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SECTOR ANALYSIS OF TURKISH MARKETS USING THE PROMETHEE METHOD

Year 2020, Volume: 9 Issue: 3, 196 - 208, 30.09.2020

Hakan Altın

https://doi.org/10.17261/Pressacademia.2020.1296

Abstract

Purpose- This study has two main objectives. The first is to describe the solutions possible with the PROMETHEE method. The second is related to an analysis of sector performance in Turkish markets.
Methodology- The PROMETHEE method was used in the study. PROMETHEE is one of the multi-criteria decision-making MCDM methods. The best-known methods are PROMETHEE I and PROMETHEE II.
Findings- According to the PROMETHEE II method, the best-performing sectors in 2014-2016 were Manufacturing, Transportation and Storage, Information and Communications, Electricity, Gas, Steam and Airconditioning Supply, Human Health and Social Work, Wholesale and Retail Trade, Construction, Accommodation, and Food, respectively.
Conclusion- While Manufacturing and Transportation, Storage and Information, and Communications ranked in the top tiers in sector performance as expected, the Construction sector did not perform well, contrary to our expectations.

Keywords

PROMETHEE I PROMETHEE II Multi-Criteria Decision-Making (MCDM) Decision Maker Sector Analysis

References

  • Athawale, V. M., and Chakraborty, S. (2010). Facility Layout Selection Using PROMETHEE II Method. IUP Journal of Operations Management, 9.
  • Avikal, S., Mishra, P. K., Jain, R., and Yadav, H. C. (2013). A PROMETHEE method-based heuristic for disassembly line balancing problem. Industrial Engineering and Management Systems, 12(3), 254-263.
  • Ballı, S., and Karasulu, B. (2007). A Fuzzy PROMETHEE Method Application for the Most Suitable Car Selection Problem. D.E.Ü.İ.İ.B.F. Journal, 22(1), 139-147.
  • Bogdanovic, D., Nikolic, D., and Ilic, I. (2012). Mining method selection by integrated AHP and PROMETHEE method. Anais da Academia Brasileira de Ciências, 84(1), 219-233.
  • Brans, J. P., and De Smet, Y. (2016). PROMETHEE methods. In Multiple criteria decision analysis (pp. 187-219). Springer, New York, NY.
  • Brans, J. P., Vincke, P., and Mareschal, B. (1986). How to select and how to rank projects: The PROMETHEE method. Main objectivesEuropean journal of operational research, 24(2), 228-238.
  • Cavallaro, F. (2005). An integrated multi-criteria system to assess sustainable energy options: an application of the PROMETHEE method.
  • Chen, C. T., Hung, W. Z., and Cheng, H. L. (2011). Applying linguistic PROMETHEE method in inandstment portfolio decision-making. International Journal of Electronic Business Management, 9(2), 139.
  • Corrente, S., Figueira, J. R., and Greco, S. (2014). The smaa-promethee method. European Journal of Operational Research, 239(2), 514-522.
  • Dağdeviren, M. (2008). Decision-making in equipment selection: an integrated approach with AHP and PROMETHEE. Journal of intelligent manufacturing, 19(4), 397-406.
  • Dağdeviren, M., and Erarslan, E. (2008). Supplier selection with PROMETHEE sorting method. Gazi University Engineering-Architecture Faculty Journal, 23(1).
  • Gul, M., Celik, E., Gumus, A. T., and Guneri, A. F. (2018). A fuzzy logic based PROMETHEE method for material selection problems. Beni-Suef Uniandrsity Journal of Basic and Applied Sciences, 7(1), 68-79.
  • Halouani, N., Chabchoub, H., and Martel, J. M. (2009). PROMETHEE-MD-2T method for project selection. European Journal of Operational Research, 195(3), 841-849.
  • Mikaeil, R., Abdollahı, K. M., Sadegheslam, G., and Ataei, M. (2015). Ranking sawability of dimension stone using PROMETHEE method.
  • Qu, S., Li, H., and Guo, X. (2011). Application of Interval-PROMETHEE Method for Decision-making in Inandsting. ORSC and APORC, 314-321.
  • Safari, H., Fagheyi, M. S., Ahangari, S. S., and Fathi, M. R. (2012). Applying PROMETHEE method based on entropy weight for supplier selection. Business management and strategy, 3(1), 97-106.
  • Sungur, O., and Işık Maden, S. (2016). Ranking of TR61 Region (Antalya, Isparta, Burdur) Manufacturing Industry Sectors by PROMETHEE Method. Ege Academic Review, 16(4).
  • Sündüs, D., and Yıldırım, F.B. (2018) Multiple Criteria Decision-making Methods for the Solution of Operational, Managerial and Strategic Problems for Operators, Engineers and Managers, Promethee, 177- 199. 3. Edition, Dora Publishing-Bursa.
  • Veza, I., Celar, S., and Peronja, I. (2015). Competences-based comparison and ranking of industrial enterprises using PROMETHEE method. Procedia Engineering, 100(Supplement C), 445-449.
  • Vulević, T., and Dragović, N. (2017). Multi-criteria decision analysis for sub-watersheds ranking via the PROMETHEE method. International Soil and Water Conservation Research, 5(1), 50-55.
  • Wang, T. C., Chen, L. Y., and Chen, Y. H. (2008). Applying fuzzy PROMETHEE method for evaluating IS outsourcing suppliers. In 2008 Fifth International Conference on Fuzzy Systems and Knowledge Discovery (Vol. 3, pp. 361-365). IEEE.
  • Yilmaz, B., and Dağdeviren, M. (2011). A combined approach for equipment selection: F-PROMETHEE method and zero–one goal programming. Expert Systems with Applications, 38(9), 11641-11650.
  • Zhaoxu, S., and Min, H. (2010, June). Multi-criteria decision-making based on PROMETHEE method. In 2010 International Conference on Computing, Control and Industrial Engineering (Vol. 1, pp. 416-418). IEEE.

