Cok Kriterli Karar Verme Ile Avrupa Birligi ve Aday Ulkelerin Yasam Kalitesinin Analizi

European Foundation that gives advices in order to help to provide the best living and working conditions for European Countries, applied European Quality of Life Survey (EQLS) for 31 countries, including Turkey, in 2003, 2005 and 2007 years. The European Quality of Life Survey (EQLS) takes some kind of basic indicators like health, employment, income deprivation, education, family, social participation, housing, environment, transportation, safety, leisure time and life satisfaction into consideration. Studies that are made by using the life quality indicators enable identifying the demographic, social and economical profiles of individuals, groups or societies, determining targets to improve the existing level of life quality and comparing the current positions of their life qualities with other national or international levels. In the studies conducted, it is seen that mostly statistical analysis were used and the life qualities of the countries were handled within the light of various indicators. In this study, multi-criteria decision making is used for evaluating the indicators with a holistic point of view, concurrently. The life quality of European Union Countries and European Union Candidate Countries is analysed with VIKOR, which is one of the multi criteria decision making methods. By three different analysis with VIKOR for the years 2003,2005 and 2007, European Union Countries, Norway and European Union Candidate Countries which are Crotia, Macedonia and Turkey are evaluated according to their life quality indicators. Benefitting from the study results, life qualities of the countries for the years 2003, 2005 and 2007 are evaluated.Multi-Criteria Decision Making, VIKOR Method, European Union, Quality of Life

Developing a hybrid multi-criteria model for investment in stock exchange

One of the main challenges in Stock Market is to choose an appropriate combinations of various assets. The aim of this study is to propose a hybrid method, which is able to survey one problem with some criteria that it is very good for investment problem. In this study, we use a hybrid multiple criteria decision-making (MCDM) model, which shows the dependent relationships among criteria with DEMATEL method to build a relations-structure among criteria. We then use Analytical Network Process (ANP) to determine the relative weights of each criterion with dependence and feedback, and the VIKOR method is implemented to rank and select the best alternatives for investment. This study is in stock exchange in Iran to select the best stocks and the data are gathered through the years (2006-2010). There are a lot of methods to rank and select of firms that most of the methods just do one, ranking or selecting; but the used method in this study not only ranks the firms but also determines which firms (stocks) are best for investment, so that in this study 2 of 50 firms are proposed for investment

Evaluating the criteria for financial holding company operating ability based on the DEMATEL approach–the case of Taiwan

Evaluating criteria selection has significant impacts on data envelopment analysis (DEA) efficiency estimates. Selecting the proper evaluation criteria lead to successful and meaningful results of decision-making. This study aims to use the Decision Making Trial and Evaluation Laboratory (DEMATEL) method to evaluate the most important constructs and criteria and also establish causality relationships among others for financial holding companies (FHCs) of banks’ operating ability in Taiwan. In this research 15 criteria were confirmed through reviewing various articles associated with this issue. Then, the information from the questionnaire was turned into the DEMATEL questionnaire and was distributed among nine experts and also members of the FHCs of Taiwan. The research results show that employees, total assets, total liabilities, non-interest income, income on investments, net profits before tax, net worth, and EPS are eight causal criteria. Furthermore, operating expenses, capital, interest expenses, interest income, operating income, return on assets (ROA), and return on equity (ROE) are seven effect criteria

A hybrid grey MCDM approach for asset allocation: evidence from China’s Shanghai Stock Exchange

