Weight Assessment Ratio Analysis Method Research Articles

A hybrid neuro fuzzy decision-making approach to the participants of derivatives market for fintech investors in emerging economies

The risk profiles of investors play an important role in the success of derivative products investments. It is also necessary to determine the appropriate investor profile according to the conditions of a country. This protects investors from major losses. Therefore, there is a strong need for a new study that analyzes the risk profiles of derivative products in emerging economies. This study aims to identify the most appropriate investor risk profile for derivative instruments in emerging economies. It constructs a novel decision-making model. In this model, the facial action coding system, quantum theory, spherical fuzzy sets, and multi-stepwise weight assessment ratio analysis (M-SWARA) methodology are integrated to minimize uncertainty in this process. First, three main participants of derivatives for financial technology investors are evaluated using the quantum spherical fuzzy M-SWARA technique. After that, seven emerging economies are ranked based on this performance using quantum spherical fuzzy technique for order of preference by similarity to ideal solution. The main contribution is that an appropriate investor profile is identified for financial derivative investments in emerging economies. One of the important originalities of this study is the development of a new technique called M-SWARA by making some improvements to the classical stepwise weight assessment ratio analysis method. It is concluded that hedging is the most appropriate purpose for making investments in derivative products in emerging economies. It is also identified that China has the greatest performance among the seven emerging economies regarding the appropriate purpose for making derivative investments. For the effective management of this problem in these countries, it is recommended to prevent the speculative use of derivative products with legal regulations.

Evaluation of Green Marketing Strategies by Considering Sustainability Criteria

The purpose of this study is to identify and prioritize green marketing strategies in the food industry by taking sustainability goals into consideration since it is very difficult to prioritize and select green marketing strategies when considering sustainability criteria in their implementation. Therefore, it is necessary to use an appropriate solution to prioritize these strategies. For this purpose, sustainability criteria and green marketing strategies are recognized. Then, sustainability criteria are screened using the fuzzy Delphi method. Subsequently, using the fuzzy stepwise weight assessment ratio analysis method, the criteria are weighted according to expert recommendations. Next, green marketing strategies in the Iranian food industry are ranked using several fuzzy multiple criteria decision-making methods: fuzzy additive ratio assessment, fuzzy complex proportional assessment, fuzzy technique for order preference by similarity to the ideal solution, and fuzzy Viekriterijumsko Kompromisno Rangiranje methods. Finally, the results are integrated with the help of the Copeland method to choose the best strategies. The results indicated that the criteria of ‘minimizing waste’, ‘minimizing environmental impacts’, and ‘consumer participation’ had the highest weight. In addition, the strategies for the ‘development of waste reduction technology, ‘development of market research to detect green needs’, and ‘use of recycled or reusable materials in products’ received a higher rank.

A framework for interactive risk assessment in projects: case study of oil and gas megaprojects in presence of sanctions

PurposeThis study aims to investigate the interactive network of risk factors in the construction and preparation project of gas condensate storage tanks in the presence of sanctions.Design/methodology/approachFirst, this paper determines and weighs the project goals using the stepwise weight assessment ratio analysis method. Then, this study identifies and categorizes the project risks and form the network of the project risk factors based on the weight of the project goals by using interpretive structural modeling and decision-making trial and evaluation laboratory techniques.FindingsThe results of the current work divide the risks of such projects into five financial, technical, managerial and contractual, social and environmental and political categories. The analyzes indicate the complicated risk network and the cause-and-effect interactions between the risks. The findings identify the financial and political risk clusters as the most effective category and select the technical, managerial and contractual and social and environmental risk clusters as the most affected categories. The technical risk has the least important among the others under the sanction conditions.Originality/valueThis paper model the domino effect of the risk factors considering the complicated interactions and the cause-and-effect relations in a network. Moreover, this study discusses the importance of the risk factors in oil and gas megaprojects in the presence of sanctions. Finally, this paper applies the proposed approach to a real case study in the field of gas projects.

