Fuzzy Logic and Its Uses in Finance: A Systematic Review Exploring Its Potential to Deal with Banking Crises

The major success of fuzzy logic in the field of remote control opened the door to its application in many other fields, including finance. However, there has not been an updated and comprehensive literature review on the uses of fuzzy logic in the financial field. For that reason, this study attempts to critically examine fuzzy logic as an effective, useful method to be applied to financial research and, particularly, to the management of banking crises. The data sources were Web of Science and Scopus, followed by an assessment of the records according to pre-established criteria and an arrangement of the information in two main axes: financial markets and corporate finance. A major finding of this analysis is that fuzzy logic has not yet been used to address banking crises or as an alternative to ensure the resolvability of banks while minimizing the impact on the real economy. Therefore, we consider this article relevant for supervisory and regulatory bodies, as well as for banks and academic researchers, since it opens the door to several new research axes on banking crisis analyses using artificial intelligence techniques

The Difficult Reception of Rigorous Descriptive Social Science in the Law

Mutual disdain is an effective border patrol at the demarcation lines between disciplines. Social scientists tend to react with disdain when they observe how their findings are routinely stripped of all the caveats, assumptions and careful limitations once they travel into law. Likewise, lawyers tend to react with disdain when they read all the laborious proofs and checks for what looks to them like a minuscule detail in a much larger picture. But mutual disdain comes at a high price. All cross-border intellectual trade is stifled. This paper explores the social science/law border from the legal side. The natural barriers turn out to be significant, but not insurmountable. Specifically the paper looks at the challenges of integrating rigorous descriptive social science into the application of the law in force by courts and administrative authorities. This is where the gap is most difficult to bridge. The main impediments are implicit value judgments inherent in models, conceptual languages and strictly controlled ways of generating empirical evidence; the difference between explanation, hypothesis testing and prediction, on the one hand, and decision-making, on the other; the ensuing difference between theoretical and practical reasoning, and the judicial tradition of engaging in holistic thinking; last but not least, the strife of the legal system for autonomy, in order to maintain its viability. If a legal academic assumes the position of an outside observer, she may entirely ignore all these concerns and simply follow the methodological standards of descriptive social science. This is, for instance, what most of law and economics does. The legal academic may, instead, choose to contribute to the making of new law. She will then find it advisable to partly ignore the strictures of rigorous methodology in order to be open to more aspects of the regulatory issue. But it is not difficult, at least, to follow the standards of the social sciences for analysing the core problem. The integration is most difficult if an academic does doctrinal work. But it is precisely here where the division of intellectual labour between legal practice and legal academia is most important. Academics who themselves are versatile in the respective social science translate the decisive insights into suggestions for a better reading of statutory provisions or case law.law and economics, law and statistics, explanation vs. decision-making, practical reasoning, psychology of judicial decision-making

A Review of the "Digital Turn" in the New Literacy Studies

Digital communication has transformed literacy practices and assumed great importance in the functioning of workplace, recreational, and community contexts. This article reviews a decade of empirical work of the New Literacy Studies, identifying the shift toward research of digital literacy applications. The article engages with the central theoretical, methodological, and pragmatic challenges in the tradition of New Literacy Studies, while highlighting the distinctive trends in the digital strand. It identifies common patterns across new literacy practices through cross-comparisons of ethnographic research in digital media environments. It examines ways in which this research is taking into account power and pedagogy in normative contexts of literacy learning using the new media. Recommendations are given to strengthen the links between New Literacy Studies research and literacy curriculum, assessment, and accountability in the 21st century

Corruption Shock in Mexico: fsQCA Analysis of Entrepreneurial Intention in University Students

[EN] Entrepreneurship is the basis of the production network, and thus a key to territorial development. In this line, entrepreneurial intention has been pointed out as an indicator of latent entrepreneurship. In this article, the entrepreneurial intention of university students is studied from a configurational approach, allowing the study of the combined effect of corruption perception, corruption normalization, gender, university career area, and family entrepreneurial background to explain high levels of entrepreneurial intention. The model was tested with the fsQCA methodology according to two samples of students grouped according to their household income (medium and high level: N = 180; low level: N = 200). Stress tests were run to confirm the robustness of the results. This study highlights the negative impact produced by corruption among university students¿ entrepreneurial intention. Furthermore, the importance of family entrepreneurial background for specific archetypes like female, STEM, and low household income students is pointed out, as well as the importance of implementing education programs for entrepreneurship in higher education, and more specifically in STEM areas. Policies focused on facilitating the access to financial resources for female students and low household income students, and specific programs to foster female entrepreneurship, are also recommended.Castello-Sirvent, F.; Pinazo-Dallenbach, P. (2021). Corruption Shock in Mexico: fsQCA Analysis of Entrepreneurial Intention in University Students. Mathematics. 9(14):1-31. https://doi.org/10.3390/math9141702S13191

