Submit to Mathematics Review for Mathematics Propose a Special Issue

Journal Browser

► Journal Browser

Mathematical and Statistical Modeling of Socio-Economic Behavior

Print Special Issue Flyer
Special Issue Editors
Special Issue Information
Keywords
Published Papers

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

Deadline for manuscript submissions: closed (30 November 2023) | Viewed by 21215

Share This Special Issue

Special Issue Editor

Prof. Dr. Leone Leonida

E-Mail Website
Guest Editor

King's Business School, King's College London, London WC2R 2LS, UK
Interests: finance; financial analysis; innovation; corporate finance
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

This Special Issue aims to present a critical analysis and survey of the research activity and perspectives stemming from actual and potential interactions between hard sciences, such as mathematics, statistics, and physics, and quantitative social sciences, such as economics, finance, business, as well as education. We plan to present scientific articles focusing on specific issues related to the modeling of socio-economic systems and behavior, with the goal of pushing forward further developments towards general mathematical structures that can capture the complex features of general living and socio-economic systems, as well as capturing how knowledge disseminates through social interactions.

Through this Special Issue, we aim to offer a critical overview of a variety of mathematical and statistical approaches, namely, population dynamics, the game theory, evolutive games, mean field games, statistical dynamics, and the kinetic theory, and hope to discuss the advantages and drawbacks of different methodological approaches and tools.

Prof. Dr. Leone Leonida
Guest Editor

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

mathematical and statistical approach to economics and finance
interaction between statistics and mathematics in modeling social science
interdisciplinary methodologies

Published Papers (11 papers)

Download All Papers

Research

Jump to: Review

10 pages, 214 KiB

Open AccessArticle

Competition and Regulation: The Case of the UK Banking Industry

by Eleonora Muzzupappa

Mathematics 2024, 12(8), 1126; https://doi.org/10.3390/math12081126 - 9 Apr 2024

Viewed by 555

Abstract

This study examines the impact of the Basel Accords on competition within the UK banking sector, considering variations based on bank size. The Basel Accords, designed to enhance financial stability, introduce provisions that may affect competition dynamics. Empirical analysis reveals divergent outcomes: large banks tend towards monopolization, while other banks shift towards a more competitive environment. Large banks benefit from regulatory barriers and technological advancements, while other banks face challenges from increased compliance costs. These findings highlight the complex relationship between regulation and competition in banking, emphasizing the need for balanced regulations that promote stability while fostering healthy competition. Full article

(This article belongs to the Special Issue Mathematical and Statistical Modeling of Socio-Economic Behavior)

17 pages, 1005 KiB

Open AccessArticle

Modeling Partners’ Behavior in Long-Lasting B2B Supply Chain Relationships

by Carlos Ferro-Soto, Carmen Padín, Carmen Otero-Neira and Göran Svensson

Mathematics 2024, 12(3), 399; https://doi.org/10.3390/math12030399 - 26 Jan 2024

Viewed by 771

Abstract

Companies have strengthened their long-term inter-organizational partnerships throughout the supply chain to neutralize competitive pressures and risks in uncertain environments. On this basis, this research aims to propose and test a model of partners’ behavior aimed at the maintenance of long-term collaboration. By using confirmatory factor analysis, structural equation modeling, and rival model testing, the theoretical model proposed attempts to identify, from a seller’s perspective, the critical variables of partners’ behavior. It also seeks to understand the effect of satisfaction between trust and commitment (as antecedents associated with relationship quality) and sales formalization, sales opportunism, and sales-specific assets (as postcendents linked to relationship efficiency). Our findings verify the nomological framework and demonstrate that the partnership quality variables affect relationship efficiency, through sales satisfaction. However, the results of our research cannot confirm the relationship between satisfaction and specific assets. This research is relevant as it deals with inter-organizational partnerships from a seller-oriented approach, and it is based on a combination of Relationship Marketing Theory and Transaction Cost Theory to demonstrate that the inter-organizational partnership quality variables exert a direct effect on the partnership efficiency variables. Full article

(This article belongs to the Special Issue Mathematical and Statistical Modeling of Socio-Economic Behavior)

