On fractional discrete financial system:Bifurcation,chaos,and control

The dynamic analysis of financial systems is a developing field that combines mathematics and economics to understand and explain fluctuations in financial markets.This paper introduces a new three-dimensional(3D)fractional financial map and we dissect its nonlinear dynamics system under commensurate and incommensurate orders.As such,we evaluate when the equilibrium points are stable or unstable at various fractional orders.We use many numerical methods,phase plots in 2D and 3D projections,bifurcation diagrams and the maximum Lyapunov exponent.These techniques reveal that financial maps exhibit chaotic attractor behavior.This study is grounded on the Caputo-like discrete operator,which is specifically influenced by the variance of the commensurate and incommensurate orders.Furthermore,we confirm the presence and measure the complexity of chaos in financial maps by the 0-1 test and the approximate entropy algorithm.Additionally,we offer nonlinear-type controllers to stabilize the fractional financial map.The numerical results of this study are obtained using MATLAB.

Unleashing the Power of Multi-Agent Reinforcement Learning for Algorithmic Trading in the Digital Financial Frontier and Enterprise Information Systems

In the rapidly evolving landscape of today’s digital economy,Financial Technology(Fintech)emerges as a trans-formative force,propelled by the dynamic synergy between Artificial Intelligence(AI)and Algorithmic Trading.Our in-depth investigation delves into the intricacies of merging Multi-Agent Reinforcement Learning(MARL)and Explainable AI(XAI)within Fintech,aiming to refine Algorithmic Trading strategies.Through meticulous examination,we uncover the nuanced interactions of AI-driven agents as they collaborate and compete within the financial realm,employing sophisticated deep learning techniques to enhance the clarity and adaptability of trading decisions.These AI-infused Fintech platforms harness collective intelligence to unearth trends,mitigate risks,and provide tailored financial guidance,fostering benefits for individuals and enterprises navigating the digital landscape.Our research holds the potential to revolutionize finance,opening doors to fresh avenues for investment and asset management in the digital age.Additionally,our statistical evaluation yields encouraging results,with metrics such as Accuracy=0.85,Precision=0.88,and F1 Score=0.86,reaffirming the efficacy of our approach within Fintech and emphasizing its reliability and innovative prowess.

Return to work in young and middle-aged colorectal cancer survivors:Factors influencing self-efficacy,fear,resilience,and financial toxicity

BACKGROUND Return to work(RTW)serves as an indication for young and middle-aged colorectal cancer(CRC)survivors to resume their normal social lives.However,these survivors encounter significant challenges during their RTW process.Hence,scientific research is necessary to explore the barriers and facilitating factors of returning to work for young and middle-aged CRC survivors.AIM To examine the current RTW status among young and middle-aged CRC survivors and to analyze the impact of RTW self-efficacy(RTW-SE),fear of progression(FoP),eHealth literacy(eHL),family resilience(FR),and financial toxicity(FT)on their RTW outcomes.METHODS A cross-sectional investigation was adopted in this study.From September 2022 to February 2023,a total of 209 participants were recruited through a convenience sampling method from the gastrointestinal surgery department of a class A tertiary hospital in Chongqing.The investigation utilized a general information questionnaire alongside scales assessing RTW-SE,FoP,eHL,FR,and FT.To analyze the factors that influence RTW outcomes among young and middle-aged CRC survivors,Cox regression modeling and Kaplan-Meier survival analysis were used.RESULTS A total of 43.54%of the participants successfully returned to work,with an average RTW time of 100 days.Cox regression univariate analysis revealed that RTW-SE,FoP,eHL,FR,and FT were significantly different between the non-RTW and RTW groups(P<0.05).Furthermore,Cox regression multivariate analysis identified per capita family monthly income,job type,RTW-SE,and FR as independent influencing factors for RTW(P<0.05).CONCLUSION The RTW rate requires further improvement.Elevated levels of RTW-SE and FR were found to significantly increase RTW among young and middle-aged CRC survivors.Health professionals should focus on modifiable factors,such as RTW-SE and FR,to design targeted RTW support programs,thereby facilitating their timely reintegration into mainstream society.

Financial Strategy during Power System Restructuring

Aiming at the problems of power structure irrationality, lagging of power network behind power source development and high proportion of overdone and small sized units existing currently in power system in China, financial and running strategies are set forth corresponding to power system restructuring.

