Analysis of the Studies for the Application of Multi-Criteria Decision Making Methods in Finance Sector

Yıl 2018, , 1 - 16, 31.12.2018

Hasan Dinçer , Serhat Yüksel

https://doi.org/10.38009/ekimad.487483

Cited By: 17

Öz

Making decisions
today is one of the most important problems in almost every area. In
particular, when the number of criteria and alternatives increase, the decision
becomes more difficult. Multi-criteria decision-making methods are methods
developed to solve this problem effectively. These methods are used in many
different sectors such as construction, energy and health. In parallel with
these, it is seen that the related methods are frequently preferred in the
field of finance. The aim of this study is to analyze the studies conducted for
the application of multi criteria decision making methods in the financial
sector. In this framework, 7 basic multi-criteria decision-making methods (AHP,
ANP, DEMATEL, TOPSIS, VIKOR, ELECTRE and MOORA) were included in the study. As
a result of the examinations, it is seen that the mentioned methods are
generally taken into consideration in terms of performance measurement,
efficiency analysis, evaluation of financial projects and selection of the most
successful stock. On the other hand, it has been determined that DEMATEL method
is preferred more in comparison with AHP and ANP methods in the calculation of
the weights of the selected criteria. In addition, the MOORA, TOPSIS and VIKOR
methods are used to rank different alternatives. Considering these issues, it
is thought that a new study performed by ELECTRE method will contribute to the
literature because this approach is not used much in finance field. However, it
is evident that handling other methods under hesitant or type-2 fuzzy logic
will increase the originality of the study.

Anahtar Kelimeler

Finance, Multiple Criteria Decision Making Methods, Literature Analysis

Çok Kriterli Karar Verme Yöntemlerinin Finans Sektöründeki Uygulamasına Yönelik Yapılmış Çalışmaların Analizi

Öz

Günümüzde
karar vermek hemen her alanda önemli sorunlardan birini oluşturmaktadır.
Özellikle kriterlerin ve alternatiflerin sayısının çoğaldığı durumlarda, karar
vermek daha da zor hale gelmektedir. Çok kriterli karar verme yöntemleri
belirtilen bu sorunun etkin bir şekilde çözülmesi amacıyla geliştirilmiş olan
yöntemlerdir. Bahsi geçen bu yöntemler inşaat, enerji ve sağlık gibi çok farklı
sektörlerde kullanılmaktadır. Bunlara paralel olarak, ilgili yöntemlerin finans
alanında da sıklıkla tercih edildiği görülmektedir. Bu çalışmanın amacı çok
kriterli karar verme yöntemlerinin finans sektöründeki uygulamasına yönelik
yapılmış olan çalışmaların analiz edilmesidir. Bu çerçevede, 7 temel çok
kriterli karar verme yöntemi (AHP, ANP, DEMATEL, TOPSIS, VIKOR, ELECTRE ve
MOORA) inceleme kapsamına alınmıştır. Yapılan incelemeler neticesinde, adı
geçen yöntemlerin genel olarak, performans ölçümü, etkinlik analizi, finansal
projelerin değerlendirilmesi ve en başarılı hisse senedi seçimi gibi konularda
dikkate alındığı görülmektedir. Öte yandan, belirtilen bu amaçlara yönelik
seçilen kriterlerin önem ağırlıklarının hesaplanmasında DEMATEL yönteminin
özellikle son yıllarda AHP ve ANP yöntemlerine kıyasla daha fazla tercih
edildiği belirlenmiştir. Buna ek olarak, farklı alternatiflerin sıralanmasında
ise genellikle MOORA, TOPSIS ve VIKOR yöntemlerinin kullanıldığı
anlaşılmaktadır. Bu hususlar dikkate alındığında, finans alanında çok fazla
kullanılmayan ELECTRE yöntemiyle yapılacak yeni bir çalışmanın literatüre katkı
sağlayacağı düşünülmektedir. Bununla birlikte, diğer yöntemlerin de sezgisel
veya tip-2 bulanık mantık altında ele alınmasının çalışmanın orijinalliğini
arttıracağı ortadadır. 

Anahtar Kelimeler

Finans, Çok Kriterli Karar Verme Yöntemleri, Literatür Analizi

Kaynakça

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