Robust Mahalanobis Distance based TOPSIS to Evaluate the Economic Development of Provinces

Yorulmaz, Özlem; Yıldırım, Sultan Kuzu; Yıldırım, Bahadır Fatih

doi:10.31181/oresta20402102y

Cited by 11 publications

(6 citation statements)

References 20 publications

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“…TOPSIS ranks the alternatives (i.e., countries in this paper) that simultaneously present the shortest distance from the positive ideal solution (best option) and the farthest distance from the negative (worst) solution (Hwang and Yoon 1981). This method has been used in several studies, for example, by Yorulmaz et al (2021), who used this method to rank development levels by provinces in Turkey. Entropy considers the amount of information in each criterion (Cover and Thomas 1991) and can be used with TOPSIS to establish the specific weight for the variable.…”

Section: Entropy Weight Methods For Topsismentioning

confidence: 99%

The Determinants of Outward Foreign Direct Investment from Latin America and the Caribbean: An Integrated Entropy-Based TOPSIS Multiple Regression Analysis Framework

Cunha

Singh

Xie

2022

JRFM

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Given that home country factors play a major role in the internationalization of emerging market firms, there is an ever-growing debate on how they influence the intensity of outward foreign direct investment (OFDI) from these regions. This study investigates how home country factors affect the OFDI intensity in Latin America and Caribbean (LAC) countries. We use the entropy weight method, which uses the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) method and a balanced panel data consisting of 19 countries from 2007 to 2016. The results show a positive association between macroeconomic performance, formal institutions, infrastructure, technology and the OFDI intensity. Furthermore, we find that robust formal institutions, along with the quality of infrastructure and technology, positively moderate the relationship between macroeconomic performance and the OFDI intensity. These findings show that the internationalization of LAC firms is highly dependent on the contextual conditions in their markets.

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Section: Entropy Weight Methods For Topsismentioning

confidence: 99%

The Determinants of Outward Foreign Direct Investment from Latin America and the Caribbean: An Integrated Entropy-Based TOPSIS Multiple Regression Analysis Framework

Cunha

Singh

Xie

2022

JRFM

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“…Failure mode effect analysis (FMEA) is a common and effective technique that may be used to assess risk and improve the safety of a repairable engineering system, according to Kushwaha et al [30]. Yorulmaz et al [31] proposed TOPSIS based on modified Mahalanobis distance measure to rank the 81 Turkish provinces by considering distinct levels of development. One of the most important activities in the purchasing department is supplier selection.…”

Section: Literature Reviewmentioning

confidence: 99%

An Approach of Decision-Making under the Framework of Fermatean Fuzzy Sets

Sindhu

Siddique

Ahsan

et al. 2022

Mathematical Problems in Engineering

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Because of its influence on various elements of human life experiences and conditions, the building industry is a significant business. In the recent past, environmental considerations have been incorporated in the design and planning stages of building supply chains. The process of evaluating and selecting suppliers is one of the most important issues in supply chain management. A multicriteria decision-making (MCDM) problem can be utilized to handle such issues. The goal of this research is to present a new and efficient technique for selecting suppliers with ambiguous data. The suggested methodology’s structure is based on technology for order of preference by similarity to ideal solution (TOPSIS), with Fermatean fuzzy sets ( F r FSs) employed to cope with information uncertainty. In this article, authors modified the distance between F r FSs to propose the similarity measure and implemented it to form the MCDM model to resolve the vague and uncertain data. Moreover, we used this similarity measure to choose the optimal alternative. A practical example for alternative selection is provided, along with a comparison of the acquired findings to existing approach. Finally, to strengthen the outcome obtained through the proposed model, sensitivity analysis and time complexity analysis are performed.

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“…Thus, having a set of alternatives (objects) and a number of evaluation criteria, the goal of applying the MCDM method/methods is to create a ranking of alternatives, e.g., from best to worst. A number of different methodologies for the application of MCDM methods have been presented in the literature, along with their characteristics, level of complexity and varied range of applications (Božanić et al, 2021;Kizielewicz et al, 2021;Opricovic & Tzeng, 2004;Peng et al, 2011;Stojčić et al, 2019;Yorulmaz et al, 2021).…”

Section: Literature Reviewmentioning

confidence: 99%

Evaluating differences in the Level of Working Conditions between the European Union Member States using TOPSIS method

Tutak

Brodny

2022

Decis. Mak. Appl. Manag. Eng.

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Work, which is a conscious activity of man, plays an immensely important role in their life and is the basis for the development of civilization. The work process is closely related to the conditions in which work is performed. These conditions include a number of social, technical, environmental as well as economic and organizational factors necessary to perform work safely in accordance with the applicable legal conditions. The role and importance of working conditions is appreciated by all organizations, countries and their groups taking action to improve them, including formal order. Given the importance and topicality of this issue, research has been carried out, the main goal of which was to assess the level of working conditions in the European Union (EU) countries according to the adopted criteria. The research was based on data from the European Foundation for the Improvement of Living and Working Conditions (Eurofound). Accordingly, eight main criteria were adopted, which were characterized by 64 subindicators. Such a broad approach to describing individual areas related to working conditions made it possible to analyze many factors influencing them. The research covered the 27 EU member states by determining indicators for working conditions criteria and an indicator for general (overall) working conditions. On this basis, their ranking and the level of working conditions in these countries were specified. The TOPSIS method was applied to this part of the research. With the use of partial levels of working conditions evaluation criteria and the k-means method, the authors identified countries similar in terms of the level of studied working conditions criteria. Based on the Spearman's rho and Kendall's Tau correlation coefficients, relationships were examined between the working conditions and the level of economic development and indicators characterizing the area of health and safety at work in the countries under study, which is very important from the point of view of working conditions. The results showed significant differences in working conditions between the EU-27. They were found to be definitely worse in the economically less developed countries (mainly the so-called "new" EU) than in the economically stronger states (the so-called "old" EU countries). The Tutak et al./Decis. Mak. Appl. Manag. Eng. 5 (2) (2022) 1-29 2 assessment and groups of similar countries in terms of working conditions should be used to develop strategies to improve these conditions in the EU-27. This is particularly significant in the context of dynamic technological, social and geopolitical changes across Europe, which have a significant impact on the labor market.

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Robust Mahalanobis Distance based TOPSIS to Evaluate the Economic Development of Provinces

Cited by 11 publications

References 20 publications

The Determinants of Outward Foreign Direct Investment from Latin America and the Caribbean: An Integrated Entropy-Based TOPSIS Multiple Regression Analysis Framework

The Determinants of Outward Foreign Direct Investment from Latin America and the Caribbean: An Integrated Entropy-Based TOPSIS Multiple Regression Analysis Framework

An Approach of Decision-Making under the Framework of Fermatean Fuzzy Sets

Evaluating differences in the Level of Working Conditions between the European Union Member States using TOPSIS method

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