for Journals by Title or ISSN
for Articles by Keywords
  Subjects -> BUSINESS AND ECONOMICS (Total: 3133 journals)
    - ACCOUNTING (92 journals)
    - BANKING AND FINANCE (267 journals)
    - BUSINESS AND ECONOMICS (1158 journals)
    - COOPERATIVES (4 journals)
    - ECONOMIC SCIENCES: GENERAL (169 journals)
    - HUMAN RESOURCES (94 journals)
    - INSURANCE (22 journals)
    - INTERNATIONAL COMMERCE (126 journals)
    - INVESTMENTS (27 journals)
    - MACROECONOMICS (15 journals)
    - MANAGEMENT (526 journals)
    - MARKETING AND PURCHASING (89 journals)
    - MICROECONOMICS (24 journals)
    - PUBLIC FINANCE, TAXATION (35 journals)

BUSINESS AND ECONOMICS (1158 journals)                  1 2 3 4 5 6 | Last

Showing 1 - 200 of 1566 Journals sorted alphabetically
4OR: A Quarterly Journal of Operations Research     Hybrid Journal   (Followers: 10)
Abacus     Hybrid Journal   (Followers: 13)
Accounting Forum     Hybrid Journal   (Followers: 25)
Acta Amazonica     Open Access   (Followers: 5)
Acta Commercii     Open Access   (Followers: 4)
Acta Oeconomica     Full-text available via subscription   (Followers: 2)
Acta Scientiarum. Human and Social Sciences     Open Access   (Followers: 6)
Acta Universitatis Danubius. Œconomica     Open Access   (Followers: 3)
Acta Universitatis Nicolai Copernici Zarządzanie     Open Access   (Followers: 4)
AD-minister     Open Access   (Followers: 3)
ADR Bulletin     Open Access   (Followers: 6)
Advances in Developing Human Resources     Hybrid Journal   (Followers: 23)
Advances in Economics and Business     Open Access   (Followers: 11)
AfricaGrowth Agenda     Full-text available via subscription   (Followers: 1)
African Affairs     Hybrid Journal   (Followers: 59)
African Development Review     Hybrid Journal   (Followers: 33)
African Journal of Business and Economic Research     Full-text available via subscription   (Followers: 1)
African Journal of Business Ethics     Open Access   (Followers: 6)
African Review of Economics and Finance     Open Access   (Followers: 3)
Afro-Asian Journal of Finance and Accounting     Hybrid Journal   (Followers: 7)
Afyon Kocatepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi     Open Access   (Followers: 3)
Agronomy     Open Access   (Followers: 11)
Akademika : Journal of Southeast Asia Social Sciences and Humanities     Open Access   (Followers: 5)
Alphanumeric Journal : The Journal of Operations Research, Statistics, Econometrics and Management Information Systems     Open Access   (Followers: 5)
American Economic Journal : Applied Economics     Full-text available via subscription   (Followers: 158)
American Journal of Business     Hybrid Journal   (Followers: 16)
American Journal of Business and Management     Open Access   (Followers: 53)
American Journal of Business Education     Open Access   (Followers: 10)
American Journal of Economics and Business Administration     Open Access   (Followers: 26)
American Journal of Economics and Sociology     Hybrid Journal   (Followers: 28)
American Journal of Evaluation     Hybrid Journal   (Followers: 13)
American Journal of Finance and Accounting     Hybrid Journal   (Followers: 20)
American Journal of Health Economics     Full-text available via subscription   (Followers: 12)
American Journal of Industrial and Business Management     Open Access   (Followers: 23)
American Journal of Medical Quality     Hybrid Journal   (Followers: 7)
American Law and Economics Review     Hybrid Journal   (Followers: 25)
ANALES de la Universidad Central del Ecuador     Open Access   (Followers: 2)
Annales de l'Institut Henri Poincare (C) Non Linear Analysis     Full-text available via subscription   (Followers: 1)
Annals in Social Responsibility     Full-text available via subscription  
Annals of Finance     Hybrid Journal   (Followers: 28)
Annals of Operations Research     Hybrid Journal   (Followers: 8)
Annual Review of Economics     Full-text available via subscription   (Followers: 30)
Applied Developmental Science     Hybrid Journal   (Followers: 3)
Applied Economics     Hybrid Journal   (Followers: 48)
Applied Economics Letters     Hybrid Journal   (Followers: 29)
Applied Economics Quarterly     Full-text available via subscription   (Followers: 10)
Applied Financial Economics     Hybrid Journal   (Followers: 23)
Applied Mathematical Finance     Hybrid Journal   (Followers: 7)
Applied Stochastic Models in Business and Industry     Hybrid Journal   (Followers: 5)
Arab Economic and Business Journal     Open Access   (Followers: 3)
Archives of Business Research     Open Access   (Followers: 6)
Arena Journal     Full-text available via subscription   (Followers: 1)
Argomenti. Rivista di economia, cultura e ricerca sociale     Open Access   (Followers: 2)
ASEAN Economic Bulletin     Full-text available via subscription   (Followers: 5)
Asia Pacific Business Review     Hybrid Journal   (Followers: 6)
Asia Pacific Journal of Human Resources     Hybrid Journal   (Followers: 321)
Asia Pacific Viewpoint     Hybrid Journal   (Followers: 1)
Asia-Pacific Journal of Business Administration     Hybrid Journal   (Followers: 3)