A Financial Approach to Evaluate an Optimized Combined Cooling, Heat and Power System

Iran’s removing subsidy from energy carrier in four years ago leads to spike electricity price dramatically. This abrupt change increases the interest on distributed generation (DG) because of its several benefits such as lower electricity generation price. In Iran among all type of DGs, because of wide natural gas network infrastructure and several incentives that government legislated to support combined cooling, heat and power (CCHP) investors, this type of technology is more prevalent in comparison with other technologies. Between existing CCHP technologies, certain economic choices are to be taken into account. For different buildings with different load curves, suitable size and operation of CCHP should be calculated to make the project more feasible. If CCHP does not well suited for a position, then the whole energy efficiency would be plunged significantly. In this paper, a model to find the optimal size and operation of CCHP and auxiliary boiler for any users is proposed by considering an integrated view of electricity and natural gas network using GAMS software. Then this method is applying for a hospital in Tehran as a real case study. Finally, by applying COMFAR III software, useful financial parameters and sensitivity analysis are calculated.

Chaotic dynamic behavior analysis and control for a financial risk system

According to the risk management process of financial markets,a financial risk dynamic system is constructed in this paper.Through analyzing the basic dynamic properties,we obtain the conditions for stability and bifurcation of the system based on Hopf bifurcation theory of nonlinear dynamic systems.In order to make the system＇s chaos disappear,we select the feedback gain matrix to design a class of chaotic controller.Numerical simulations are performed to reveal the change process of financial market risk.It is shown that,when the parameter of risk transmission rate changes,the system gradually comes into chaos from the asymptotically stable state through bifurcation.The controller can then control the chaos effectively.

The Difficulties and Mechanism Innovation of Constructing China's Rural Multiplex Financial System

This paper expounds the necessity of constructing China's rural multiplex financial system as follows.First,overcome the bottleneck effect arising from the shortage of capital in the process of development of rural small and medium-sized enterprise,and increase farmers' income;second,provide capital support for rural modern industrial development,and promote rural economic development;third,rationally allocate capital,master the money flow and coordinate urban-rural development.The paper also profoundly analyzes the difficulties of constructing China's rural multiplex financial system as follows.First,the existing rural financial system structure is irrational and the function is unsound;second,non-governmental financial market is disorderly and the organization is unsound;third,the rural financial system is simple and the overhaul of rural credit cooperatives system has not yet been done;fourth,the construction of rural system of financial laws and regulations is laggard,and the construction of rural multiplex financial system lacks good social environment.The specific thoughts,measures and countermeasures of constructing mechanism innovation of China's rural multiplex financial system are put forward as follows.First,increasingly perfect legal system and provide legal support for constructing China's rural multiplex financial system;second,quicken the overhaul of rural credit cooperatives system and perfect its function in China's rural multiplex financial system;third,strengthen the degree of support and development,and change the situation of simple structure of rural financial system;fourth,reinforce administrative supervision and perfect public services,and standardize the rural financial market order.

Financial Sustainability of the Japanese Medical Payment System: Analysis of the Japanese Medical Expenditure for Educational Hospitalization of Patients with Type 2 Diabetes

Japanese medical expenditures have increased rapidly in recent years and are predicted to continue rising. Indeed, it remains uncertain whether the current Japanese medical system can be sustained. In this paper, we analyzed the medical expenditures for educational hospitalization of patients with type 2 diabetes. A dataset of 6173 patients from 36 hospitals was used in the analysis. The sample period was from July 2008 to March 2012. We analyzed the medical expenditures in two ways. First, we analyzed the length of hospital stay (LOS). Next, we analyzed the daily expenditure per patient. The Box-Cox transformation model was used in the first analysis and the ordinary least squares method in the second. Comorbidities and complications prolonged LOS and increased daily expenditures. The LOS was significantly different among hospitals. On the other hand, the differences in daily expenditures among hospitals were relatively small, such that LOS was the main determinant of medical expenditures. Previous studies suggested that LOS could be shortened without degradation of medical quality. Moreover, LOS could be controlled by introducing proper critical paths and improving and standardizing educational programs. Hence, it would be possible to control the medical expenditures for this disease.

Systemic risk management and investment analysis with financial network analytics:research opportunities and challenges

Recent economic crises like the 2008 financial tsunami has demonstrated a critical need for better understanding of the topologies and various economic,social,and technical mechanisms of the increasingly interconnected global financial system.Such a system largely relies on the interconnectedness of various financial entities such as banks,firms,and investors through complex financial relationships such as interbank payment networks,investment relations,or supply chains.A network-based perspective or approach is needed to study various financial networks in order to improve or extend financial theories,as well as develop business applications.Moreover,with the advance of big data related technologies,and the availability of huge amounts of financial and economic network data,advanced computing technologies and data analytics that can comprehend such big data are also needed.We referred this approach as financial network analytics.We suggest that it will enable stakeholders better understand the network dynamics within the interconnected global financial system and help designing financial policies such as managing and monitoring banking systemic risk,as well as developing intelligent business applications like banking advisory systems.In this paper,we review the existing research about financial network analytics and then discuss its main research challenges from the economic,social,and technological perspectives.

