Performance Evaluation of Construction Companies Using Integrated Entropy–Fuzzy VIKOR Model

Lam Weng Siew · Saiful Hafizah Jaaman · Liew Kah Fai

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Multi-Criteria Decision Making Financial Analysis and Corporate Governance Evaluation Methods in Various Fields

Abstract

The construction sector plays an important role in a country's economic development. The financial performance of a company is a good indicator of its financial health and status. In Malaysia, the government encourages the construction industry to develop an advanced infrastructure related to health, transport, education and housing. In view of the COVID-19 pandemic, the operations and financial performance of construction sector companies have been affected recently. Additionally, uncertainty plays a vital role in the multi-criteria decision-making (MCDM) process. Based on previous studies, there has been no comprehensive study conducted on the evaluation of the financial performance of construction companies by integrating entropy and fuzzy VIKOR models. Therefore, this paper aims to propose an MCDM model to evaluate and compare the financial performance of construction companies with an integrated entropy-fuzzy VIKOR model. A case study is carried out by evaluating the listed construction companies in Malaysia with the proposed model. The findings of this paper indicate that the company ECONBHD achieves the best financial performance over the study period. The significance of this paper is to determine the priority of the financial ratios and ranking of the construction companies with the proposed entropy-fuzzy VIKOR model.

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References

1965Fuzzy sets 1996Fuzzy sets 2003Compromise solution by MCDM methods: A comparative analysis of VIKOR and TOPSIS 2006Extended VIKOR method in comparison with outranking methods 2015Multi-Criteria Inventory Classification Using a New Method of Evaluation Based on Distance from Average Solution (EDAS)2020The Impact of the COVID-19 Pandemic on Firm Performance 2010A performance evaluation model by integrating fuzzy AHP and fuzzy TOPSIS methods 2004Multi-criteria analysis of alternative-fuel buses for public transportation

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