Asia-Pacific Journal of Operational Research     Hybrid Journal   (Followers: 3)
Asia-Pacific Management and Business Application     Open Access  
Asian Business Review     Open Access   (Followers: 2)
Asian Case Research Journal     Hybrid Journal   (Followers: 1)
Asian Development Review     Open Access   (Followers: 14)
Asian Economic Journal     Hybrid Journal   (Followers: 8)
Asian Economic Papers     Hybrid Journal   (Followers: 7)
Asian Economic Policy Review     Hybrid Journal   (Followers: 4)
Asian Journal of Accounting and Governance     Open Access   (Followers: 4)
Asian Journal of Business Ethics     Hybrid Journal   (Followers: 7)
Asian Journal of Social Sciences and Management Studies     Open Access   (Followers: 6)
Asian Journal of Sustainability and Social Responsibility     Open Access   (Followers: 1)
Asian Journal of Technology Innovation     Hybrid Journal   (Followers: 8)
Asian-pacific Economic Literature     Hybrid Journal   (Followers: 5)
AStA Wirtschafts- und Sozialstatistisches Archiv     Hybrid Journal   (Followers: 5)
Atlantic Economic Journal     Hybrid Journal   (Followers: 15)
Australasian Journal of Regional Studies, The     Full-text available via subscription   (Followers: 2)
Australian Cottongrower, The     Full-text available via subscription   (Followers: 1)
Australian Economic Papers     Hybrid Journal   (Followers: 29)
Australian Economic Review     Hybrid Journal   (Followers: 6)
Australian Journal of Maritime and Ocean Affairs     Hybrid Journal   (Followers: 10)
Balkan Region Conference on Engineering and Business Education     Open Access   (Followers: 1)
Baltic Journal of Real Estate Economics and Construction Management     Open Access   (Followers: 1)
Banks in Insurance Report     Hybrid Journal   (Followers: 1)
BBR - Brazilian Business Review     Open Access   (Followers: 4)
Benchmarking : An International Journal     Hybrid Journal   (Followers: 11)
Benefit : Jurnal Manajemen dan Bisnis     Open Access  
BER : Consumer Confidence Survey     Full-text available via subscription   (Followers: 4)
BER : Economic Prospects : An Executive Summary     Full-text available via subscription  
BER : Economic Prospects : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Intermediate Goods Industries Survey     Full-text available via subscription   (Followers: 1)
BER : Manufacturing Survey : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Motor Trade Survey     Full-text available via subscription   (Followers: 1)
BER : Retail Sector Survey     Full-text available via subscription   (Followers: 2)
BER : Retail Survey : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Survey of Business Conditions in Building and Construction : An Executive Summary     Full-text available via subscription   (Followers: 4)
BER : Survey of Business Conditions in Manufacturing : An Executive Summary     Full-text available via subscription   (Followers: 3)
BER : Survey of Business Conditions in Retail : An Executive Summary     Full-text available via subscription   (Followers: 3)
BER : Trends : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Wholesale Sector Survey     Full-text available via subscription   (Followers: 1)
Berkeley Business Law Journal     Free   (Followers: 10)
Bio-based and Applied Economics     Open Access   (Followers: 1)
Biodegradation     Hybrid Journal   (Followers: 1)
Biology Direct     Open Access   (Followers: 7)
Black Enterprise     Full-text available via subscription  
Board & Administrator for Administrators only     Hybrid Journal  
Border Crossing : Transnational Working Papers     Open Access   (Followers: 2)
Briefings in Real Estate Finance     Hybrid Journal   (Followers: 5)
British Journal of Industrial Relations     Hybrid Journal   (Followers: 35)
Brookings Papers on Economic Activity     Open Access   (Followers: 48)
Brookings Trade Forum     Full-text available via subscription   (Followers: 3)
BRQ Business Research Quarterly     Open Access   (Followers: 2)
Building Sustainable Legacies : The New Frontier Of Societal Value Co-Creation     Full-text available via subscription   (Followers: 1)
Bulletin of Economic Research     Hybrid Journal   (Followers: 17)
Bulletin of Geography. Socio-economic Series     Open Access   (Followers: 7)
Bulletin of Indonesian Economic Studies     Hybrid Journal   (Followers: 3)
Bulletin of the Dnipropetrovsk University. Series : Management of Innovations     Open Access   (Followers: 1)
Business & Entrepreneurship Journal     Open Access   (Followers: 18)
Business & Information Systems Engineering     Hybrid Journal   (Followers: 5)
Business & Society     Hybrid Journal   (Followers: 9)
Business : Theory and Practice / Verslas : Teorija ir Praktika     Open Access   (Followers: 1)
Business and Economic Research     Open Access   (Followers: 6)
Business and Management Horizons     Open Access   (Followers: 12)
Business and Management Research     Open Access   (Followers: 17)
Business and Management Studies     Open Access   (Followers: 9)
Business and Politics     Hybrid Journal   (Followers: 6)
