Evaluating stock performance and governance in commercial banks: a decision analytics perspective

Vinay Kumar Shaw, Sanjib Biswas, Gautam Bandyopadhyay and Prasenjit Chatterjee

International Journal of Indian Culture and Business Management, 2025, vol. 36, issue 2, 243-284

Abstract: This paper aims to conduct a comparative assessment of stock performance and governance in leading commercial banks, while exploring the link between the two. The study utilises an integrated multi-criteria decision making (MCDM) framework, combining logarithmic percentage change-driven objective weighting (LOPCOW) and compromise ranking of alternatives from distance to ideal solution (CRADIS) for a period of ten consecutive financial years from 2010-2011 to 2019-2020. The Borda count method is employed to aggregate ranking results across different years. The findings indicate that private sector banks outperformed their public sector counterparts in terms of stock performance and governance. Furthermore, a significant positive association between stock performance and governance is observed. A comparative analysis with different MCDM methods and a sensitivity analysis have been done to ensure solution stability and reliability. Overall, this study provides decision makers with a comprehensive and objective measurement of stock performance and governance of banks across multiple periods.

Keywords: bank performance; stock market; Basel III; multi-criteria decision making; MCDM; LOPCOW; CRADIS; Borda count. (search for similar items in EconPapers)
Date: 2025
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