Self-Organization, Resilience and Robustness of Complex Systems Through an Application to Financial Market from an Agent-Based Approach

Lucas, Iris; Cotsaftis, Michel; Bertelle, Cyrille

doi:10.1142/s021812741850044x

Cited by 9 publications

(4 citation statements)

References 31 publications

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“…, Schlichtmann (2016), Weide-Zaage et al (2018), Fryer et al (1987), Zhu and Basar (2015), Lucas et al (2018), Okoh and Haugen (2015), Wybo (2008), Balzari and Balzari (2017), Huizar et al (2018), Corman et al (2018), Faber et al (2017), Dias (2015), Adenso-Díaz et al (2017), Spiegler et al (2012), Ivanov et al (2014), Mens et al (2015), Faber et al (2018), Wang et al (2014), Pien et al (2015), Jenelius and Cats (2015), Calvert and Snelder (2018), Wang et al (2017b), Feng et al (2017), Artsiomchyk and Zhivitskaya (2013), Sun et al (2017), Klibi et al (2010), Ivanov and Sokolov (2013), Huang et al (2017), Wang et al (2017a), Kim et al (2017), Barabadi and Ayele (2018) Abimbola and Topp (2018), Mumby et al (2014), Dragicevic (2016), Krupa et al (2014), Anderies et al (2013), Anderies and Hegmon (2011), Fleischman et al (2010), Domptail et al (2013, Witten (2014), Nair and Howlett (2016), …”

Section: Acknowledgementsmentioning

confidence: 99%

Robustness, resilience: typology of definitions through a multidisciplinary structured analysis of the literature

Clément

Wioland

Govaere

et al. 2021

EJIE

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The concepts of robustness and resilience are used with increasing frequency from different sectors. The literature review reveals several meanings for each of these terms due probably to specific use in each of the sectors and a progressive adjustment of the definitions across the time. The aims of this article are to identify these definitions and the main similarities and difference between the concepts of resilience and robustness and to propose a classification of them in order to avoid confusions, bad meaning and to provide a better understanding of the subtleties under these concepts. Based on a structured analysis of the literature published in journals of different sectors this paper conceptualises and comprehensively presents a systematic review of the recent literature on robustness and resilience definitions. Decision makers and researchers can benefit from our survey since it introduces a structured analysis and recommendations as to which definitions can be used.

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Section: Acknowledgementsmentioning

confidence: 99%

Robustness, resilience: typology of definitions through a multidisciplinary structured analysis of the literature

Clément

Wioland

Govaere

et al. 2021

EJIE

View full text Add to dashboard Cite

show abstract

“…Policy subsystems are often driven by a stable cohort of legacy politicians, regulators, and interest groups that operate under the assumption that incremental policy making is driven by "dynamics [that] are endogenous to the subsystems" [34]. Yet, agent-based financial market modeling demonstrates a great deal of exogeneity in not only the creation of financial crises, but also the market and regulatory responses thereafter [35]. As was previously outlined, endogenous DER processes may exist in parallel with EER processes that may be shaped by both exogenous (e.g., external shocks) and endogenous (e.g., agent effects and industrial structure) phenomena.…”

Section: Dual Mandates In Post-crisis Policiesmentioning

confidence: 99%

Exploring the Convergence of Resilience Processes and Sustainable Outcomes in Post-COVID, Post-Glasgow Economies

et al. 2021

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Resilience and sustainability have each offered a path forward for post-COVID economic recovery and a post-Glasgow global financial order. Yet, the relationships between these two concepts are largely unexplored in economic policy and investment strategies. In light of emerging systemic risks and global demands for more resolute investments in resilience and sustainability, this perspective article took the position that policymakers must begin to draw greater conceptual, empirical, and practical linkages between sustainability and resilience. This perspective article provided a simplified framework for understanding the positively reinforcing, negatively conflicting, and neutral relationships between different types of resilience and sustainability consistent with two propositions. The Reinforcement Proposition argues (i) that various resilience processes may drive sustainable outcomes, and/or (ii) that an allocation of sustainable resources may reinforce resilience processes, as well as the transformative adaptation of markets. Conversely, the Conflict Proposition argues (i) that certain resilience processes may perpetuate stability features that may thwart an economic transition toward sustainability, and/or (ii) that certain sustainability outcomes associated with reorganized economic structures and relationships may undermine resources for resilience. This framework provides policymakers with an opportunity to evaluate the convergent and conflicting trade-offs of resilience processes and sustainable outcomes.

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“…Changes in the organization should be in line with the new ideas of the market for new and practical opportunities and help the organization in critical financial situations (Luciano and Wihlborg, 2018). Organizational factors will help financial management systems to have comparative predictive power and take gained, action-oriented and accurate decisions (Lucas et al , 2018). Such things as market observation, customer satisfaction, timely and adequate budget injections, capital management and implementation management in the organization will contribute to better financial management systems (Hou, 2019).…”

Section: Introductionmentioning

confidence: 99%

Do governmental, technological and organizational factors influence the performance of financial management systems?

Chen

Hao

2021

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PurposeThe critical issue in financial management is investigating the role of government in an organization's economy. Governmental facilities, loans and long-term financial plans may affect the performance of financial management systems. Financial management systems may be affected by various other factors, such as organizational, technological and governmental factors. Studying and investigating the influence of organizational, technological and governmental factors on financial management systems' performance is the primary goal of this paper.Design/methodology/approachFinancial management has always been affected by the increasing role of technology. Also, the use of financial software, the entry of computer-based computing and math planning are examples of technology entry to financial management that has led to changes in recent years. Data were collected from the insurance offices through a questionnaire. Distributed questionnaires were conducted on a Likert scale. The causal model has been appraised by the structural equation modeling (SEM) method that has been utilized to assess the validity and reliability of the model. The software has been used to evaluate the questionnaire, and the hypotheses of the research are evaluated using SPSS 22 and SMART-PLS software.FindingsThe results showed that organizational, technological and governmental factors directly affect financial management systems' performance. For this reason, the role of organizational, technological and governmental factors on the success of financial management systems in insurance companies must be considered for decision-making in the future.Research limitations/implicationsThis study includes some restrictions required to be examined in assessing the outcomes. First, sample research was selected from the managers of the insurance offices in Harbin, China. So, the sample size is not big, and the generalization of the results is limited. Second, the current research might have ignored other variables, which affect the performance of financial management systems. Future researchers intend to investigate the impact of investments and projects on financial management systems' performance as a proposal. Nevertheless, the subsequent investigation can assess vital factors like investments and plans on financial management systems' performance.Practical implicationsThe research also includes insurance companies and all departments and individuals associated with financial management systems somehow.Originality/valueIn the current article, the performance of financial management systems is highlighted, and the method to resolve the issue has been utilized as an experimental example. This article's introduced model supplies a comprehensive framework to investigate the impact of organizational, technological and governmental factors on financial management systems' performance.

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Self-Organization, Resilience and Robustness of Complex Systems Through an Application to Financial Market from an Agent-Based Approach

Cited by 9 publications

References 31 publications

Robustness, resilience: typology of definitions through a multidisciplinary structured analysis of the literature

Robustness, resilience: typology of definitions through a multidisciplinary structured analysis of the literature

Exploring the Convergence of Resilience Processes and Sustainable Outcomes in Post-COVID, Post-Glasgow Economies

Do governmental, technological and organizational factors influence the performance of financial management systems?

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