Business and Professional Communication Quarterly     Hybrid Journal   (Followers: 7)
Business and Society Review     Hybrid Journal   (Followers: 5)
Business Economics     Hybrid Journal   (Followers: 6)
Business Ethics: A European Review     Hybrid Journal   (Followers: 16)
Business Horizons     Hybrid Journal   (Followers: 9)
Business Information Review     Hybrid Journal   (Followers: 14)
Business Management and Strategy     Open Access   (Followers: 43)
Business Research     Hybrid Journal   (Followers: 2)
Business Strategy and the Environment     Hybrid Journal   (Followers: 13)
Business Strategy Review     Hybrid Journal   (Followers: 7)
Business Strategy Series     Hybrid Journal   (Followers: 6)
Business Systems & Economics     Open Access   (Followers: 2)
Business Systems Research Journal     Open Access   (Followers: 5)
Business, Management and Education     Open Access   (Followers: 18)
Business, Peace and Sustainable Development     Full-text available via subscription   (Followers: 3)
Bustan     Hybrid Journal   (Followers: 1)
Cadernos EBAPE.BR     Open Access   (Followers: 1)
Cambridge Journal of Economics     Hybrid Journal   (Followers: 58)
Cambridge Journal of Regions, Economy and Society     Hybrid Journal   (Followers: 11)
Canadian Journal of Administrative Sciences / Revue Canadienne des Sciences de l Administration     Hybrid Journal   (Followers: 1)
Canadian Journal of Economics/Revue Canadienne d`Economique     Hybrid Journal   (Followers: 28)
Canadian journal of nonprofit and social economy research     Open Access   (Followers: 2)
Capitalism and Society     Hybrid Journal   (Followers: 2)
Capitalism Nature Socialism     Hybrid Journal   (Followers: 12)
Case Studies in Business and Management     Open Access   (Followers: 9)
CBU International Conference Proceedings     Open Access   (Followers: 1)
Central European Business Review     Open Access   (Followers: 1)
Central European Journal of Operations Research     Hybrid Journal   (Followers: 5)
Central European Journal of Public Policy     Open Access   (Followers: 2)
CESifo Economic Studies     Hybrid Journal   (Followers: 16)
Chain Reaction     Full-text available via subscription  
Challenge     Full-text available via subscription   (Followers: 4)
China & World Economy     Hybrid Journal   (Followers: 15)
China : An International Journal     Full-text available via subscription   (Followers: 17)
China Economic Journal: The Official Journal of the China Center for Economic Research (CCER) at Peking University     Hybrid Journal   (Followers: 10)
China Economic Review     Hybrid Journal   (Followers: 9)
China Finance Review International     Hybrid Journal   (Followers: 5)
China Nonprofit Review     Hybrid Journal   (Followers: 3)
China perspectives     Open Access   (Followers: 11)
Chinese Economy     Full-text available via subscription  
Ciência & Saúde Coletiva     Open Access   (Followers: 2)
CLIO América     Open Access   (Followers: 1)
Cliometrica     Hybrid Journal   (Followers: 4)
COEPTUM     Open Access  
Community Development Journal     Hybrid Journal   (Followers: 24)
Compensation & Benefits Review     Hybrid Journal   (Followers: 7)
Competition & Change     Hybrid Journal   (Followers: 10)
Competitive Intelligence Review     Hybrid Journal   (Followers: 2)
Competitiveness Review : An International Business Journal incorporating Journal of Global Competitiveness     Hybrid Journal   (Followers: 6)
Computational Economics     Hybrid Journal   (Followers: 9)
Computational Mathematics and Modeling     Hybrid Journal   (Followers: 8)
Computer Law & Security Review     Hybrid Journal   (Followers: 16)
Computers & Operations Research     Hybrid Journal   (Followers: 10)
Construction Innovation: Information, Process, Management     Hybrid Journal   (Followers: 14)
Contemporary Wales     Full-text available via subscription   (Followers: 3)
Contextus - Revista Contemporânea de Economia e Gestão     Open Access   (Followers: 1)
Contributions to Political Economy     Hybrid Journal   (Followers: 5)
Corporate Communications An International Journal     Hybrid Journal   (Followers: 7)
Corporate Philanthropy Report     Hybrid Journal   (Followers: 2)
Corporate Reputation Review     Hybrid Journal   (Followers: 4)
Creative and Knowledge Society     Open Access   (Followers: 10)
Creative Industries Journal     Hybrid Journal   (Followers: 9)
CRIS - Bulletin of the Centre for Research and Interdisciplinary Study     Open Access   (Followers: 1)
Crossing the Border : International Journal of Interdisciplinary Studies     Open Access   (Followers: 4)
Cuadernos de Administración (Universidad del Valle)     Open Access   (Followers: 2)
Cuadernos de Economía     Open Access   (Followers: 2)
Cuadernos de Economia - Latin American Journal of Economics     Open Access   (Followers: 2)
Cuadernos de Estudios Empresariales     Open Access   (Followers: 2)
Current Opinion in Creativity, Innovation and Entrepreneurship     Open Access   (Followers: 9)
De Economist     Hybrid Journal   (Followers: 12)
Decision Analysis     Full-text available via subscription   (Followers: 10)
Decision Sciences     Hybrid Journal   (Followers: 17)
