IT2-based fuzzy hybrid decision making approach to soft computing

WOS: 000459347800001This aims to evaluate the risk appetite of the financial investors in emerging economies using an integrated interval type-2 fuzzy model. For this purpose, eight different criteria are identified with the supporting literature. The interval type-2 fuzzy DEMAYEL approach is used to weight these criteria regarding the importance level. In addition, investors are classified into three different groups with respect to the risk appetite which are the aggressive/risk taker, moderate/risk neutral, and conservative/risk averse. Moreover, the interval type-2 fuzzy QUALIFLEX methodology is taken into consideration to rank these investor groups. The novelty of this paper is to propose a hybrid fuzzy decision-making approach to the investors' risk appetite based on the interval type-2 fuzzy sets. The findings show that aggressive investors play the most important role in emerging economies. Therefore, financial products, which offer high returns, should be developed to attract the attention of these aggressive investors. Owing to this aspect, it can be possible for emerging economies to improve their financial systems

Identifying causality relationship between energy consumption and economic growth in developed countries

The main purpose of this study is to evaluate the causality relationship between energy consumption and economic growth for developed countries. Within this context, annual data of 22 developed countries was examined by using Dumitrescu Hurlin panel causality analysis. As a result, it was determined that that there is a bidirectional relationship between energy consumption and economic improvement for developed countries. This condition provides two different results. Firstly, energy consumption has an influence on economic development for these countries. While considering this result, it can be said that any limitation in energy consumption will restrict economic growth. Moreover, it was also concluded that level of economic growth is the main reason of energy consumption for developed countries. In other words, developed countries tend to have more energy consumption when their economies are growing.peer-reviewe

Analyzing the global risks for the financial crisis after the great depression using comparative hybrid hesitant fuzzy decision-making models: Policy recommendations for sustainable economic growth

WOS: 000446770200169The aim of this study is to analyze the effects of global risks on financial crises. For this purpose, five different outstanding crises after the Great Depression of 1929 are taken into the consideration. Additionally, four different dimensions are selected regarding global risk by considering the Global Risk Report. Moreover, the hesitant fuzzy DEMATEL, the hesitant fuzzy VIKOR, and the hesitant fuzzy TOPSIS methodologies are used to reach this objective. We concluded that, with respect to global risks, the industry-based dimension has the highest importance in comparison to other dimensions. In addition, we also identified that the 2010 European debt crisis and the 1982 Latin American debt crisis were the most influenced crises in terms of global risk. The main reason for this is that the macroeconomic problems such as high inflation and unemployment had negative impacts on the industries of these countries. Another important point is that the results of the hesitant fuzzy VIKOR and hesitant fuzzy TOPSIS models are quite different, but they are the most similar when the experts do not reach the consensus. This situation shows that this analysis is quite appropriate with respect to the hesitant approach. While considering these aspects, we recommended that countries should firstly focus on the solutions related to industry level problems in order to minimize the global risk. Owing to this issue, it can be more possible to reach sustainable economic growth in the world

Balanced scorecard-based performance assessment of Turkish banking sector with the Analytic Network Process (ANP)

In the last decade, Performance assessment of banking sectors in advanced economies became a prominent issue investment decision. This paper aims to evaluate the balanced-scorecard-based performance of the Turkish banking sector using the Analytic Network Process Approach. Within this scope, all 33 deposit banks were intended to analyze out of 34 banks. Within this scope, we made an analysis in order to determine which perspectives of the balanced scorecard approach are appropriate for each type of bank (state banks, private banks, foreign banks). In this study, we used Analytic Network Process (ANP) approaches so as to achieve this objective. With a balanced-scorecard performance assessment of the banking sector using the ANP approach, all the factor priorities have been extracted and normalized to one for each cluster and final priorities have been obtained. The final priorities and rankings of each perspective of the balanced scorecard and the type of bank ownership have been assessed in the model. According to the results of the analysis, Findings demonstrate that (i) financial factor of balanced scorecard approach has the first rank with 65.7 percent; (ii) Customer perceptive is in the second rank with 22.1 percent. (iii)Third and fourth ranks have close results, (iv) learning and growth stay in the third rank with 6.3 percent (v) internal factor has the weakest importance with 5.9%, (vi) state banks into bank ownership have the highest rank with 53.9 percent, (vii) Private owned banks are the second in the relative performance of the bank groups with 36.1%, (viii) Balanced scorecard based performance of foreign banks are replaced in the last order with approximately 10%

Determining influencing factors of currency exchange rate for decision making in global economy using MARS method

