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

Research on Early-Warning Method and its Application of Complex System of Circular Economy for Oil and Gas Exploitation

AbstractIt is a very important link to determine the reference in the warning of circular economy development, because it's the key to ensure the accuracy of warning result. To establish reference not only have to consider the convenience of data calculation, but also have to consider patterns of economic exploitation complied with the principle of circular economy when choosing criterion-referenced indexes. Only in this way can we ensure the warning results as accurate as possible, give timely warning to the exploitation methods which can’t meet the circular economy and guide the formulation of regulatory policies.In this paper, on the basis of operational early-warning Indexes system of complex system of circular economy for oil and gas exploitation, early-warning method with fuzzy ISODATA cluster analysis has been established. Furthmore, decision analysis of warning outcome has been analyzed, which is combined with practice of LN oil field of T Company. The author believes that the fuzzy ISODATA cluster analysis based early warning system and decision analysis would be practicability

Training of Crisis Mappers and Map Production from Multi-sensor Data: Vernazza Case Study (Cinque Terre National Park, Italy)

This aim of paper is to presents the development of a multidisciplinary project carried out by the cooperation between Politecnico di Torino and ITHACA (Information Technology for Humanitarian Assistance, Cooperation and Action). The goal of the project was the training in geospatial data acquiring and processing for students attending Architecture and Engineering Courses, in order to start up a team of "volunteer mappers". Indeed, the project is aimed to document the environmental and built heritage subject to disaster; the purpose is to improve the capabilities of the actors involved in the activities connected in geospatial data collection, integration and sharing. The proposed area for testing the training activities is the Cinque Terre National Park, registered in the World Heritage List since 1997. The area was affected by flood on the 25th of October 2011. According to other international experiences, the group is expected to be active after emergencies in order to upgrade maps, using data acquired by typical geomatic methods and techniques such as terrestrial and aerial Lidar, close-range and aerial photogrammetry, topographic and GNSS instruments etc.; or by non conventional systems and instruments such us UAV, mobile mapping etc. The ultimate goal is to implement a WebGIS platform to share all the data collected with local authorities and the Civil Protectio

A fuzzy-QFD approach for the enhancement of work equipment safety: a case study in the agriculture sector

The paper proposes a design for safety methodology based on the use of the Quality Function Deployment (QFD) method, focusing on the need to identify and analyse risks related to a working task in an effective manner, i.e. considering the specific work activities related to such a task. To reduce the drawbacks of subjectivity while augmenting the consistency of judgements, the QFD was augmented by both the Delphi method and the fuzzy logic approach. To verify such an approach, it was implemented through a case study in the agricultural sector. While the proposed approach needs to be validated through further studies in different contexts, its positive results in performing hazard analysis and risk assessment in a comprehensive and thorough manner can contribute practically to the scientific knowledge on the application of QFD in design for safety activities

Risk factors affecting the ability for earned value management to accurately assess the performance of infrastructure projects in Australia

Purpose – The purpose of this paper is to investigate a set of risk-related factors influencing the earned value management (EVM) concept as an assessment technique in evaluating the progress of modern sustainable infrastructure construction projects. Design/methodology/approach – A qualitative research approach has been adopted for identifying risk-related factors influencing EVM concept from a literature review and through interviewing industry personnel, followed by an inductive process to form sets of key factors and their measuring items. Findings – EVM is a common method for assessing project performance. A weakness of this approach is that EVM assessment in its current form does not measure the impact of a number of project performance factors that result from the complexity of modern infrastructure construction projects, and thus does not accurately assess their impact in this performance. This paper discusses and explains a range of potential risk factors to evaluating project performance such as sustainability, stakeholder requirements, communication, procurement strategy, weather, experience of staff, site condition, design issues, financial risk, subcontractor, government requirements and material. In addition, their measuring items were identified. Practical implications – This research assists projects managers to improve the evaluation process of infrastructure construction performance by incorporating a range of factors likely to impact on that performance and which are not included in current EVM calculations. Originality/value – This research addresses the need to include in the EVM calculation a range of risk factors affecting the performance of infrastructure projects in Australia and therefore makes this calculation a more reliable tool for assessing project performance

Financial crises and bank failures: a review of prediction methods

In this article we analyze financial and economic circumstances associated with the U.S. subprime mortgage crisis and the global financial turmoil that has led to severe crises in many countries. We suggest that the level of cross-border holdings of long-term securities between the United States and the rest of the world may indicate a direct link between the turmoil in the securitized market originated in the United States and that in other countries. We provide a summary of empirical results obtained in several Economics and Operations Research papers that attempt to explain, predict, or suggest remedies for financial crises or banking defaults; we also extensively outline the methodologies used in them. The intent of this article is to promote future empirical research for preventing financial crises.Subprime mortgage ; Financial crises

Financial crises and bank failures: a review of prediction methods

In this article we provide a summary of empirical results obtained in several economics and operations research papers that attempt to explain, predict, or suggest remedies for financial crises or banking defaults, as well as outlines of the methodologies used. We analyze financial and economic circumstances associated with the US subprime mortgage crisis and the global financial turmoil that has led to severe crises in many countries. The intent of the article is to promote future empirical research that might help to prevent bank failures and financial crises.financial crises; banking failures; operations research; early warning methods; leading indicators; subprime markets

Tradition and Innovation in Construction Project Management

This book is a reprint of the Special Issue 'Tradition and Innovation in Construction Project Management' that was published in the journal Buildings

Risk Management in Environment, Production and Economy

The term "risk" is very often associated with negative meanings. However, in most cases, many opportunities can present themselves to deal with the events and to develop new solutions which can convert a possible danger to an unforeseen, positive event. This book is a structured collection of papers dealing with the subject and stressing the importance of a relevant issue such as risk management. The aim is to present the problem in various fields of application of risk management theories, highlighting the approaches which can be found in literature