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This paper attempts to analysis the credit risk at the angle of industrial and macroeconomic factor using grey incidence analysis method.

Credit asset quality problem is one of the obstacles limiting the further development of commercial banks; the research on credit risk becomes an important part of the implementation of a commercial bank's risk management. Different industries may have different effects on the credit risk of commercial bank. This paper proposes finding out the different incidences between industries and credit risk, as well as macroeconomics. Incidence identification method is established to investigate whether the industry and macroeconomic factor could affect an impaired loan ratio of a bank using the grey incidence analysis method.

The results indicate that the impaired loan ratio differs with diverse industry's influence and the macroeconomics also affect it. From the angle of the industry, the result can also determine the risk deviation scope in the grey risk control process which offers new content and ideas within the grey risk control.

Under the guidance of the principle of “differential treatment, differential control”, this research will help to strengthen the implementation of differentiated credit policy, focus on guiding and promoting the optimization of credit structure, so as to maintain a reasonable size of credit facilities and build a steady currency credit system.

The paper succeeds in finding the top five influent industries compared with others by using one of the newest developed theories: grey systems theory.

Expectations play a crucial role in finance, macroeconomics, monetary economics, and fiscal policy. In the last decade a rapidly increasing number of laboratory experiments have been performed to study individual expectation formation, the interactions of individual forecasting rules, and the aggregate macro behavior they co-create. The aim of this article is to provide a comprehensive literature survey on laboratory experiments on expectations in macroeconomics and finance. In particular, we discuss the extent to which expectations are rational or may be described by simple forecasting heuristics, at the individual as well as the aggregate level.

Since the first Volume of this Bibliography there has been an explosion of literature in all the main areas of business. The researcher and librarian have to be able to uncover specific articles devoted to certain topics. This Bibliography is designed to help. Volume III, in addition to the annotated list of articles as the two previous volumes, contains further features to help the reader. Each entry within has been indexed according to the Fifth Edition of the SCIMP/SCAMP Thesaurus and thus provides a full subject index to facilitate rapid information retrieval. Each article has its own unique number and this is used in both the subject and author index. The first Volume of the Bibliography covered seven journals published by MCB University Press. This Volume now indexes 25 journals, indicating the greater depth, coverage and expansion of the subject areas concerned.

The purpose of this paper is to investigate changes in the commercial real estate market dynamics as a function of and conditional to the shifts in market state-space environment that can influence agent responses.

The analytical design uses a comparative computational experiment to address the performance of property assets in the current market based on comparison with prior structural patterns. The latent variables developed across market sectors are used to test agent behavior contingent on the perspectives of capital asset pricing conditionals (CAPM) and a behavioral momentum/herd construct. The state-space momentum analysis can assist the comparative analysis of current levels and shifts in property asset performance given the issues that have arisen with the financial crisis of 2007-2009.

An analytic approach is employed framed by a situation-dependent model. This frame considers risk profiles characterizing the perspectives and preferences guiding a delineated market state. This perspective is concerned with the possibility of shifts in market momentum and representativeness conditioning investor expectations. It is observed that the current market (post-crisis) has changed significantly from the prior operations (despite the diversity observed in prior market states). The dynamics of initial findings required an additional test anchored to the performance of the general capital market and the real economy across time. This context supports the use of a modified CAPM model allowing the consideration of opportunity cost in a space-time dynamic anchored with the consideration of equity, debt, riskless asset and liquidity options as they varied for the representative agents operating per market state.

This paper integrates neoclassical and behavioral economic constructs. Combines asset pricing with prospect theory and allows the calculation of endogenous time-preferences, risk attitudes and formulation and testing of hyperbolic discounting functions.

The research shows that market structure and agent behavior since the financial crisis has changed from the investment and valuation perspectives operating as observed and measured from 1970 up to 2007. In contradiction to the long-term findings of Reinhart and Rogoff (2008), but in compliance with common perspectives and decision heuristics often employed by investors, this time things have changed! Discounting and expected rates of return are dynamic and are hyperbolic and not constant. Returns and investment for property assets are situational (market state-space specific) and offer a distinct asset class, not appropriately estimated by many of the traditional financial models.

Assist in supporting insights to measure in errors and equations that result in inefficient resource allocation and beta discounting that supports the financial crisis created by assets subject to long-term decision needs (delta function).

