Evaluating the performance of Colombian banks by hybrid multicriteria decision making methods
Author (Corporation)
Publication date
2020
Typ of student thesis
Course of study
Collections
Type
01A - Journal article
Editors
Editor (Corporation)
Supervisor
Parent work
Journal of Business Economics and Management
Special issue
DOI of the original publication
Link
Series
Series number
Volume
21
Issue / Number
6
Pages / Duration
1707-1730
Patent number
Publisher / Publishing institution
Vilnius Gediminas Technical University
Place of publication / Event location
Edition
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Abstract
The aim of the study in this paper is to show how the performance of banks can be evaluated by ranking them based on Balanced Scorecard (BSC) and Multicriteria Decision Making (MCDM) methods. Nowadays, assessing the performance of companies is a vital work for finding their weaknesses and strengths. The banking sector is an important area in the service sector. Many people want to know which bank performs best when entrusting their money to them. For assessing the performance of banks, BSC can be used. This method helps to translate strategic issues to meaningful insights for the respective financial institutions. After that, the banks will be ranked based on performance indicators by the Weighted Aggregated Sum Product Assessment (WASPAS) method. Because this method is based on a decision matrix, weights are required. To find such weights, the Step-wise Weight Assessment Ratio Analysis (SWARA) method is applied. The results show that the International Bank of Colombia has a much better performance than other Colombian banks. Besides, further insights regarding the evaluation process based on BSC, SWARA, and WASPAS are obtained.
Keywords
Subject (DDC)
330 - Wirtschaft
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ISBN
ISSN
2029-4433
1611-1699
1611-1699
Language
English
Created during FHNW affiliation
Yes
Strategic action fields FHNW
Publication status
Published
Review
Peer review of the complete publication
Open access category
Gold
License
Citation
YAZDI, Amir Karbassi, Thomas HANNE und Juan Carlos OSORIO GÓMEZ, 2020. Evaluating the performance of Colombian banks by hybrid multicriteria decision making methods. Journal of Business Economics and Management. 2020. Bd. 21, Nr. 6, S. 1707–1730. DOI 10.3846/jbem.2020.11758. Verfügbar unter: https://doi.org/10.26041/fhnw-6898