The aim of this study is to identify the determinants of US Dollar/Turkish Lira currency exchange rate for strategic decision making in the global economy. Within this scope, quarterly data for the period between 1988:1 and 2016:2 was used in this study. In addition to this aspect, 10 explanatory variables were considered in order to determine the leading indicators of US Dollar/Turkish Lira currency exchange rate. Moreover, Multivariate Adaptive Regression Splines (MARS) method was used so as to achieve this objective. According to the results of this analysis, it was defined that two different variables affect this exchange rate in Turkey. First of all, it was identified that there is a negative relationship between current account balance and the value of US Dollar/Turkish Lira currency exchange rate. This result shows that in case of current account deficit problem, Turkish Lira experiences depreciation. Furthermore, it was also concluded that when there is an economic growth in Turkey, Turkish Lira increases in comparison with US Dollar. While taking into the consideration of these results, it could be generalized that emerging economies such as Turkey have to decrease current account deficit and investors should focus on higher economic growth in order to prevent the depreciation of the money in the strategic investment decision

Using quantum spherical fuzzy decision support system as a novel sustainability index approach for analyzing industries listed in the stock exchange

This study aims to identify critical factors of the sustainability index (SI) and evaluate the industries listed in the stock exchange based on the performance of this index. For this purpose, a new fuzzy decision-making model has been created. Firstly, 12 different criteria for the SI are weighted by decision using trial and evaluation laboratory (DEMATEL) methodology based on quantum spherical fuzzy sets (QFS) with golden cut. Secondly, SI performances of the 10 industry alternatives are ranked by extended technique for order of preference: according to similarity through an ideal solution (TOPSIS) with QFS. The main novelty of this study is to identify significant sustainability criteria for the companies to join this index with an original fuzzy decision-making methodology. For this purpose, the analysis results help the companies to act without incurring extreme costs. It is determined that the usage of renewable energy has a significant impact on all other criteria, and while using clean energy, the companies get a chance to improve other criteria of SI. Additionally, based on the weighting results, the use of renewable energy is the most critical criterion to be included in SI. Similarly, recovery of the resources also has a significant contribution. Finally, the ranking results indicate that communication and IT is the most successful industry for SI. Hence, it would be appropriate for businesses to attach importance to the use of renewable energy. In this way, the carbon emission problem would be minimized, and the image of businesses will rise in the eyes of both consumers and investors. In this framework, companies can join microgrid energy management systems to handle high-cost problems of renewable energy investment projects. Owing to microgrid energy applications, the costs of using renewable energy can be shared with other companies, and since this situation can reduce the cost per unit, it will be possible to increase the use of renewable energy.Istanbul Medipol Universit

Analysis of financial development and open innovation oriented fintech potential for emerging economies using an integrated decision-making approach of MF-X-DMA and golden cut bipolar q-ROFSs

The purpose of the paper is to identify the factors of financial development that have the greatest impact on open innovation in 7 emerging countries. The analysis was performed featuring the MF-X-DMA method, as well as its further verification for autocorrelation and heteroscedasticity. The time period covers years from 2002 to 2020. The article states that the main indicators to improve financial development should enhance the process of bank lending and equity market development. An important area is the development of competition by providing equal access to information to all market participants in a continuously refining technical infrastructure. Regression analysis with the MF-X-DMA method confirms the statistical significance of this influence. The article fills the knowledge gap into the link between open innovations and the relatively low capitalization of the modern emerging countries’ financial market, low liquidity in small cap stocks at the financial market and concentration of the banking sector, as well as risks arising in the process of globalization. Another analysis has also been conducted by generating a novel fuzzy decision-making model. In the first stage, the determinants of open innovation-based fintech potential are weighted for the emerging economies. For this purpose, M-SWARA methodology is taken into consideration based on bipolar q-ROFSs and golden cut. The second stage of the analysis includes evaluating the emerging economies with the determinants of open innovation-based fintech potential. In this context, emerging seven countries are examined with ELECTRE methodology. It found the most significant factor is the open innovation-based fintech potential

A low cost shading analyzer and site evaluator design to determine solar power system installation area

Shading analyzer systems are necessary for selecting the most suitable installation site to sustain enough solar power. Afterwards, changes in solar data throughout the year must be evaluated along with the identification of obstructions surrounding the installation site in order to analyze shading effects on productivity of the solar power system. In this study, the shading analysis tools are introduced briefly, and a new and different device is developed and explained to analyze shading effect of the environmental obstruction on the site on which the solar power system will be established. Thus, exposure duration of the PV panels to the sunlight can be measured effectively. The device is explained with an application on the installation area selected as a pilot site, Denizli, in Turkey. © 2015 Selami Kesler et al

ABD’nin ekonomik gelişmesinin tarihsel bir analizi (1947-2017)