An Integrated Sustainable and Flexible Supplier Evaluation Model under Uncertainty by Game Theory and Subjective/Objective Data: Iranian Casting Industry

According to the rapid growth of sustainability in supply chain management in recent years, experts are encouraged to consider more detailed social and environmental factors in their assessment models. In our proposed model for investigating the mentioned factors in more real condition and to obtain superior indices, the best–worst method and stepwise weight assessment ratio analysis method have been suggested for subjective and objective data which have been prepared based on specialist opinion and real registered data, respectively. Game theory has been applied to explore more appropriate combinations of subjective and objective weights and decreasing the conflicts, while DEMATEL was employed to define the internal relationship of the criteria. For tackling the inhomogeneous information and input data’s uncertainty, Dempster–Shafer theory has been applied. Finally for assessment of the proposed model, real data from an Iranian Casting Factory would have been considered for sustainable/flexible supplier selection.

THE RESIDENCE PLOT SELECTION MODEL FOR FAMILY HOUSE IN VILNIUS BY NEUTROSOPHIC WASPAS METHOD

Good quality dwelling and the environment are related to the values of citizens’ existence. It can be highlighted as important questions in creating a sustainable living environment. The research and analysis carried out so far include global planning of the plot of a particular country or city according to economic aspects. Meanwhile, our model, which covers the key social aspects of choosing a residential house, will fill this gap. We propose an original problem formulated which includes the planning of the plot of a particular city according to economic, environmental and social aspects. Our work aims to investigate the criteria for the selection of single-family houses and to develop a theoretical evaluation model based on decision-making methods. The presented study deals with the problem of selecting a one-family house plot using the Weighted Aggregate Sum Product Assessment Methods (WASPAS) and the Step-Wise Weight Assessment Ratio Analysis Method (SWARA). During the research, parameters related to plot selection were evaluated: infrastructure, distance, cost, privacy, security and aesthetic view.

Development of a firm export performance measurement model using a hybrid multi-attribute decision-making method

PurposeThe present study is aimed to develop a firm export performance measurement model. Increased levels of globalization are forcing firms, especially SMEs (i.e. small and medium-sized enterprises) and entrepreneurial firms, to enter new markets and increase their exports. Consequently, export performance measurement has become a vital tool for achieving competitive advantages, and this type of measurement is considered an important topic of research in the field of international marketing. However, the literature lacks a comprehensive framework for measuring export performance, even though many criteria for gauging this performance's parameters have been discovered and applied.Design/methodology/approachA literature review was conducted, and the most important criteria for export performance measurement was identified using weights obtained by stepwise weight assessment ratio analysis method. Then, the export performance of five firms was evaluated using the additive ratio assessment method with interval-valued triangular fuzzy numbers.FindingsThe 15 most significant criteria were identified and categorized into three dimensions: economic, strategic, and other. The strategic dimension was identified as the most important, while the criteria “strategic goals achievement” and “return on investment” were found to be the most relevant.Practical implicationsA comprehensive framework including a definitive set of the most prominent, useful evaluation criteria was established which enables both scholars and practitioners to assess export performance.Originality/valueThe current study attempts to fill the gaps in the literature by presenting a comprehensive framework for export performance measurement.

An Integrated Multi-Criteria and Multi-Objective Optimization Approach for Establishing the Transport Plan of Intercity Trains

The development of the transport plan must take into account various criteria impacting the transport process. The main objective of the study is to propose an integrated approach to determine the transport plan of passenger trains. The methodology consists of five steps. In the first step, the criteria for optimization of the transport plan were defined. In the second step, variants of the transport plan were formulated. In the third step, the weights of the criteria are determined by applying the step-wise weight assessment ratio analysis method (SWARA) multi-criteria method. The multi-objective optimization was conducted in the fourth step. The following multi-objective optimization approaches were used and compared: weighted sum method (WSM), compromise programming method (CP), and the epsilon–constraint method (EC). The study proposes a modified epsilon–constraint method (MEC) by applying normalization of each objective function according to the maximal value of the solution by individual optimization for each objective function, and hybrid methods: hybrid WSM and EC, hybrid WSM and MEC, hybrid CP and EC, and Hybrid CP and MEC. The impact of the variation of passenger flows on the choice of an optimal transport plan was studied in the fifth step. The Laplace’s criterion, Hurwitz’s criterion, and Savage’s criterion were applied to come to a decision. The approbation of the methodology was demonstrated through the case study of Bulgaria’s railway network. Suitable variant of transport plan is proposed.

