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Article
Publication date: 22 February 2022

Na Zhang and Shuli Yan

In the process of group decision-making, there may be multilayer subjects. In other words, members of the decision-making group may come from different layers and there is…

Abstract

Purpose

In the process of group decision-making, there may be multilayer subjects. In other words, members of the decision-making group may come from different layers and there is interest game among decision experts. Therefore, it is an extremely important topic to aggregate the information of decision experts who are involved in hierarchical relations and gaming relations so as to effectively address game conflicts and reach game cooperation.

Design/methodology/approach

First, a programming model is established to minimize the difference of expert opinions in hierarchical decision-making, and the method to solve the optimal solution is given. Second, the cooperative game model and its properties are discussed by using cooperative game and Shapley value, and the method to determine the weight vector between layers is also proposed.

Findings

This model can quickly aggregate information and achieve game equilibrium among decision-makers with hierarchical relationships. It can be widely used in decision evaluation with hierarchy structure and has certain practical value.

Originality/value

In order to solve the problem that experts at different levels may have conflicts of interest in multilayer grey situation group decision-making process, cooperative game and Shapley value theory are introduced into the study, and a multilayer grey situation group decision-making model based on cooperative game is constructed. The validity and practicability of the model are illustrated by an example.

Details

Grey Systems: Theory and Application, vol. 12 no. 4
Type: Research Article
ISSN: 2043-9377

Keywords

Book part
Publication date: 28 June 2023

Babak Zamani

This chapter aims to identify, analyse, classify and rank the sustainability indices and internationalisation challenges of the footwear industry in the emerging economy of Iran…

Abstract

This chapter aims to identify, analyse, classify and rank the sustainability indices and internationalisation challenges of the footwear industry in the emerging economy of Iran. This would provide deeper decision-making insights into Iranian footwear businesses. First, a list of sustainability indices and internationalisation challenges was obtained by reviewing the literature. Then, a combination of multi-criteria decision-making (MCDM) approaches was implemented. The initial sustainability indices and internationalisation challenges were screened using the fuzzy Delphi method, keeping a total of 14 criteria. The best–worst method (BWM) was employed to weigh and rank the criteria. The interpretive structural modelling (ISM) technique and cross-impact matrix applied in MICMAC were employed to visualise the conceptual model based on the levels and classification of the important criteria for the internationalisation of the Iranian footwear industry. The 14 criteria were demonstrated to be important in internationalisation. The most critical sustainability indices were reducing hazardous substances in leather tanning and labour education and training. In contrast, exchange rate instability in Iran’s economy and strict chemical regulations for clothing and footwear were found to be the most important internationalisation challenges. Hence, these criteria should be considered in the internationalisation strategies of the Iranian footwear industry. A combined multilayer sustainable decision-making approach was used to analyse the Iranian footwear industry’s essential sustainability indices and internationalisation challenges. Furthermore, implications and insights are offered to footwear businesses for future decision-making.

Details

Decision-Making in International Entrepreneurship: Unveiling Cognitive Implications Towards Entrepreneurial Internationalisation
Type: Book
ISBN: 978-1-80382-234-1

Keywords

Article
Publication date: 3 May 2022

Nikolaos Stylos

This paper aims to critically review the underlying assumptions and theoretical conceptualizations of duality theories in general. In particular, the paper seeks to augment McCabe…

Abstract

Purpose

This paper aims to critically review the underlying assumptions and theoretical conceptualizations of duality theories in general. In particular, the paper seeks to augment McCabe et al.’s (2016) reconceptualization of consumer decision-making in tourism. Additionally, the paper offers an integrated duality theory model.

Design/methodology/approach

A critical discussion of the basic assumptions, recent advances and constructive criticism of duality theories found in the extant literature prefaces a detailed account of McCabe et al.’s (2016) new general tourist choice model. The author enriches and expands the conceptualization of this model and offers an advanced dual-process theoretical framework for decision-making with a broader range of variables, greater versatility, and suggestions for future research.

Findings

The findings indicate mental processes with broader external inputs (stimuli) with possible outputs (decisions/behaviors) warrant inclusion and expansion in a fulsome dual-systems model of tourist decision-making.

