scholarly journals Comparison of profits of effective portfolios with non-effective portfolios taking into account the fuzzy approach

2021 ◽  
Vol 2021 (150) ◽  
pp. 199-212
Author(s):  
Ewa POŚPIECH ◽  
Keyword(s):  
Fuzzy Numbers ◽  
Listed Companies ◽  
Fuzzy Approach ◽  
Triangular Fuzzy Numbers ◽  
Market Portfolio ◽  
Multi Criteria Evaluation ◽  
Stock Market Investors ◽  
Portfolio Structure ◽  
Synthetic Assessment ◽  
Practical Implications

Purpose: The aim of the article is to compare the results of the constructed effective portfolios and non-effective portfolios build on the basis of the value of the indicator constituting a synthetic assessment of decision variants. Design/methodology/approach: The article uses the multi-criteria TOPSIS method in the standard and fuzzy approach. It was used to evaluate listed companies that were examined in terms of selected fundamental and market characteristics. Taking into account the fuzzy method made it possible to treat the values of criteria from three years as triangular fuzzy numbers, and the values of the measure on the basis of which the ranking was created were also used to build non-effective portfolios. Findings: A multi-criteria evaluation of selected listed companies was performed and, on the basis of the obtained rankings, the sets constituting the basis for the construction of effective and non-effective portfolios were selected. The designated effective portfolios (after pre-selection using the FTOPSIS method) were in most cases more profitable than the market portfolio, while the non-effective portfolios, using TOPSIS as the pre-selection method, were (with one exception) more profitable than the effective portfolios. Research limitations/implications: It was not possible to unequivocally recommend the approach used, although the results appear promising. Practical implications: Taking into account the proposed approach, one can methodically build more profitable and more attractive portfolios. Originality/value: Non-standard approach to criteria assessments and the use of metacriterion values to determine the portfolio structure. The considerations may be of interest to stock market investors.

scholarly journals PERFORMANCE EVALUATION MODEL OF ROMANIAN MANUFACTURING LISTED COMPANIES BY FUZZY AHP AND TOPSIS

2020 ◽  
Vol 26 (4) ◽  
pp. 808-836 ◽  
Author(s):  
Adrian Ioan Ban ◽  
Olimpia Iuliana Ban ◽  
Victoria Bogdan ◽  
Diana Claudia Sabau Popa ◽  
Delia Tuse
Keyword(s):  
Manufacturing Industry ◽  
Fuzzy Numbers ◽  
Stock Exchange ◽  
Fuzzy Ahp ◽  
Evaluation Model ◽  
Listed Companies ◽  
Annual Reports ◽  
Financial Indicators ◽  
Linguistic Variables ◽  
Triangular Fuzzy Numbers

We are interested in the hierarchy of the main Romanian companies in the manufacturing industry by considering eight financial and seven non-financial indicators. Thirty three listed companies, that are non-financial institutions, were selected for the study and in order to control the reliability of the data we used the Bucharest Stock Exchange database, official data published by the Romanian Ministry of Public Finance, and the annual reports released by the companies on their websites, collecting information for the years 2011–2015. Because the human thinking is subjective and ambiguous we prefer linguistic variables, converted afterwards in triangular fuzzy numbers, to represent the importance of indicators. Our method involves the calculation of the weights of individual or categories of indicators based on Fuzzy Analytic Hierarchy Process. Then, the level of performance for each company, separately for financial, non-financial and all indicators is obtained by TOPSIS method. We deduce an objective hierarchy of the companies on a rigorous basis, which is however dependent from the choice of indicators and the conversion scale of linguistic variables into triangular fuzzy numbers. Also, following the obtained results we concluded that the overall performance of companies for the analyzed period is significantly influenced by non-financial indicators.

Totally Symmetric Type-2 Triangular Fuzzy Numbers

2018 ◽  
Vol 9 (11) ◽  
pp. 1717-1727
Author(s):  
Ajay Minj ◽  
Pathinathan T.
Keyword(s):  
Fuzzy Numbers ◽  
Triangular Fuzzy Numbers

scholarly journals The Application of Fuzzy Theory in the Evaluation of Visual Images of Smartphone Rear Cameras

2021 ◽  
Vol 11 (8) ◽  
pp. 3555
Author(s):  
Chien-Hsiung Chen ◽  
Zhongzhen Lin
Keyword(s):  
Factor Analysis ◽  
Fuzzy Numbers ◽  
Fuzzy Theory ◽  
Consumer Perceptions ◽  
Visual Images ◽  
Triangular Fuzzy Numbers ◽  
Potential Consumer ◽  
Comprehensive Comparison ◽  
Different Shapes ◽  
The Relationship