Decision Support Systems     Hybrid Journal   (Followers: 16)
Defence and Peace Economics     Hybrid Journal   (Followers: 18)
der markt     Hybrid Journal   (Followers: 1)
Desenvolvimento em Questão     Open Access  

        1 2 3 4 5 6 | Last

Journal Cover Computational Economics
  [SJR: 0.24]   [H-I: 30]   [9 followers]  Follow
   Hybrid Journal Hybrid journal (It can contain Open Access articles)
   ISSN (Print) 1572-9974 - ISSN (Online) 0927-7099
   Published by Springer-Verlag Homepage  [2352 journals]
  • An Agent-Based Simulation of the Stolper–Samuelson Effect
    • Authors: Luzius Meisser; C. Friedrich Kreuser
      Pages: 533 - 547
      Abstract: We demonstrate that agent-based simulations can exhibit results in line with classic macroeconomic theory. In particular, we present an agent-based simulation of an Arrow–Debreu economy that accurately exhibits the Stolper–Samuelson effect as an emergent property. Absent of a Walrasian auctioneer or any other central coordination, we let firm and consumer agents of different types interact in an open, money-driven market. Exogenous preference shocks result in price and wage shifts that are in accordance with the general equilibrium solution, not only qualitatively but also quantitatively with high accuracy. Key to this achievement are three independent measures. First, we overcome the poor input synchronization of conventional price finding heuristics of firms in agent-based models by introducing sensor prices, a novel approach to price finding that decouples information exploitation from information exploration. Second, we improve accuracy and convergence by employing exponential search as exploration algorithm. Third, we normalize prices indirectly by fixing dividends, thereby stabilizing the system’s dynamics.
      PubDate: 2017-12-01
      DOI: 10.1007/s10614-016-9616-x
      Issue No: Vol. 50, No. 4 (2017)
  • Influence of Inefficiency in Government Expenditure on the Multiplier of
           Public Investment
    • Authors: Shigeaki Ogibayashi; Kosei Takashima
      Pages: 549 - 577
      Abstract: The multiplier of public investment has been expected to far exceed 1, owing to the indirect influence of public spending. However, it has been reported that actual multipliers for a real economy are sometimes <1; the reason for this has not been adequately explained in the literature. This study analyzes the influence of inefficient public expenditure on gross domestic product, using both an agent-based model and a theoretical derivation of the equation for the multiplier of public investment, the latter of which is based on our revised version of Morishima’s economic linkage table. The use of both of these instruments indicates that gross domestic product decreases with an increase in the inefficiency of public expenditure, which is defined as the ratio of firm subsidies to the government’s total expenditure. The multiplier of public investment becomes <1 when the degree of inefficiency is sufficiently large, and the ratio of the firm’s investment spending to the total amount of subsidy funding is sufficiently small. A multiplier lower than 1 is thought to appear when the degree of inefficiency in public expenditure is sufficiently large and firms are reluctant to invest; much of the surplus amount of subsidized funds can be deposited into a bank account, thus reducing the money stock in the market.
      PubDate: 2017-12-01
      DOI: 10.1007/s10614-017-9671-y
      Issue No: Vol. 50, No. 4 (2017)
  • Computational Experiments Successfully Predict the Emergence of
           Autocorrelations in Ultra-High-Frequency Stock Returns
    • Authors: Jian Zhou; Gao-Feng Gu; Zhi-Qiang Jiang; Xiong Xiong; Wei Chen; Wei Zhang; Wei-Xing Zhou
      Pages: 579 - 594
      Abstract: Social and economic systems are complex adaptive systems, in which heterogenous agents interact and evolve in a self-organized manner, and macroscopic laws emerge from microscopic properties. To understand the behaviors of complex systems, computational experiments based on physical and mathematical models provide a useful tools. Here, we perform computational experiments using a phenomenological order-driven model called the modified Mike–Farmer (MMF) to predict the impacts of order flows on the autocorrelations in ultra-high-frequency returns, quantified by Hurst index \(H_r\) . Three possible determinants embedded in the MMF model are investigated, including the Hurst index \(H_s\) of order directions, the Hurst index \(H_x\) and the power-law tail index \(\alpha _x\) of the relative prices of placed orders. The computational experiments predict that \(H_r\) is negatively correlated with \(\alpha _x\) and \(H_x\) and positively correlated with \(H_s\) . In addition, the values of \(\alpha _x\) and \(H_x\) have negligible impacts on \(H_r\) , whereas \(H_s\) exhibits a dominating impact on \(H_r\) . The predictions of the MMF model on the dependence of \(H_r\) upon \(H_s\) and \(H_x\) are verified by the empirical results obtained from the order flow data of 43 Chinese stocks.