Research limitations/implications

This research study adds to the literature of duality theories in consumer decision-making. While factors, contexts, personal preferences and other dimensions in the tourism industry are and will continue to be fluid over time, this study offers an integrated decision-making framework that provides clear linkages that mark pathways for new developments, future research and practitioner applications.

Originality/value

The integrated duality theory framework enables researchers and destination management organizations managers to acquire enhanced explanatory and predictive value of tourism decision-making, which can lead to offering improved products/services. The model’s emphasis on simultaneous engagement of both heuristic and analytic dual processes reflects fundamental human nature; decision-making can be “both/and” as well as “either/or” with heuristic and analytic processes.

Details

International Journal of Contemporary Hospitality Management, vol. 34 no. 7
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 1 June 2021

Hannan Amoozad Mahdiraji, Madjid Tavana, Pouya Mahdiani and Ali Asghar Abbasi Kamardi

Customer differences and similarities play a crucial role in service operations, and service industries need to develop various strategies for different customer types. This study…

Abstract

Purpose

Customer differences and similarities play a crucial role in service operations, and service industries need to develop various strategies for different customer types. This study aims to understand the behavioral pattern of customers in the banking industry by proposing a hybrid data mining approach with rule extraction and service operation benchmarking.

Design/methodology/approach

The authors analyze customer data to identify the best customers using a modified recency, frequency and monetary (RFM) model and K-means clustering. The number of clusters is determined with a two-step K-means quality analysis based on the Silhouette, Davies–Bouldin and Calinski–Harabasz indices and the evaluation based on distance from average solution (EDAS). The best–worst method (BWM) and the total area based on orthogonal vectors (TAOV) are used next to sort the clusters. Finally, the associative rules and the Apriori algorithm are used to derive the customers' behavior patterns.

Findings

As a result of implementing the proposed approach in the financial service industry, customers were segmented and ranked into six clusters by analyzing 20,000 records. Furthermore, frequent customer financial behavior patterns were recognized based on demographic characteristics and financial transactions of customers. Thus, customer types were classified as highly loyal, loyal, high-interacting, low-interacting and missing customers. Eventually, appropriate strategies for interacting with each customer type were proposed.

Originality/value

The authors propose a novel hybrid multi-attribute data mining approach for rule extraction and the service operations benchmarking approach by combining data mining tools with a multilayer decision-making approach. The proposed hybrid approach has been implemented in a large-scale problem in the financial services industry.

Article
Publication date: 1 September 2020

Hannan Amoozad Mahdiraji, Khalid Hafeez, Hamidreza Kord and AliAsghar Abbasi Kamardi

This paper analyses the voice of customers (VoCs) using a hybrid clustering multi-criteria decision-making (MCDM) approach. The proposed method serves as an efficient tool for how…

Abstract

Purpose

This paper analyses the voice of customers (VoCs) using a hybrid clustering multi-criteria decision-making (MCDM) approach. The proposed method serves as an efficient tool for how to approach multiple decision-making involving a large set of countrywide customer complaints in the Iranian automotive sector.

Design/methodology/approach

The countrywide data comprising 3,342 customer complaints (VoCs) were gathered. A total of seven determinant complaint criteria were identified in brainstorming sessions with three groups (six each) of experts employing the fuzzy Delphi method. The weights of these criteria were assigned by applying the fuzzy best–worst method (FBWM) to identify the severity of the complaints. Subsequently, the complaints were clustered into five categories with respective customer locations (province), car type and manufacturer using the K-mean method and further prioritised and ranked employing the fuzzy complex proportional assessment of alternatives (FCOPRAS) method.

Findings

The results indicated that the majority of complaints (1,027) from the various regions of the country belonged to one specific model of car made by a particular producer. The analyses revealed that only a few complaints were related to product quality, with the majority related to service and financial processes including delays in automobile delivery, delays in calculating monthly instalments, price variation, failure to provide a registration ( licence) and failure to supply the agreed product. The proposed method is an efficient way to solve large-scale multidimensional problems and provide a robust and reliable set of results.

Practical implications

The proposed method makes it much easier for management to deal with complaints by significantly reducing their number. The highest-ranked complaints from customers of the car industry in Iran are those related to delivery time, price alternations, customer service support and quality issues. Surveying the list of complaints shows that paying attention to the four most voiced complaints can reduce them more than 54%. Management can make appropriate strategies to improve the production quality as well as business processes, thus producing a significant number of customer complaints.