In the present era, technology is developing rapidly. Smartphones play a significant part in people’s lives. However, the research on smartphones mainly focuses on the area of technological realization. The purposes of this study were to examine the relationship between the various rear cameras in smartphones and consumer perceptions, and to understand consumers’ purchasing intentions and preferences. Through the methods of multidimensional scaling (MDS), factor analysis and triangular fuzzy numbers, the visual images of the smartphone rear cameras were analyzed and discussed. The results indicate that the visual images taken by different shapes of rear camera are quite distinct in the categories of innovative and fashionable, and simple and pure, but less distinct in the categories of harmonious and ordered, premium and technical, and superior and valuable. Through a comprehensive comparison, four groups whose images were similar were created. The outcome effectively reflects the potential consumer demands for smartphone rear camera patterns, providing insights for design practices in the smartphone industry.

scholarly journals AN EXTENSION OF THE RATIO SYSTEM APPROACH OF MOORA METHOD FOR GROUP DECISION-MAKING BASED ON INTERVAL-VALUED TRIANGULAR FUZZY NUMBERS

2015 ◽  
Vol 22 (1) ◽  
pp. 122-141 ◽  
Author(s):  
Dragisa STANUJKIC
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
System Approach ◽  
Fuzzy Numbers ◽  
Group Decision ◽  
Weighted Averaging ◽  
Performance Ratings ◽  
Triangular Fuzzy Numbers ◽  
Moora Method ◽  
Interval Valued

Decision-making in fuzzy environment is often a very complex, especially when related to predictions and assessments. The Ratio system approach of the MOORA method and Intervalvalued fuzzy numbers have already proved themselves as the effective tools for solving complex decision-making problems. Therefore, in this paper an extension of the Ratio system approach of the MOORA method, which allows a group decision-making as well as the use of interval-valued triangular fuzzy numbers, is proposed. Interval-fuzzy numbers are rather complex, and therefore, they are not practical for direct assigning performance ratings. For this reason, in this paper it has also been suggested the approach which allows the expression of individual performance ratings using crisp, interval or fuzzy numbers, and their further transformation into the group performance ratings, expressed in the form of interval-valued triangular fuzzy numbers, which provide greater flexibility and reality compared to the use of linguistic variables. Finally, in this paper the weighted averaging operator was proposed for defuzzification of interval-valued triangular fuzzy numbers.

scholarly journals Modelling Porosity Permeability of Ceramic Tiles using Fuzzy Taguchi Method

2018 ◽  
Vol 16 (1) ◽  
pp. 1111-1114
Author(s):  
Abdullah Hulusi Kokcam ◽  
Özer Uygun ◽  
Mehmet Fatih Taskin ◽  
Halil Ibrahim Demir ◽  
Zeynep Demir
Keyword(s):  
Taguchi Method ◽  
Product Development ◽  
Ceramic Tile ◽  
Fuzzy Numbers ◽  
Experiment Design ◽  
Quality Development ◽  
Triangular Fuzzy Numbers ◽  
Ceramic Tiles ◽  
Factors Affecting ◽  
Taguchi Experiment Design

AbstractTaguchi experiment design in quality development studies, is an approach to engineering that supports research and development, product design and product development activities by enabling fewer trials of experiments to determine the best combinations of inputs that affect the outcome. In this study, the factors affecting the porosity were studied in a firm that produces ceramic tile. There were 6 factors considered to be important in total and 2 levels in each factor. L8 orthogonal array were used during the experiment design, which proposes 8 experiment types with different factor levels. The results of the experiments were analyzed so that important factors were determined. Significance of factors were tested by ANOVA and 4 of them were found to be significant. These factors were fuzzified by assessing the factors using linguistic expressions and then triangular fuzzy numbers. A model with 4 inputs and 1 output was built and 34 rules were generated for this model. The developed model was shown to be a useful approach in modeling the porosity permeability of ceramic tiles.

MONTE CARLO METHODS IN FUZZY NON-LINEAR REGRESSION

2008 ◽  
Vol 04 (02) ◽  
pp. 123-141 ◽  
Author(s):  
AREEG ABDALLA ◽  
JAMES BUCKLEY
Keyword(s):  
Monte Carlo ◽  
Monte Carlo Method ◽  
Linear Regression ◽  
Fuzzy Numbers ◽  
Random Number ◽  
Random Number Generator ◽  
Search Space ◽  
Triangular Fuzzy Numbers ◽  
Non Linear ◽  
Regression Problems

We apply our new fuzzy Monte Carlo method to certain fuzzy non-linear regression problems to estimate the best solution. The best solution is a vector of triangular fuzzy numbers, for the fuzzy coefficients in the model, which minimizes an error measure. We use a quasi-random number generator to produce random sequences of these fuzzy vectors which uniformly fill the search space. We consider example problems to show that this Monte Carlo method obtains solutions comparable to those obtained by an evolutionary algorithm.

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