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Mathematical Modeling in Economics, Ecology, and the Environment

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A special issue of Mathematics (ISSN 2227-7390). This special issue belongs to the section "Dynamical Systems".

Deadline for manuscript submissions: closed (31 March 2023) | Viewed by 25027

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Special Issue Editors

Prof. Dr. Ionescu-Feleaga Liliana

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Guest Editor

Department of Accounting and Audit, Bucharest University of Economic Studies, 010374 Bucharest, Romania
Interests: international accounting; environmental accounting; education; sustainability accounting and finance

Prof. Dr. Monica Aureliana Petcu

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Guest Editor

Department of Financial and Economic Analysis and Valuation, Bucharest University of Economic Studies, 010374 Bucharest, Romania
Interests: financial and economic analysis; business valuation; diagnosis and strategies; ethics; sustainable development

Special Issue Information

Dear Colleagues,

The complexity of the socioeconomic evolution, circumscribed by the accumulation of irreversible irregularities, dissipative structures, and accelerated and often contradictory dynamics of the phenomena, is a challenge with an impact on the decision-making process. In this context, sustainable development involves homeoresis and resilience under economic, ecological, and environmental constraints. Mathematical modeling in the analysis of economic, ecological, and environmental phenomena, configured in various systemic/holonic structures, allows the consideration of multiple variables, identification of conditionalities and their intensity, of inflection areas, facilitating the adoption of appropriate decisions. On these coordinates, mathematical modeling offers multiple possibilities of analysis, constituting a useful tool at the micro- and macroeconomic level. This Special Issue welcomes researchers to reveal their insight and novel approaches to economic, ecological, and environmental analysis.

Prof. Dr. Ionescu-Feleaga Liliana
Prof. Dr. Monica Aureliana Petcu
Guest Editors

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. Mathematics is an international peer-reviewed open access semimonthly 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 2600 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

mathematical modeling
economics
ecology
environment
decision making
dynamical systems

Published Papers (10 papers)

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Research

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19 pages, 512 KiB

Open AccessArticle

Employing the Panel Quantile Regression Approach to Examine the Role of Natural Resources in Achieving Environmental Sustainability: Does Globalization Create Some Difference?

by Sadeq Damrah, Elma Satrovic, Mohamad Atyeh and Fekri Ali Shawtari

Mathematics 2022, 10(24), 4795; https://doi.org/10.3390/math10244795 - 16 Dec 2022

Cited by 18 | Viewed by 1651

Abstract

In the modern era of globalization, natural resources have become an important factor in shaping a sustainable future; however, the evidence on the role of globalization in reducing the adverse environmental impacts of natural resources is relatively scarce. The current study explores the dynamic interaction between energy consumption, economic development proxied through the human development index, population, natural resources, globalization, and ecological footprint under the core idea of the Stochastic Impacts by Regression on Population, Affluence and Technology (STIRPAT). This research applies panel data for the period from 1999 to 2018 in nine countries with the highest oil production (Brazil, Canada, China, Iran, Kuwait, Russia, Saudi Arabia, United Arab Emirates, and the United States). The results of this study are based on the panel Method of Moments Quantile Regression (MMQR). Empirical findings foundthat economic development, energy consumption, population, and natural resources contribute to increased environmental degradation, while globalization seems the main source of environmental sustainability. Concerning the indirect impacts of globalization, expanded interaction and integration among oil-producing countries helped to inhibit ecological footprint; nevertheless, natural resources complicate the design of a sustainable future by promoting environmental degradation. Additionally, a bidirectional causality relation was discovered between population, energy consumption, globalization, and ecological footprint; however, the panel Dumitrescu and Hurlin causality test results revealed a unidirectional causality association from economic development to ecological footprint and from natural resources to ecological footprint. Our findings shed new light on the criticality of globalization in achieving environmental sustainability by providing cleaner practices that will prevent rent-seeking. Full article

(This article belongs to the Special Issue Mathematical Modeling in Economics, Ecology, and the Environment)

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24 pages, 307 KiB

Open AccessArticle

The Impact of Digitalization on Happiness: A European Perspective

by Liliana Ionescu-Feleagă, Bogdan-Ștefan Ionescu and Oana Cristina Stoica

Mathematics 2022, 10(15), 2766; https://doi.org/10.3390/math10152766 - 04 Aug 2022

