Applying Fuzzy McDm for Financial Performance Evaluation of Iranian Companies

Ghadikolaei, Abdolhamid Safaei; Esbouei, Saber Khalili; Antuchevičienė, Jurgita

doi:10.3846/20294913.2014.913274

Cited by 75 publications

(47 citation statements)

References 26 publications

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“…Kahraman et al (2014) used Fuzzy AHP for the selection of health research investment alternatives. Safaei Ghadikolaei et al (2014) proposed Fuzzy AHP, Fuzzy VIKOR, Fuzzy ARAS, and Fuzzy COPRAS for financial performance evaluation of Iranian companies. Ecer (2015) implemented of Fuzzy AHP and COPRAS-G for evaluation of internet banking branches.…”

Section: Introductionmentioning

confidence: 99%

Third-Party Logistics (3pls) Provider Selection via Fuzzy Ahp and Edas Integrated Model

Ecer

2017

Technological and Economic Development of Economy

136

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Abstract. In the global competitive environment, companies not only improve the quality of service and increase the efficiency, they also decrease the cost by means of third-party logistics (3PLs). 3PLs, therefore, is an important strategy for companies desiring to gain a competitive advantage and 3PLs provider selection plays a critical role for the success of outsourcing. Nevertheless, the level of uncertainty in the selection process is relatively high and need to be carefully considered. Hence, in order to select a proper 3PLs provider, integration of the Fuzzy AHP and Evaluation based on Distance from Average Solution (EDAS) has offered a novel integrated model, in which Fuzzy AHP is used for calculating priority weights of each criteria and EDAS is employed to achieve the final ranking of 3PLs providers. Besides, in order to demonstrate the applicability of the proposed model, it is validated by a case study. Cost together with quality, and professionalism are found to be the most important factors for 3PLs provider selection. Consequently, the advantage of this model is that it is simple to apprehend and easy to apply. The use of the proposed model leads to the selection of suitable alternative successfully in other selection problems.

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Section: Introductionmentioning

confidence: 99%

Third-Party Logistics (3pls) Provider Selection via Fuzzy Ahp and Edas Integrated Model

Ecer

2017

Technological and Economic Development of Economy

136

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“…Ghadikolaei and Esbouei [13] used the Fuzzy Analytic Hierarchy Process (FAHP), Fuzzy VIKOR, Fuzzy Additive Ratio Assessment (ARAS-F) and Fuzzy Complex Proportional Assessment (Fuzzy COPRAS) to establish a hierarchical financial performance evaluation model. Ghadikolaei et al [14] conducted FANP and Fuzzy VIKOR rankings of companies based on their financial performance. Moghimi and Anvari [15] used FAHP and the TOPSIS method, along with data from their financial tables and the subsequent ranking of companies.…”

Section: Previous Studies On the Company's Credit Evaluationmentioning

confidence: 99%

“…The weighted normalized decision matrix is calculated as (14) where w i represents the weight of the ith criterion and the data obtained from Step 5.…”

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confidence: 99%

A Hybrid Multi-Criteria Decision-Making Model for Evaluating Companies’ Green Credit Rating

Yang

Hsu

2019

Sustainability

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Along with economic development and social progress, environmental issues are increasingly becoming the subject of public concern. Through green credit, banks intentionally direct money into resource-conserving technology development and environmental protection industries, thus, encouraging enterprises to focus on green products. Therefore, establishing a reasonable green credit evaluation mechanism for banks is an important issue. Based on this, this study combines grey relational analysis (GRA), the Decision-Making Trial and Evaluation Laboratory technique (DEMATEL), analytic network process (ANP) and the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) to develop a hybrid multi-criteria decision-making (MCDM) model for quantifying data and, thereby, to establish a green credit rating mechanism. In order to verify the model, this study combines credit risk and economic, environmental and social performance evaluation criteria as green credit evaluation criteria. There are 55 high-tech listed companies in Taiwan in 2014 taken as the evaluation objects and conducted for a performance ranking. The empirical results can serve as a reference for financial authorities promoting green finance policies and for investors making investment decisions.

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“…They firstly determine the weights of the nineteen financial ratios calculated over three periods by using the CRITIC method, after they obtain the financial performance scores of these conglomerates by applying TOPSIS method in order to make an inference regarding their future behaviours. Safaei Ghadikolaei et al (2014) have proposed a hybrid fuzzy MCDM approach (fuzzy AHP to determine the weights of criteria, and three outranking methods including fuzzy VIKOR, fuzzy ARAS (Additive Ratio Assessment) and fuzzy COPRAS to rank the companies) to evaluate the financial performance of automotive companies of Tehran stock exchange using ABP and VBP measures. Rezaie et al (2014) have presented a combined MCDM model based on fuzzy AHP (to determine the weights of criteria considering the subjective judgments of decision makers) and VIKOR (to rank the firms) to evaluate the financial performance of 27 Iranian cement firms by financial ratios in the Tehran stock exchange market.…”

Section: Financial Performance Evaluation and Mcdmmentioning

confidence: 99%

A Multi-Criteria Performance Analysis of Initial Public Offering (Ipo) Firms Using Critic and Vikor Methods

Yalçın

Ünlü

2017

Technological and Economic Development of Economy

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Abstract. As Initial Public Offering (IPO) is a significant milestone in the financial strategy of a firm, this study aims to evaluate performance of IPOs using multiple measures including accounting-based performance (ABP), value-based performance (VBP) and overall performance (OP) in the pre-and post-IPO periods. Therefore, we present two combined approaches based on a compromise MCDM method-VIKOR and objective weighting methods-CRITIC and MW (Mean Weight) to evaluate and rank IPOs to help shareholders with understanding on how their performance changes under the different measures. Since the compromise solution (one or a set) proposed by VIKOR depends substantially on criteria weights, VIKOR-CRITIC can show more realistic results because of the differential weights assigned to criteria by CRITIC. In this study, a case study is conducted in order to evaluate the performance of Turkish IPOs based on ABP, VBP and OP measures using the combined methods. The results show that the compromise solution results obtained by VIKOR-CRITIC may be a guideline for investors in making more profitable investment decisions before leaping into any investment decision.

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Applying Fuzzy McDm for Financial Performance Evaluation of Iranian Companies

Cited by 75 publications

References 26 publications

Third-Party Logistics (3pls) Provider Selection via Fuzzy Ahp and Edas Integrated Model

Third-Party Logistics (3pls) Provider Selection via Fuzzy Ahp and Edas Integrated Model

A Hybrid Multi-Criteria Decision-Making Model for Evaluating Companies’ Green Credit Rating

A Multi-Criteria Performance Analysis of Initial Public Offering (Ipo) Firms Using Critic and Vikor Methods

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