The use of multicriteria knowledge-based systems in financial risk management

Abstract

This paper investigates the contribution of knowledge-based decision support systems in the modeling of financial decision problems. Knowledge-based decision support systems (KBDSSs) originated from the combination of decision support systems (DSSs) with the expert systems’ (ESs) technology, and they have recently started to attract the interest of financial and operational researchers, as well as professionals financial and credit analysts, managers of firms and banks, investors, stockbrokers, etc. The paper discusses the general methodological framework of KBDSSs, illustrates their relative advantages and benefits as opposed to the classical DSS and ES framework, and presents the FINCLAS DSS and the FINEVA KBDSS for the modeling of financial decision problems regarding the assessment of corporate performance and viability.