An Integrated CRITIC-MARCOS Technique for Analysing the Performance of Steel Industry

2021 ◽  
pp. 115-127
Author(s):  
Rishi Dwivedi ◽  
Kanika Prasad ◽  
Prashant Kumar Jha ◽  
Shamvavi Singh
Keyword(s):  
Financial Institutions ◽  
Critical Role ◽  
Investment Decisions ◽  
Multi Criteria Decision Making ◽  
Compromise Solution ◽  
Transport Networks ◽  
Consumer Durables ◽  
Steel Consumption ◽  
Criteria Importance ◽  
Decision Making Tool

Steel has played critical role in the expansionist ambition of successful aristocrats and laying the foundation of enviable empires. Modern economies are built on strong infrastructure, communication, and transport networks. Industries, like automobiles, consumer durables, real estate, cannot be imagined without steel. Its synonymy with growth of an economy can be gauged by the fact that matrices, like per capital steel consumption and its contribution to the GDP, are considered as parameters of economic development. It is one of the most tracked industries by the investors, analysts, and financial institutions. In this chapter, a novel multi-criteria decision-making tool while integrating measurement alternatives and ranking according to compromise solution (MARCOS) and criteria importance through intercriteria correlation (CRITIC) methods is developed for evaluation of steel organisations which are constituents of BSE 200 index. The results derived from the implementation of integrated MARCOS-CRITIC model aid diverse stakeholders in making informed investment decisions.

scholarly journals REGIONAL AIRCRAFT SELECTION WITH FUZZY PIPRECIA AND FUZZY MARCOS: A CASE STUDY OF THE TURKISH AIRLINE INDUSTRY

2021 ◽  
Vol 19 (3) ◽  
pp. 423
Author(s):  
Mahmut Bakır ◽  
Şahap Akan ◽  
Emircan Özdemir
Keyword(s):  
Airline Industry ◽  
Multi Criteria Decision Making ◽  
Compromise Solution ◽  
Operational Cost ◽  
Selection Decisions ◽  
Criteria Importance ◽  
Comprehensive Framework ◽  
Importance Assessment

Aircraft selection is an important issue in achieving long-term goals in the airline industry. For this issue in which multiple conflicting criteria are involved, the extant literature points to the use of multi-criteria decision-making (MCDM) methods. In this respect, this study aims to propose a systematic and comprehensive framework with a focus on the regional aircraft selection perspective. To achieve this, an integrated fuzzy Pivot Pairwise Relative Criteria Importance Assessment (F-PIPRECIA) and fuzzy Measurement Alternatives and Ranking according to the Compromise Solution (F-MARCOS) approach was employed. In this study, in which six regional aircraft alternatives were evaluated according to 14 criteria, data were collected from five decision experts. As a result, it was found that the most pivotal criterion is C33 (Operational Cost), and the least important criterion is C12 (NOx). In addition, CRJ1000 was identified as the most promising regional aircraft alternative. The results of the application were further validated by applying a three-stage sensitivity analysis. The proposed structure is anticipated to assist airline managers in aircraft selection decisions under uncertainty by offering a robust and systematic tool.

scholarly journals Evaluation of OECD Countries with Multi-Criteria Decision-Making Methods in terms of Economic, Social and Environmental Aspects

2021 ◽  
Vol 4 (2) ◽  
pp. 55
Author(s):  
Talip Arsu ◽  
◽  
Ejder Ayçin ◽  
Keyword(s):  
Decision Making ◽  
Oecd Countries ◽  
The Other ◽  
Multi Criteria Decision Making ◽  
Compromise Solution ◽  
Environmental Aspects ◽  
Expert Opinions ◽  
Environmental Criteria ◽  
The Social ◽  
Criteria Importance

Exhausted natural resources and deteriorating ecological balance, together with the social privileges that people expect to have, are proof that the development of countries cannot be reduced to economic development alone. In this respect, this study aimed to evaluate the economic, social and environmental aspects of Organization for Economic Co-operation and Development (OECD) countries. Within this scope, the countries were firstly divided into two groups by performing cluster analysis in order to create more homogeneous country groups. Then, 12 criteria, consisting of four economic, four social and four environmental criteria, were determined by considering the literature and expert opinions. The criteria importance through intercriteria correlation (CRITIC) method was used to weight the determined criteria and using the calculated criterion weights, the countries in each cluster were then evaluated with the measurement of alternatives and ranking according to compromise solution (MARCOS) method. As a result, the most successful countries in the first cluster were determined as Switzerland, Denmark and Ireland with 68.8%, 62.7% and 62.5% performance scores, respectively. Whereas, the most unsuccessful countries were USA, Canada and Australia with 49.8%, 50.0% and 50.1% performance scores, respectively. The most successful countries in the second cluster were found as Slovenia, Spain and Portugal with 65.9%, 65.5% and 64.5% performance scores, while the most unsuccessful countries were Turkey, Chile and Colombia with 45.9%, 55.4% and 55.9% performance scores, respectively. Finally, in order to test the sensitivity of the MARCOS method, the solution was repeated with the MAIRCA, WASPAS, MABAC and CoCoSo methods using the weights obtained by the CRITIC method. A high correlation (greater than 80%) was found between the rankings acquired using the other methods and the rankings obtained by the MARCOS method.

scholarly journals Multi-Criteria Decision-Making Tool for the Safety of Bangladeshi Industries Using Fuzzy Logic

