Interpretation of Global Competition between Payment Systems
by Xinyu Cai, Marko Milojevic, Denis Syromyatnikov, Anastasia Kurilova and Beata Ślusarczyk
Mathematics 2021, 9(17), 2070; https://0-doi-org.brum.beds.ac.uk/10.3390/math9172070 - 27 Aug 2021
Cited by 2 | Viewed by 3150
Abstract
The present study seeks to present a mathematical interpretation of the perception of new entrants to the global payments market on whether FinTech’s innovations promote competitiveness in the market. The study also quantitatively evaluates the competitive trends observed in the global payments market. [...] Read more.
The present study seeks to present a mathematical interpretation of the perception of new entrants to the global payments market on whether FinTech’s innovations promote competitiveness in the market. The study also quantitatively evaluates the competitive trends observed in the global payments market. The sampling frame consists of 504 respondents across 28 countries. The study is based on the analysis of the survey results using SPSS Statistics and Stata. The survey addressed four groups of factors influencing the competitiveness of the payment system (i.e., ‘Costs’, ‘Service Channels’, ‘Privacy and Security’, ‘Quality and Efficiency’). The respondents believe that FinTech innovations have a strong positive effect on the payment system’s competitiveness (M = 4.32). The results of the present study may be of interest to specialists and researchers who deal with the competitive dynamics of the global payments business, with payment innovations, and with convergence and transformation of the payments industry. Full article
(This article belongs to the Special Issue Business and Economics Mathematics)
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19 pages, 901 KiB  
Article
A Multiple Full Mediating Effect in a PLS Hierarchical Component Model: Application to the Collaborative Public Management
by Minerva Martínez Avila, Juan José García-Machado and Eréndira Fierro Moreno
Mathematics 2021, 9(16), 1910; https://0-doi-org.brum.beds.ac.uk/10.3390/math9161910 - 11 Aug 2021
Cited by 6 | Viewed by 3072
Abstract
The objective of this article was to determine the mediating effect of shared knowledge and organisational commitment in the relationship between organisational values and collaborative public management. Organisational values are also made up as a second-order construct consisting of other first order sub-dimensions [...] Read more.
The objective of this article was to determine the mediating effect of shared knowledge and organisational commitment in the relationship between organisational values and collaborative public management. Organisational values are also made up as a second-order construct consisting of other first order sub-dimensions such as authority, autonomy, conservatism, equality, harmony, and hierarchy. This research is based both on the Theory of Resources and Capacities and the theoretical perspective based on knowledge. The hypotheses proposed were supported with the use of structural equation models based on composites (PLS-SEM). The results show empirical evidence of a multiple fully mediating effect. The findings confirmed that organisational values do not have a significant direct positive impact on collaborative public management unless they are full mediated by shared knowledge and organisational commitment. In addition, this research framework is effective for improving public employees’ work efficiency and has practical implications for scholars, practitioners, and the authorities. Full article
(This article belongs to the Special Issue Business and Economics Mathematics)
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18 pages, 3777 KiB  
Article
Is Longevity Acceleration Sustainable? An Entropy-Based Trial of the Population of Spain vs. Japan
by Amancio Betzuen Zalbidegoitia and Amaia Jone Betzuen Álvarez
Mathematics 2021, 9(15), 1810; https://0-doi-org.brum.beds.ac.uk/10.3390/math9151810 - 30 Jul 2021
Cited by 1 | Viewed by 1594
Abstract
Longevity risk is a major concern for governments around the world as they have to address social benefits, whether in the form of pensions, healthcare, or caring for dependents and providing long-term care, and so forth, which directly impact countries’ budgets. This paper [...] Read more.