Cited by 3 | Viewed by 2603

Abstract

One of the most important goals of humanity has always been happiness. In our daily life, happiness is conditioned by different variables, such as relationships with certain groups of individuals, health, security values, expectations, etc. Over the years, technology, especially digitalization, has revolutionized the world and changed our lives. In this context, empirical research on digitalization has grown enormously during the last decade; however, studies on the relationship between digitalization and happiness remain limited. As such, the objective of the present paper is to present an empirical investigation on the relationship between digitalization and happiness in the European Union (EU) during the period 2019–2021, before and during the COVID-19 pandemic. In this context, the link between the Digital Economy and Society Index (DESI) and World Happiness Index (WHI) globally for all EU countries, at the level of each WHI variable and at the level of geographical groups in the EU was analyzed using correlations. While the DESI indicator acts as a basis for policymakers, governments, regional administrators and public officials to invest in areas of priority with an evidence-based approach, the WHI indicator can be an important tool for guiding public policy and measuring its effectiveness. The results show that there was a positive and significant relationship between the two indicators at the level of EU countries in all three years. The results also show that in the Western and Northern regions of the EU, the relationship between the two indicators was stronger compared to the other regions. Thus, our study offers supporting arguments for the digital transformation of happiness and provides alternate methodologies and perspectives on the interactions between digitalization and happiness. Moreover, it can help policymakers direct their attention to the importance of digitalization for people’s happiness. Full article

(This article belongs to the Special Issue Mathematical Modeling in Economics, Ecology, and the Environment)

15 pages, 310 KiB

Open AccessArticle

A Seasonally Competitive M-Prey and N-Predator Impulsive System Modeled by General Functional Response for Integrated Pest Management

by Juan Liu, Jie Hu, Peter Yuen and Fuzhong Li

Mathematics 2022, 10(15), 2687; https://doi.org/10.3390/math10152687 - 29 Jul 2022

Viewed by 1272

Abstract

Considering the harvesting of prey and stocking of predator impulsively at different fixed moments of time, this paper studies the dynamics of a seasonally competitive m-prey and n-predator impulsive system, which is focused more specifically in four areas as follows: (i) we emphasize the dynamics of m-prey and n-predator in the ecosystem with a view to understanding how the present work may be able to apply to real environment applications; (ii) this work uses the general functional response instead of using specific impulse responses; (iii) considering the intra- and inter-competitions between species and (iv) the system is subjected to the influences of seasonal factors which imposes direct impacts to the delicate balance of biological systems. By using the comparison techniques and the Floquet theorems, the sufficient conditions for the ecosystem permanence and the asymptotic stabilities of the global and local prey-free periodic solutions have been subsequently obtained. This work is concluded with an in-depth discussion of the biological significance of the results obtained in this research. The obtained results can provide theoretical support for protecting endangered species and to help maintain the ecological balance, especially when it is applied to practical pest management, such as rodent controls in the farmland. Full article

(This article belongs to the Special Issue Mathematical Modeling in Economics, Ecology, and the Environment)

29 pages, 4608 KiB

Open AccessArticle

The Causality Relationship between Trade and Environment in G7 Countries: Evidence from Dynamic Symmetric and Asymmetric Bootstrap Panel Causality Tests

by Veli Yılancı, İbrahim Çütcü and Serkan Araci

Mathematics 2022, 10(15), 2553; https://doi.org/10.3390/math10152553 - 22 Jul 2022

Cited by 9 | Viewed by 1642

Abstract

In this paper, we test the dynamic symmetric and asymmetric causality relationship between the ecological footprint and trade openness in G7 countries by suggesting a new bootstrap panel causality test based on seemingly unrelated regressions. We analyzed the time-varying behavior of the symmetric and asymmetric panel causality relationship test to reveal the instabilities in the causality relationships. The obtained results suggest a relationship between the trade openness and ecological footprint in some years of the analysis period and between the negative and positive shocks. Full article

(This article belongs to the Special Issue Mathematical Modeling in Economics, Ecology, and the Environment)

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18 pages, 941 KiB

Open AccessArticle

Logit Model for Estimating Non-Profit Organizations’ Financial Status as a Part of Non-Profit Financial Management

by Jaroslav Mazanec, Viera Bartosova and Patrik Bohm

Mathematics 2022, 10(13), 2162; https://doi.org/10.3390/math10132162 - 21 Jun 2022