Year 2020, Volume: 9 Issue: 3, 196 - 208, 30.09.2020

Hakan Altın

https://doi.org/10.17261/Pressacademia.2020.1296

Abstract

References

  • Athawale, V. M., and Chakraborty, S. (2010). Facility Layout Selection Using PROMETHEE II Method. IUP Journal of Operations Management, 9.
  • Avikal, S., Mishra, P. K., Jain, R., and Yadav, H. C. (2013). A PROMETHEE method-based heuristic for disassembly line balancing problem. Industrial Engineering and Management Systems, 12(3), 254-263.
  • Ballı, S., and Karasulu, B. (2007). A Fuzzy PROMETHEE Method Application for the Most Suitable Car Selection Problem. D.E.Ü.İ.İ.B.F. Journal, 22(1), 139-147.
  • Bogdanovic, D., Nikolic, D., and Ilic, I. (2012). Mining method selection by integrated AHP and PROMETHEE method. Anais da Academia Brasileira de Ciências, 84(1), 219-233.
  • Brans, J. P., and De Smet, Y. (2016). PROMETHEE methods. In Multiple criteria decision analysis (pp. 187-219). Springer, New York, NY.
  • Brans, J. P., Vincke, P., and Mareschal, B. (1986). How to select and how to rank projects: The PROMETHEE method. Main objectivesEuropean journal of operational research, 24(2), 228-238.
  • Cavallaro, F. (2005). An integrated multi-criteria system to assess sustainable energy options: an application of the PROMETHEE method.
  • Chen, C. T., Hung, W. Z., and Cheng, H. L. (2011). Applying linguistic PROMETHEE method in inandstment portfolio decision-making. International Journal of Electronic Business Management, 9(2), 139.
  • Corrente, S., Figueira, J. R., and Greco, S. (2014). The smaa-promethee method. European Journal of Operational Research, 239(2), 514-522.
  • Dağdeviren, M. (2008). Decision-making in equipment selection: an integrated approach with AHP and PROMETHEE. Journal of intelligent manufacturing, 19(4), 397-406.
  • Dağdeviren, M., and Erarslan, E. (2008). Supplier selection with PROMETHEE sorting method. Gazi University Engineering-Architecture Faculty Journal, 23(1).
  • Gul, M., Celik, E., Gumus, A. T., and Guneri, A. F. (2018). A fuzzy logic based PROMETHEE method for material selection problems. Beni-Suef Uniandrsity Journal of Basic and Applied Sciences, 7(1), 68-79.
  • Halouani, N., Chabchoub, H., and Martel, J. M. (2009). PROMETHEE-MD-2T method for project selection. European Journal of Operational Research, 195(3), 841-849.
  • Mikaeil, R., Abdollahı, K. M., Sadegheslam, G., and Ataei, M. (2015). Ranking sawability of dimension stone using PROMETHEE method.
  • Qu, S., Li, H., and Guo, X. (2011). Application of Interval-PROMETHEE Method for Decision-making in Inandsting. ORSC and APORC, 314-321.
  • Safari, H., Fagheyi, M. S., Ahangari, S. S., and Fathi, M. R. (2012). Applying PROMETHEE method based on entropy weight for supplier selection. Business management and strategy, 3(1), 97-106.
  • Sungur, O., and Işık Maden, S. (2016). Ranking of TR61 Region (Antalya, Isparta, Burdur) Manufacturing Industry Sectors by PROMETHEE Method. Ege Academic Review, 16(4).
  • Sündüs, D., and Yıldırım, F.B. (2018) Multiple Criteria Decision-making Methods for the Solution of Operational, Managerial and Strategic Problems for Operators, Engineers and Managers, Promethee, 177- 199. 3. Edition, Dora Publishing-Bursa.
  • Veza, I., Celar, S., and Peronja, I. (2015). Competences-based comparison and ranking of industrial enterprises using PROMETHEE method. Procedia Engineering, 100(Supplement C), 445-449.
  • Vulević, T., and Dragović, N. (2017). Multi-criteria decision analysis for sub-watersheds ranking via the PROMETHEE method. International Soil and Water Conservation Research, 5(1), 50-55.
  • Wang, T. C., Chen, L. Y., and Chen, Y. H. (2008). Applying fuzzy PROMETHEE method for evaluating IS outsourcing suppliers. In 2008 Fifth International Conference on Fuzzy Systems and Knowledge Discovery (Vol. 3, pp. 361-365). IEEE.
  • Yilmaz, B., and Dağdeviren, M. (2011). A combined approach for equipment selection: F-PROMETHEE method and zero–one goal programming. Expert Systems with Applications, 38(9), 11641-11650.
  • Zhaoxu, S., and Min, H. (2010, June). Multi-criteria decision-making based on PROMETHEE method. In 2010 International Conference on Computing, Control and Industrial Engineering (Vol. 1, pp. 416-418). IEEE.
There are 23 citations in total.

Details

Primary Language English
Subjects Finance, Business Administration
Journal Section Articles
Authors

Hakan Altın This is me 0000-0002-0012-0016

Publication Date September 30, 2020
Published in Issue Year 2020 Volume: 9 Issue: 3

Cite

APA Altın, H. (2020). SECTOR ANALYSIS OF TURKISH MARKETS USING THE PROMETHEE METHOD. Journal of Business Economics and Finance, 9(3), 196-208. https://doi.org/10.17261/Pressacademia.2020.1296

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