      PubDate: 2017-12-01
      DOI: 10.1007/s10614-016-9612-1
      Issue No: Vol. 50, No. 4 (2017)
  • Is the Extension of Trading Hours Always Beneficial' An Artificial
           Agent-Based Analysis
    • Authors: Kotaro Miwa; Kazuhiro Ueda
      Pages: 595 - 627
      Abstract: The extension of trading hours to provide more trading opportunities and improve price efficiency has increasingly been discussed. However, currently, stock market trading activity during the extended-hours session is quite limited. Thus, we should examine whether the extension of trading hours is effective in creating more trading opportunities and increasing price efficiency even if there are only a few market participants during the extended session. For this study, we build an agent-based market model and analyze the effect of extending trading hours. We find that although the extension of trading hours could increase daily trading volume, price formation and trading activity could be distorted if the number of market participants during the extended-hours session is limited. Specifically, the extension could result in more concentrated trading at the open of the regular trading session, greater divergence between market prices and the fundamental value of assets, as well as higher return volatility (especially at the open).
      PubDate: 2017-12-01
      DOI: 10.1007/s10614-016-9613-0
      Issue No: Vol. 50, No. 4 (2017)
  • Endogenous Fundamental and Stock Cycles
    • Authors: Weihong Huang; Yu Zhang
      Pages: 629 - 653
      Abstract: A heterogeneous agent model of a financial market with endogenous fundamental value is built to study the recurrence of stock cycles. In a hypothetical economy, a firm produces consumption goods and issues a risk-free corporate bond and a risky stock in the financial market. Heterogeneous agents provide either capital or labor to the production, and they trade in the financial market by using fundamental or technical strategies. The fundamental value of the firm’s stock is endogenously determined by the firm’s production output. Agents’ investment in the risk-free bond is reinvested into future production. Steady-state analysis shows possible economic equilibrium under a proper parameter setting. In numerical simulations, stock cycles recur, and each stock cycle consists of the following four phases: accumulation, boom, crash, and recovery. A close investigation of stock cycles shows that a prosperous stock market may accelerate the formation of bubbles by drawing resources from future production. Although chartists are less wealthy than fundamentalists, they are capable of having a significant effect on the stock market.
      PubDate: 2017-12-01
      DOI: 10.1007/s10614-016-9631-y
      Issue No: Vol. 50, No. 4 (2017)
  • The Psychological Force Model for Lowest Unique Bid Auction
    • Authors: Rui Hu; Jinzhong Guo; Qinghua Chen; Tao Zheng
      Pages: 655 - 667
      Abstract: We study a type of complex system arising from economics, the lowest unique bid auction (LUBA) system which is a new generation of online markets. Different from the traditional auction in which the winner is who bids the highest price, in LUBA, the winner is whoever places the lowest of all unique bids. In this paper, we propose a multi-agent model to factually describes the human psychologies of the decision-making process in LUBA. The model produces bid-price distributions that are in excellent agreement with those from the real data, including the whole inverted-J shape which is a general feature of the real bid price distribution, and the exponential decreasing shape in the higher price range. This implies that it is possible for us to capture the essential features of human psychologies in the competitive environment as exemplified by LUBA and that we may provide significant quantitative insights into complex socio-economic phenomena.
      PubDate: 2017-12-01
      DOI: 10.1007/s10614-016-9614-z
      Issue No: Vol. 50, No. 4 (2017)
  • Can Sentiment Analysis and Options Volume Anticipate Future Returns'
    • Authors: Patrick Houlihan; Germán G. Creamer
      Pages: 669 - 685
      Abstract: This paper evaluates the question of whether sentiment extracted from social media and options volume anticipates future asset return. The research utilized both textual based data and a particular market data derived call-put ratio, collected between July 2009 and September 2012. It shows that: (1) features derived from market data and a call-put ratio can improve model performance, (2) sentiment derived from StockTwits, a social media platform for the financial community, further enhances model performance, (3) aggregating all features together also facilitates performance, and (4) sentiment from social media and market data can be used as risk factors in an asset pricing framework.
