An Integrated Group Decision Making Support Model for Corporate Financing Decisions

Wen-Hsien Tsai (), Ching-Chien Yang (), Jun- Der Leu (), Ya-Fen Lee () and Chih-Hao Yang ()
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Wen-Hsien Tsai: National Central University
Ching-Chien Yang: Chung Chou University of Science and Technology
Jun- Der Leu: National Central University
Ya-Fen Lee: National Central University
Chih-Hao Yang: National Central University

Group Decision and Negotiation, 2013, vol. 22, issue 6, No 5, 1103-1127

Abstract: Abstract The essential goal of corporate finance is to maximize corporate value while reducing a firm’s financial risks. Corporate financing decision is a kind of multi-criteria based group decision making that embodies major approaches to handle qualitative criteria and quantitative limitations. However, in literature related to financing decision making, very little research uses decision making trial and evaluation laboratory (DEMATEL) and analytic network process (ANP) methods to consider the impact and dependency of its factors, or uses Goal programming (GP) to find the satisfactory financing decision under the related financial constraints. This study proposes an integrated group decision making support (GDMS) model to assist corporate financing group decision makers (DMs) in obtaining a satisfactory group solution. ANP, DEMATEL and GP are combined in this GDMS model. By using this model, the group DMs can systemically structure a multi-criteria network framework and derive priority weights of those criteria, and then deal with the quantitative financial constraints for a satisfactory group solution. An illustrative case is demonstrated for the effectiveness and practicability of this GDMS model.

Keywords: Group decision making support (GDMS); Decision making trial and evaluation laboratory (DEMATEL); Analytic network process(ANP); Goal programming (GP) (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (4)

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DOI: 10.1007/s10726-012-9308-4

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