Applications of Fuzzy Set Theory and Decision-Making in Business, Finance, and Engineering Using Empirical Mathematical Models

A special issue of Mathematics (ISSN 2227-7390). This special issue belongs to the section "Fuzzy Sets, Systems and Decision Making".

Deadline for manuscript submissions: 28 February 2025 | Viewed by 710

Special Issue Editors


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Guest Editor
Department of Business Management, Universitat Politècnica de València (UPV), 46022 Valencia, Spain
Interests: financial mathematics; fuzzy set theory; fsQCA; decision-making; ESG strategies; crisis management; entrepreneurship; public policy

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Guest Editor
Administration Department, Universidad Católica de la Santísima Concepción, AV. Alonso de Ribera 2850, Concepción, Chile
Interests: fuzzy logic; aggregation operators; modeling
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Special Issue Information

Dear Colleagues,

Fuzzy set theory and decision-making have witnessed significant advancements in recent years, with profound implications across various domains, notably in business, finance, and engineering. This Special Issue aims to present high-quality research articles highlighting the latest developments and applications of fuzzy set theory and decision-making based on empirical mathematical models in these sectors.

Fuzzy set theory provides a robust framework for dealing with the uncertainty and imprecision inherent in real-world decision-making scenarios. In business and finance, fuzzy models have been instrumental in enhancing risk management practices, optimizing investment strategies, and improving financial forecasting. For instance, fuzzy logic can be applied to develop sophisticated models for assessing credit risk, managing portfolio risks, and evaluating the performance of financial instruments under uncertain market conditions.

In the realm of engineering, fuzzy set theory aids in the design and optimization of complex systems, ensuring resilience and efficiency. Its applications include the management of engineering projects, the optimization of supply chain logistics, and the enhancement of decision support systems. Fuzzy models contribute to crisis management and business resilience by providing flexible and adaptive strategies that can respond to dynamic and unpredictable environments.

We invite contributions to this Special Issue that explore the theoretical advancement of fuzzy set theory and demonstrate its practical applications. Topics of interest include, but are not limited to:

  • Risk management in business and finance;
  • Crisis management and business resilience;
  • Optimization of investment strategies;
  • Financial forecasting and market analyses;
  • The evaluation of economic shocks and recessions and their impact on different stakeholders;
  • Engineering design and computer-aided engineering;
  • The internet of things and internet of beings;
  • Intelligent and safe transport;
  • Applications of artificial intelligence models;
  • Supply chain logistics and decision support systems;
  • The circular economy and ESG strategies;
  • Social networks and the economic development of emerging economies.

This Special Issue seeks to bridge the gap between theoretical research and practical application, fostering a deeper understanding of how fuzzy logic and decision-making models can solve complex problems in business, finance, fintech, and engineering. We encourage researchers and practitioners to submit their innovative work, which will provide insights into these evolving fields and contribute to their advancement.

We look forward to receiving your contributions and the ensuing discussions that will shape the future directions of fuzzy set theory and its applications.

Dr. Fernando Castello-Sirvent
Dr. Ernesto León-Castro
Guest Editors

Manuscript Submission Information

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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

  • multi-criteria decision-making (MCDM)
  • fuzzy analytic hierarchy process (fuzzy-AHP)
  • fuzzy control
  • fuzzy neural systems
  • fuzzy optimization techniques
  • risk management in business and finance
  • fuzzy set qualitative comparative analysis (fsQCA)
  • financial forecasting and market analyses
  • crisis management and business resilience
  • engineering project management
  • circular economy and supply chain management

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Published Papers (1 paper)

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Research

22 pages, 2307 KiB  
Article
A Fuzzy-Set Qualitative Comparative Analysis for Understanding the Interactive Effects of Good Governance Practices and CEO Profiles on ESG Performance
by Nieves Remo-Diez, Cristina Mendaña-Cuervo and Mar Arenas-Parra
Mathematics 2024, 12(17), 2726; https://doi.org/10.3390/math12172726 - 31 Aug 2024
Viewed by 498
Abstract
The impact of corporate governance mechanisms has been examined directly and independently, considering that such characteristics compete to explain environmental, social, and governance (ESG) performance. However, the nexus may be more complex than that suggested by most scholars, and more research is needed. [...] Read more.
The impact of corporate governance mechanisms has been examined directly and independently, considering that such characteristics compete to explain environmental, social, and governance (ESG) performance. However, the nexus may be more complex than that suggested by most scholars, and more research is needed. This study applied a fuzzy-set qualitative comparative analysis to a sample of Spanish-listed companies in 2018–2020 to explore how good governance practices interact with CEO profiles to promote corporate sustainability practices. Our analysis discovered the importance of establishing sustainability committees and identified five pathways shaping governance practice bundles. Specifically, listed companies with a high code of good governance (GGC) compliance and a sustainability committee improve high ESG performance globally and for each ESG dimension. Furthermore, the effect is more relevant than the effect of the CEO profile, requiring either CEO duality (pathway 1) or extended CEO tenure (pathway 2). Concurrently, findings indicate three CEO profile configurations for GGC-neutral firms, providing companies with more flexibility in CEO selection. Two suggest that younger CEOs with longer tenure tend to be more motivated to engage in the G and S pillars (pathways 3 and 5). The third indicates that CEOs of older age and early tenure improve the E pillar (pathway 4). Full article
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