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

A Hybrid Fuzzy Analytic Network Process Approach to the New Product Development Selection Problem

New product development selection is a complex decision-making process. To uphold their competence in competitive business environments, enterprises are required to continuously introduce novel products into markets. This paper presents a fuzzy analytic network process (FANP) for solving the product development selection problem. The fuzzy set theory is adopted to represent ambiguities and vagueness involved in each expert's judgment. In the proposed model, the fuzzy Kano method and fuzzy DEMATEL are employed to filter criteria and establish interactions among the criteria, whereas the SAM is applied to aggregate experts' opinions. Unlike the commonly used top-down relation-structuring approach, the proposed FANP first identifies the interdependence among the criteria and then the identified relationships are mapped to the clusters. This approach is more realistic, since the inner and outer relationships between criteria are simultaneously considered to establish the relationships among clusters. The proposed model is illustrated through a real life example, with a comparative analysis using modified TOPSIS and gray relation analysis in the synthesizing phase. The concluded results were approved by the case company. The proposed methodology not only is useful in the case study, but also can be generally applied in other similar decision situations

Investigating the role of social media in polio prevention in India: a Delphi-DEMATEL approach

Abstract Purpose- This study aims to evaluate the role of social media (SM) tools in the polio prevention in an Indian context, using a hybrid Delphi-DEMATEL approach. Design/methodology/approach- A preliminary list of suitable evaluation criteria was derived from an extensive literature review. Ten experts were then contacted to collect data and finalize the most prominent criteria using the Delphi method. To establish cause-effect relationships among the criteria, further data were collected from twenty-one experts. The decision-making trial and evaluation laboratory (DEMATEL) method was applied to process and interpret the data collected. Findings- The analysis grouped criteria into two sets, i.e. cause and effect. The results show that awareness of social cause and government utilization of resources fall into the cause group; these elements are critical since both directly affect the remaining criteria. These outcomes can help government and businesses to utilize SM for public health surveillance, e.g. to promote schemes/initiatives through sites concerning polio or related health issues. Practical implications- The findings of this research are useful for governments and individual companies to conceive their marketing initiatives akin to polio prevention issues using SM. Originality/value- Despite the emergence of SM, there has been little discussion in existing literature on their role for polio prevention; however, measuring such role could be useful in practice, to help decision makers (DMs) exploiting the potential of SM in the healthcare context. To fill this gap, this study aims to measure the role of SM in polio prevention in the Indian context and to create a cause-effect evaluation model. Using an integrated Delphi-DEMATEL framework for decision-making in the healthcare context is another novelty of this study.N

Combination of fuzzy-AHP and DEMATEL-ANP with GIS in a new hybrid MCDM model used for the selection of the best space for leisure in a blighted urban site

Urban blight issues have transformed over time. Today, the focus is on the social context and such services as recreation and leisure. Considering that the insufficiency of leisure spaces in blighted urban neighbourhoods gives rise to social and cultural problems in Tehran, this research aims to identify the best leisure space in a blighted urban site. The selection process uses the combination of a new hybrid MCDM model and GIS. The integration of GIS and MCDM makes a powerful tool for the selection of the best leisure space in a site because GIS provides efficient manipulation, analysis and presentation of spatial data while MCDM supplies consistent weight of sub-criteria and criteria. The results show the interrelations between dimensions and criteria, also influential priorities and the most important sequences of those. Afterward, this study employs DANP to obtain the weight of each criterion and select a site for leisure using GIS, based on INRM from the DEMATEL method

The Selection of Intermodal Transport System Scenarios in the Function of Southeastern Europe Regional Development

The development of intermodal transportation (IT) systems is of vital importance for the sustainability of logistics activities. The existing research point at individual directions of action for system improvement and increase of IT participation in overall transportation, thus reducing negative impacts of logistics on sustainability. However, there is a lack of research defining complex scenarios that unite existing ideas and concepts of IT system development and improvement. Accordingly, this article deals with the definition and selection of the most appropriate IT development scenario for the region of Southeastern Europe. Six different potential scenarios that differ in the network configuration, the required level of logistics infrastructure development, the role of different IT terminal categories, the involvement of different transportation modes, and goods flows’ transformation degree, are defined. The scenarios are analyzed according to four stakeholder groups and twelve defined criteria. A novel hybrid multi-criteria decision-making model, based on fuzzy Delphi, fuzzy Factor Relationship (FARE), and fuzzy Measurement of Alternatives and Ranking according to Compromise Solution (MARCOS) methods, is developed for solving the problem. The definition and analysis of the problem, the way of establishing the scenarios, as well as the development of a novel hybrid model are the main contributions of this article. A significant contribution is also the consideration of the Dry Port (DP) concept for the first time in the context of river ports. The results indicate that the scenario referring to the development of the IT core network with the Danube DP terminals is potentially the most appropriate scenario for the Southeastern Europe IT system