Longevity risk is a major concern for governments around the world as they have to address social benefits, whether in the form of pensions, healthcare, or caring for dependents and providing long-term care, and so forth, which directly impact countries’ budgets. This paper uses a single entropy index to measure this type of risk. This methodology is clearly different from the one traditionally used in the literature, which is nearly entirely based on measuring the evolution of mathematical life expectancy. The authors used the longest-living populations in the world, Japan and Spain, to create a database in order to analyse the virtue of the indicator. The aim was to establish whether the longevity of those populations is accelerating or decelerating, compared by sex, and whether that occurs at the same intensity at different stages of a person’s life in each case. If the indicator showed differences in intensity, it would be a benchmark for the insurance and financial industry, providing it with information to market different products. Full article
(This article belongs to the Special Issue Business and Economics Mathematics)
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17 pages, 1870 KiB  
Article
Changes in Consumers’ Purchase Patterns as a Consequence of the COVID-19 Pandemic
by Katarina Valaskova, Pavol Durana and Peter Adamko
Mathematics 2021, 9(15), 1788; https://0-doi-org.brum.beds.ac.uk/10.3390/math9151788 - 28 Jul 2021
Cited by 97 | Viewed by 30079
Abstract
The current COVID-19 pandemic has affected every aspect of consumer behavior—their expenses, investments, and financial reserves, as well as their financial and social wellbeing. As a consequence of different restrictions, consumers and their shopping patterns have changed significantly; thus, the factors that influence [...] Read more.
The current COVID-19 pandemic has affected every aspect of consumer behavior—their expenses, investments, and financial reserves, as well as their financial and social wellbeing. As a consequence of different restrictions, consumers and their shopping patterns have changed significantly; thus, the factors that influence new purchase patterns need to be identified to help traders, retailers, and marketers develop appropriate strategies to respond to crucial consumer changes in the market. A categorical analysis (Pearson’s chi-square test) and correspondence analysis (simple and multivariate) were applied to a sample of 425 Slovak respondents to reveal the most important factors impacting consumers’ financial situations, as well as the effects on the maintenance of new shopping habits established during the pandemic period. The results revealed that consumers’ income, age, and sector of occupation play important roles in the context of new shopping patterns. These findings are in agreement with other global studies, confirming both the worldwide impact of the pandemic on consumer behavior and the importance of national studies on consumer shopping behavior in order for state authorities, traders, marketers, and entrepreneurs to be able to take necessary measures. Full article
(This article belongs to the Special Issue Business and Economics Mathematics)
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28 pages, 510 KiB  
Article
Zero-Inflated Generalized Linear Mixed Models: A Better Way to Understand Data Relationships
by Luiz Paulo Fávero, Joseph F. Hair, Jr., Rafael de Freitas Souza, Matheus Albergaria and Talles V. Brugni
Mathematics 2021, 9(10), 1100; https://0-doi-org.brum.beds.ac.uk/10.3390/math9101100 - 13 May 2021
Cited by 14 | Viewed by 8346
Abstract
Our article explores an underused mathematical analytical methodology in the social sciences. In addition to describing the method and its advantages, we extend a previously reported application of mixed models in a well-known database about corruption in 149 countries. The dataset in the [...] Read more.
Our article explores an underused mathematical analytical methodology in the social sciences. In addition to describing the method and its advantages, we extend a previously reported application of mixed models in a well-known database about corruption in 149 countries. The dataset in the mentioned study included a reasonable amount of zeros (13.19%) in the outcome variable, which is typical of this type of research, as well as quite a bit of social sciences research. In our paper, present detailed guidelines regarding the estimation of models where the data for the outcome variable includes an excess number of zeros, and the dataset has a natural nested structure. We believe our research is not likely to reject the hypothesis favoring the adoption of mixed modeling and the inflation of zeros over the original simpler framework. Instead, our results demonstrate the importance of considering random effects at country levels and the zero-inflated nature of the outcome variable. Full article
(This article belongs to the Special Issue Business and Economics Mathematics)
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27 pages, 5390 KiB  
Article
Techniques to Improve B2B Data Governance Using FAIR Principles
by Cristina Georgiana Calancea and Lenuța Alboaie
Mathematics 2021, 9(9), 1059; https://0-doi-org.brum.beds.ac.uk/10.3390/math9091059 - 09 May 2021
Cited by 2 | Viewed by 2709
Abstract
Sharing data along the economic supply/demand chain represents a catalyst to improve the performance of a digitized business sector. In this context, designing automatic mechanisms for structured data exchange, that should also ensure the proper development of B2B processes in a regulated environment, [...] Read more.