The aim of this study is to evaluate economic improvement of the USA. For this purpose, the quarterly data for the periods between 1947 and 2017 is taken into the consideration. Therefore, focusing on this long period provides a historical view so that more appropriate results can be achieved. Moreover, economic growth of the USA is considered as dependent variable whereas four different subtitles of GDP (consumption, private investment, government expenditure and net export) are selected as independent variables. Furthermore, multivariate adoptive regression spline (MARS) methodology is used in the analysis process. The findings show that private investment, government expenditure and net export have a positive relationship between economic growth. It is identified that the positive effect reduces when the percentage of government expenditure exceeds 22.2%. On the other side, in case of negative net export and having lower investment ratio than 16.3%, economic development of US will be affected negatively. These results give very important information that instead of consumption, other three subtitles of GDP make a contribution to the economic development of US. By considering these results, it is recommended that US should mainly implement growth strategies by focusing on private investment and net export. Within this framework, tax advantages for these investors can be provided to reach this objective. In addition to this condition, government should also give incentives to improve industrial production so that investment and export can be increased.Bu çalışmanın amacı ABD'nin ekonomik gelişiminin tarihsel bir bakış açısıyla değerlendirilmesidir. Bu amaçla, 1947 ve 2017 arasındaki dönemler için üç aylık veriler dikkate alınmıştır. Bu nedenle, bu uzun döneme odaklanarak daha uygun sonuçların elde edilebilmesi için tarihsel bir analiz yapılması amaçlanmıştır. Ayrıca ABD'nin ekonomik büyüme oranı bağımlı değişken olarak kabul edilirken, GSYİH'nin dört farklı alt başlığı (tüketim, özel yatırım, devlet harcamaları ve net ihracat) bağımsız değişkenler olarak seçilmiştir. Öte yandan, analiz sürecinde çok değişkenli uyumlu regresyon uzanımları (MARS) metodolojisi kullanılmıştır. Bulgular, özel yatırım, hükümet harcamaları ve net ihracatın ekonomik büyüme arasında pozitif bir ilişki olduğunu göstermektedir. Belirtilen hususa ek olarak, devlet harcamalarının oranı % 22.2'yi aştığında olumlu etkinin azaldığı tespit edilmiştir. Öte yandan, net ihracatın negatif olması ve % 16.3'den daha düşük bir yatırım oranı olması durumunda, ABD'nin ekonomik gelişimi olumsuz yönde etkilenecektir. Bu sonuçlar, tüketim yerine GSYİH'nin diğer üç alt bileşenlerinin ABD'nin ekonomik gelişimine katkı sağladığına dair çok önemli bilgiler vermektedir. Bu sonuçları göz önünde bulundurarak, ABD'nin özellikle özel yatırımlara ve ihracata odaklanarak büyüme stratejilerini uygulamaya koyması önerilmektedir. Bu çerçevede, bu hedefe ulaşmak için yatırımcılara vergi avantajlarının sağlanması yerinde olacaktır. Bu duruma ek olarak, hükümet ayrıca, sanayi üretimini iyileştirmek için teşvikler vererek yatırım ve ihracatın arttırılmasına olumlu etki edebilecektir

Policy recommendations for handling brain drains to provide sustainability in emerging economies

The purpose of this study is to identify the most significant issues to handle brain drains to provide sustainability in emerging economies. In this framework, a new model has been created that consists of two different stages for this situation. Firstly, necessary criteria are identified based on the key items of the balanced scorecard approach. These factors are weighted by using a bipolar q-rung orthopair fuzzy multi stepwise weight assessment ratio analysis (BOFQ M-SWARA) approach with golden ratio. Next, seven emerging economies are ranked with respect to their performance in decreasing brain drains by BOFQ, the elimination and choice of translating reality (ELECTRE) with the golden ratio. An evaluation is also carried out with intuitionistic fuzzy sets (IFSs) and Pythagorean fuzzy sets (PFSs) to test the validity of the findings. The results are similar for all different fuzzy sets, which indicates that the findings are quite coherent and reliable. The most important factor in reducing brain drain has been identified as technical competency. It would be appropriate for countries to provide tax exemptions for research and development studies. This situation can easily attract the attention of companies, as it will contribute to the reduction of costs. Thus, it will be easier to provide technological innovations in the country in the future. Thanks to technological development, it is possible to increase the productivity of enterprises in the country. In this way, the brain drain problem can be minimized as qualified personnel stay in the country. With the high number of qualified people in the country, it will be possible to produce eco-innovative products and develop clean energy technology. Due to this issue, sustainability can be provided in the economic development of emerging economies