An Application of the Portfolio Investment Choices with Multi-Purpose Decision Making Methods in Emerging Countries
Öz
In this study, it is aimed to guide in foreign investors' decisions on portfolio investment decisions by using multi-purpose decision making techniques. To this end, G7 countries were identified as investors. As countries to be invested, selected countries in the Balkans were included in the analysis. Criteria used during the analysis are economic and locally defined as two main factors and their sub-factors. AHP method was used as multi-purpose decision making techniques to determine the weight of the criteria and MOORA was used to determine the Balkan country to be invested. As a result, findings show that for making investment decision to a country, country’s GNP amounts, commercial climate and investment freedom about the country are the most effective factors but geographic distance and information cost factors are the least effective factors.
Anahtar Kelimeler
Kaynakça
- Abid, F. & Bahloul, S. (2011). Selected MENA countries attractiveness to G-7 investors. Economic Modelling, 28(5), 2197-2207.
- Başoğlu, U. (2000). Finansal serbestleşme ve uluslararası portföy yatırımları[Financial liberalisation and international portfolio investments]. Balıkesir Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 3(4), 87-99.
- Brauers, W. K. M. & Zavadskas, E. K. (2006). The MOORA method and its application to privatization in a transition economy. Control and Cybernetics, 35(2), 445-469.
- Brauers, W. K. M. & Zavadskas, E. K. (2012). Robustness of MULTIMOORA: a method for multiobjective optimization. Informatica, 23(1), 1-25.
- Brauers, W. K. M., Ginevicius, R. & Podvezko, V. (2010). Regional development in Lithuania considering multiple objectives by the MOORA method. Technological and Economic Development of Economy, 16(4), 613-640.
- Brinson, G., Hood, L. & Beebower G. (1986). Determinants of portfolio performance. Financial Analysts Journal, July/August, 39-48. doi: https://doi.org/10.2469 /faj.v51.n1.1869
- Çolak, Ö. F. (2012). Balkan ülkelerine yönelik sermaye hareketleri: Bulgaristan Örneği [Capital movements towards the Balkan countries: The case of Bulgaria]. Ö. F. Çolak (Ed), Avrupa Birliğine giriş sürecinde Balkanlarla ilişkiler ve Türkiye ekonomisi. Ankara: Türkiye Ekonomi Kurumu.
- Dağdeviren, M. & Eren T. (2001). Tedarikçi firma seçiminde Analitik Hiyerarşi Prosesi ve 0-1 hedef programlama yöntemlerinin kullanılması[Analytical hierarchy process and use 0-1 goal programming methods in selecting supplier firm]. Gazi Üniversitesi Mühendislik-Mimarlık Fakültesi Dergisi, 16(2), 41-52. https://doi.org/10.17341/gummfd.36633
- Dağdeviren, M. Akay, D. & Kurt M. (2004). İş değerlendirme sürecinde Analitik Hiyerarşi Prosesi ve uygulaması [Analytical hierarchy process and its implications in job evaluation process]. Gazi Üniversitesi Mühendislik-Mimarlık Fakültesi Dergisi, 19(2), 131-138. Doi: https://doi.org/10.17341/gummfd.81697
- Dalalah, D. AL-Oqla, F. ve & Hayajneh M. (2010). Application of the analytic hierarchy process (AHP) in multicriteria analysis of the selection of cranes. Jordan Journal of Mechanical and Industrial Engineering, 4(5), 567-578.
