Analyzing firms' performance appropriately is essential issue for decision makers working in financial sector under the conditions of imprecise and incomplete information. Additionally, it can be useful tool for firms in terms of competitive power and sector development. In this study financial performance of six insurance companies traded in BIST is analyzed by using six financial indicators within the period of 2011-2015. For this purpose, firstly weights of criteria related to financial ratios are obtained by using fuzzy Shannon's entropy based on α-level set. Following to this firms' final rankings are determined by means of fuzzy TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) method.

Firms' performance assessment which gained crucial importance in last decades is essential issue for decision makers in financial sector. They can acquire competitive power by this way. In this study financial performance of twelve real estate investment trusts (REITs) listed in BIST is analyzed by using four financial indicators within the period of 2011-2015. Therefore firstly weights of criteria related to financial ratios are obtained by using Chang's Extent Analysis Method on Fuzzy Analytic Hierarchy Process (FAHP). Following to this firms' final rankings are determined by means of TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) and VIKOR (Vise Kriterijumska Optimizacija I Kompromisno Resenje) methods respectively. Also ranking performance of these two methods is interpreted.

PurposePharmaceutical supply chains (PSCs) need a well-operating and faultless logistics system to successfully store and distribute their medicines. Hospitals, health institutes, and pharmacies must maintain extra stock to respond requirements of the patients. Nevertheless, there is an inverse correlation between the level of medicine stock and logistics service level. The high stock level held by health institutions indicates that we have not sufficiently excellent logistics systems presently. As such, selecting appropriate logistics service providers (drug distributors) is crucial and strategic for PSCs. However, this is difficult for decision-makers, as highly complex situations and conflicting criteria influence such evaluation processes. So, a robust, applicable, and strong methodological frame is required to solve these decision-making problems.Design/methodology/approachTo achieve this challenging issue, the authors develop and apply an integrated entropy-WASPAS methodology with Fermatean fuzzy sets for the first time in the literature. The evaluation process takes place in two stages, as in traditional multi-criteria problems. In the first stage, the importance levels of the criteria are determined by the FF-entropy method. Afterwards, the FF-WASPAS approach ranks the alternatives.FindingsThe feasibility of the proposed model is also supported by a case study where six companies are evaluated comprehensively regarding ten criteria. Herewith, total warehouse capacity, number of refrigerated vehicles, and personnel are the top three criteria that significantly influence the evaluation of pharmaceutical distribution and warehousing companies. Further, a comprehensive sensitivity analysis proves the robustness and effectiveness of the proposed approach.Practical implicationsThe proposed multi-attribute decision model quantitatively aids managers in selecting logistics service providers considering imprecisions in the multi-criteria decision-making process.Originality/valueA new model has been developed to present a sound mathematical model for selecting logistics service providers consisting of Fermatean fuzzy entropy and WASPAS methods. The paper's main contribution is presenting a comprehensive and more robust model for the ex ante evaluation and ranking of providers.

Given the understanding that destination attributes will often provide access to deep rooted knowledge repositories as well as offer historic facts, for a given tourist destination, it is vital to mention that there still is insufficient research being undertaken, conceptual or empirical, on the subject. Therefore, it is believed more research effort is required to further develop and increase knowledge on this subject matter. This study being carried out is in a bid to contribute towards the continued development of this body of knowledge and to also, increase domain expertise in this field. Within this study, there were two main objectives. First, was the ranking of Eskişehir’s - one of Turkey’s well-known cultural destinations - destination attributes in terms of its relative importance, by making use of tourism experts’ opinions. A fuzzy ranking methodology was adopted to help achieve this output for the study. Recognizing there are several fuzzy ranking approaches covered in our literature review, the choice made was to adopt the four most commonly used methodologies for the study. Hence, the second objective of this study was to test for statistically significant differences, between output results from all four fuzzy ranking methodologies adopted. This study is equally important because it contributes to the body of knowledge exploring the adoption and use of fuzzy ranking, in the evaluation of destination attributes. Consequently, results from this research will offer a guide to other researchers planning to apply fuzzy ranking to similar studies.