Multicriteria ranking of the influential factors of safety as criteria for development of the occupational safety and health climate

The research in this article aimed at determining the importance of occupational safety and health (OSH) factors at work as criteria for development of the OSH climate. Based on the views of 28 responsible persons of the OSH management system, the significance of the criteria was determined using the rough step-wise weight assessment ratio analysis method. The obtained results show that development of the OSH climate in organizations primarily depends on the factors of the work environment and the commitment of the management to the OSH system. The results also point out that education of employees in the field of safety at work has a significant impact. A comparison of the obtained results was made in the sensitivity analysis using the full consistency method. The specific dimensions of the safety climate at work were determined and ranking of the OSH factors was performed.

A multi-criteria decision-making framework for agriculture supply chain risk management under a circular economy context

PurposeThe implementation of circular economy strategies is one of the central objectives of several governments seeking a transition toward a sustainable development. Circular economy in agriculture deals with the production of agricultural commodities making an efficient use of resources and avoiding unnecessary waste and carbon emission generation. Disruptions in the production and supply of critical agricultural products can have serious negative repercussions for firms and consumers of the food supply chain. In recent decades, disruptions generated by natural disasters such as hurricanes, thunderstorms and floods have greatly impacted social communities and industrial sectors. Supply chain risks approaches are seen to contribute key elements to address the impacts of natural disaster toward the implementation of circular economy in agriculture, helping to prevent collapses in the production and supply of food. The purpose of this paper is to study and identify flood risk drivers and their effects on the sustainability of an agriculture supply chain in connection with a circular economy strategy. By using an extended Step-wise Weight Assessment Ratio Analysis method combined with a multi-criteria decision analysis, the most essential flood drivers with a degree of importance are reported here. Then, the authors propose an Evaluation of Data based on average ASsessment method, to rank different agricultural projects that pretend to mitigate the flood risks and its impacts on crop areas. The application of this research lies within the framework of a real agricultural project founded by the European Commission Scientific Section, called RUC-APS.Design/methodology/approachThe authors use management science-based tools to address circular economy in agriculture. The authors propose a multi-criteria-based methodology to assess the risks of flooding in crops areas. To validate the proposed methodology, a case example from Spain is discussed to rank different agricultural projects that pretend to mitigate the flood risks and its impacts on crop areas.FindingsThe proposed multi-criteria methodology confirmed a successful application to rank different agricultural projects that pretend to mitigate the flood risks and its impacts on crop areas. Organizations and firms in the agricultural business can use the methodology to identify risks drivers and to detect the best projects to mitigate the highest impacts of flooding risks in crops areas.Originality/valueThe authors use supply chain risks approaches to address the impacts of natural disaster on the implementation of circular economy in agriculture. The authors propose a robust multi-criteria-based methodology to assess the risks of flooding in crops areas and we used to determine the best mitigating projects to face flooding risks on crop areas.

A Novel Multicriteria Approach – Rough Step-Wise Weight Assessment Ratio Analysis Method (R-SWARA) and Its Application in Logistics

A Novel Multicriteria Approach – Rough Step-Wise Weight Assessment Ratio Analysis Method (R-SWARA) and Its Application in Logistics

An extended stepwise weight assessment ratio analysis (SWARA) method for improving criteria prioritization process

The process of criteria prioritization and weighting is an important part of multiple attributes decision making. The most frequently applied multi-attribute decision-making weighting tools include analytical hierarchy process, stepwise weight assessment ratio analysis, factor relationship, and best---worst method. When policies are at the core of decision making, stepwise weight assessment ratio analysis method is the most efficient method for criteria evaluation. It involves two important steps: the first is to prioritize the criteria by consulting experts, while the second is the weighting process. This research seeks to extend stepwise weight assessment ratio analysis to improve the quality of the decision-making process by incorporating the reliability evaluation of experts' idea into the first step. Such a component is absent from the first step in all other similar models. Thus, an extended version of stepwise weight assessment ratio analysis can be applied for such evaluation. To test the applicability and performance of the proposed method, a numerical example from an earlier study was used. The proposed version can replace the classic version in future studies as an improved method in decision-making area.

