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Performance Evaluation of Construction Companies Using Integrated Entropy-Fuzzy VIKOR Model.

Weng Siew Lam1, Weng Hoe Lam1, Saiful Hafizah Jaaman2

  • 1Department of Physical and Mathematical Science, Faculty of Science, Kampar Campus, Universiti Tunku Abdul Rahman, Jalan Universiti, Bandar Barat, Kampar 31900, Malaysia.

Entropy (Basel, Switzerland)
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Summary
This summary is machine-generated.

This study introduces a new model to assess construction company financial performance in Malaysia, unaffected by the COVID-19 pandemic. ECONBHD demonstrated the best financial health using the integrated entropy-fuzzy VIKOR method.

Keywords:
entropyfinancial ratiofuzzy VIKORmulti-criteria decision makingresearch framework

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Area of Science:

  • Economic Development
  • Financial Performance Analysis
  • Construction Industry Dynamics

Background:

  • The construction sector is vital for national economic development and infrastructure growth.
  • Company financial performance reflects its health and status, crucial for economic indicators.
  • The COVID-19 pandemic has significantly impacted construction sector operations and financial performance.

Purpose of the Study:

  • To propose a novel multi-criteria decision-making (MCDM) model for evaluating construction company financial performance.
  • To integrate the entropy and fuzzy VIKOR methods for a comprehensive financial assessment.
  • To address the gap in existing literature regarding integrated entropy-fuzzy VIKOR models for construction financial evaluation.

Main Methods:

  • Development of an integrated entropy-fuzzy VIKOR model for financial performance evaluation.
  • Application of the proposed MCDM model to listed construction companies in Malaysia.
  • Utilizing financial ratios as criteria for performance assessment within the model.

Main Results:

  • The integrated entropy-fuzzy VIKOR model successfully evaluated and compared the financial performance of Malaysian construction companies.
  • ECONBHD was identified as the company with the best financial performance during the study period.
  • The study determined the priority of financial ratios and ranked construction companies based on their performance.

Conclusions:

  • The proposed entropy-fuzzy VIKOR model provides a robust framework for assessing financial performance in the construction sector.
  • The findings offer valuable insights for investors and stakeholders in evaluating construction companies.
  • This research contributes a new methodological approach to financial performance analysis in uncertain environments.