Application of Novel Research Methods

Camelia Oprean-Stan (ed.)

Application of Novel Research Methods The Study of Current Economic Phenomena

Berlin - Bruxelles - Chennai - Lausanne - New York - Oxford

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ISBN 978-3-631-90052-9 (Print)

E-ISBN 978-3-631-91677-3 (E-PDF)

E-ISBN 978-3-631-91678-0 (EPUB)

DOI 10.3726/b21691

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About the editor

Camelia Oprean-Stan teaches and researches in the areas of finance in the Department of Finance and Accounting, Lucian Blaga University of Sibiu. Her research interests also include capital markets, financial management, sustainable finance.

About the book

The aim of this edited collection is to bridge the gap between advanced research methods and models and the main fields of economic research by presenting a collection of articles demonstrating the applicability of new research methods to a wide range of current economic topics, including, but not limited to, mathematical modeling of financial market behavior, modeling in corporate finance and management and modeling of macroeconomic issues. The book is a collection of 12 theoretical and empirical research papers that present novel results from modeling current economic phenomena using a logical, behavioral, institutional and quantitative approach, as well as provide researchers with useful and practical knowledge in the examination of economic phenomena.

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Foreword

Prof. Ph.D. Camelia Oprean-Stan

Each science creates and employs its own set of tools, methods, and techniques for comprehending reality. Economic research methods are means of studying specific phenomena that are required to determine the economic behavior of society and individual market agents. Economic models assist in the simplified description of reality; they are an abstract generalization of the interrelationships between economic variables.

Phenomena and processes must be studied in a state of constant development and change. This cannot be accomplished without employing a systematic approach to phenomenon analysis. Techniques and tools used in scientific research can be categorized as follows: physical modeling (such as a model), structural modeling (such as a model-analogy), and functional modeling (such as a system of equations); deterministic, probabilistic, fuzzy, and chaotic simulation; falsification (theorem testing). Economic research primarily employs the following approaches to understanding economic phenomena and processes: dialectical method, scientific abstraction, analysis and synthesis, induction and deduction, historical and logical methods, economic experimentation, economic modeling, and so on.

The purpose of this edited collection is to bridge the gap between advanced research methods and models and the main fields of the economic research by providing a collection of articles illustrating the applicability of new research methods to a wide range of current economic topics, such as, but not limited to, mathematical modeling of the financial market behavior: behavioral finance models, news sentiment analysis, options pricing and time series analysis; modeling in corporate finance and management: bankruptcy and failure prediction, decision-making problems and development of co-created products; modeling of macroeconomic issues: social justice, sustainable GDP, natural gas consumption and economic growth, welfare and artificial intelligence. The research papers present novel results from modeling current economic phenomena using a logical, behavioral, institutional, and quantitative approach.

The book emphasizes the key methodologies and their accessible empirical application while focusing on the most crucial problems, models, and techniques for research in all areas of economics. The areas of application have been carefully chosen so that a wide range of methodological approaches are covered, and all of the techniques described are used to address actual problems rather than being presented for their own sake. Each chapter is largely self-contained and contain the essential references for each subject and serve as a reliable manual for further reading.

This book includes empirical and theoretical original papers written by researchers from different countries and universities. All papers have been peer reviewed. Because of its applied profile of research book, based on a series of empirical analyzes, the book is meant to serve as a resource for doctoral candidates, academics, and researchers who are interested in investigating new methodologies in a variety of economic fields, including corporate finance, financial markets, macroeconomics, microeconomics, management, etc. The book will also be helpful for economics researchers and advanced Masters-level students who are writing dissertations, even for students interested in exploring new ideas and paradigms in the functioning of the economic systems, particularly those preparing for an academic career.