U.S. Financial War on Terrorism vs. International Financial System

After September 11 events, America has launched a worldwide financial war against terrorism with a series of farreaching measures. It is not only confined to combating international terrorist activities, but will also exert great

The Influence of CSR Practices on Financial Performance： Evidence From Islamic Financial Institutions in Indonesia

The emergence of Islamic Financial Institutions （IFls） is expected to provide enormous benefits for the Muslims community in Indonesia such as the availability of IFIs based on Sharia law and the implementation of Islamic value in the community. Like Corporate Social Responsibility （CSR） practices in all business organizations, the IFI＇s CSR becomes one of the important factors in improving organizational performance. The implementation of CSR in IFIs is unique as it is based on Sharia law. Zakat and Qardh are the uniqueness of IFI＇s CSR practices. There are many studies which have investigated the relationship of Zakat and Qardh on organizational performance in Arabic and Muslim countries. As Muslim countries, Islamic laws including providing Zakat and Qardh are practices of every business organization. Indonesia is not a Muslim country, Zakat and Qardh are only required for IFIs as part of CSR practices. This study aims to analyze the influence of CSR practices on the financial performances of IFIs in Indonesia using gender as a control variable. The samples of this research were taken from the annual reports of nine Islamic banks for the period of 2010-2014. Regression method was used to analyze and test hypotheses. The results of this research indicate that the relationship between CSR practices and financial performance is significant, the value of R is 0.737, and R square is 0.543. This means that the implementation of CSR practices （Zakat and Qardh） improves organizational financial performances of IFIs in Indonesia. This study also has a limitation as it only focuses on Zakat and Qardh; thus in the future, it is necessary to advance the variable of CSR practices on the real social and environmental practices such as environmental improvement, increasing the quality of human resources, involving in any jobs or reducing unemployment and any other activities.

The Internal Logic Between the Inclusive Financial System Development and Poverty Reduction

This paper introduces the origin of Inclusive Financial System, summarizes the basic theories and views on inclusive financial system development and poverty reduction from experts and scholars at home and abroad. The paper establishes a theoretical analysis framework which impacts poor family income gap by using exponential smoothing method. The government should improve the credit market in poverty- stricken area by the way of macro-management to establish inclusive financial system, to overcome the difficulty of poor farmers＇ credit, to make more poor families to obtain credit opportunities.

Systemic Risk of Conventional and Islamic Banks: Comparison with Graphical Network Models

The main aim of this paper is to compare the stability, in terms of systemic risk, of conventional and Islamic banking systems. To this aim, we propose correlation network models for stock market returns based on graphical Gaussian distributions, which allows us to capture the contagion effects that move along countries. We also consider Bayesian graphical models, to account for model uncertainty in the measurement of financial systems interconnectedness. Our proposed model is applied to the Middle East and North Africa (MENA) region banking sector, characterized by the presence of both conventional and Islamic banks, for the period from 2007 to the beginning of 2014. Our empirical findings show that there are differences in the systemic risk and stability of the two banking systems during crisis times. In addition, the differences are subject to country specific effects that are amplified during crisis period.

Impacts and Adaptation: From the Points of View of Financial Management System in Enterprise Groups

The integration of international economy dominated wi th the financial market leads to fierce competition. This requires firms impleme nt modern corporate financial mechanism. From the view of the current situation of financial management in China, we demonstrates the differences in financial m anagement between Chinese enterprises and international companies by describing detailed case studies of typical large enterprises in China. To transform the enterprise management mechanism, the enterprise financial m echanism must be transformed accordingly. The basic ideas for its transformation and establishment include: 1. Changing the managerial ideology, that is, completing the ideological chan ge from the management of goods to the management of capital; 2. Establishing a scientific organizational mechanism for financial managemen t; 3. Establishing a mechanism for scientific management, supervision and assess ment; 4. Training high-level financial management personnel with modern management knowledge; 5. Dividing promotion center, distribution center, cost center and profit cen ter in financial division. In view of the above basic ideas and basic principles for the transformation and establishment of enterprise financial mechanism, we found that: the basic conte nt that needs transformation in the theory of China’s traditional enterprise fin ancial mechanism should include the content of finance main body, the content of financial objectives, the content of financial organizational structure and the content of environment for financial management. At the same time the following theories should be introduced, particularly the theories of capital time value, of risk in finance management and risk management, of the capital cost and capi tal structure, so as to establish a basic theoretical framework for the modern e nterprise financial mechanism. Based on the analyses, this paper discusses the impacts of economic globaliz ation to Chinese large enterprises and their financial management systems. From the current situation of Chinese companies’ financial management, this paper dem onstrates the adaptations to the differences in financial management of Chin ese enterprises with case study.

