Multicriteria Decision Aid/Analysis in Finance

Spronk, Jaap; Steuer, Ralph E.; Zopounidis, Constantin

doi:10.1007/0-387-23081-5_20

Cited by 57 publications

(28 citation statements)

References 78 publications

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“…The findings contribute to the finan- 42 cial applications of decision-making science and computational intelligence in practice. 43 Ó 2015 Published by Elsevier B.V. 44 45 46 47 1. Introduction 48 Financial ratios are widely used for evaluating the competitive- 49 ness and worthiness of a company.…”

Section: Financial Performance (Fp) 20mentioning

confidence: 99%

“…Although 71 this approach is widely used in financial studies, the unrealistic 72 assumptions of regression models (e.g., independent relationship 73 among considered variables and normal distribution of errors) 74 might yield unpersuasive results [24]. Furthermore, the regres-75 sions primarily represent average results, which are insufficient 76 to guide a decision maker (DM) [44]. Therefore, the complexity [19,41] or the data mining approach to explore implicit 85 relationships among large datasets [9,12,34].…”

Section: Financial Performance (Fp) 20mentioning

confidence: 99%

“…An ing all business problems is unlikely to be provided. Developing a 163 suitable method or model by infusing suitable methods or tech- 164 niques for the addressed problem is more practical [44]. 165 Although various MADM methods are applied in finance, for brev- 166 ity, only the DEMATEL technique and fuzzy inference adopted in 167 the proposed model are discussed.…”

Section: Financial Performance (Fp) 20mentioning

confidence: 99%

See 2 more Smart Citations

A new approach and insightful financial diagnoses for the IT industry based on a hybrid MADM model

Shen

Tzeng

2015

Knowledge-Based Systems

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Section: Financial Performance (Fp) 20mentioning

confidence: 99%

Section: Financial Performance (Fp) 20mentioning

confidence: 99%

Section: Financial Performance (Fp) 20mentioning

confidence: 99%

See 1 more Smart Citation

A new approach and insightful financial diagnoses for the IT industry based on a hybrid MADM model

Shen

Tzeng

2015

Knowledge-Based Systems

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“…Also, a research project based on statistics attempts to generalize its models to support its hypotheses and theories; consequently, such projects must collect data samples that are sufficiently large to be representative for the assumed population, which can only provide averaged numbers (Spronk et al, 2005) from the sample data.…”

Section: Introductionmentioning

confidence: 99%

An Error-Proof Approach for Decision Making Using DEMATEL

Islam

Shariman

Sorooshian

2019

KSS

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Decision Making Trial and Evaluation Laboratory method of Multi-Criteria Decision Making has been being used very widely in many management studies (like Operation Management) to identify causal relationships among factors and draw attention to valuable insight for decision making. The scope of this system has reached the manufacturing industry, social activities, farming, financial system, environmental science, energy, and other areas, and has solved numerous practical problems. However, the author has found that the results are misleading as and when it is applied with global (or overall) consideration or even elements/category of unequal weights. To show the serious differences in the results misguiding decision-makers, an example has been demonstrated in this study. Result of the Decision Making Trial and Evaluation Laboratory from global calculation can be corrected if the calculation and analysis are done based on distinct elements (cluster wise). Grading success or failure factors as per distinct elements of a system and integrating them as per criticality found at the element level, is an added methodology to the existing knowledge of using Decision Making Trial and Evaluation Laboratory. With another example from the previous study, the new approach is justified as well. This new approach will help to find critical factors in a truly holistic way and implement any principles, policies, or system more confidently.

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“…Chow () emphasizes that the portfolio optimization techniques can assist in the search of portfolio that best suits each investor's particular objectives. Consequently portfolio analysis models that include more factors in the analysis of portfolio are more realistic approach to portfolio selection (Briec et al., ) and are perceived by the decision makers to more realistically represent their aspirations (Spronk et al., ). Each factor in a portfolio analysis model corresponds to an objective in the optimization model and hence a multiobjective approach is required to solve the resulting models.…”

Section: Introductionmentioning

confidence: 99%

Goal programming with extended factors for portfolio selection

Tamiz

Azmi

2017

Int Trans Operational Res

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This paper proposes and examines the use of several stock‐related factors, called extended factors, for portfolio selection. These factors, including the traditional factors of risk and return, are represented as objectives in weighted goal programming (WGP) models. Several WGP models with passive and active target values and various weights for their unwanted deviational variables in their achievement functions have been developed. The weights and target values of the extended factors represent decision makers’ utility toward their portfolio. The resulting portfolios for the proposed models are compared against each other as well as against the Dow Jones Industrial Average index and portfolios obtained from the well‐established Markowitz and Konno and Yamazaki's models. The experimental results strongly support the use of extended factors for portfolio selection problems and the assumption of meeting decision maker's preferences and utilities better than the portfolios based entirely on risk and return.

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Multicriteria Decision Aid/Analysis in Finance

Cited by 57 publications

References 78 publications

A new approach and insightful financial diagnoses for the IT industry based on a hybrid MADM model

A new approach and insightful financial diagnoses for the IT industry based on a hybrid MADM model

An Error-Proof Approach for Decision Making Using DEMATEL

Goal programming with extended factors for portfolio selection

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