Applying an integrated data-driven weighting system – CoCoSo approach for financial performance evaluation of Fortune 500 companies

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2023-09-01 DOI:10.15240/tul/001/2023-3-006

Nazli Ersoy

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引用次数: 0

Abstract

Financial performance evaluation provides information about a firm’s liquidity position, profitability, capital structure and asset utilization. Financial performance evaluation is considered as a multi-criteria decision making (MCDM) problem, as it is a multidimensional concept that is realized by bringing together multiple indicators. This study is aimed to evaluate the financial performance of the Fortune 500 companies by using the integrated data-driven weighting system (IDDWS) – combined compromise solution (CoCoSo) approach. The criteria weights were calculated with the IDDWS and the companies were ranked by the CoCoSo method. In the last stage, a three-stage sensitivity analysis was performed to test the robustness of the model. In the first stage, 15 scenarios were defined by changing the criteria weights. In the second stage, the rankings of the CoCoSo method were compared with the other MCDM methods [range of value (ROV), proximity indexed value (PIV), complex proportional assessment (COPRAS), Biswas and Saha’s method]. In the third stage, a sensitivity analysis was conducted under five different scenarios based on different δ parameters. It was determined that the rankings obtained as a result of the sensitivity analysis show small deviations and except for a few companies, the ranking of most companies remained the same. The results show that the proposed model is suitable for measuring financial performance and Alphabet performs best. The suitability of the proposed model for measuring financial performance was tested for the first time. It is thought that the comparative use of many MCDM methods through a comprehensive sensitivity analysis will contribute to the literature.

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将综合数据驱动加权系统——CoCoSo方法应用于财富500强企业的财务绩效评估

财务绩效评价提供了有关公司流动性状况、盈利能力、资本结构和资产利用的信息。财务绩效评价被认为是一个多标准决策问题，因为它是一个多维的概念，是通过多个指标的集合来实现的。本研究旨在采用综合数据驱动加权系统(IDDWS) -结合折衷解决方案(CoCoSo)方法对财富500强企业的财务绩效进行评估。采用IDDWS法计算各指标权重，采用CoCoSo法对各公司进行排名。最后，进行三阶段敏感性分析以检验模型的稳健性。在第一阶段，通过改变标准权重定义了15个场景。在第二阶段，将CoCoSo方法与其他MCDM方法(ROV)、接近指标值(PIV)、复合比例评估(COPRAS)、Biswas和Saha方法)的排名进行比较。第三阶段，基于不同的δ参数对5种不同情景进行敏感性分析。通过敏感性分析得出的排名偏差较小，除少数公司外，大多数公司的排名保持不变。结果表明，所提出的模型适用于财务绩效的衡量，Alphabet表现最好。本文首次对所提出的财务绩效衡量模型的适用性进行了检验。人们认为，通过综合敏感性分析，比较使用许多MCDM方法将有助于文献。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.