► Show Figures

Figure 1

17 pages, 1942 KiB

Open AccessArticle

Visualizing Convergence Dynamics across Regions and States: h-Convergence

by Leone Leonida

Mathematics 2024, 12(2), 256; https://doi.org/10.3390/math12020256 - 12 Jan 2024

Viewed by 500

Abstract

Researchers interested in studying whether convergence dynamics are in place among regions within the same country have adopted both statistical tools and empirical frameworks developed when studying convergence across different economies. We show that this approach is risky, because when an analysis is conducted at the regional level, the absolute and club convergence processes are more likely to co-exist than in the case of world economies. We propose an empirical approach where the two hypotheses are not taken as competing. Our procedure uncovers periods of convergence and periods of divergence for the three samples we studied: Italy observed at both the regional and provincial levels; EU regions; and world economies. We find a process of absolute convergence for Italian regions from 1951 to 1999, and that their convergence process ends in 1971 after a period which we define as clustering convergence. We also find a process of convergence across European regions from 1977 to 1993; that ends in 1985 in favor of a process of clustering and divergence. Finally, our procedure uncovers a process of absolute convergence from 1964 to 1975 and divergence from 1975 to 1999 in the case of world economies. Full article

(This article belongs to the Special Issue Mathematical and Statistical Modeling of Socio-Economic Behavior)

► Show Figures

Figure 1

16 pages, 816 KiB

Open AccessArticle

Banks’ Leverage Evolution: The Case of Commercial Banks

by Michele Piffer

Mathematics 2023, 11(13), 2860; https://doi.org/10.3390/math11132860 - 26 Jun 2023

Viewed by 996

Abstract

This paper used a panel dataset on the post-Basel-I period to compare the evolution of leverage ratios between commercial and investment banks before the 2007 financial crisis. The comparison showed that the quality of the capital base of commercial banks has been deteriorating since well before the 2007 crisis at a much faster pace than that of investment banks. This paper explains why traditional measures of leverage cannot display this phenomenon and proposes the ratio of the book value of assets over tangible common equity as a better measure. Full article

(This article belongs to the Special Issue Mathematical and Statistical Modeling of Socio-Economic Behavior)

► Show Figures

Figure 1

19 pages, 745 KiB

Open AccessArticle

Capital Structure and Corporate Performance: An Empirical Analysis from Central Europe

by Jaroslav Mazanec

Mathematics 2023, 11(9), 2095; https://doi.org/10.3390/math11092095 - 28 Apr 2023

Cited by 5 | Viewed by 2810

Abstract

The capital structure and its indicators play a significant role in corporate finance. The aim is to estimate business performance using selected indicators describing primarily the capital structure, asset structure, or liquidity of transport companies in Central Europe. The total sample consists of almost 4000 small and medium-sized enterprises in the transport sector. This data is collected from Amadeus Bureau van Dijk. The results show that six out of ten variables are statistically significant predictors affecting business performance; two out of the six indicators are categorical variables, such as the company size classified into small and medium enterprises and the country divided into the Czech Republic, Hungary, Poland, or Slovakia. We find that Hungarian medium-sized enterprises show higher profitability than other enterprises, assuming other factors are unchanged. Finally, the results demonstrate that a high debt ratio and a high share of non-current assets in total assets have a negative impact on corporate performance in contrast to the current ratio and the share of cash and cash equivalents in total assets. In other words, liquidity and cash and its equivalents have a significant role in increasing business performance. These findings are specific because, generally, high liquidity does not positively impact performance. Full article

(This article belongs to the Special Issue Mathematical and Statistical Modeling of Socio-Economic Behavior)

► Show Figures

Figure 1

13 pages, 391 KiB

Open AccessArticle

Credit Market Freedom and Corporate Decisions

by Alfonsina Iona, Andrea Calef and Ifigenia Georgiou

Mathematics 2023, 11(7), 1670; https://doi.org/10.3390/math11071670 - 30 Mar 2023

