A comparative performance evaluation on bipolar risks in emerging capital markets using fuzzy AHP-TOPSIS and VIKOR approaches

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dc.authorid0000-0002-0068-0048
dc.authorid0000-0002-8072-031X
dc.contributor.authorHacıoğlu, Ümit
dc.contributor.authorDinçer, Hasan
dc.date.accessioned10.07.201910:49:13
dc.date.accessioned2019-07-10T19:57:04Z
dc.date.available10.07.201910:49:13
dc.date.available2019-07-10T19:57:04Z
dc.date.issued2015
dc.departmentİstanbul Medipol Üniversitesi, İşletme ve Yönetim Bilimleri Fakültesi, Uluslararası Ticaret ve Finansman Bölümü
dc.descriptionWOS: 000357110300002
dc.description.abstractEffective decision making in the financial markets is an important issue for individual and institutional investors in a competitive and risky environment. However, the majority of the investors do not integrate conflict hazards with financial risks in this environment. Accordingly, the best way to select the right market for profitable investments requires the evaluation of bipolar risks covering conflict risk and financial risk using multi-criteria decision-making approaches. The aim of the paper is to discover the comparative performance of emerging markets based on the bipolar risks of the capital markets using hybrid multi-criteria decision analysis methods in economics. Fuzzy AHP-TOPSIS ( FAHP) and Fuzzy AHP-VIKOR methods were used to analyze the financial and conflict risk-based performance levels of selected emerging economies. The seven determinants in this model have been derived from the Advanced and Emerging Market Financial Stress Index and Conflict risk index. The findings demonstrate that the comprehensive performance results of the emerging markets vary based on the competencies of the bipolar risks. The two methods, with different steps for ordering the alternatives, had the same performance results in ranking the emerging economies. The overall performance of each method demonstrates that both methods give coherent results in ranking the E7 economies under the fuzzy environment. The originality of the study is that the FAHP gives more sensitive results than classic AHP method in evaluating the alternatives under a fuzzy environment. In addition, a comparative analysis was applied to evaluate the bipolar risk-based performance results using a hybrid approach under the fuzzy environment.
dc.identifier.citationHacıoğlu, Ü. ve Dinçer, H. (2015). A comparative performance evaluation on bipolar risks in emerging capital markets using fuzzy AHP-TOPSIS and VIKOR approaches. Engineering Economics, 26(2), 118-129. https://dx.doi.org/10.5755/j01.ee.26.2.3591
dc.identifier.doi10.5755/j01.ee.26.2.3591
dc.identifier.endpage129
dc.identifier.issn1392-2785
dc.identifier.issn2029-5839
dc.identifier.issue2
dc.identifier.scopusqualityQ1
dc.identifier.startpage118
dc.identifier.urihttps://dx.doi.org/10.5755/j01.ee.26.2.3591
dc.identifier.urihttps://hdl.handle.net/20.500.12511/2889
dc.identifier.volume26
dc.identifier.wosqualityQ3
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherKauno Technologijos Universitetas
dc.relation.ispartofEngineering Economicsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectEmerging Economies
dc.subjectCapital Markets
dc.subjectFuzzy
dc.subjectAHP
dc.subjectVIKOR
dc.subjectTOPSIS
dc.titleA comparative performance evaluation on bipolar risks in emerging capital markets using fuzzy AHP-TOPSIS and VIKOR approaches
dc.typeArticle

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