Originality/value

This paper proposes a comprehensive approach to critically analyse the VoCs by combining qualitative and decision-making approaches including K-mean, FCOPRAS, fuzzy Delphi and FBWM. This is the first paper that analyses the VoCs in the automotive sector in a developing country’s context involving large-scale decision-making problem-solving.

Details

Management Decision, vol. 60 no. 2
Type: Research Article
ISSN: 0025-1747

Keywords

Content available
Book part
Publication date: 28 June 2023

Abstract

Details

Decision-Making in International Entrepreneurship: Unveiling Cognitive Implications Towards Entrepreneurial Internationalisation
Type: Book
ISBN: 978-1-80382-234-1

Article
Publication date: 2 August 2013

Dominik Mahr, Nikos Kalogeras and Gaby Odekerken‐Schröder

Insufficient attention to the specific nature of healthy food experiences might limit the success of related innovations. The purpose of this article is to adopt a value‐in‐use…

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Abstract

Purpose

Insufficient attention to the specific nature of healthy food experiences might limit the success of related innovations. The purpose of this article is to adopt a value‐in‐use perspective to conceptualize healthy food consumption as experiential and emotional, rather than the mere intake of nutrition, and to examine the development of healthy food communication with a service science approach.

Design/methodology/approach

With a service science approach, this study proposes a virtual healthy food platform for children. The key data come from internal project documents, workshops with children and other stakeholders (e.g. parents, teachers), and interviews with project team members.

Findings

The simultaneity of functional and hedonic benefits, implications for multiple stakeholders, social norms, and need for expertise characterize healthy food experiences. The proposed framework accounts for enablers, principles, outcomes, and challenges affecting the development of communication integral to healthy food experiences, using project data and tools as illustrations.

Research limitations/implications

This study contributes to growing literature on service science by introducing key principles and contingency factors that influence the success of experience‐centric service innovations. Quantitative research should validate the established framework and investigate the elements' relative usefulness for developing healthy food communication.

Practical implications

The service science approach involves multiple stakeholders, empathic data collection, and visual tools to develop an entertaining platform to help children learn about healthy food.

Originality/value

This research conceptualizes and validates healthy food experiences as value‐in‐use offerings. The proposed service science approach accounts for the interactions among stakeholders, the holistic nature, and specificities of a real‐life decision context for improving healthy food experiences.

Details

Journal of Service Management, vol. 24 no. 4
Type: Research Article
ISSN: 1757-5818

Keywords

Article
Publication date: 2 August 2022

Seema Rani and Mukesh Kumar

Community detection is a significant research field in the study of social networks and analysis because of its tremendous applicability in multiple domains such as recommendation…

Abstract

Purpose

Community detection is a significant research field in the study of social networks and analysis because of its tremendous applicability in multiple domains such as recommendation systems, link prediction and information diffusion. The majority of the present community detection methods considers either node information only or edge information only, but not both, which can result in loss of important information regarding network structures. In real-world social networks such as Facebook and Twitter, there are many heterogeneous aspects of the entities that connect them together such as different type of interactions occurring, which are difficult to study with the help of homogeneous network structures. The purpose of this study is to explore multilayer network design to capture these heterogeneous aspects by combining different modalities of interactions in single network.

Design/methodology/approach

In this work, multilayer network model is designed while taking into account node information as well as edge information. Existing community detection algorithms are applied on the designed multilayer network to find the densely connected nodes. Community scoring functions and partition comparison are used to further analyze the community structures. In addition to this, analytic hierarchical processing-technique for order preference by similarity to ideal solution (AHP-TOPSIS)-based framework is proposed for selection of an optimal community detection algorithm.

Findings

In the absence of reliable ground-truth communities, it becomes hard to perform evaluation of generated network communities. To overcome this problem, in this paper, various community scoring functions are computed and studied for different community detection methods.

Research limitations/implications

In this study, evaluation criteria are considered to be independent. The authors observed that the criteria used are having some interdependencies, which could not be captured by the AHP method. Therefore, in future, analytic network process may be explored to capture these interdependencies among the decision attributes.

Practical implications

Proposed ranking can be used to improve the search strategy of algorithms to decrease the search time of the best fitting one according to the case study. The suggested study ranks existing community detection algorithms to find the most appropriate one.

