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Axioms
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Information Theory in Economics, Finance, and Management
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Information Theory in Economics, Finance, and Management

A special issue of Axioms (ISSN 2075-1680). This special issue belongs to the section "Mathematical Analysis".

Deadline for manuscript submissions: closed (28 February 2023) | Viewed by 5860

Special Issue Editor

Prof. Dr. Joanna Olbryś

E-Mail Website
Guest Editor
Faculty of Computer Science, Bialystok University of Technology, Wiejska Street 45A, 15-351 Bialystok, Poland
Interests: econometrics; statistics; empirical finance; financial economics; operations research in finance; computational economics; stock market microstructure; computing in social science
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

This Special Issue aims to be a forum for the presentation of information theory applications in economics, finance, and management studies. The original idea of information theory dates back to the fundamental Shannon theory of communication (Shannon, 1948). The topic is very broad; therefore, it consolidates specialists from various disciplines, such as mathematics, physics, econometrics, data science, computer science, etc.       

The Special Issue’s areas of interest include, but are not limited to, the following wide range of topics:

  • Theoretical and experimental studies related to information theory in econophysics.
  • Algorithmic information theory.
  • Entropy-based applications in economics, finance, and management.
  • Entropy optimization approach in economics and finance.
  • Complexity in economic and social systems.
  • Information theory in fuzzy multiple-criteria decision-making methods.
  • Experimental data and time series data analyses in the context of information content, regularity, predictability, and randomness.

Theoretical and empirical contributions addressing any of the aforementioned issues are especially welcome. Nevertheless, the Special Issue is open to receiving further ideas not included in the aforementioned topics.

Prof. Dr. Joanna Olbryś
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. Axioms is an international peer-reviewed open access monthly 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 2400 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

  • information
  • econophysics
  • entropy
  • uncertainty
  • complexity
  • regularity
  • randomness
  • efficiency
  • predictability
  • chaos theory
  • mutual information
  • decision making
  • multicriteria methods
  • risk management
  • portfolio selection
  • financial markets
  • macroeconomic systems

Published Papers (3 papers)

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Research

14 pages, 361 KiB  
Article
Renyi Entropy of the Residual Lifetime of a Reliability System at the System Level
by Mhamed Mesfioui, Mohamed Kayid and Mansour Shrahili
Axioms 2023, 12(4), 320; https://doi.org/10.3390/axioms12040320 - 23 Mar 2023
Cited by 6 | Viewed by 870
Abstract
The measurement of uncertainty across the lifetimes of engineering systems has drawn more attention in recent years. It is a helpful metric for assessing how predictable a system’s lifetime is. In these circumstances, Renyi entropy, a Shannon entropy extension, is particularly appealing. In [...] Read more.
The measurement of uncertainty across the lifetimes of engineering systems has drawn more attention in recent years. It is a helpful metric for assessing how predictable a system’s lifetime is. In these circumstances, Renyi entropy, a Shannon entropy extension, is particularly appealing. In this paper, we develop the system signature to give an explicit formula for the Renyi entropy of the residual lifetime of a coherent system when all system components have lived to a time t. In addition, several findings are studied for the aforementioned entropy, including the bounds and order characteristics. It is possible to compare the residual lifespan predictability of two coherent systems with known signatures using the findings of this study. Full article
(This article belongs to the Special Issue Information Theory in Economics, Finance, and Management)
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18 pages, 641 KiB  
Article
How Particular Firm-Specific Features Influence Corporate Debt Level: A Case Study of Slovak Enterprises
by Dominika Gajdosikova, George Lăzăroiu and Katarina Valaskova
Axioms 2023, 12(2), 183; https://doi.org/10.3390/axioms12020183 - 10 Feb 2023
Cited by 14 | Viewed by 1812
Abstract
Debt financing is related to borrowing funds from enterprises and investors through bonds, banks, or financial institutions. Interest in debt financing has been rapidly growing in recent years and is now considered one of the most common ways an enterprise can increase its [...] Read more.
Debt financing is related to borrowing funds from enterprises and investors through bonds, banks, or financial institutions. Interest in debt financing has been rapidly growing in recent years and is now considered one of the most common ways an enterprise can increase its capital to run its business. However, the use of a large amount of debt is associated with the management of corporate indebtedness, requiring the tracking of the entire financial performance of the company. The chief objective of this study was to determine and assess the indebtedness level of enterprises operating in the Slovak Republic using 12 crucial debt ratios and then to clarify whether there are statistically relevant dissimilarities in corporate debt as a result of the firm size and its legal form, representing relevant company-specific features having an impact on corporate indebtedness. Subsequently, a more elaborate analysis addressing statistically relevant dissimilarities between separate indebtedness ratios in relation to the size of the company and its legal form was carried out by deploying the nonparametric Kruskal–Wallis test. We leveraged the Bonferroni correction to specify where stochastic ascendancy occurs. The Kruskal–Wallis test result revealed statistically significant dissimilarities in the values of debt ratios as a result of the firm size and the legal form of the company, which confirmed previous results indicating the most relevant determinants shaping corporate debt. Recognizing the repercussions of firm size and legal form on the corporate debt policy plays an important role, as these company-specific features may be perceived as proxies for the default likelihood or for the volatility of corporate assets, making the regulatory process of creditors and stakeholders straightforward. The findings confirmed the theories of numerous researchers who claimed that firm size and legal form are critical aspects of corporate debt. Full article
(This article belongs to the Special Issue Information Theory in Economics, Finance, and Management)
20 pages, 533 KiB  
Article
Green Financing Efficiency and Influencing Factors of Chinese Listed Construction Companies against the Background of Carbon Neutralization: A Study Based on Three-Stage DEA and System GMM
by Yaguai Yu, Yina Yan, Panyi Shen, Yuting Li and Taohan Ni
Axioms 2022, 11(9), 467; https://doi.org/10.3390/axioms11090467 - 13 Sep 2022
Cited by 7 | Viewed by 1631
Abstract
This paper combines the green industrial strategy and green financial policies for the construction industry implemented in China in the context of carbon neutrality. A total of 67 listed companies in the construction industry from 2017 to 2020 were taken as the research [...] Read more.
This paper combines the green industrial strategy and green financial policies for the construction industry implemented in China in the context of carbon neutrality. A total of 67 listed companies in the construction industry from 2017 to 2020 were taken as the research sample, the green financing efficiency was measured, and its influencing factors were identified based on the three-stage DEA and systematic GMM method. The findings show that the green financing efficiency of listed companies in the construction industry is not high overall, although it is increasing. There are obvious differences in subsectors, among which, the efficiency of architectural design and service industries is relatively high. Overall, the financial environment, and the interaction between the government and the financial market, significantly and positively influence the green financing efficiency. In addition, the macroeconomic environment and the government–enterprise relationship has a complex impact on the green financing efficiency. The ownership concentration and having corporate executives with a financial background have a significant positive impact on the green financing efficiency, and the enterprise size, the debt maturity structure, and the R&D and innovation capability have a significant negative impact. The findings of this paper have implications for the improvement of the policy system that supports green development in the construction industry, and provide guidance for the strategic adjustment of the construction industry itself. Full article
(This article belongs to the Special Issue Information Theory in Economics, Finance, and Management)
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