Mathematical and Statistical Models on Risk with applications in Business, Economics, Finance, and COVID-19

A special issue of Risks (ISSN 2227-9091).

Deadline for manuscript submissions: closed (20 September 2021) | Viewed by 12051

Special Issue Editors


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Guest Editor
1. Department of Finance, Fintech & Blockchain Research Center, Big Data Research Center, Asia University, Taichung City 41354, Taiwan
2. Department of Medical Research, China Medical University Hospital, Taichung City 40447, Taiwan
3. Department of Economics and Finance, The Hang Seng University of Hong Kong, Hong Kong, China
Interests: behavioral models; mathematical modeling; econometrics; energy economics; equity analysis; investment theory; risk management; behavioral economics; operational research; decision theory; environmental economics; public health; time series analysis; forecasting
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1. Faculty of Management Sciences, ILMA University, Karachi 75190, Pakistan
2. Sekolah Tinggi Ilmu Administrasi Abdul Haris - The Abdul Haris College of Administrative Science, Makassar, Indonesia
Interests: international finance; asset pricing; energy economics; energy management and environmental sciences
Special Issues, Collections and Topics in MDPI journals

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Guest Editor
Department of Economics, University of West Indies, St. Augustine, Trinidad, Trinidad and Tobago
Interests: stochastic analysis; PDEs; volatility; optimization; the portfolio models; options
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Special Issue Information

Dear Colleagues,

Mathematics and statistics play a vital role in many fields in Risks and provide theories and tools that have been widely used in all areas of Risks. Knowledge of mathematics, probability, and statistics is essential to develop theories in Risks and test their validity through the analysis of empirical real-world data. This Special Issue will also bring together practical, state-of-the-art applications of mathematics, probability, and statistical techniques in Risks with applications in business, economics, finance, and COVID-19.

Business, economics, and finance are three of the major areas of applications of Risks. Additionally, the COVID-19 pandemic is a very important current issue that is not only a significant concern for public health, but is also dealing a devastating impact on the socio-economic condition of the invaded countries. As such, the pandemic can be categorized as a risk that could trigger a loss of economic value or confidence in a substantial portion of the financial system that could have a severe negative influence on the real economy. However, the effect of the pandemic goes beyond borders, and as such becomes imperative to model the full breadth implications of the COVID-19 on emerging economies and world economies at large using statistical and mathematical applications—notably, in the areas of monetary and fiscal responses; changes in capital mobility; changes in international trade blueprint; and impact on financial, labor, and commodity markets, among other relevant issues.

We seek quantitative and qualitative empirical studies of business, economics, and finance related to the specific business, economic, and financial risk of COVID-19 using the identified perspectives or combinations of these areas.

Prof. Dr. Wing-Keung Wong
Dr. Husam Rjoub
Prof. Dr. Moawia Alghalith
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. Risks 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 1800 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

  • Monetary and fiscal responses
  • Capital mobility
  • Changes in the international blueprint
  • Financial, labor, and commodity markets
  • Health risk
  • Business
  • Economics
  • Finance

Published Papers (2 papers)

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Research

11 pages, 694 KiB  
Article
COVID-19 Pandemic and Investor Herding in International Stock Markets
by Elie Bouri, Riza Demirer, Rangan Gupta and Jacobus Nel
Risks 2021, 9(9), 168; https://doi.org/10.3390/risks9090168 - 13 Sep 2021
Cited by 57 | Viewed by 5832
Abstract
The aim of this study is to understand the effect of the recent novel coronavirus pandemic on investor herding behavior in global stock markets. Utilizing a daily newspaper-based index of financial uncertainty associated with infectious diseases, we examine the association between pandemic-induced market [...] Read more.
The aim of this study is to understand the effect of the recent novel coronavirus pandemic on investor herding behavior in global stock markets. Utilizing a daily newspaper-based index of financial uncertainty associated with infectious diseases, we examine the association between pandemic-induced market uncertainty and herding behavior in a set of 49 global stock markets. More specifically, we study the pattern of cross-sectional market behavior and examine whether the pandemic-induced uncertainty drives directional similarity across the global stock markets that cannot be explained by the standard asset pricing models. Utilizing a time-varying variation of the static herding model, we first identify periods during which herding is detected. We then employ probit models to examine the possible association between pandemic-induced uncertainty and the formation of herding. Our findings show a strong association between herd formation in stock markets and COVID-19 induced market uncertainty. The herding effect of COVID-19 induced market uncertainty is particularly strong for emerging stock markets as well as European PIIGS stock markets that include some of the hardest hit economies in Europe by the pandemic. The findings establish a direct link between the recent pandemic and herd formation among market participants in global financial markets. Considering the evidence that herding behavior can drive security prices away from equilibrium values supported by fundamentals and further contribute to price fluctuations in financial markets, our findings have significant implications for policy makers and investors in their efforts to monitor investor sentiment and mitigate mis-valuations that might occur as a result. Furthermore, the evidence on the behavioral pattern of stock investors in relation to infectious diseases uncertainty can be useful in studying price discovery in stock markets and might help market participants in forming hedging strategies to mitigate downside risk in their investment portfolios. Full article
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18 pages, 1071 KiB  
Article
A Study on Balanced Scorecard and Its Impact on Sustainable Development of Renewable Energy Organizations; A Mediating Role of Political and Regulatory Institutions
by Muhammad Rafiq, Saif Maqbool, José Moleiro Martins, Mário Nuno Mata, Rui Miguel Dantas, Shumaila Naz and Anabela Batista Correia
Risks 2021, 9(6), 110; https://doi.org/10.3390/risks9060110 - 04 Jun 2021
Cited by 7 | Viewed by 4613
Abstract
Organizational strategic programs are continuously evolving and gaining the attention of policy makers in order to construct organizations’ ecological and socioeconomic systems. The purpose of this study is to examine the relationship between the balanced scorecard (BSC) and sustainable development involving the mediated [...] Read more.
Organizational strategic programs are continuously evolving and gaining the attention of policy makers in order to construct organizations’ ecological and socioeconomic systems. The purpose of this study is to examine the relationship between the balanced scorecard (BSC) and sustainable development involving the mediated effect of political and regulatory influence. To achieve the core objectives of the research, the quantitative (positivism) research method is applied. The goal of the current research is made possible through the quantitative method because of its objective nature of reality. A total of 320 questionnaires were distributed among the different levels of managers; 280 respondents returned the questionnaire. The data are analyzed through a modern statistical tool called Smart-PLS, Partial Least Squares (PLS) is high graphical user interference software that is used to calculate Structural Equation Modeling (SEM) through PLS path modeling. Factor analysis is conducted to eliminate the variables that have no contribution and to reduce the variables to obtain better results in regression. The implications are for energy organizations that are struggling to deal with sustainable development and these tools can help them to achieve their sustainability goals. The study concludes that the adoption of BSC is essential to ensure sustainable development regardless of its challenges. Moreover, consideration of meta-constitutional rules as political influence is important to understand and address in order to mitigate financial loss. In nutshell, the use of BSC is highly recommended to eliminate the routine problems and to ensure environmental sustainability. Full article
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