Developing framework for capabilities related to supporting management discipline that contributes to r&d in public organizations of Pakistan

Research and development R&D under the boundaries of management scope has become a crucial aspect for individual, organizational and global level. R&D has long considered as a top priority for developing countries. However, R&D across developing countries confronts vital deficiencies in classifying capabilities to address capability failure issue. As result of such problem, there is potential demand among public organizations for creating theoretical model dealing R&D at organizational level. The prime objective of this research is to classify the capabilities related to supporting management discipline that adds their influence on R&D, To analyze the interrelationship among the capabilities related to supporting management discipline for R&D in Pakistan Public Organizations and To prioritize the capabilities that involve at R&D in public organizations based on their interdependency in case of Pakistan . To accomplish the primary objective, the research comprise on theoretical and empirical studies: General literature review; Systematic literature review gathering capabilities related to supporting management disciplines that involve in R&D; Focus group discussion applied for refining capabilities under country-specific view; Applying proposed model in case of Pakistan public organization to reconfigure R&D orientation to confront future challenges. Competitive progression in any R&D firm does have cross-cultural implication specific to country within which the R&D functioned since is this study draw the case of R&D in Pakistan public organization. Therefore, Focus group technique adapted to refining relevant capabilities related to knowledge innovation and technology management as “supporting management discipline”. These capabilities gathered from the systematic literature review (PRISMA and Co-word analysis). The experts nominated from various research centers that include universities, public organizations. Furthermore, based on focus group results the interrelationship and prioritization of capabilities can be formulate through DANP techniques. The DANP (DEMATEL Based ANP) technique utilizes multidisciplinary experts that allow general model fitting specifically to R&D’s in public organization. The study concluded, by filling the potential gap that occurs in shape of capability failure. Key finding of this study is to draws novel Framework on infrastructural, processes and strategic perspective related to capabilities that belongs to knowledge, innovation and technology management along with behavior of their resources that influence indirectly on R&D. The capabilities perspective as criteria’s allowing decision makers to assess the vital deficiencies in classifying capabilities to address capability failure issue. This research enables policymakers to developed R&D framework that might be useful for other low privilege developing countries where state driven R&D model plays a crucial role in developing national science policy

Social media addiction: applying the DEMATEL approach

While there is a growing number of studies investigating the determinants of social media addiction, there is a lack of research on examining the importance of such predictors and their inter-correlations and inter-dependences from psychotherapists’ and researchers’ point of views. Hence, utilizing the “Decision Making Trial and Evaluation Laboratory (DEMATEL)” technique, the current study investigated the clinical importance of social media addiction from the perspective of researchers and psychotherapists. Accordingly, by reviewing the literature 15 distal predictors of social media addiction were extracted and further classified into three groups of personality factors, comorbid symptoms, and psychosocial factors. From the data collected from 35 respondents, the results highlighted the group of personality factors as the most important dimension increasing the risk for developing social media addiction from the respondents’ perspective. Moreover, the DEMATEL results revealed the predictors of openness to experience (personality dimension), loneliness (psychosocial), and depression (comorbid) as the most important predictors of social media addiction within each group. The results and implications of the study are discussed

Planning an Intermodal Terminal for the Sustainable Transport Networks

Growing competition in the global market imposes the need for adequate planning of transportation processes and development of intermodal transport networks, whereby intermodal terminals play a key role. This paper proposes a methodology for prioritization of the intermodal terminal’s development features, as the procedure in its planning process, leading to the design of the intermodal terminal in accordance with the needs of various stakeholders and the principles of the sustainable development. As the stakeholders often have conflicting interests and objectives, it is necessary to consider a broad set of requirements and developmental features that enable the fulfillment of the defined requirements. In order to solve the problem this paper proposes a new hybrid multi-criteria decision-making model that combines Delphi, Analytical Network Process (ANP) and Quality Function Deployment (QFD) methods in the fuzzy environment. The applicability of the proposed model is demonstrated by solving an example of planning an intermodal terminal in Belgrad

Sustainable Industrial Engineering along Product-Service Life Cycle/Supply Chain

Sustainable industrial engineering addresses the sustainability issue from economic, environmental, and social points of view. Its application fields are the whole value chain and lifecycle of products/services, from the development to the end-of-life stages. This book aims to address many of the challenges faced by industrial organizations and supply chains to become more sustainable through reinventing their processes and practices, by continuously incorporating sustainability guidelines and practices in their decisions, such as circular economy, collaboration with suppliers and customers, using information technologies and systems, tracking their products’ life-cycle, using optimization methods to reduce resource use, and to apply new management paradigms to help mitigate many of the wastes that exist across organizations and supply chains. This book will be of interest to the fast-growing body of academics studying and researching sustainability, as well as to industry managers involved in sustainability management