A Judgment-Based Risk Assessment Framework for Consumer Loans

Ferreira, Fernando; Meidutė‐Kavaliauskienė, Ieva; Zavadskas, Edmundas Kazimieras; Jalali, Marjan; Catarino, Sandra M. J.

doi:10.1142/s021962201850044x

Cited by 11 publications

(5 citation statements)

References 74 publications

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“…The process‐oriented nature of the framework also means that the methodological procedures followed can be easily replicated in other situations and/or with different expert panels. The proposed methodology should, nonetheless, be regarded as complementary to—rather than as a substitute for—other approaches (Bell and Morse, 2013; Ferreira et al., 2019; Pereira et al., 2019). The aim is to add to the existing analysis methods and not to replace them, allowing for a transparent and well‐informed social credit analysis mechanism.…”

Section: Discussionmentioning

confidence: 99%

Unveiling the dynamics of social credit determinants using fuzzy cognitive mapping and system dynamics

Pereira

Correia

Ferreira

et al. 2021

Int Trans Operational Res

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Fighting poverty and social inequality are baseline principles of social credit. This type of microcredit has thus increasingly attracted academics and practitioners' attention, particularly after Muhammad Yunus was awarded the 2006 Nobel Peace Prize. Researchers acknowledge that social credit is extremely important and that it should be taken seriously. However, studies examining the dynamics of its determinants are still extremely rare. This gap needs to be filled because the objectives of social credit are quite different from those of other types of credit, going beyond profit and embracing social concerns. Adopting a constructivist, processoriented stance that combined fuzzy cognitive mapping and the system dynamics (SD) approach, the present research sought to develop and analyze a cognitive structure that elucidates the dynamics of social credit determinants over time. Face-to-face group work sessions were held with a panel of professional credit analysts, and the results reveal that the combined use of fuzzy cognitive mapping and SD provides a clearer understanding of the dynamics of these determinants over time. The advantages, limitations, and implications of the proposed methodology are discussed.

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Section: Discussionmentioning

confidence: 99%

Unveiling the dynamics of social credit determinants using fuzzy cognitive mapping and system dynamics

Pereira

Correia

Ferreira

et al. 2021

Int Trans Operational Res

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“…AHP is the analysis technique developed by Saaty (2008) and uses the concept of multi-criteria decision-making (MCDM) methods, which has been successful in various practical decision-making problems. This method is widely used in many fields including engineering, real estate, economics, administration, and management at different levels (Ferreira et al 2019;Rao 2021;Salo et al 2021;Siejka 2015;Wu et al 2012;Yoxas et al 2011;Zelenović Vasiljević et al 2012). This method is one of the important parts of modern decision analysis theory that evaluates a series of alternatives which aim to find the optimal plan in decision-making (Sun et al 2021).…”

Section: Methodsmentioning

confidence: 99%

Identification of Risk Factors in Business Valuation

Razali

Jalil

Achu

et al. 2022

JRFM

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It is widely accepted that risk and uncertainty are integral parts of the property valuation process. Uncertainty in property valuation is derived from the characteristics of property itself. The issue pertaining to risk and uncertainty in property valuations is currently one of the key concerns in global valuation practice to date in addressing the decision of risk and uncertainty in valuation, especially for business purposes or in the current term known as business valuation. The judgment and experience still depend on the expertise of the individual valuers alone. The valuation methods used can cause problems if certain elements in business such as risk are highlighted, especially to determine market value. There is a need for valuers to express assumptions which take into account risk and uncertainties, and then pass on the results of the estimation process to the end user of the valuation report. This research employed Analytical Hierarchical Process (AHP) to identify the level of risk in business valuation for valuers to identify which risk areas will expose them to professional liabilities, which then leads to mitigation of risk to determine value in business valuations. AHP will also be able to identify the level of risk in each of the approaches in business valuation which could help valuers to determine the value and market value in the valuation process. This paper will propose some practical approaches of how to address the risk and uncertainty of the valuation process, especially for the purpose of business valuation.

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“…These are: (a) the methodologies used are not applicable in different contexts; (b) the number of factors identified is relatively small; and (c) statistical methods are incapable of representing the cause‐and‐effect relationships between variables. Indeed, it is widely known that, despite the fact that statistical models are by far the most popular approach, they impose rigorous distributional assumptions, require particular scaling properties of the data, and are limited in flexibility (Carayannis, Ferreira, Jalali, & Ferreira, 2018; Ferreira, Meidutė‐Kavaliauskienė, Zavadskas, Jalali, & Catarino, 2019). Therefore, the present study sought to develop a comprehensive cognitive structure representing determinants of NHS ethical practices and to identify the primary factors affecting the adoption of these practices.…”

Section: Literature Review and Research Gapmentioning

confidence: 99%

Analyzing ethical practices in the public healthcare sector using fuzzy cognitive mapping

Abrantes

Ferreira

Zopounidis

et al. 2020

Multi Criteria Decision Anal

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This study focused on some of the most important aspects of ethics in the healthcare industry and examined the relevance of the system created to evaluate ethical healthcare practices in the public sector. The research included developing a conceptual model representing variables that influence ethics in public healthcare services in Portugal, using fuzzy cognitive mapping to facilitate the identification of the most significant variables. This method is a well‐established decision problem‐structuring tool that allows experts to define cause‐and‐effect relationships between variables and make decisions. The insights obtained were generated in face‐to‐face group meetings with experts in the public healthcare sector, showing that professional profiles, management, team relationships, external factors, equity principles, and respect are among the most relevant determinants of ethical healthcare. That is, these criteria are the most commonly applied standards in analyses of ethical practices in public healthcare services. The resulting assessment framework and its applicability were validated by both the panel of experts and the chairperson of the board of directors of S. Francisco Xavier Hospital in Lisbon, Portugal. The advantages and limitations of the analysis developed in this study are also discussed.

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A Judgment-Based Risk Assessment Framework for Consumer Loans

Cited by 11 publications

References 74 publications

Unveiling the dynamics of social credit determinants using fuzzy cognitive mapping and system dynamics

Unveiling the dynamics of social credit determinants using fuzzy cognitive mapping and system dynamics

Identification of Risk Factors in Business Valuation

Analyzing ethical practices in the public healthcare sector using fuzzy cognitive mapping

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