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Evaluating the performance of Colombian banks by hybrid multicriteria decision making methods

    Amir Karbassi Yazdi   Affiliation
    ; Thomas Hanne   Affiliation
    ; Juan Carlos Osorio Gómez   Affiliation

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.

Keyword : weighted aggregated sum product assessment, step-wise weight assessment ratio analysis, balanced scorecard, performance evaluation, multicriteria decision analysis, banking sector

How to Cite
Yazdi, A. K., Hanne, T., & Osorio Gómez, J. C. (2020). Evaluating the performance of Colombian banks by hybrid multicriteria decision making methods. Journal of Business Economics and Management, 21(6), 1707-1730. https://doi.org/10.3846/jbem.2020.11758
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Oct 19, 2020
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This work is licensed under a Creative Commons Attribution 4.0 International License.

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