Tourists decide to travel based on the internal forces, but their decisions about destination choice are affected by the attractions of the destinations. In other words, destinations draw the visitors with their attractions. It is important for the destination managements to understand why tourists prefer to visit a destination. Therefore, the aim of this study is to identify relative importance of attraction criteria for Eskişehir, one of the most important destination centers located in the Central Anatolia Region in Turkey. With this aim the survey was conducted with tourism destination experts employed in universities, hotels, tourism agencies and public sector, and attraction criteria were prioritized in terms of their relative importance via Analytic Hierarchy Process, one of the mostly used Multi Criteria Decision Making (MCDM) approach. The results indicate that man-made attractions (touristic purpose) are the most important criteria. According to the importance level other criteria are listed as; natural attraction, superstructure and non-touristic purpose man-made attractions respectively. Although natural attraction and superstructure take in the second and third rank out of four, they have really similar weights. Apart from this, "parks, gardens and picnic areas" and "museum and galleries" were found as the two most important sub-criteria, respectively. Theoretical and practical implications and future research suggestions are also discussed.

Measuring the performance of the banking sector constitutes one of the most critical topics in the finance literature. The measurement of financial performance attracts anyone involved in or with the banking sector. In this respect, it is necessary to analyse the banks operating in Turkey as they play a critical role in the economy. In this study, the performance rankings are established for the commercial banks operating in Turkey for the period between 2007 and 2017 by using Multi-Criteria Decision-Making Methods, i.e., fuzzy TOPSIS and fuzzy Shannon Entropy.

Bu çalışmada birikim değerlendirme tercihi ile banka tercihi arasındaki ilişki multinominal lojistik regresyon analizi ile elde edilmeye çalışılmıştır. Bu amaçla birikim değerlendirme tercih ölçeği hazırlanarak Eskişehir ilindeki 8 ayrı mahallede ikamet eden 100 kişi üzerine uygulanmıştır. Açıklayıcı faktör analizi uygulanarak birikim değerlendirme tercih ölçeği beş boyuta (İslami bankacılık/faizsiz bankacılık; tasarruf kararı; yastık altı tasarrufa yönlendirme; bireysel emeklilik; altına yatırım yapma kararı) indirgenmiştir.  Multinominal lojistik regresyonda bağımlı değişken olarak vadeli hesap için tercih edilen banka seçilmiş ve katılım bankası referans kategori olarak belirlenmiştir. İyi düzeyde uyum ve açıklayıcılığa sahip modele göre islami bankacılık/faizsiz bankacılık değişkeni vadeli hesap için, katılım bankalarının özel ve devlet normal bankalarına göre tercih edilmesinde anlamlı olarak bulunmuştur. Buna karşılık ise tasarruf kararı değişkeni vadeli hesap için özel ve devlet normal bankalarının katılım bankalarına göre tercih edilmesinde etkili önem düzeyine sahip olarak bulunmuştur.

The philosophy behind the Balanced Scorecard is the necessity for an operator to transform non-financial criteria into data sources for the management information system, as well as financial criteria for all governance levels. The Balanced Scorecard introduces solutions to the problems that arise from the failures encountered in strategic management and the inadequacy of traditional performance management systems that lag behind the information age in today's intensely competitive environment, which is pushing businesses more and more. In this study the performance of 12 retailer firms listed in BIST are measured under the balanced scorecard (BSC) perspective by handling 4 main criteria (financial, customer, internal business process and learning & growth perspectives). Pythagorean fuzzy sets (PFS) are considered in order to better represent experts' judgments under inconsistent and indeterminate environment. Following that TODIM methodology, that analyzes decision makers' psychological behaviors under risk, is used to rank the firms. While economic loyalty sub criterion was found as the most important one, participation in management was acquired as the least important one after applying interval valued Pythagorean fuzzy AHP. Finally, Firm F was ranked as the most successful firm according to decision makers under balanced scorecard performance criteria.