Sharing data along the economic supply/demand chain represents a catalyst to improve the performance of a digitized business sector. In this context, designing automatic mechanisms for structured data exchange, that should also ensure the proper development of B2B processes in a regulated environment, becomes a necessity. Even though the data format used for sharing can be modeled using the open methodology, we propose the use of FAIR principles to additionally offer business entities a way to define commonly agreed upon supply, access and ownership procedures. As an approach to manage the FAIR modelled metadata, we propose a series of methodologies to follow. They were integrated in a data marketplace platform, which we developed to ensure they are properly applied. For its design, we modelled a decentralized architecture based on our own blockchain mechanisms. In our proposal, each business entity can host and structure its metadata in catalog, dataset and distribution assets. In order to offer businesses full control over the data supplied through our system, we designed and implemented a sharing mechanism based on access policies defined by the business entity directly in our data marketplace platform. In the proposed approach, metadata-based assets sharing can be done between two or multiple businesses, which will be able to manually access the data in the management interface and programmatically through an authorized data point. Business specific transactions proposed to modify the semantic model are validated using our own blockchain based technologies. As a result, security and integrity of the FAIR data in the collaboration process is ensured. From an architectural point of view, the lack of a central authority to manage the vehiculated data ensures businesses have full control of the terms and conditions under which their data is used. Full article
(This article belongs to the Special Issue Business and Economics Mathematics)
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12 pages, 1056 KiB  
Article
A Model for the Optimal Investment Strategy in the Context of Pandemic Regional Lockdown
by Antoine Tonnoir, Ioana Ciotir, Adrian-Liviu Scutariu and Octavian Dospinescu
Mathematics 2021, 9(9), 1058; https://0-doi-org.brum.beds.ac.uk/10.3390/math9091058 - 08 May 2021
Cited by 6 | Viewed by 2420
Abstract
The Covid-19 pandemic has generated major changes in society, most of them having a negative impact on the quality of life and income obtained by the population and businesses. The negative consequences have been highlighted in the decrease of the GPD level for [...] Read more.
The Covid-19 pandemic has generated major changes in society, most of them having a negative impact on the quality of life and income obtained by the population and businesses. The negative consequences have been highlighted in the decrease of the GPD level for regions, countries and even continents. Returning to pre-pandemic levels is a considerable effort for both economic and political decision-makers. This article deals with the construction of a mathematical model for economic aspects in the context of variable productivity in time. Through this mathematical model, we propose to maximize revenues in pandemic conditions, in order to limit the economic consequences of the lockdown. One advantage of the proposed model consists in the fact that it is based on units that can be regions, economic branches, economic units or fields of investment. Another strength of the model is determined by the fact that it offers the possibility to choose between two different investment strategies, based on the specific options of the decision makers: the consistent increase of the state revenues or the amelioration of the disparity phenomenon. Furthermore, our model extends previous approaches from the literature by adding some generalization options and the proposed model can be applied in lockdown cases and seasonal situations. Full article
(This article belongs to the Special Issue Business and Economics Mathematics)
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16 pages, 2357 KiB  
Article
Implementation of Stochastic Analysis in Corporate Decision-Making Models
by Jin-Biao Lu, Zhi-Jiang Liu, Dmitry Tulenty, Liudmila Tsvetkova and Sebastian Kot
Mathematics 2021, 9(9), 1041; https://0-doi-org.brum.beds.ac.uk/10.3390/math9091041 - 04 May 2021
Cited by 6 | Viewed by 2548
Abstract
The stochastic approach as a method for modeling factor systems of interrelationships of economic activity aspects allows minimizing managerial errors against the background of company growth and expansion of operating activities. The purpose of this study is to form a decision-making model to [...] Read more.