      PubDate: 2017-12-01
      DOI: 10.1007/s10614-017-9694-4
      Issue No: Vol. 50, No. 4 (2017)
  • Emergent Heterogeneity in Keyword Valuation in Sponsored Search Markets: A
           Closer-to-Practice Perspective
    • Authors: Agam Gupta; Biswatosh Saha; Uttam K. Sarkar
      Pages: 687 - 710
      Abstract: Reported literature in sponsored search advertising markets asserts that at equilibrium an advertiser has no incentive to swap her position with another advertiser and her bid on a keyword would be bound with the click value acting as an upper bound. We investigate a closer-to-practice case where advertisers do not have an ex-ante known value per click and her bid on a keyword is an outcome of simple cost-cap heuristics on a portfolio of keywords. Using simulations and an experimental setup containing advertisers that have the same upper-cap on cost, we show that the distribution of advertisers’ cost per click and bids are emergent in nature. Keywords exhibit ex post heterogeneity in observed valuation even when all advertisers bid under the same cost-cap constraint. We explore the dynamics of the market, such as temporal stability of advertiser’s bids, and advertiser’s rank based on the click-share along with the distribution of ex post valuation of keywords associated with this closer to practice setup. The results call for a richer understanding of these markets that can incorporate temporal interdependence between auctions of a keyword as well as boundedly rational behavior of advertisers working under imperfect information.
      PubDate: 2017-12-01
      DOI: 10.1007/s10614-016-9637-5
      Issue No: Vol. 50, No. 4 (2017)
  • Experimental Analysis of Corporate Wage Negotiations Based on the
           Ultimatum Game: A New Approach Using a Combination of Laboratory and fMRI
    • Authors: Hidetoshi Yamaji; Masatoshi Gotoh; Yoshinori Yamakawa
      Abstract: Workers who have limited wealth are also at a disadvantage in terms of income distribution. In accounting this brings to mind the way in which managers may limit wages by manipulating accounting information when negotiating with workers. While researchers have investigated whether or not managers manipulate information to keep workers’ wages low, they have rarely been able to produce sufficient empirical evidence to support their arguments. So we seek to bridge this gap between the present conditions and academic research. Focusing on the recent tendency for labor-management negotiations to take the form of individual bargaining between managers and workers, we conduct experiments of psychology and perform neuro-experiments using fMRI. It was found that a trend existed where managers who had a high level of empathy and would normally be expected to recognize workers’ difficult circumstances, conversely tended to compel workers to accept unfavorable outcomes.
      PubDate: 2017-11-10
      DOI: 10.1007/s10614-017-9769-2
  • Improving Financial Distress Prediction Using Financial Network-Based
           Information and GA-Based Gradient Boosting Method
    • Authors: Jiaming Liu; Chong Wu; Yongli Li
      Abstract: Previous studies on financial distress prediction have chiefly used financial indicators which derived from financial statements as explanatory variables, so some potentially useful information that contained in the financial network was not considered. The listed companies can be represented as a complex financial network which the firms are regarded as nodes and the links account for stock returns correlation. The purpose of this study is to investigate whether network-based variables can improve the predictive power of financial distress prediction. Therefore, this study proposed a genetic algorithm (GA) approach to parameter selection in gradient boosting decision tree and integrated network-based variables for financial distress prediction. In order to verify the prediction capability of network-based variables and GA-based gradient boosting method in financial distress prediction, empirical study based on Chinese listed firms’ real data is employed, and comparative analysis is conducted. The experiment results indicate that the introduction of network-based variables and GA-based gradient boosting method for financial distress prediction can enhance predictive performance in terms of accuracy, recall, precision, F-score, type I error, and type II error.
      PubDate: 2017-11-09
      DOI: 10.1007/s10614-017-9768-3
  • An Artificial Neural Network-Based Approach to the Monetary Model of
           Exchange Rate
    • Authors: Huseyin Ince; Ali Fehim Cebeci; Salih Zeki Imamoglu
      Abstract: This paper aims to investigate the predictive accuracy of the flexible price monetary model of the exchange rate, estimated by an approach based on combining the vector autoregressive model and multilayer feedforward neural networks. The forecasting performance of this nonlinear, nonparametric model is analyzed comparatively with a monetary model estimated in a linear static framework; the monetary model estimated in a linear dynamic vector autoregressive framework; the monetary model estimated in a parametric nonlinear dynamic threshold vector autoregressive framework; and the naïve random walk model applied to six different exchange rates over three forecasting periods. The models are compared in terms of both the magnitude of their forecast errors and the economic value of their forecasts. The proposed model yielded promising outcomes by performing better than the random walk model in 16 out of 18 instances in terms of the root mean square error and 15 out of 18 instances in terms of mean return and Sharpe ratio. The model also performed better than linear models in 17 out of 18 instances for root mean square error and 14 out of 18 instances for mean returns and Sharpe ratio. The distinguishing feature of the proposed model versus the present models in the literature is its robustness to outperform the random walk model, regardless of whether the magnitude of forecast errors or the economic value of the forecasts is chosen as a performance measure.