Viewed by 1131

Abstract

In this paper, we investigate whether and to what extent credit market freedom affects a firm’s target level of investment, cash holdings, and leverage. To do so, we generalize the standard empirical models, commonly used in the finance literature to estimate those targets, in order to incorporate credit market freedom into the set of regressors. We estimate three augmented models on a large and heterogeneous sample of North American nonfinancial firms over the period 2000–2019. Our empirical results suggest that greater credit market freedom is associated with a healthier corporate capital structure, higher financial flexibility, and a friendlier investment environment. Our paper contributes to both economic freedom and finance literatures by investigating an unexplored issue in economics and corporate finance research. In addition, it informs policymakers that promoting financial reforms that increase credit market freedom can boost a country’s economic growth. Full article

(This article belongs to the Special Issue Mathematical and Statistical Modeling of Socio-Economic Behavior)

15 pages, 758 KiB

Open AccessArticle

Modeling Negotiating Abilities in the Construction Sector: A Proposed Mathematical Model Using the Confirmatory Factor Analysis Method

by Mohamed Algezawy, Alaa M. S. Azazz, Magdy E. A. Tork and Ibrahim A. Elshaer

Mathematics 2023, 11(4), 933; https://doi.org/10.3390/math11040933 - 12 Feb 2023

Viewed by 1228

Abstract

This study aims to develop a mathematical model for evaluating the objective abilities needed for negotiation and to provide a tool that companies can use to select a negotiation team. The model was constructed using a Likert pentagonal scale, where numbers from 5 to 1 represented the level of agreement or disagreement, and seven objective abilities were considered, including analytical ability, economic knowledge, legal knowledge, linguistic ability, psychological understanding, normative understanding, and general knowledge. The model was tested using a structured interview (sixteen interviews) with experts and specialists in the construction industry as a case study and then validated by quantitative data analysis method using first-order confirmatory factor analysis (CFA) with a sample of consultants (220 responses) from companies and offices related to the construction sector. The study found that the model is valid for use in the construction industry and can be useful for selecting negotiators. The developed model can be used, adapted, and modified according to the needs of different negotiation situations. This research is the first of its kind to develop a mathematical model for evaluating negotiating abilities and can be used as a model for similar research studies. Full article

(This article belongs to the Special Issue Mathematical and Statistical Modeling of Socio-Economic Behavior)

► Show Figures

Figure 1

17 pages, 918 KiB

Open AccessArticle

Green Human Resources and Innovative Performance in Small- and Medium-Sized Tourism Enterprises: A Mediation Model Using PLS-SEM Data Analysis

by Ibrahim A. Elshaer, Alaa M. S. Azazz and Sameh Fayyad

Mathematics 2023, 11(3), 711; https://doi.org/10.3390/math11030711 - 31 Jan 2023

Cited by 11 | Viewed by 3631

Abstract

Small- and medium-sized enterprises (SMEs), like large corporations, confront new issues related to business sustainability, which necessitates playing a part in environmental protection and enhancing environment-based human resources management strategies in order to remain in business. Green human resources management practices (GHRMPs) have been found to positively impact innovative performance. However, the mechanisms by which GHRMPs influence innovation are not well understood. This study aimed to examine the mediating role of individual green values and job satisfaction in the relationship between GHRMPs and innovative performance. Using a sample of 605 small- and medium-sized (SMEs) hotels and travel agents, structural equation modeling (PLS-SEM) was conducted using SmartPLS program v4 to analyze the obtained data. The study found that GHRMPs were positively related to both individual green values and job satisfaction, and in turn, individual green values and job satisfaction were positively related to innovative performance. The results of this study suggest that individual green values and job satisfaction play a significant mediating role in the relationship between GHRMPs and innovative performance. Practical and theoretical implications were elaborated on and discussed. Full article

(This article belongs to the Special Issue Mathematical and Statistical Modeling of Socio-Economic Behavior)

