Abstract
This study aims to identify the necessary strategies for the development of a sustainable financial system. For this purpose, a novel approach could be provided for soft computing with Gaussian-based fuzzy DEMATEL approach to understand the significant levels and impact-relation degrees of these criteria. For robustness check, this evaluation has also been performed for triangular and trapezoidal fuzzy sets. There are many novelties of this study. Firstly, computer science has a significant role in the decision-making process. Another specificity is that the use of Gaussian numbers with fuzzy numbers is a new area. In addition, interval type-2 fuzzy (IT2F) sets also provide a significant advantage in decision-making under uncertainty. The results demonstrate that the size of the alternative financing, investment in efficient projects, and effective advertisement/promotions are the most important items to affect the performance of alternative banking system of emerging economies. Hence, it is recommended that the new banking applications should be applied by the state or the state can provide some incentives for foreign banks to invest in emerging economies, such as tax reduction. Another important point is that the financial intermediations should generate a component financial analysis team to examine the financial reports of the companies in detail so that the financial credibility of these companies can be evaluated more effectively.
Highlights
Background of Fuzzy LogicFuzzy set theory was first introduced by Zadeh [84]
Discussion of the Analysis Results. e results indicate that the size of the financial market is the most important criterion to improve the effectiveness of alternative financing. is situation gives information that the country may not be appropriate for alternative financing when it does not have a powerful financial market. erefore, companies should be encouraged to make investment in the financial market
The aim is to focus on the ways of increasing the efficiency of alternative financing in emerging economies
Summary
Theoretical information of fuzzy logic is defined. After that, DEMATEL methodology is explained. In the process, total influence matrix is created, and the weights of the criteria are calculated with the help of D and R values. It is aimed to identify significant priorities for an alternative banking system that considers social and environmental issues so that sustainable financial sector can be generated For this purpose, a novel model is proposed by considering fuzzy multicriteria decision-making (MCDM) methodology. Appropriate criteria are determined which have an influence on the effectiveness of alternative financing After that, these criteria are weighted by using DEMATEL approach based on Gaussian fuzzy sets. Ese factors pave the way for both top managers and academicians Another important novelty of this proposed model is considering three different fuzzy sets in the evaluation process. Another comparative evaluation with a different MCDM model can examine the appropriateness of the analysis results, as well
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