Determining Objective Characteristics of MCDM Methods under Uncertainty: An Exploration Study with Financial Data

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dc.contributor.authorBaydas, Mahmut
dc.contributor.authorPamucar, Dragan
dc.date.accessioned2024-02-23T14:35:13Z
dc.date.available2024-02-23T14:35:13Z
dc.date.issued2022
dc.departmentNEÜen_US
dc.description.abstractA major difficulty in comparing and even choosing MCDM methods is the uncertainty of information about the consistent and unique characteristics of the results produced. The objective information content of the final scores produced by MCDM methods and their relevance to real life can give us an important idea about them. In this study, first of all, seven MCDM methods with different methodologies were applied to evaluate companies' financial performance. Then, the obtained MCDM scores were compared using two different objective verification mechanisms. The first validation criterion is the relationship of a MCDM method to real-life rankings (share price). The second criterion is the standard deviation (SD) technique used to discover the objective information content of MCDM final scores. According to the results of this study, PROMETHEE and FUCA definitely outperform other methods in terms of both SD values and strength of correlation with reference real-life rankings. Also, FUCA is methodologically simpler than other methods. However, it produced nearly identical results as the sophisticated PROMETHEE method.en_US
dc.identifier.doi10.3390/math10071115
dc.identifier.issn2227-7390
dc.identifier.issue7en_US
dc.identifier.scopus2-s2.0-85127972437en_US
dc.identifier.urihttps://doi.org/10.3390/math10071115
dc.identifier.urihttps://hdl.handle.net/20.500.12452/15932
dc.identifier.volume10en_US
dc.identifier.wosWOS:000781789900001en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherMdpien_US
dc.relation.ispartofMathematicsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectMulti Criteria Analysisen_US
dc.subjectMcdm Comparisonen_US
dc.subjectShare Priceen_US
dc.subjectStandard Deviationen_US
dc.subjectFinancial Performanceen_US
dc.titleDetermining Objective Characteristics of MCDM Methods under Uncertainty: An Exploration Study with Financial Dataen_US
dc.typeArticleen_US

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