A Fuzzy-Set Qualitative Comparative Analysis of Publications on the Fuzzy Sets Theory

[EN] The publication opportunities in science require knowing the existing gaps in the academic debate. In recent decades, scholars specializing in fuzzy theory and applied methodologies have experienced an unprecedented evolution of the field. The Sustainable Development Goals (SDGs) have shaped the way socio-technical transitions use fuzzy methodologies to solve environmental problems. This study conducts a systematic literature review of articles published in the Journal Citations Report on these specific fields. The Web of Science (Core Collection) was used and a database was assembled (N = 1956) that allowed the evaluation of the evolution of the research agenda and detecting high-impact publication opportunities. A model of analysis of successful strategies in academic influence is proposed. The model is tested with a configurational methodology through fuzzy-set Qualitative Comparative Analysis (fsQCA). The conditions used are: number of authors, underlying interest of the researchers, standardized citations per year, age of the articles and link of the research with sustainability. The results are solid and inform five paths that ensure the success of academic publications in high-impact journals. The robustness of the model allows its extrapolation to other fields of research. The contribution of this article allows knowledge of the academic conversation and its research opportunities. In addition, it clarifies the different paths that guarantee high impact research articles. This article offers important recommendations for academics and journal editors, allowing them to guide and advise academic production in the scholarly debate of the future.This research was funded by ESIC Business and Marketing School under grant number 1-V-2021 and is part of the SEDDeS Research Group (Society, Digital Economy and Sustainable Development).Castello-Sirvent, F. (2022). A Fuzzy-Set Qualitative Comparative Analysis of Publications on the Fuzzy Sets Theory. Mathematics. 10(8):1-23. https://doi.org/10.3390/math1008132212310

Fuzzy Sets in Business Management, Finance, and Economics

This book collects fifteen papers published in s Special Issue of Mathematics titled “Fuzzy Sets in Business Management, Finance, and Economics”, which was published in 2021. These paper cover a wide range of different tools from Fuzzy Set Theory and applications in many areas of Business Management and other connected fields. Specifically, this book contains applications of such instruments as, among others, Fuzzy Set Qualitative Comparative Analysis, Neuro-Fuzzy Methods, the Forgotten Effects Algorithm, Expertons Theory, Fuzzy Markov Chains, Fuzzy Arithmetic, Decision Making with OWA Operators and Pythagorean Aggregation Operators, Fuzzy Pattern Recognition, and Intuitionistic Fuzzy Sets. The papers in this book tackle a wide variety of problems in areas such as strategic management, sustainable decisions by firms and public organisms, tourism management, accounting and auditing, macroeconomic modelling, the evaluation of public organizations and universities, and actuarial modelling. We hope that this book will be useful not only for business managers, public decision-makers, and researchers in the specific fields of business management, finance, and economics but also in the broader areas of soft mathematics in social sciences. Practitioners will find methods and ideas that could be fruitful in current management issues. Scholars will find novel developments that may inspire further applications in the social sciences

"General Conclusions: From Crisis to A Global Political Economy of Freedom"

In this chapter I sum up the basic problems for a new theory of 21st century financial crises in light of the Asian and other subsequent crises. My conclusion is that there are indeed deep structural causes at work in the global markets that affect the political economy of countries and regions. Methodologically, new concepts, models and theories are constructed, at ;least partially, to conduct further meaningful empirical work leading to relevant policy conclusions. This book belongs to the beginning of intellectual efforts in this direction. Political economic analyses at the country level, CGE modeling within a new theoretical framework, and neural network approach to learning in a bounded rationality framework point to a role for reforms at the state, firm and regional level. A new type of institutional analysis called the 'extended panda's thumb approach' leads to the recommendation that path dependent hybrid structures need to be constructed at the local, national, regional and global level to lead to a new global financial architecture for the prevention--- and if prevention fails--- management of financial crises.

Computational Modeling in Applied Problems: collected papers on econometrics, operations research, game theory and simulation

Computational models pervade all branches of the exact sciences and have in recent times also started to prove to be of immense utility in some of the traditionally \u27soft\u27 sciences like ecology, sociology and politics. This volume is a collection of a few cuttingedge research papers on the application of variety of computational models and tools in the analysis, interpretation and solution of vexing real-world problems and issues in economics, management, ecology and global politics by some prolific researchers in the field