The paper offers a combination and comparison of neoclassic asset pricing using a modified CAPM (two-pass) approach within the structural frame of Kahneman and Tversky’s (1979) prospect theory. This technique allows the consideration of the effects of present bias, beta-delta functions and the operation of the Allais Paradox in market states that are characterized by gains and losses and thus risk aversion and risk seeking behavior. This ability for differentiation allows for the development of endogenous time-preferences and hyperbolic discounting factors characteristic of commercial property investment.

In the academic field of business management, several potential theories were established during the last decades to explain companies' decisions, organizational behavior, consumer patterns, and internationalization, among others. As a result, businesses and scholars were able to analyze and decide based on theoretical approaches to explain the current conditions of the market. Secondary research was conducted to collect more than 36 management theories. This chapter aims to develop the most famous theories related to business applied in the international field. The novelty of this chapter relies on the compilation of recognized previous research studies from the academic literature and evidence in international business.

The purpose of this paper is to contribute to a discourse analytical understanding of the political economy. The term “crisis” is an important label in recent discussion in political economy. Yet the genuine discursive dimension of “the crisis” and the multiple linguistic layers of the crisis discourse remains an open issue.

Realist perspectives usually believe in an external reality of crises independent of the language construction; in contrast, constructivist perspectives argue that a crisis is always the result of a socio-linguistic construction process. This contribution follows a critical-constructivist perspective, thereby taking into account powerful discursive actors which are able to “declare” a state in the world as a “crisis”.

From a discourse analytical point of view, this paper examines the rules and logics of crisis management policy, arguing that a new politico-academic elite has appeared which is beyond the classical distinction between “Keynesians” and “neo-liberals”. By taking a position in the discourse of the recent debate on financial regulation, these new elite might be able to manage the crisis for a particular time, as they are constructed as “moderating actors” through academic and political discourses.

From a practical point of view, this analysis cannot offer economic solutions; from an analytical viewpoint, it will not give insights into discursive contexts.

This analysis helps to understand current debates on economic policy and to improve the communicative efficiency of the participants.

This paper combines a discourse analysis with a governmentality perspective and applies this analytical tool onto a political and economic topic currently prevailing in the global political economy.

The present study aimed to examine the relationship between information and communication technologies (ICT) diffusion, financial development and economic growth in the panel of developing countries for 2005–2019.

The study employed the principal component analysis (PCA) to extract the index of ICT diffusion. First-generation panel unit root tests such as Levine Lin Chu (LLC), Im Pesaran Shin (IPS), Augmented Dickey-Fuller (ADF) and Phillips and Perron (PP) were employed to check the stationarity of the variables. Pedroni and Kao co-integration techniques were used to examine the existence of the long-run relationship, and co-integration coefficients were estimated using FMOLS and dynamic ordinary least squares (DOLS). The panel Granger causality approach examined the short-run and long-run causality.

The results confirmed that ICT diffusion, financial development and trade openness accelerate growth, whereas inflation dampens economic growth. Further, the causality test showed bidirectional causality between ICT growth and financial development growth but a unidirectional causality from financial development to ICT diffusion in developing countries.

The study recommends synchronizing public and private sector investment for a synergistic effect on ICT infrastructure and adequate investment in the financial sector to increase the growth rate in developing countries. Economic policies should be adopted toward incentives and subsidies to ensure affordable ICT services for disadvantaged communities. Also, training programs focussing on enhancing digital literacy to enable all segments of the population to use digital platforms for financial services are recommended.

Certain elements of Hayek’s work are prominent precursors to the modern field of complex adaptive systems, including his ideas on spontaneous order, his focus on market processes, his contrast between designing and gardening, and his own framing of complex systems. Conceptually, he was well ahead of his time, prescient in his formulation of novel ways to think about economies and societies. Technically, the fact that he did not mathematically formalize most of the notions he developed makes his insights hard to incorporate unambiguously into models. However, because so much of his work is divorced from the simplistic models proffered by early mathematical economics, it stands as fertile ground for complex systems researchers today. I suggest that Austrian economists can create a progressive research program by building models of these Hayekian ideas, and thereby gain traction within the economics profession. Instead of mathematical models the suite of techniques and tools known as agent-based computing seems particularly well-suited to addressing traditional Austrian topics like money, business cycles, coordination, market processes, and so on, while staying faithful to the methodological individualism and bottom-up perspective that underpin the entire school of thought.