EVALUATING THE PERFORMANCE OF COLOMBIAN BANKS BY HYBRID MULTICRITERIA DECISION MAKING METHODS

The aim of the study in this paper is to show how the performance of banks can be evaluated by ranking them based on Balanced Scorecard (BSC) and Multicriteria Decision Making (MCDM) methods. Nowadays, assessing the performance of companies is a vital work for finding their weaknesses and strengths. The banking sector is an important area in the service sector. Many people want to know which bank performs best when entrusting their money to them. For assessing the performance of banks, BSC can be used. This method helps to translate strategic issues to meaningful insights for the respective financial institutions. After that, the banks will be ranked based on performance indicators by the Weighted Aggregated Sum Product Assessment (WASPAS) method. Because this method is based on a decision matrix, weights are required. To find such weights, the Step-wise Weight Assessment Ratio Analysis (SWARA) method is applied. The results show that the International Bank of Colombia has a much better performance than other Colombian banks. Besides, further insights regarding the evaluation process based on BSC, SWARA, and WASPAS are obtained.

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The Evaluation of Mineral Resources Development Efficiency Based on Hesitant Fuzzy Linguistic Approach and Modified TODIM

Mathematical Problems in Engineering ◽

10.1155/2018/1808426 ◽

2018 ◽

Vol 2018 ◽

pp. 1-9 ◽

Cited By ~ 2

Author(s):

Pu Li ◽

Xudong Chen ◽

Xinyi Qu ◽

Qi Xu

Keyword(s):

Decision Making ◽

Multicriteria Decision Making ◽

Mineral Resources ◽

Evaluation Process ◽

Multicriteria Decision ◽

Actual Evaluation ◽

Panxi Area ◽

Linguistic Approach ◽

Fuzzy Linguistic ◽

Resources Development

The evaluation of mineral resources development efficiency is a typical multicriteria decision-making issue. Meanwhile, due to the limited existing technology, there might be subjectivity, ambiguity, and inaccuracy of the measurement of the evaluation index of mineral resources development efficiency. In this paper, we, considering the incomplete information, use the hesitant fuzzy linguistic approach to describe the psychological hesitation and ambiguity of the decision-maker in the actual evaluation process and then construct the general model of the development efficiency evaluation of the mineral resources by using the hesitant fuzzy linguistic terms sets and modified TODIM. Finally, this paper takes the Panxi area as an example to study the development efficiency of vanadium-titanium magnetite. The results show that the hesitant fuzzy linguistic multicriteria decision-making (MCDM) approach can be implemented to mineral resources evaluation and resources management.

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An Exhaustive Study of Possibility Measures of Interval-Valued Intuitionistic Fuzzy Sets and Application to Multicriteria Decision Making

Advances in Fuzzy Systems ◽

10.1155/2016/9185706 ◽

2016 ◽

Vol 2016 ◽

pp. 1-10 ◽

Cited By ~ 10

Author(s):

Fatma Dammak ◽

Leila Baccour ◽

Adel M. Alimi

Keyword(s):

Decision Making ◽

Fuzzy Sets ◽

Multicriteria Decision Making ◽

Possibility Theory ◽

Intuitionistic Fuzzy Sets ◽

Decision Matrix ◽

Multicriteria Decision ◽

Intuitionistic Fuzzy ◽

Exhaustive Study ◽

Interval Valued

This work is interested in showing the importance of possibility theory in multicriteria decision making (MCDM). Thus, we apply some possibility measures from literature to the MCDM method using interval-valued intuitionistic fuzzy sets (IVIFSs). These measures are applied to a decision matrix after being transformed with aggregation operators. The results are compared between each other and concluding remarks are drawn.

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A Modified TOPSIS Method Based onDNumbers and Its Applications in Human Resources Selection

Mathematical Problems in Engineering ◽

10.1155/2016/6145196 ◽

2016 ◽

Vol 2016 ◽

pp. 1-14 ◽

Cited By ~ 13

Author(s):

Liguo Fei ◽

Yong Hu ◽

Fuyuan Xiao ◽

Luyuan Chen ◽

Yong Deng

Keyword(s):

Decision Making ◽

Human Resources ◽

Multicriteria Decision Making ◽

Uncertain Information ◽

Human Beings ◽

Topsis Method ◽

Decision Matrix ◽

Multicriteria Decision ◽

Decision Making Problem ◽

Modified Topsis

Multicriteria decision-making (MCDM) is an important branch of operations research which composes multiple-criteria to make decision. TOPSIS is an effective method in handling MCDM problem, while there still exist some shortcomings about it. Upon facing the MCDM problem, various types of uncertainty are inevitable such as incompleteness, fuzziness, and imprecision result from the powerlessness of human beings subjective judgment. However, the TOPSIS method cannot adequately deal with these types of uncertainties. In this paper, aD-TOPSIS method is proposed for MCDM problem based on a new effective and feasible representation of uncertain information, calledDnumbers. TheD-TOPSIS method is an extension of the classical TOPSIS method. Within the proposed method,Dnumbers theory denotes the decision matrix given by experts considering the interrelation of multicriteria. An application about human resources selection, which essentially is a multicriteria decision-making problem, is conducted to demonstrate the effectiveness of the proposedD-TOPSIS method.