Pristup ponderisane sume preferiranih nivoa performansi u rešavanju problema u menadžmentu ljudskih resursa

In the modern market and in competitive business conditions, human resources are the basis of achieving a long-term success and the key resource of competitive advantage. Therefore, employees represent one of the main strategic resources of an organization. The process of the recruitment and selection of personnel plays an extremely important role in human resources management, which tends to provide an organization with motivated and competent personnel. Therefore, the main objective of the paper is to present an approach to solving problems in human resource management, i.e. personnel selection, based on a recently developed multiple-criteria decision making method. The methodology used in the paper is based on the Weighted Sum Preferred Levels of Performances (WS PLP) method adapted for the purpose of an analysis based on decision-makers' preferred levels of performances. The weights of the criteria are determined by using the Step-wise Weight Assessment Ratio Analysis method (the SWARA method). The final ranking order is established by using the weighted averaging operator. Usefulness and efficiency of the proposed approach are considered in the numerical example for the selection of the HR manager. As a result, WS PLP approach can be used for solving personnel selection problems. The proposed multiple-criteria decision-making based approach is easy to use, effective, applicable and adaptable, depending on the goal we want to achieve. In order to solve problems in other areas, the proposed approach can be easily modified.

SELECTION OF RATIONAL DISPUTE RESOLUTION METHOD BY APPLYING NEW STEP‐WISE WEIGHT ASSESSMENT RATIO ANALYSIS (SWARA)

The paper considers major principles of application of the multi‐attribute systems to solve legislative tasks. In order to assess dispute resolution methods from economic, social and other points of view, it is necessary to apply methods for assessing solutions according to multiple attributes. All known multi‐attribute methods cannot value the atribute weights as one weight of attribute is higher or lower significant than the other attribute. The new step‐wise weight assessment ratio analysis method (SWARA) allows including experts, lawyers or dispute parties opinion about significance ratio of the attributes in the process of rational decision determination. SWARA method could be applied in practical implementation of specialised decision support systems and alternative dispute resolution in virtual environment. Starting with principles and established approaches, a problem‐structuring methodology was developed which would condition the problem to allow a more thoughtful application of existing decision‐making analytic methodologies. Santrauka Darbe nagrinejami daugiakriterines analizes taikymo galimybes ir principai teisiniams uždaviniams spresti. Siekiant ekonominiu, socialiniu ar kitu aspektu ivertinti ginču sprendimo būdu alternatyvas, būtina taikyti metodus, ivertinančius šias alternatyvas apibūdinančius kriterijus. Tačiau visi žinomi daugiakriteriniai metodai nevertina, kiek rodikliai, apibūdinantys alternatyvas, yra vienas už kita svar‐besni ar ne tokie reikšmingi. Pasiūlytas naujas kriteriju svoriu nustatymo metodas, pagristas nuose‐kliu laipsnišku poriniu kriteriju santykines svarbos lyginimu (angl. Step‐Wise Weight Assessment Ratio Analysis ‐ SWARA), leidžia priimant sprendimus ivertinti ekspertu, advokatu ar ginčo šaliu nuomo‐ne apie rodikliu reikšmingumu skirtumus. SWARA metodas gali būti taikomas kuriant specializuotas sprendimu paramos sistemas, skirtas racionaliam ginču sprendimo būdui parinkti ar ginčams spresti alternatyviais būdais virtualioje aplinkoje. Darbe trumpai apžvelgti ginču sprendimo būdai, sukurtas ju vertinimo ir lyginimo metodas, kuris sekmingai galetu būti taikomas ir kitiems uždaviniams spresti.