Asset allocation is a critical concern for any investor in the financial market. This paper aims to prioritize five randomly selected firms from the top ten stocks by market capitalization of the Shanghai Stock Exchange (SSE) by opting for adequate financial procedures and practical criteria under uncertain conditions. Decision makers want not only the ranking order of stocks but also capital proportions to be allocated. Therefore, this study uses a hybrid multi-criteria decision-making (MCDM) approach comprising of an integrated analytic network process (ANP) and decision making trial and evaluation laboratory (DEMATEL) in a grey environment for optimal portfolio selection to provide both ranking and weighting information for decision makers. Results indicate that return, financial ratios, dividends, and risk are causal criteria group, which are the most influential determinants for obtaining high benefits with regards to stock portfolio selection in SSE. The free float of stocks is the least influencing criterion among all identified criteria of stock portfolio selection of SSE. The Industrial and Commercial Bank of China Ltd. stocks have the highest allocated proportion with the highest priority shown by investors and can be described as a suitable alternative. The practical implications of this research are that the approach, when applied, highlights how the grey system theory minimizes the uncertainties in all stages of decision-making of portfolio selection

Comments on “Multiple criteria decision making (MCDM) methods in economics: an overview”

This paper offers comments on a previously published paper, titled “Multiple criteria decision making (MCDM) methods in economics: an overview,” by Zavadskas and Turskis (2011). The paper's authors made great efforts to summarize MCDM methods but may have failed to consider several important new concepts and trends in the MCDM field for solving actual problems. First, the traditional model assumes the criteria are independently and hierarchically structured; however, in reality, problems are often characterized by interdependent criteria and dimensions and may even exhibit feedback-like effects. Second, relatively good solutions from the existing alternatives are replaced by aspiration levels to fit today's competitive markets. Third, the emphasis in the field has shifted from ranking and selection when determining the most preferable approaches to performance improvement of existing methods. Fourth, information fusion techniques, including the fuzzy integral method, have been developed to aggregate the performances. Finally, the original fixed resources in multi-objective programming are divided such that both decision and objective spaces are changeable. In this paper, we add new concepts and provide comments that could be thought of as an attempt to complete the original paper

Evolving MCDM Applications Using Hybrid Expert-Based ISM and DEMATEL Models: An Example of Sustainable Ecotourism

Ecological degradation is an escalating global threat. Increasingly, people are expressing awareness and priority for concerns about environmental problems surrounding them. Environmental protection issues are highlighted. An appropriate information technology tool, the growing popular social network system (virtual community, VC), facilitates public education and engagement with applications for existent problems effectively. Particularly, the exploration of related involvement behavior of VC member engagement is an interesting topic. Nevertheless, member engagement processes comprise interrelated sub-processes that reflect an interactive experience within VCs as well as the value co-creation model. To address the top-focused ecotourism VCs, this study presents an application of a hybrid expert-based ISM model and DEMATEL model based on multi-criteria decision making tools to investigate the complex multidimensional and dynamic nature of member engagement. Our research findings provide insightful managerial implications and suggest that the viral marketing of ecotourism protection is concerned with practitioners and academicians alike

VIKOR Technique:A Systematic Review of the State of the Art Literature on Methodologies and Applications

The main objective of this paper is to present a systematic review of the VlseKriterijuska Optimizacija I Komoromisno Resenje (VIKOR) method in several application areas such as sustainability and renewable energy. This study reviewed a total of 176 papers, published in 2004 to 2015, from 83 high-ranking journals; most of which were related to Operational Research, Management Sciences, decision making, sustainability and renewable energy and were extracted from the “Web of Science and Scopus” databases. Papers were classified into 15 main application areas. Furthermore, papers were categorized based on the nationalities of authors, dates of publications, techniques and methods, type of studies, the names of the journals and studies purposes. The results of this study indicated that more papers on VIKOR technique were published in 2013 than in any other year. In addition, 13 papers were published about sustainability and renewable energy fields. Furthermore, VIKOR and fuzzy VIKOR methods, had the first rank in use. Additionally, the Journal of Expert Systems with Applications was the most significant journal in this study, with 27 publications on the topic. Finally, Taiwan had the first rank from 22 nationalities which used VIKOR technique

Desenvolvimento de ações potenciadoras de uma cultura de inovação: O caso da VMLY&R Lisboa