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Multicriteria decision-making in flight route selection

Aircraft Engineering and Aerospace Technology ◽

10.1108/aeat-12-2019-0245 ◽

2020 ◽

Vol 92 (9) ◽

pp. 1377-1384

Author(s):

Leszek Rolka ◽

Alicja Mieszkowicz-Rolka ◽

Grzegorz Drupka

Keyword(s):

Decision Making ◽

Traffic Management ◽

Fuzzy Inference ◽

Multicriteria Decision Making ◽

Optimization Procedure ◽

Decision Matrix ◽

Inference System ◽

Content Type ◽

Multicriteria Decision ◽

Flight Route

Purpose This paper aims to present a hybrid logical-arithmetic approach for selecting optimal flight routes. It can be used in the framework of free route airspace (FRA), which is aimed at achieving higher efficiency of air traffic management. Design/methodology/approach At the first stage, an initial subset of flight routes is selected that are promising alternatives with respect to single numerical criteria. At the second stage, a hybrid multicriteria decision model is constructed, consisting of numerical criteria and additional linguistic criteria. At the third stage, the numerical and linguistic criteria are integrated into a crisp decision matrix for determining the final ranking using the technique for order preferences by similarity to an ideal solution (TOPSIS) method. Findings The considered decision-making problem involves different kinds of criteria. Numerical (objective) criteria are given as real numbers. Linguistic (subjective) criteria are expressed with the help of fuzzy linguistic values. In consequence, a (logical) reasoning process prior to performing an (arithmetic) optimization procedure is necessary. Furthermore, a uniform optimization procedure requires a way of combining numerical and linguistic attributes. Practical implications The proposed approach can be applied to solving various multicriteria decision-making problems, where both objective and subjective criteria are taken into account. Originality/value First, a fuzzy information system that includes linguistic condition attributes is constructed. Second, a fuzzy inference system that is necessary for determining the resulting fuzzy criterion “turbulence conditions” for all flight routes is introduced. Finally, a way of combining numerical and linguistic criteria is proposed. This is done by converting values of fuzzy attributes into crisp ones, basing on the preferences of a decision-maker.

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Balanced scorecard based performance measurement of European airlines using a hybrid multicriteria decision making approach under the fuzzy environment

Journal of Air Transport Management ◽

10.1016/j.jairtraman.2017.05.005 ◽

2017 ◽

Vol 63 ◽

pp. 17-33 ◽

Cited By ~ 58

Author(s):

Hasan Dinçer ◽

Ümit Hacıoğlu ◽

Serhat Yüksel

Keyword(s):

Decision Making ◽

Performance Measurement ◽

Balanced Scorecard ◽

Multicriteria Decision Making ◽

Multicriteria Decision ◽

Fuzzy Environment

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RANKING OF MACEDONIAN BANKING SECTOR USING A SOFTWARE FOR MULTICRITERIA DECISION MAKING

Integrated Politics of Research and Innovations ◽

10.31410/limen.2018.649 ◽

2018 ◽

Author(s):

Žarko Rađenović ◽

◽

Tatjana Boshkov ◽

Ivana Marjanović ◽

◽

...

Keyword(s):

Decision Making ◽

Banking Sector ◽

Multicriteria Decision Making ◽

Multicriteria Decision

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The preliminary selection of oil reservoir in Serbia for carbon dioxide injection and storage by a multicriteria decision-making approach: a case study

Energy Sources Part A Recovery Utilization and Environmental Effects ◽

10.1080/15567036.2021.1936303 ◽

2021 ◽

pp. 1-15

Author(s):

Lola Tomić ◽

Vesna Karović Maričić ◽

Dušan Danilović

Keyword(s):

Carbon Dioxide ◽

Decision Making ◽

Multicriteria Decision Making ◽

Oil Reservoir ◽

Carbon Dioxide Injection ◽

Multicriteria Decision ◽

And Storage ◽

Selection Of ◽

Preliminary Selection

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Interactive visual tools for spatial multicriteria decision making

Proceedings of the Working Conference on Advanced Visual Interfaces - AVI '02 ◽

10.1145/1556262.1556282 ◽

2002 ◽

Cited By ~ 4

Author(s):

Gennady L. Andrienko ◽

Natalia V. Andrienko

Keyword(s):

Decision Making ◽

Multicriteria Decision Making ◽

Multicriteria Decision

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Sustainability in the Business Sector: A Fuzzy Multicriteria Decision-Making Model for Financial Leasing Company Selection of the Vietnamese SMEs

SAGE Open ◽

10.1177/21582440211036080 ◽

2021 ◽

Vol 11 (3) ◽

pp. 215824402110360

Author(s):

Fengsheng Chien ◽

Chia-Nan Wang ◽

Ka Yin Chau ◽

Van Thanh Nguyen ◽

Viet Tinh Nguyen

Keyword(s):

Decision Making ◽

Interest Rates ◽

Small And Medium Enterprises ◽

Multicriteria Decision Making ◽

Primary Concern ◽

Multicriteria Decision ◽

Financial Leasing ◽

Criteria Weights ◽

Leasing Company ◽

Selection Of

The uses and management of capital is extremely important to the operation of any businesses. However, not all businesses have available capital, so the use of loans in many different forms is always an effective solution in managing corporate finance. Accompanying with businesses, many financial leasing companies have implemented products and programs to lend money to businesses with low interest rates. So, choosing the best financial leasing company is a primary concern of businesses. To increase competitiveness, financial leasing companies often offer preferential conditions to attract businesses. Choosing the best financial leasing service to leasing is important and necessary to those businesses. Thus, the selection of a financial leasing company by small and medium enterprises benefits from the application of Multicriteria Decision-Making (MCDM) methods which allows the decision maker to consider various qualitative and quantitative criteria. In this article, the author applied Fuzzy Analytical Network Process (FANP) to calculate the related criteria weights of the financial leasing company selection problem of businesses. Then, the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) is applied to rank the potential decision-making units. This research establishes one complete and efficient model for financial leasing company selection using FANP and TOPSIS methods. The proposed model is then applied into a real-world case study to demonstrate its feasibility.

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