How different types of financial service providers support small- and mediumenterprises under the impact of COVID-19 pandemic: From the perspective of expectancy theory

The 2019 novel coronavirus disease(COVID-19)pandemic has significantly impacted several aspects of the society and the economy.A problem that needs prompt attention in this situation is the increasing difficulties faced by small-and mediumsized enterprises(SMEs)in raising capital,which has aroused great concern from multiple stakeholders such as public administrations and regulators.As the major supply of capital,financial service providers(FSPs)play a critical role in financing SMEs.However,how FSPs deal with SME financing during shocks has not yet been fully researched.Accordingly,in this study,a theoretical framework based on expectancy theory is proposed to explore the expected strategic adjustments of FSPs in financing SMEs.Specifically,this study investigates 272 FSPs in China on their expectancy and attitude on financing to SMEs during the COVID-19 pandemic.Furthermore,this study has divided FSPs into three categories:commercial banks,non-bank financial institutions,and credit-enhanced FSPs.Differences among these categories are compared and analyzed.

The Analysis of Convergence for the 3<i>X</i>+ 1 Problem and Crandall Conjecture for the a<i>X</i>+ 1 Problem

The 3X + 1 problem (Collatz conjecture) has been proposed for many years, however no major breakthrough has been made so far. As we know, the Crandall conjecture is a well-known generalization of the 3X + 1 problem. It is worth noting that, both conjectures are infamous for their simplicity in stating but intractability in solving. In this paper, I aim to provide a clear explanation about the reason why these two problems are difficult to handle and have very different characteristics on convergence of the series via creatively applying the probability theory and global expectancy value E(n) of energy contraction index. The corresponding convergence analysis explicitly shows that a = 3 leads to a difficult problem, while a > 3 leads to a divergent series. To the best of my knowledge, this is the first work to point out the difference between these cases. The corresponding results not only propose a new angle to analyze the 3X + 1 problem, but also shed some light on the future research.

Using behavioural economics to understand tax compliance

‘Behavioural economics’,or the application of methods and evidence from other social sciences to economics,has increased greatly in significance and use in the last two decades.In this paper,we discuss the basic elements of behavioural economics.We then assess the applications of behavioural economics to the analysis of tax compliance.Our central conclusion is that many,perhaps most,of the recent insights on what motivates tax compliance have flowed directly from behavioural economics.We conclude with suggestions on–and predictions of–directions in which future applications should prove useful.

A hierarchical analytical model for performance management of integrated logistics

In this paper,a holistic hierarchical analytical model is proposed to assess the performance of enablers in an integrated logistics system.Due to the ambiguous and complex environment,various refinements are needed to assess enablers and prioritize for the criteria such as economic,operational,and environment.The proposed hierarchical model is developed by a systematic approach that includes fuzzy analytical hierarchy process(FAHP),triangular fuzzy numbers(TFN),an evidential reasoning algorithm(ERA),and expected utility theory(EUT).The FAHP is used to analyze and obtain the weights of the criteria by considering the expert’s opinions.ERA is used to synthesize the enablers based on the selected criteria.These enablers are represented using subjective assessment along with a set of evaluation grades for a qualitative attribute.EUT helps in obtaining crisp values of enablers for their performance estimation.With these set of methodologies,a hierarchical model is proposed that prevent low flexibility and inadequate appropriateness of the proposed model.Further,the model helps in scenario generation for the logistics professionals who are facing various problems in integrating logistics and incorporating sustainability due to lack of appropriate methodologies and evaluation techniques.Finally,sensitivity analysis is used for overall model validation.