The Multi-Aspect Criterion in the PMADM Outline and Its Possible Application to Sustainability Assessment

Zolfani, Sarfaraz Hashemkhani; Zavadskas, Edmundas Kazimieras; Khazaelpour, Payam; Cavallaro, Fausto

doi:10.3390/su10124451

Cited by 16 publications

(13 citation statements)

References 59 publications

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“…Then, we applied the DANP method to identify the weights of the dimensions and criteria in the real world. Finally, we used the SAW technique to calculate the weighted average and then the overall score and ranking of each alternative for decision makers [29][30][31].…”

Section: Mcdm Methods Used In This Bank Sustainability Evaluation Modelmentioning

confidence: 99%

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Business Sustainability Performance Evaluation for Taiwanese Banks—A Hybrid Multiple-Criteria Decision-Making Approach

Lin

Chang

2019

Sustainability

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The Taiwanese government has encouraged bank privatization and the establishment of financial holding companies to improve banking sustainability and consolidate banks, insurance companies, and securities firms. It is important for bank decision makers to set policies that lead to sustainable development. However, the literature remains unclear about the types of banks that achieve greater business sustainability. This paper aims to (1) identify the criteria that affect banks’ business sustainability and (2) determine the most sustainable types of banks. This study uses a hybrid multiple-criteria decision-making approach on eighteen financial criteria for twenty-five Taiwanese listed banks with data from 2012 to 2016. The results show that non-performing loan ratio is the most critical factor. In addition, financial holding companies outperformed non-financial holding companies. Financial holding companies with insurance companies as their largest subsidiaries performed best. Private banks exceeded state-owned banks in sustainability. The results lead to two implications. First, banks should value risk over profitability and diversify financial products. Second, the government should continue to privatize banks. These findings suggest that bank managers implement an enterprise resource planning (ERP) system with a master plan, framework, and guidelines to help them track bank performance indicators to ensure sustainability.

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Section: Mcdm Methods Used In This Bank Sustainability Evaluation Modelmentioning

confidence: 99%

“…evaluate alternatives by breaking problems into smaller components. After weighing the criteria and making judgments about smaller components, we reassemble pieces to present the overall picture to allow decision makers to evaluate the alternatives by their ranking [27][28][29].…”

Section: Introductionmentioning

confidence: 99%

Business Sustainability Performance Evaluation for Taiwanese Banks—A Hybrid Multiple-Criteria Decision-Making Approach

Lin

Chang

2019

Sustainability

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“…Multiple criteria decision making (MCDM) is an important method that has been applied in various areas of sustainable engineering. Several prior studies have employed MCDM techniques in different areas of sustainable engineering [9][10][11][12][13][14][15][16][17][18]. In addition, several prior papers have reviewed the application MCDM and fuzzy sets theory in different areas of engineering and sustainability [11,[19][20][21][22][23][24][25][26].…”

Section: Introductionmentioning

confidence: 99%

Application of MCDM Methods in Sustainability Engineering: A Literature Review 2008–2018

et al. 2019

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Sustainability is one of the main challenges of the recent decades. In this regard, several prior studies have used different techniques and approaches for solving this problem in the field of sustainability engineering. Multiple criteria decision making (MCDM) is an important technique that presents a systematic approach for helping decisionmakers in this field. The main goal of this paper is to review the literature concerning the application of MCDM methods in the field of sustainable engineering. The Web of Science (WoS) Core Collection Database was chosen to identify 108 papers in the period of 2008–2018. The selected papers were classified into five categories, including construction and infrastructure, supply chains, transport and logistics, energy, and other. In addition, the articles were classified based on author, year, application area, study objective and problem, applied methods, number of published papers, and name of the journal. The results of this paper show that sustainable engineering is an area that is quite suitable for the use of MCDM. It can be concluded that most of the methods used in sustainable engineering are based on traditional approaches with a noticeable trend towards applying the theory of uncertainty, such as fuzzy, grey, rough, and neutrosophic theory.

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“…Several methodological studies on multidimensional indices have been developed in the recent years especially in the fields of sustainability [3,4,21], quality of life [22][23][24], and poverty [13,[25][26][27][28][29][30][31].…”

Section: Methodsmentioning

confidence: 99%

“…Starting from already known approaches of MCDM, Hashemkhani Zolfani et al [13] tried to innovate by presenting future-oriented models using Multiple Attribute Decision-making (PMADM) as a specific approach. Siksnelyte et al [14] perform a very extensive overview of the application of decision-making methods in dealing with sustainable energy development issues, which could be very useful for identifying pros and cons of methods presented so far.…”

Section: Introductionmentioning

confidence: 99%

Sustainable Development Goals Indicators: A Methodological Proposal for a Multidimensional Fuzzy Index in the Mediterranean Area

et al. 2019

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This paper describes a methodology for the construction of a multidimensional index for sustainability assessment in the context of the Sustainable Development Goals (SDGs) of the UN 2030 Agenda. The methodology is designed to properly capture the multidimensional nature of sustainable development and the SDG framework, introducing an innovative Fuzzy Multidimensional Index to measure the performance of Mediterranean countries. The focus is on agro-food sustainability, in-line with the aims of the Partnership for Research and Innovation in the Mediterranean Area (PRIMA). Drawing on fuzzy set theory, a step-by-step procedure was developed: the underlying dimensions of a set of selected indicators for the SDGs are identified by exploratory factor analysis; an innovative weighting method is applied to aggregate the indicators and calculate the country scores for each dimension and the Fuzzy Multidimensional Index. The PRIMA program will be a first step towards the implementation of innovative solutions, by funding international cooperation projects between countries on both sides of the Mediterranean for a decade: the Fuzzy Multidimensional Index will be the primary source of data for evaluating such projects and policies implemented from them; the Index will therefore be able to close a gap in the availability of appropriate data.

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The Multi-Aspect Criterion in the PMADM Outline and Its Possible Application to Sustainability Assessment

Cited by 16 publications

References 59 publications

Business Sustainability Performance Evaluation for Taiwanese Banks—A Hybrid Multiple-Criteria Decision-Making Approach

Business Sustainability Performance Evaluation for Taiwanese Banks—A Hybrid Multiple-Criteria Decision-Making Approach

Application of MCDM Methods in Sustainability Engineering: A Literature Review 2008–2018

Sustainable Development Goals Indicators: A Methodological Proposal for a Multidimensional Fuzzy Index in the Mediterranean Area

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