      PubDate: 2017-11-07
      DOI: 10.1007/s10614-017-9765-6
  • Evolutionary Computation for Macroeconomic Forecasting
    • Authors: Oscar Claveria; Enric Monte; Salvador Torra
      Abstract: The main objective of this study is twofold. First, we propose an empirical modelling approach based on genetic programming to forecast economic growth by means of survey data on expectations. We use evolutionary algorithms to estimate a symbolic regression that links survey-based expectations to a quantitative variable used as a yardstick, deriving mathematical functional forms that approximate the target variable. The set of empirically-generated proxies of economic growth are used as building blocks to forecast the evolution of GDP. Second, we use these estimates of GDP to assess the impact of the 2008 financial crisis on the accuracy of agents’ expectations about the evolution of the economic activity in four Scandinavian economies. While we find an improvement in the capacity of agents’ to anticipate economic growth after the crisis, predictive accuracy worsens in relation to the period prior to the crisis. The most accurate GDP forecasts are obtained for Sweden.
      PubDate: 2017-11-07
      DOI: 10.1007/s10614-017-9767-4
  • Getting the Best of Both Worlds' Developing Complementary
           Equation-Based and Agent-Based Models
    • Authors: Claudius Gräbner; Catherine S. E. Bale; Bernardo Alves Furtado; Brais Alvarez-Pereira; James E. Gentile; Heath Henderson; Francesca Lipari
      Abstract: We argue that building agent-based and equation-based versions of the same theoretical model is a fruitful way of gaining insights into real-world phenomena. We use the epistemological concept of “models as isolations and surrogate systems” as the philosophical underpinning of this argument. In particular, we show that agent-based and equation-based approaches align well when used simultaneously and, contrary to some common misconceptions, should be considered complements rather than substitutes. We illustrate the usefulness of the approach by examining a model of the long-run relationship between economic development and inequality (i.e., the Kuznets hypothesis).
      PubDate: 2017-11-01
      DOI: 10.1007/s10614-017-9763-8
  • Tail-Related Risk Measurement and Forecasting in Equity Markets
    • Authors: Stelios Bekiros; Nikolaos Loukeris; Iordanis Eleftheriadis; Christos Avdoulas
      Abstract: Parametric, simulation-based and hybrid methods are utilized to estimate various risk measures such as Value-at-Risk (VaR), Conditional VaR and coherent Expected Shortfall. An exhaustive backtesting analysis is performed for London’s FTSE 100 index and a comparative evaluation of the predictability of the investigated models is performed with the use of various statistical tests. We show that optimal tail risk forecasting necessitates that many factors be considered such as asset structure and capitalization and specific market conditions i.e., normal or crisis periods. Specifically, for large capitalization stocks and long investment horizons parametric modeling accounted for relatively better risk estimation in normal quantiles, whilst for short-term trading strategies, the non-parametric methods are more suitable for measuring extreme tail risk of small-cap stocks.
      PubDate: 2017-11-01
      DOI: 10.1007/s10614-017-9766-5
  • Forecasting Crude Oil Prices: A Comparison Between Artificial Neural
           Networks and Vector Autoregressive Models
    • Authors: Sepehr Ramyar; Farhad Kianfar
      Abstract: Given the importance of crude oil prices for businesses, governments and policy makers, this paper investigates predictability of oil prices using artificial neural networks taking into account the exhaustible nature of crude oil and impact of monetary policy along with other major drivers of crude oil prices. A multilayer perceptron neural network is developed and trained with historical data from 1980 to 2014 and using mean square error for testing data, optimal number of hidden layer neurons is determined and the designed MLP neural network is used for estimation of the forecasting model. Meanwhile, an economic model for crude oil prices is developed and estimated using a vector autoregressive model. Results from the proposed ANN are then compared to those of the vector autoregressive model and based on the corresponding R-squared for each model, it is concluded that the MLP neural network can more accurately predict crude oil prices than a VAR model. It is shown, via empirical analysis, that with a combination of appropriate neural network design, feature engineering, and incorporation of crude oil market realities in the model, an accurate prediction of crude oil prices can be attained.
      PubDate: 2017-10-30
      DOI: 10.1007/s10614-017-9764-7
  • Trade Costs and Endogenous Nontradability in a Model with Sectoral and
           Firm-Level Heterogeneity
    • Authors: Manoj Atolia
      Abstract: The paper takes a first step in the direction of simultaneously incorporating sectoral and firm-level heterogeneity in the models of international trade and macroeconomics in a tractable manner: without increasing the complexity of numerical computations compared to the existing models with heterogeneity in one dimension. In a model with sectoral heterogeneity in trade costs and firm-level heterogeneity in productivity, introducing one source of heterogeneity at a time and piecing together the results implies that, on reduction in trade costs, more goods and more varieties of every tradable good become traded. In contrast, in the correctly specified model with simultaneous heterogeneity in both dimensions, while more goods do indeed become tradable, but for more than 50% of the previously traded goods, the number of traded varieties falls. The model also reconciles apparently contrasting predictions for the differences in the deviation of domestic price from the world price for the traded and nontraded goods when heterogeneity is introduced, one dimension at a time.