► Show Figures

Figure 1

18 pages, 870 KiB

Open AccessArticle

When Less Is More: Understanding the Adoption of a Minimalist Lifestyle Using the Theory of Planned Behavior

by Elena Druică, Rodica Ianole-Călin and Andreea-Ionela Puiu

Mathematics 2023, 11(3), 696; https://doi.org/10.3390/math11030696 - 30 Jan 2023

Cited by 5 | Viewed by 6112

Abstract

Minimalism is a promising approach that supports consumers’ shift towards sustainable behaviors, with the perks of increasing emotional well-being. To understand which socio-psychological factors and intrinsic values determine the adoption of a minimalist lifestyle, we employ an extended framework of the theory of planned behavior to investigate the drivers behind the adoption intention. We test, through a partial least squares path modelling analysis, a structural model that depicts: (i) the influences of value orientations (altruistic, bioshperic, and egoistic) on attitudes; and (ii) the influence of attitudes, subjective norms, and perceived behavioral control on intention. The results indicate positive effects for all examined relationships, with effect sizes highlighting that attitudes and altruistic values should be prioritized in practical interventions that support a sustainable behavior. Surprisingly, we find a positive effect also for egoistic values, suggestive of the need for future cross-cultural research on minimalism and sustainability in Central and Eastern Europe. Full article

(This article belongs to the Special Issue Mathematical and Statistical Modeling of Socio-Economic Behavior)

► Show Figures

Figure 1

32 pages, 428 KiB

Open AccessArticle

Insecure Property Rights and Conflicts: How to Solve Them?

by Dario Maimone Ansaldo Patti, Pietro Navarra and Giuseppe Sobbrio

Mathematics 2023, 11(1), 126; https://doi.org/10.3390/math11010126 - 27 Dec 2022

Viewed by 1249

Abstract

According to the leading literature, the valid enforcement of property rights is a key ingredient for economic development. However, their enforcement can be problematic in international relations, which can be a valid approximation of an anarchic or state of nature environment. In such a context, we do not have a third party that may sanction any illegal behaviour, since the existing international organizations may lack the necessary power to force countries to behave in a specific way. A large variety of papers have attempted to provide a self-enforcing solution to a conflict among players by defining a bargaining range, which may prevent the emergence of a war. Hence, players renounce the fight and leave peacefully, enforcing de facto property rights. In contrast, we propose a model in which contestants decide to solve their dispute by forming a union. The latter can be interpreted in a broad sense, also encompassing the possibility that they form a new political entity. We highlight the welfare implications of that solution and define the non-empty set of parameters, which support such a decision in the long run. Intuitively, from a dual perspective, the model also discloses the circumstances that may lead players to deviate from the union path and split. Therefore, our paper contributes to the literature about the formation and breakdown of countries, although our primary concern is to present a model with an innovative solution to conflicts. Moreover, our work stresses the importance of the enforcement of property rights to guarantee the peaceful development of relations among countries. Full article

(This article belongs to the Special Issue Mathematical and Statistical Modeling of Socio-Economic Behavior)

Review

Jump to: Research

22 pages, 1926 KiB

Open AccessReview

What Have We Not Learned from the Convergence Debate?

by Leone Leonida

Mathematics 2023, 11(9), 2119; https://doi.org/10.3390/math11092119 - 29 Apr 2023

Cited by 1 | Viewed by 1113

Abstract

We argue that the alternative hypotheses about cross-country convergence dynamics, namely the Conditional Convergence Hypothesis, Absolute Convergence Hypothesis, and Club Convergence hypothesis, build upon different modelling choices and answer different empirical questions. Hence, results favoring one hypothesis are not necessarily evidence against the other hypotheses. We apply several modelling approaches to a sample of world economies to support our argument, and present empirical evidence that yields controversial conclusions if the hypotheses about convergence are taken as competing. However, the controversy disappears as we note that there are neither theoretical nor empirical reasons to take evidence in favor of the Absolute Convergence Hypothesis as necessarily being against the Club Convergence Hypothesis, and vice versa. We present results for the world economies where the two processes co-exist. We conclude by arguing that when analysis is conducted at the regional level, the two processes are more likely to co-exist because regions share the same institutions, culture, natural resources, and other fundamental causes of growth. Consequently, a test for convergence that studies whether clusters converge or diverge once eventually emerged in the distribution of incomes is still needed. Finally, we argue that to study convergence dynamics, it is necessary to model relationships between economies. Full article

(This article belongs to the Special Issue Mathematical and Statistical Modeling of Socio-Economic Behavior)

► Show Figures