The stochastic approach as a method for modeling factor systems of interrelationships of economic activity aspects allows minimizing managerial errors against the background of company growth and expansion of operating activities. The purpose of this study is to form a decision-making model to ensure the financial competitiveness of enterprises in the context of stochastic analysis. This study demonstrates stochastic analysis implementation in companies of the 2nd and 3rd degrees of internationalization based on multiple regression and factorial analysis of variance. The practical basis of the study was Chinese and Russian mining enterprises that enter highly competitive markets and therefore should avoid mistakes in decision-making as much as possible. The model of financial competitiveness proposed in the article demonstrates the best ways to introduce stochastics in companies to optimize their overall productivity, regardless of the country of origin. In a practical sense, research on reducing managerial mistakes allows enterprises to have financial success even in the turbulent conditions of today’s global market, regardless of the company’s jurisdiction. Full article
(This article belongs to the Special Issue Business and Economics Mathematics)
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23 pages, 5750 KiB  
Article
Forgotten Motivational Factors of Boyacense Colombian Entrepreneurs: A Subjective Analysis of Second-Generation Incidences
by Fabio Blanco-Mesa, Ernesto Leon-Castro, Dario Bermudez-Mondragon and Mayra Castro-Amado
Mathematics 2021, 9(9), 973; https://0-doi-org.brum.beds.ac.uk/10.3390/math9090973 - 26 Apr 2021
Cited by 6 | Viewed by 2168
Abstract
The main aim of this article was, using subjective information, to analyze the forgotten factors that influence the motivation of Boyacenses to become entrepreneurs. The study was carried out with entrepreneurs enrolled in the Boyacá Region Brand Program (BRBP). For the treatment of [...] Read more.
The main aim of this article was, using subjective information, to analyze the forgotten factors that influence the motivation of Boyacenses to become entrepreneurs. The study was carried out with entrepreneurs enrolled in the Boyacá Region Brand Program (BRBP). For the treatment of the collected data, the method of the experts and the theory of forgotten effects were used to identify second-generation incidences involving motivational factors in Boyacense entrepreneurs. The research questions that guided the study were as follows: What are the forgotten effects among the motivational factors of entrepreneurship? What are the intermediate factors that generate the second-order effects? What are the economic, psychological, cultural, and environmental factors that have second-order effects among them? Among the main findings, it was possible to visualize second-degree relationships between economic, cultural, and psychological factors. Additionally, in the case of entrepreneurs from Boyacá, the primary motivation for most of them to develop their business idea was economic independence, while the least motivating was the improvement of social status. Likewise, the need for achievement was highlighted. Finally, the country’s economic situation was found to work against the development of entrepreneurship. Full article
(This article belongs to the Special Issue Business and Economics Mathematics)
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19 pages, 1917 KiB  
Article
Research on the Economic Development Threshold Effect of the Employment Density of the Shanghai Consumer Goods Industry in the Context of New Manufacturing, Based on the Experience Comparison with International Metropolis
by Lei Shen, Xi Zhang, Hongda Liu and Pinbo Yao
Mathematics 2021, 9(9), 969; https://0-doi-org.brum.beds.ac.uk/10.3390/math9090969 - 26 Apr 2021
Cited by 16 | Viewed by 2001
Abstract
With the rise of a new generation of technology and industrial changes, the service-oriented manufacturing industry has become the direction of future development. With the background of new manufacturing, this paper constructs an economic development threshold model of employment density of consumer goods [...] Read more.
With the rise of a new generation of technology and industrial changes, the service-oriented manufacturing industry has become the direction of future development. With the background of new manufacturing, this paper constructs an economic development threshold model of employment density of consumer goods industry based on data from Shanghai and Tokyo from 2007 to 2016, and empirically analyzes the impact of the employment density of the consumer goods industry on urban economic development under different population densities. At the same time, by comparing the experience of Tokyo, the development status and prospects of Shanghai’s consumer goods industry are explored. The study found that the threshold of Tokyo’s consumer goods industry is 0.608. When population density is lower than this threshold, the consumer goods industry continues to promote the economic development of Tokyo; however, when the population density is higher than this threshold, the consumer goods industry begins to inhibit the economic development of Tokyo. The Shanghai consumer goods industry threshold is 0.329. Under the threshold, most of the consumer goods industry contributions to the economy are negative, but above the threshold, they begin to show a positive trend. The inflection point of the effect curve of Tokyo’s consumer goods industry on economic development has appeared, but the inflection point of Shanghai’s consumer goods industry has not yet appeared. Compared with Tokyo, the economic vitality of Shanghai’s consumer goods industry has not yet been fully released. With the continued increase of population density in Shanghai, the growth potential of the consumer goods industry is huge, and it is expected to reshape the flourishing age of Shanghai’s light industry brand. Full article
(This article belongs to the Special Issue Business and Economics Mathematics)
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