      PubDate: 2017-10-23
      DOI: 10.1007/s10614-017-9761-x
  • Exploring Dynamic Impact of Foreign Direct Investment on China’s CO
    • Authors: Xiongfeng Pan; Jing Zhang; Changyu Li; Rong Quan; Bin Li
      Abstract: The impact of foreign direct investment (FDI) on China’s CO \(_{2}\) emissions is an important index to evaluate the effect of foreign investment policy. This paper uses the monthly data of CO \(_{2}\) emissions and FDI from January 1997 to December 2013 to analyze the regime states, switching probability and regime correlation between FDI and CO \(_{2}\) emissions with the help of nonlinear Markov-switching vector error correction model (MS-VECM), The results indicate that the influence of FDI on CO \(_{2}\) emissions shows the two-regime dynamic characteristics, FDI has played a stimulating role in promoting China’s CO \(_{2}\) emissions during the period from January 1997 to October 2003, while played an inhibiting role during the period from November 2003 to December 2013. The duration of the inhibiting effect of FDI on CO \(_{2}\) emissions is longer, and the frequency is higher than that of the stimulating effect. Therefore, the overall influence of FDI on CO \(_{2}\) emissions during the period from January 1997 to December 2013 is inhibitive, which means FDI has contributed to CO \(_{2}\) emissions reduction. The innovation points of this study are mainly reflected in the following two aspects: first, nonlinear MS-VECM is introduced to dynamically study the relationship between FDI and CO \(_{2}\) emissions in contrast to prior studies that simply use static analysis method; second, the effect of China’s foreign investment policies on CO \(_{2}\) emissions is evaluated in each period according to the empirical results of MS-VECM.
      PubDate: 2017-10-19
      DOI: 10.1007/s10614-017-9745-x
  • The Income Gap Between Urban and Rural Residents in China: Since 1978
    • Authors: Xiao Ma; Feiran Wang; Jiandong Chen; Yang Zhang
      Abstract: Previous studies on the income gap between rural and urban areas have concentrated mainly on the flow factor in the income measure. This study investigates income inequality between rural and urban residents during 1978–2014 in China based on both urban–rural flow and the accumulated income Gini coefficient. In addition, the study compares the general changes in trends in these Gini coefficients in terms of urbanization and the ratio of urban-to-rural average income by decomposing the Gini ratios. The results show that the Gini coefficient of flow income has an inverted U-shaped pattern, while the Gini coefficient of accumulated income decreases significantly in most years, showing a decreasing trend since China’s economic reform and opening, with a time lag and fluctuation. Thus, either the accumulated or flow income Gini coefficients decline continuously as urbanization progresses, which could help governments craft fair policies to promote urbanization, narrowing the income gap between rural and urban areas.
      PubDate: 2017-10-19
      DOI: 10.1007/s10614-017-9759-4
  • A Numerical Algorithm for the Coupled PDEs Control Problem
    • Authors: Gonglin Yuan; Xiangrong Li
      Abstract: For the coupled PDE control problem, at time \(t_i\) with the ith point, the standard algorithm will first obtain the two space variables \((z_i,v_i)\) and then obtain the control variables \((\varsigma _i^{opt},\mu _i^{opt})\) from the given initial points \((\varsigma _i^0,\mu _i^0)\) . How many points i are determined by the facts of the case' We usually believe that the largest i defined by n is big because the small step size \(\tau =\frac{T-t_0}{n}\) will generate a good approximation, where T denotes the terminal time. Thus, the solution process is very tedious, and much CPU time is required. In this paper, we present a new method to overcome this drawback. This presented method, which fully utilizes the first-order conditions, simultaneously considers the two space variables \((z_i,v_i)\) and the control variables \((\varsigma _i^{opt},\mu _i^{opt})\) with \(t_i\) at i. The computational complexity of the new algorithm is \(O(N^3)\) , whereas that of the normal algorithm is \(O(N^3+N^3K)\) . The performance of the proposed algorithm is tested using an example.
      PubDate: 2017-10-10
      DOI: 10.1007/s10614-017-9757-6
  • Identification in Models with Discrete Variables
    • Authors: Lukáš Lafférs
      Abstract: This paper provides a novel, simple, and computationally tractable method for determining an identified set that can account for a broad set of economic models when the economic variables are discrete. Using this method, we show using a simple example how imperfect instruments affect the size of the identified set when the assumption of strict exogeneity is relaxed. This knowledge can be of great value, as it is interesting to know the extent to which the exogeneity assumption drives results, given it is often a matter of some controversy. Moreover, the flexibility obtained from our newly proposed method suggests that the determination of the identified set need no longer be application specific, with the analysis presenting a unifying framework that algorithmically approaches the question of identification.
      PubDate: 2017-10-05
      DOI: 10.1007/s10614-017-9758-5
School of Mathematical and Computer Sciences
Heriot-Watt University
Edinburgh, EH14 4AS, UK
Tel: +00 44 (0)131 4513762
Fax: +00 44 (0)131 4513327
Home (Search)
Subjects A-Z
Publishers A-Z
Your IP address:
About JournalTOCs
News (blog, publications)
JournalTOCs on Twitter   JournalTOCs on Facebook

JournalTOCs © 2009-2016