Social implications

Community detection is useful in many applications such as recommendation systems, health care, politics, economics, e-commerce, social media and communication network.

Originality/value

Ranking of the community detection algorithms is performed using community scoring functions as well as AHP-TOPSIS methods.

Details

International Journal of Web Information Systems, vol. 18 no. 5/6
Type: Research Article
ISSN: 1744-0084

Keywords

Open Access
Article
Publication date: 12 July 2024

Stiven Agusta, Fuad Rakhman, Jogiyanto Hartono Mustakini and Singgih Wijayana

The study aims to explore how integrating recent fundamental values (RFVs) from conventional accounting studies enhances the accuracy of a machine learning (ML) model for…

Abstract

Purpose

The study aims to explore how integrating recent fundamental values (RFVs) from conventional accounting studies enhances the accuracy of a machine learning (ML) model for predicting stock return movement in Indonesia.

Design/methodology/approach

The study uses multilayer perceptron (MLP) analysis, a deep learning model subset of the ML method. The model utilizes findings from conventional accounting studies from 2019 to 2021 and samples from 10 firms in the Indonesian stock market from September 2018 to August 2019.

Findings

Incorporating RFVs improves predictive accuracy in the MLP model, especially in long reporting data ranges. The accuracy of the RFVs is also higher than that of raw data and common accounting ratio inputs.

Research limitations/implications

The study uses Indonesian firms as its sample. We believe our findings apply to other emerging Asian markets and add to the existing ML literature on stock prediction. Nevertheless, expanding to different samples could strengthen the results of this study.

Practical implications

Governments can regulate RFV-based artificial intelligence (AI) applications for stock prediction to enhance decision-making about stock investment. Also, practitioners, analysts and investors can be inspired to develop RFV-based AI tools.

Originality/value

Studies in the literature on ML-based stock prediction find limited use for fundamental values and mainly apply technical indicators. However, this study demonstrates that including RFV in the ML model improves investors’ decision-making and minimizes unethical data use and artificial intelligence-based fraud.

Details

Asian Journal of Accounting Research, vol. 9 no. 4
Type: Research Article
ISSN: 2459-9700

Keywords

Article
Publication date: 14 April 2014

Hussein A. Abdou, Shaair T. Alam and James Mulkeen

This paper aims to distinguish whether the decision-making process of the Islamic financial houses in the UK can be improved through the use of credit scoring modeling techniques…

Abstract

Purpose

This paper aims to distinguish whether the decision-making process of the Islamic financial houses in the UK can be improved through the use of credit scoring modeling techniques as opposed to the currently used judgmental approaches. Subsidiary aims are to identify how scoring models can reclassify accepted applicants who later are considered as having bad credit and how many of the rejected applicants are later considered as having good credit, and highlight significant variables that are crucial in terms of accepting and rejecting applicants, which can further aid the decision-making process.

Design/methodology/approach

A real data set of 487 applicants is used consisting of 336 accepted credit applications and 151 rejected credit applications made to an Islamic finance house in the UK. To build the proposed scoring models, the data set is divided into training and hold-out subsets. The training subset is used to build the scoring models, and the hold-out subset is used to test the predictive capabilities of the scoring models. Seventy per cent of the overall applicants will be used for the training subset, and 30 per cent will be used for the testing subset. Three statistical modeling techniques, namely, discriminant analysis, logistic regression (LR) and multilayer perceptron (MP) neural network, are used to build the proposed scoring models.

Findings

The findings reveal that the LR model has the highest correct classification (CC) rate in the training subset, whereas MP outperforms other techniques and has the highest CC rate in the hold-out subset. MP also outperforms other techniques in terms of predicting the rejected credit applications and has the lowest misclassification cost above other techniques. In addition, results from MP models show that monthly expenses, age and marital status are identified as the key factors affecting the decision-making process.

Originality/value

This contribution is the first to apply credit scoring modeling techniques in Islamic finance. Also in building a scoring model, the authors' application applies a different approach by using accepted and rejected credit applications instead of good and bad credit histories. This identifies opportunity costs of misclassifying credit applications as rejected.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 7 no. 1
Type: Research Article
ISSN: 1753-8394

Keywords

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