Assessing Financial Performance of Malaysian Islamic and Conventional Commercial Banks Using Financial Ratios

A rapid growth of Islamic banking has led the Malaysian economy to gaining greater prosperity than before. Presently, there are more than 20 Islamic banks operating in Malaysia. Financial ratios calculated from the categories of liquidity, profitability, risk and solvency, and efficiency of banks can be used to gauge the overall financial performance of the banking industry. The objective is to assess the overall performance of Islamic banks as well as conventional banks in Malaysia using financial ratios. The findings indicated that conventional commercial banks in Malaysia do have better quality assets, are more liquid, and are more profitable than Islamic banks. Total expenses in conventional banks are much higher, which may affect profitability and the significant amount of non-performing loans （NPLs）, thus increasing solvency risk. The findings show positive insights of Islamic banks, whose confidence and trust are rising, over a short period with strong improvements in asset utilization, effective management, and expenditure control. This comparative study clearly identified that conventional banks are better financial performers compared to Islamic banks in Malaysia during the period of 2006-2010.

Research on Cooperation Mechanism of China's Financial Regulation and Supervision System

Financial regulation and supervision is an important subject in finance research. After the U. S. subprime mortgage crisis,the weakness in this field becomes the research focus. Every country attaches importance to strengthen the financial supervision and management. But the financial regulatory system is a large system,and the process of model building and index selection is very complicated. A model for China's financial regulation and supervision system was proposed and a system evaluation method was improved. A more exact result was drawn by choosing 2003- 2009 index data.

Population Ageing,Financial Leverage and Systemic Risk

Population ageing and high financial leverage are two common problems .faced by the worM＇s major economies. The recent financial crisis proved that the two issues could lead to systemic risk if not handled properly. Based on dynamic panel data from 1980 to 2012 in 119 countries, this paper examines the impact of population ageing on financial leverage J？om an empirical point of view and finds that there is a signOqcant inverted U-shape relationship between the two. In addition, empirical studies show that after passing the ＂turning point＂ of ageing, there will be a marked increase in the probability of financial crisis during the ＂deleveraging＂ process. It can be projected from the empirical conclusions of this paper that China will likely enter the range of a turning point between 2019 and 2028. After that, population ageing, deleveraging and asset price collapse may have a ＂resonance＂ effect to severely impact the stability of the financial system. Therefore, China should shift to more proactive macro financial regulations as quickly as possible, as dynamic and robust management of financial leverage and forward-looking control of bubbles could ensure that the financial system remain flexible enough to avoid systemic risk to the greatest extent.

Influencing Factors and Path Choice of Rebuilding Rural Financial Supervision System

The necessity of rebuilding Chinese rural financial supervision system is expounded. Rebuilding rural financial supervision system is conducive to normalizing rural financial order and forming the benign competitive situation; to clarifying the role played by rural financial organization and providing better financial services for "three agriculture";to forming safe rural financial environment to promote the development of rural economy and national economy. The restricting factors of rebuilding Chinese rural financial supervision system are analyzed. The major reasons are that rural financial legislation is relatively backward and the supervision department lacks the necessary legal basis. The administrative supervision is insufficient, which lead to the mal-position, administrative offside and vacancy of rural financial supervision;rural financial organization mechanism is unreasonable and the internal supervision mechanism is relatively bad;supervision organization of rural financial industry is imperfect and the function is imperfect; public's supervision awareness is weak and social supervision mechanism develops slowly. The paths for rebuilding Chinese rural financial supervision system are put forward including accelerating rural financial legislation to provide perfect legal evidence for rural financial supervision system; clarifying the position on governmental functions and fully displaying the leading role of rural financial supervision; establishing specialized rural financial supervision organization to perfect its supervision functions; vigorously cultivating people's supervision awareness to promote the development of social supervision mechanism.

Research on the Development of City Financial Systems under the Rural Revitalization Strategy

The implementation of the rural revitalization strategy can provide a better solution for problems such as the“three rural”development limitations and the imbalance of urban and rural economic development as it is the key to comprehensive building of a well-off society.Based on Linhai City’s finance status,this article analyzes the financial needs of the city for a better economic development under the rural revitalization strategy which prioritizes the policy of building a city financial system.The city’s financial system should be organized in a multi-level stucture for better economic development.This will improve the credit system of villages and towns,strengthen agricultural product innovation financially,and improve the finances of rural residents.

Designing Carbon Emissions Trading Financial Reporting System in China

With the rapid development of carbon emissions trading market,carbon emissions trading financial reporting system become one of the hardest problems in accounting field.Based on analysis of the financial characteristic of carbon emissions trading,this paper studies about accounting object,assumption,elements and measurement of carbon emissions trading,designs accounting statements,accounting statements notes and financial situation statement of it.