An integrated multiple objective decision making approach for exploring the competitiveness of pharmaceutical multinational enterprises

Minh-Hieu Le () and Wen-Min Lu ()
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Minh-Hieu Le: Ton Duc Thang University
Wen-Min Lu: Chinese Culture University

Annals of Operations Research, 2024, vol. 341, issue 1, No 16, 426 pages

Abstract: Abstract This study integrated multiple objective decision-making approaches including data envelopment analysis (DEA), rough set theory and TOPSIS method for exploring the competitiveness of pharmaceutical multinational enterprises. Firstly, this study applied an advanced two-stage network DEA to measure the R&D efficiency and business performance of pharmaceutical multinational enterprises (PMNEs) listed in the Forbes Global 2000 and ranked these PMNEs by using rough set theory, DEA and TOPSIS method. In addition, differences in environmental, social, and governance (ESG) performance across three continents were investigated. Findings show that North America is significantly the best (worst) region in terms of business performance (R&D efficiency) while Europe is significantly the best (worst) region in terms of R&D efficiency (business performance). Alfresa Holdings Corporation, a PMNE from Japan, is the only PMNE that is efficient from both an R&D and business performance perspective. European PMNEs have significantly better environmental and social performance than other regions, however, they have the worst governance performance. Overall, this study provides insights to managers and investors into the application of various methods for accurately measuring performance and ranking multinational enterprises.

Keywords: Rough set theory; TOPSIS; Data envelopment analysis (DEA); ESG performance; Pharmaceutical industry (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10479-022-04743-y

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