2018 ◽  
pp. 29-38
Author(s):  
Muhammed Kamrul Islam ◽  
Sajal Chandra Banik ◽  
Nazmus Sakib ◽  
Nurun Nahar Begum
Keyword(s):  
Decision Making ◽  
Fuzzy Logic ◽  
Multi Criteria Decision Making ◽  
Decision Making Tool

An Expert System Based on a Hybrid Multi-Criteria Decision Making Method for Selection of Non-Conventional Machining Processes

2015 ◽  
Vol 735 ◽  
pp. 41-49 ◽  
Author(s):  
Arash Azaryoon ◽  
Musa Hamidon ◽  
Ashraf Radwan
Keyword(s):  
Decision Making ◽  
Analytic Network Process ◽  
Reference Points ◽  
Multi Criteria Decision Making ◽  
Compromise Solution ◽  
Machining Processes ◽  
Workpiece Material ◽  
Topsis Technique ◽  
Conventional Machining ◽  
Selection Of

In this study, a knowledge-based system has been developed for selection of non-conventional machining processes using a hybrid multi-criteria decision making Method. This approach is a combination ofDEMATEL(Decision Making Trial and Evaluation Laboratory),ANP(Analytic Network Process) andVIKOR(VlseKriterijumska Optimizacija I Kompromisno Resenje, in Serbian, meaning Multi-criteria Optimization and Compromise Solution) methods which evaluates different types of quantitative and qualitative measures of performance and economic factors, and ultimately provides a set of capable processes in order of priority. Twelve machining processes, eight group of workpiece material and eighteen shape features have been investigated in this study. What separates this approach from others is that, this hybrid method considers the influence of factors in the network relation map as well as their relative importance. Moreover, unlike other popular ranking methods such as TOPSIS (Technique for Order Preference by Similarity to the Ideal Solution), it is not just based on two reference points, namely ideal and inferior points; instead, it proposes a compromise solution and not just a single ranking score. Observations have shown that the developed system works satisfactorily, yields acceptable results and makes accurate decisions as well. It also provides a comparative study among the alternative processes by utilizing graphical features for better analysis and judgment of acceptable alternatives.

An Integrated Methodology for Evaluation of Electric Vehicles Under Sustainable Automotive Environment

2019 ◽  
pp. 41-62 ◽  
Author(s):  
Tapas Kumar Biswas ◽  
Željko Stević ◽  
Prasenjit Chatterjee ◽  
Morteza Yazdani
Keyword(s):  
Electric Vehicles ◽  
Sustainability Assessment ◽  
Model Performance ◽  
Compromise Solution ◽  
Holistic Model ◽  
Proposed Model ◽  
Criteria Importance ◽  
Assessment Problems ◽  
Selection Of

In this chapter, a holistic model based on a newly developed combined compromise solution (CoCoSo) and criteria importance through intercriteria correlation (CRITIC) method for selection of battery-operated electric vehicles (BEVs) has been propounded. A sensitivity analysis has been performed to verify the robustness of the proposed model. Performance of the proposed model has also been compared with some of the popular MCDM methods. It is observed that the model has the competency of precisely ranking the BEV alternatives for the considered case study and can be applied to other sustainability assessment problems.

Investigation of Factors Affecting Adoption of FinTech in Financial Institutions

2021 ◽  
pp. 222-241
Author(s):  
Subhashini Sailesh Bhaskaran
Keyword(s):  
Literature Review ◽  
Technology Acceptance ◽  
Financial Institutions ◽  
Positive Relationship ◽  
Investment Decisions ◽  
Ease Of Use ◽  
Financial Assistance ◽  
Factors Affecting ◽  
Use Of Technology ◽  
Main Factors

FinTech, a compound term for financial technology, signifies the usage of technology to provide financial assistance. Ever since its evolution FinTech has been growing tremendously, despite its positive and negative aspects. In the literature review, there are many factors affecting the adoption of FinTech. It was found that the ease of use of technology (Technology Acceptance Theory), investment decisions in crowdfunding (Decision Theory), and the risks involved in the adoption of FinTech (Prospect Theory) are the main factors that might affect the adoption of FinTech. However, there is a paucity of studies linking all these factors in the adoption of FinTech using these theories. This research project investigates the influence of these factors in the adoption of FinTech. In order to analyze these factors, a questionnaire was used. As a result, it was found that there is a positive relationship between the ease of use and FinTech's adoption; between FinTech's adoption and investment decisions in crowdfunding and between the level of risks when adapting to FinTech. Keywords: FinTech; Factors; Bahrain; Adoption; Financial Institutions

PMI: mortgage backstop from the Alger Report to Dodd-Frank

2014 ◽  
Vol 22 (1) ◽  
pp. 43-48
Author(s):  
Adolph Neidermeyer ◽  
Naomi E. Boyd ◽  
Presha Neidermeyer
Keyword(s):  
Financial Institutions ◽  
Income Tax ◽  
Design Methodology ◽  
Historical Perspective ◽  
Critical Role ◽  
Mortgage Lending ◽  
Content Type ◽  
The Usa ◽  
Federal Income Tax ◽  
Historical Role

Purpose – The purpose of this paper is to provide a historical perspective and going-forward assessment of the importance of private mortgage insurance (PMI) entities in the residential-lending landscape in the USA. Design/methodology/approach – Financial data from the PMI entities and federal income tax data were analyzed to comment on the importance of the PMI entities in the historical and current mortgage-lending environment. Findings – PMI entities played a critical role in expanding the population of mortgage candidates for financial institutions. Through the guarantees offered by PMI entities, financial institutions granted loans to individuals who otherwise would not have qualified for mortgages. Originality/value – No prior research has assessed the overall historical role played by these primary PMI entities.

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