Multidimensional Performance Evaluation Using the Hybrid MCDM Method: A Case Study in the Turkish Non-Life Insurance Sector
The aim of this study is to assess and rank the financial and service network performance of seven Turkish non-life insurance companies from 2018 to 2022 using the ENTROPY- MEREC - MACONT decision model. The study evaluates multidimensional firm performance based on selected performance indicators....
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| Format: | Article |
| Language: | English |
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Mehmet Akif Ersoy University
2024-06-01
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| Series: | Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi |
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| Online Access: | https://dergipark.org.tr/en/download/article-file/3737813 |
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| author | Mehmet Zafer Taşcı |
| author_facet | Mehmet Zafer Taşcı |
| author_sort | Mehmet Zafer Taşcı |
| collection | DOAJ |
| description | The aim of this study is to assess and rank the financial and service network performance of seven Turkish non-life insurance companies from 2018 to 2022 using the ENTROPY- MEREC - MACONT decision model. The study evaluates multidimensional firm performance based on selected performance indicators. The weights of these indicators were determined using ENTROPY and MEREC (method based on the removal effects of criteria) procedures. The MACONT (mixed aggregation by comprehensive normalization technique) procedure is used to obtain the multidimensional performance ranking of non-life insurance companies over time. The results of the MEREC and ENTROPY procedures indicate that the number of agencies, asset size, technical profit, and return on assets are generally effective criteria for the multidimensional performance of non-life insurance companies. The MACONT ranking results show that company IC2 had the best multidimensional performance during the analysis period. The validity and consistency of the results of the proposed decision model were tested using various sensitivity analyses. |
| format | Article |
| id | doaj-art-d7fdd558623d4fd9a7c5f485761d2aaa |
| institution | Kabale University |
| issn | 2149-1658 |
| language | English |
| publishDate | 2024-06-01 |
| publisher | Mehmet Akif Ersoy University |
| record_format | Article |
| series | Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi |
| spelling | doaj-art-d7fdd558623d4fd9a7c5f485761d2aaa2025-01-27T13:10:30ZengMehmet Akif Ersoy UniversityMehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi2149-16582024-06-0111285488310.30798/makuiibf.1439172273Multidimensional Performance Evaluation Using the Hybrid MCDM Method: A Case Study in the Turkish Non-Life Insurance SectorMehmet Zafer Taşcı0https://orcid.org/0000-0001-5848-259XSİVAS CUMHURİYET ÜNİVERSİTESİ, ZARA VEYSEL DURSUN UYGULAMALI BİLİMLER YÜKSEKOKULU, SİGORTACILIK BÖLÜMÜThe aim of this study is to assess and rank the financial and service network performance of seven Turkish non-life insurance companies from 2018 to 2022 using the ENTROPY- MEREC - MACONT decision model. The study evaluates multidimensional firm performance based on selected performance indicators. The weights of these indicators were determined using ENTROPY and MEREC (method based on the removal effects of criteria) procedures. The MACONT (mixed aggregation by comprehensive normalization technique) procedure is used to obtain the multidimensional performance ranking of non-life insurance companies over time. The results of the MEREC and ENTROPY procedures indicate that the number of agencies, asset size, technical profit, and return on assets are generally effective criteria for the multidimensional performance of non-life insurance companies. The MACONT ranking results show that company IC2 had the best multidimensional performance during the analysis period. The validity and consistency of the results of the proposed decision model were tested using various sensitivity analyses.https://dergipark.org.tr/en/download/article-file/3737813insurancemultidimensional performanceentropymerecmacont |
| spellingShingle | Mehmet Zafer Taşcı Multidimensional Performance Evaluation Using the Hybrid MCDM Method: A Case Study in the Turkish Non-Life Insurance Sector Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi insurance multidimensional performance entropy merec macont |
| title | Multidimensional Performance Evaluation Using the Hybrid MCDM Method: A Case Study in the Turkish Non-Life Insurance Sector |
| title_full | Multidimensional Performance Evaluation Using the Hybrid MCDM Method: A Case Study in the Turkish Non-Life Insurance Sector |
| title_fullStr | Multidimensional Performance Evaluation Using the Hybrid MCDM Method: A Case Study in the Turkish Non-Life Insurance Sector |
| title_full_unstemmed | Multidimensional Performance Evaluation Using the Hybrid MCDM Method: A Case Study in the Turkish Non-Life Insurance Sector |
| title_short | Multidimensional Performance Evaluation Using the Hybrid MCDM Method: A Case Study in the Turkish Non-Life Insurance Sector |
| title_sort | multidimensional performance evaluation using the hybrid mcdm method a case study in the turkish non life insurance sector |
| topic | insurance multidimensional performance entropy merec macont |
| url | https://dergipark.org.tr/en/download/article-file/3737813 |
| work_keys_str_mv | AT mehmetzafertascı multidimensionalperformanceevaluationusingthehybridmcdmmethodacasestudyintheturkishnonlifeinsurancesector |