Cited by 2 | Viewed by 1756

Abstract

The non-profit sector plays an important role in the American and European continents, as non-profit organizations support the development of civil society and help people in need. However, most non-profit organizations (NPO) are financially dependent on various donors from the private sector. Nowadays, non-profit organizations focus on improving their non-profit financial management. This research aims to assess the financial status of Slovak non-profit organizations, using binary logistic regression. The initial sample includes 351 Slovak NPOs, which are divided into a training and test sub-sample. The data were obtained from Amadeus, FinStat, the Ministry of Finance of the Slovak Republic, and the Ministry of Interior of the Slovak Republic. The logit model shows that the significant variables are equity ratio, debt ratio, operating margin, and type of NPO using the statistical–analytical program IBM SPSS 25. The model also implies that non-profit organizations should focus on the revenue structure and revenues from the sale of products. The prediction model correctly classifies 97.03% of NPOs in the training sub-sample and 96.61% of NPOs in the test sub-sample. Moreover, more than 70% of vulnerable NPOs are correctly classified. Full article

(This article belongs to the Special Issue Mathematical Modeling in Economics, Ecology, and the Environment)

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28 pages, 532 KiB

Open AccessArticle

Regression Analysis of Macroeconomic Conditions and Capital Structures of Publicly Listed British Firms

by Elmina Homapour, Larry Su, Fabio Caraffini and Francisco Chiclana

Mathematics 2022, 10(7), 1119; https://doi.org/10.3390/math10071119 - 31 Mar 2022

Cited by 9 | Viewed by 2987

Abstract

Using an unbalanced panel of 922 non-financial companies publicly listed on the London Stock Exchange during January 1995 and September 2014, this article tests the predictions of Pecking Order Theory (POT), Trade-off Theory (TOT) and Market Timing Theory (MTT) of capital structure through the lens of macroeconomic conditions. We find strong evidence that leverage is negatively associated with the business cycle but positively related to stock market performance, which is consistent with POT. In addition, leverage is negatively related to financial market risk, as predicted by TOT. Furthermore, leverage is positively related to credit supply, which is in line with both the POT and TOT. Finally, there is no evidence in support of MTT. The above results are robust with respect to the measurement of macroeconomic variables, the choice of estimation methods and the inclusion of a dummy variable to account for the effect of the 2008 financial crisis. An important implication is that, because firms tend to be highly levered during business cycle downturns, expansionary fiscal and monetary policies to encourage more business borrowings may not be effective after all. Full article

(This article belongs to the Special Issue Mathematical Modeling in Economics, Ecology, and the Environment)

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19 pages, 444 KiB

Open AccessArticle

The Impact of Working Capital Management on Corporate Performance in Small–Medium Enterprises in the Visegrad Group

by Jaroslav Mazanec

Mathematics 2022, 10(6), 951; https://doi.org/10.3390/math10060951 - 16 Mar 2022

Cited by 14 | Viewed by 6632

Abstract

Working capital management is a crucial pillar in corporate finance. The performance of transport companies can be improved by efficient working capital management through cash management, inventory management, and receivables management. This approach aims at sustainable growth of transport companies in international competition. The main aim of the article is to identify statistically significant variables from working capital management describing liquidity and activity, with a focus on corporate performance in the Visegrad Group countries. We designed models for small and medium-sized enterprises for each member state of the Visegrad Group and a universal model for the entire region. We applied a comprehensive model design process using multi-criteria linear regression, mainly on indicators from the Amadea financial statements in IBM SPSS 25. We described the overall sample using descriptive statistics, identify outliers, identify multicollinearity, and design models, and compared with other models describing return on assets. The added value is the explanation of the impact of working capital management on the performance of small and medium-sized transport companies in the Visegrad Group, which make up most companies in this sector. These findings help identify key aspects of working capital management that contribute to business performance. The paper presents a detailed output for future research into the role of working capital in corporate management. Full article

(This article belongs to the Special Issue Mathematical Modeling in Economics, Ecology, and the Environment)

