Econophysics

A special issue of Economies (ISSN 2227-7099).

Deadline for manuscript submissions: closed (15 June 2023) | Viewed by 3502

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Guest Editor
Center for Advanced Studies in Management and Economics (CEFAGE), Department of Management, University of Évora, Largo dos Colegiais, 2, 7004- 516 Évora, Portugal
Interests: econophysics; data analysis; nonlinear dependence; maximum entropy estimation; non-linear time series; financial markets behaviour
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Special Issue Information

Dear Colleagues,

Econophysics was, from the beginning, the application of principles of physics to the study of economic and financial markets, assuming that the economic world behaves like a group of electrons or a group of molecules that interact with each other. Its growth was gradual, often unrecognized by the financial world. At the moment, Econophysics is side by side with Finance, with Economics in an attempt to explain economic phenomena.

Using new tools of statistical physics and chaotic systems, Econophysics may be the basis for tearing up some perplexing economics and reducing them to a few elegant general principles with the help of mathematics borrowed from the study of disordered materials.

With this special issue, it is intended, through a transdisciplinary approach, the understanding of economics and finance through different approaches and topics, namely: market efficiency, power laws, agent-based models, complex network, among others.

Dr. Andreia Dionísio
Guest Editor

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Keywords

  • econophysics
  • nonlinear dynamics
  • complex systems
  • agent-based models
  • transdisciplinary

Published Papers (2 papers)

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Research

18 pages, 2456 KiB  
Article
Islamic vs. Conventional Equity Markets: A Multifractal Cross-Correlation Analysis with Economic Policy Uncertainty
by Faheem Aslam, Paulo Ferreira, Haider Ali, Arifa and Márcia Oliveira
Economies 2023, 11(1), 16; https://doi.org/10.3390/economies11010016 - 06 Jan 2023
Cited by 4 | Viewed by 2651
Abstract
There is ample evidence that Islamic stock markets perform differently from conventional stock markets, particularly when economic policy uncertainty (EPU) or any other uncertainty such as geopolitical uncertainty is present. Considering this context, this paper examines the US EPU’s cross-correlation with both conventional [...] Read more.
There is ample evidence that Islamic stock markets perform differently from conventional stock markets, particularly when economic policy uncertainty (EPU) or any other uncertainty such as geopolitical uncertainty is present. Considering this context, this paper examines the US EPU’s cross-correlation with both conventional and Islamic stock markets from the perspective of multifractality. Daily stock market prices of five main countries are considered: US, Thailand, Indonesia, Pakistan, and India. Using the multifractal detrended cross-correlation analysis (MF-DCCA), we validate the existence of long-range cross-correlation between US EPU and all the stock markets considered, demonstrating that all pairs of US EPU have strong power law and multifractal characteristics. Furthermore, all pairs display varying levels of multifractal strength, with the US EPU and US conventional stock market exhibiting the strongest multifractal patterns. Additionally, a cross-correlation between US EPU and the different stock markets is found to be persistent. The results of this study are pertinent to the various market participants in both conventional and Islamic markets, particularly investors, who may be able to draw useful conclusions from them for purposes such as portfolio diversification. Full article
(This article belongs to the Special Issue Econophysics)
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16 pages, 585 KiB  
Article
The Power of Compensation System (CS) on Employee Satisfaction (ES): The Mediating Role of Employee Motivation (EM)
by Nurul Mohammad Zayed, Md. Mamunur Rashid, Saad Darwish, Md. Faisal-E-Alam, Vitalii Nitsenko and K. M. Anwarul Islam
Economies 2022, 10(11), 290; https://doi.org/10.3390/economies10110290 - 18 Nov 2022
Cited by 10 | Viewed by 13085
Abstract
The compensation system, employee motivation, and employee satisfaction have received much attention from academics for many years. Existing research, however, does not yet detail the mediation effect of employee motivation on the relationship between the entire compensation system and employee satisfaction. The study [...] Read more.
The compensation system, employee motivation, and employee satisfaction have received much attention from academics for many years. Existing research, however, does not yet detail the mediation effect of employee motivation on the relationship between the entire compensation system and employee satisfaction. The study explores the influence of the compensation structure on employee satisfaction using employee motivation as mediation. This research embraced a quantitative design, positivism paradigm, deductive approach, and explanatory research. Cross-sectional data from 100 employees were drawn with a random sampling technique using a self-administered survey questionnaire. First, in sequence of analysis, descriptive statistics were conducted. After that, a reliability test was used to test internal consistency. Finally, a correlation test, direct effect, indirect effect, and total effect were used to test the hypotheses at the 0.05 level while analyzing the data. The findings show that the compensation system has a favorable impact on employee satisfaction by partially mediating motivation. Concurrently, this study establishes awareness intending to revise a robust compensation strategy so that employee morale, engagement will increase and turnover will reduce. The study outcomes will assist policymakers in improving the situation of the existing workforce in insurance companies and other financial companies in Bangladesh. Full article
(This article belongs to the Special Issue Econophysics)
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