Atravessamos um momento único da nossa história, um tempo sem precedentes marcado pela mais grave pandemia mundial até hoje vivida e que teve um inegável impacto na vida das organizações. Estas enfrentam hoje um conjunto de desafios que passam pela manutenção das suas culturas, enquanto definem e validam novos modelos de trabalho, novos modelos de negócio e repensam profundamente as vantagens competitivas que até então detinham. A inovação é uma atividade fundamental nestes processos. Assim, o presente projeto começa por expor os principais contributos da literatura sobre cultura organizacional e sobre a promoção da cultura de inovação no seio das organizações. Através de uma abordagem baseada em Problem Structuring Methods (PSMs) e Design Thinking, procurar-se-á analisar o tema central deste projeto, aplicando-o à empresa VMLY&R Lisboa, que pretende refletir sobre a sua cultura organizacional e aumentar o seu potencial de inovação. Para tal, fez-se uso da técnica DEcision MAking Trial and Evaluation Laboratory (DEMATEL), considerada um PSM, que permitiu estudar e compreender as relações de causa-efeito que influenciam a problemática em estudo, envolvendo a organização na reflexão estratégica sobre o tópico e perseguindo uma abordagem colaborativa e construtivista. Em conjunto com a empresa, validaram-se os principais resultados do estudo e propôs-se um conjunto de ações concretas que permitem potenciar a sua cultura de inovação, ao mesmo tempo que são resumidos os principais contributos e as limitações da presente aplicação.We are going through a unique moment in our history, an unprecedent time marked by the most serious pandemic in the world to date, which had undeniable impact on the organizations’ external environment. Companies now face a set of challenges and try to keep on with their cultures, while defining and validating new working models, new business models and deeply rethinking the competitive advantages they had until now, with innovation being a fundamental activity in these processes. Thus, the present study identifies the main contributions in the literature on organizational culture and on the promotion of innovation within organizations. Based on Problem Structuring Methods (PSMs) and Design Thinking, we analyze the study’s central topic, applying it to VMLY&R Lisboa, which intends to reflect on its own organizational culture and enhance its potential for innovation. To this end, DEcision MAking Trial and Evaluation Laboratory (DEMATEL), a PSM, is used, allowing cause-and-effect relationships between innovation factors that influence this topic to be understood, while pursuing a collaborative and constructivist approach. The main results were validated by the company’s Chief Executive Officer (CEO), allowing a set of concrete actions that can enhance a culture of innovation in VMLY&R Lisboa to be proposed. The contributions and limitations of the present study are also discussed

Valuing Commercial Finance Companies

Stakeholders are increasingly insistent that companies increase firm value. The problem is that stakeholders of financial services firms are unable to accurately determine firm value. The purpose of this correlational study was to examine the accuracy of 4 valuation models in predicting the market value of equity of commercial finance companies. Study participating companies were 8 listed U.S. or Canadian commercial finance companies. The theoretical constructs of the study included the accuracy of valuation models, modern portfolio theory, and the correlation of book value of equity to market value of equity. Financial information on participating companies obtained from public filings were input data in 4 valuation models. Multiple regression analysis of valuation model results and book value of equity (the predictor variables) were used to determine the accuracy of the models in predicting the market value of equity (response variable). The findings of the study showed that all 4 valuation models in combination with the book value of equity were statistically significant predictors of the market value of equity of the participating companies at the p \u3c .05 level. However, the dividend discount model (DDM) and residual income model (RIM) were statistically more accurate without the combination of book value of equity (p = .000 and p = .000, respectively) than the discounted cash flow and risk-adjusted discounted cash flow valuation models (p = .371 and p = .904, respectively). The results of this study contribute to positive social change by providing business leaders an ability to measure the effectiveness of their actions in creating firm value. Corporate social responsibility activities correlate to value creation for firms that engage in promoting employee welfare and other stakeholder welfare