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16 pages, 2956 KiB

Open AccessArticle

Dynamic Modeling and Simulation of Urban Domestic Water Supply Inputs Based on VES Production Function

by Kebai Li and Zhilei Ding

Mathematics 2022, 10(1), 89; https://doi.org/10.3390/math10010089 - 27 Dec 2021

Cited by 1 | Viewed by 1909

Abstract

The Gompertz growth curve is used to describe the urban water population, the linear function is used to represent the per capita disposable income, and the domestic water demand is described combined with the factors of population, income, and the water-saving consciousness. The VES production function is used to describe the production function of the domestic water supply. Combined with system dynamics, the supply and demand management model of urban domestic water in Jiangsu province, China, is developed. The process of water supply investment and labor input in the urban domestic water system is studied with two depreciation methods: the straight-line depreciation method and the sum of years digits method. In the case that the water consumption population is expected to decline, four water demand scenarios composed of different per capita disposable income and the growth rate of water-saving consciousness are investigated. Investment and labor input are taken as control variables to conduct water supply and demand simulations for the four scenarios. The results show that the control schemes in all four scenarios reach a balance between water supply and demand. Moreover, the investment of the sum of years digits method is larger than that of the straight-line depreciation method in 2005–2019 but less than that of the straight-line depreciation method in 2020–2034. The sum of years digits method has the characteristics of more depreciation in the early stage and less depreciation in the later stage, which is conducive to timely compensation for the large loss of fixed assets in the early stage. Full article

(This article belongs to the Special Issue Mathematical Modeling in Economics, Ecology, and the Environment)

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Review

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30 pages, 14674 KiB

Open AccessReview

Price, Complexity, and Mathematical Model

by Na Fu, Liyan Geng, Junhai Ma and Xue Ding

Mathematics 2023, 11(13), 2883; https://doi.org/10.3390/math11132883 - 27 Jun 2023

Viewed by 1215

Abstract

The whole world has entered the era of the Vuca. Some traditional methods of problem analysis begin to fail. Complexity science is needed to study and solve problems from the perspective of complex systems. As a complex system full of volatility and uncertainty, price fluctuations have attracted wide attention from researchers. Therefore, through a literature review, this paper analyzes the research on complex theories on price prediction. The following conclusions are drawn: (1) The price forecast receives widespread attention year by year, and the number of published articles also shows a rapid rising trend. (2) The hybrid model can achieve higher prediction accuracy than the single model. (3) The complexity of models is increasing. In the future, the more complex methods will be applied to price forecast, including AI technologies such as LLM. (4) Crude-oil prices and stock prices will continue to be the focus of research, with carbon prices, gold prices, Bitcoin, and others becoming new research hotspots. The innovation of this research mainly includes the following three aspects: (1) The whole analysis of all the articles on price prediction using mathematical models in the past 10 years rather than the analysis of a single field such as oil price or stock price. (2) Classify the research methods of price forecasting in different fields, and found the common problems of price forecasting in different fields (including data processing methods and model selection, etc.), which provide references for different researchers to select price forecasting models. (3) Use VOSviewer to analyze the hot words appearing in recent years according to the timeline, find the research trend, and provide references for researchers to choose the future research direction. Full article

(This article belongs to the Special Issue Mathematical Modeling in Economics, Ecology, and the Environment)

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30 pages, 8161 KiB

Open AccessReview

A Decade for the Mathematics: Bibliometric Analysis of Mathematical Modeling in Economics, Ecology, and Environment

by Monica Aureliana Petcu, Liliana Ionescu-Feleaga, Bogdan-Ștefan Ionescu and Dumitru-Florin Moise

Mathematics 2023, 11(2), 365; https://doi.org/10.3390/math11020365 - 10 Jan 2023

Cited by 4 | Viewed by 1990

Abstract

Our study commemorates this event by presenting a retrospective of the publications related to the use of mathematical tools for the analysis of economic, ecological, and environmental phenomena. We analyzed 1257 scientific publications using bibliometric techniques to examine the most productive and influential authors and their contributions in the economic, ecological, and environmental fields. Co-authorship among the top authors and countries, co-occurrence of the keywords, bibliographic coupling of the documents and authors, and author co-citation were analyzed by applying network analysis techniques using VOSviewer software, identifying the intellectual structure of the research and the collaborative networks in the fields. The results show that mathematics has grown impressively in terms of publication and citation. The contributions come from all over the world, but the majority are from the People’s Republic of China and Spain. The results also show themes and trends in the economic, environmental, and ecological fields and a predominant use of mathematical tools in optimization processes in order to rigorously substantiate the decisions of investors and policymakers. Thus, our study offers support for any researcher to understand the current state of the art and develop a comprehensive understanding of journal publications. Full article

(This article belongs to the Special Issue Mathematical Modeling in Economics, Ecology, and the Environment)

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