PERFORMANCE RANKING OF TURKISH INSURANCE COMPANIES: THE ANP APPLICATION

Ilyas Akhisar [1]

615 780

Decision making concept can be defined as selection process choosing one of the options, if the outcomes are not certain. In practice it is not sufficient to evaluate the options according to the simplest form of decision making only based on a criterion. In such cases, we must consider all the variety of different information to decide to best option. It arise the requirement of multi-criteria decision making methods.AHP (Analytical Hierarch Process) is a technique that models the relations which are different stage. On the other hand that technique is insufficient to evaluate interdependency relations. The ANP (Analytic Network Process) has the ability to add all the criteria related with the issue. The method of the ANP can be described as follows. The Şrst phase of the ANP is to compare the criteria in whole system to form the supermatrix. This is done through pairwise comparisons by asking experts. The Şrst step of the ANP is to compare the importance between each criterion. The next step is to calculate the influence of the elements (criteria) in each component (matrix) using the eigenvalue method.In this research, financial performans ranking of Turkish Insurance companies, which large-scaled business in non-life branches, are obtained for the period 2006-2010 using financial ratios of companies and applying the ANP model which was developed with the superdecision software

Decision making concept can be defined as selection process choosing one of the options, if the

outcomes are not certain. In practice it is not sufficient to evaluate the options according to the simplest

form of decision making only based on a criterion. In such cases, we must consider all the variety of different

information to decide to best option. It arise the requirement of multi-criteria decision making methods.

AHP (Analytical Hierarch Process) is a technique that models the relations which are different stage.

On the other hand that technique is insufficient to evaluate interdependency relations. The ANP (Analytic

Network Process) has the ability to add all the criteria related with the issue. The method of the ANP can

be described as follows. The first phase of the ANP is to compare the criteria in whole system to form the

supermatrix. This is done through pairwise comparisons by asking experts.

The first step of the ANP is to compare the importance between each criterion. The next step is to

calculate the influence of the elements (criteria) in each component (matrix) using the eigenvalue method.

In this research, financial performans ranking of Turkish Insurance companies, which large-scaled

business in non-life branches, are obtained for the period 2006-2010 using financial ratios of companies

and applying the ANP model which was developed with the superdecision software.

Keywords: ANP, performance ranking, Turkish insurance sector, financial ratios

  • Amaratunga, D. & Baldry, D. 2000a, Performance Evaluation in Facilities Management: Using the Balanced Scorecard Approach. In the proceedings of COBRA 2000 RICS (Construction and Building Research Conference). Royal Naval College, University of Greenwich, UK., 1-16.
  • Bassioni, H.A., Price, A.D.F. and Hassan, T.M., 2004, Performance Measurement in Construction Firms. Journal of Management in Engineering, 20(2), 42–50.
  • Evangelidizs, K., 1992, Performance measured is performance gained. The Treasurer, February, 45–47.
  • Kagioglou, M., Cooper, R. and Aouad, G., 2001, Performance management in construction: A conceptual framework Construction Management and Economics, 19(1), 85–95.
  • Kaplan, R. S., and Norton, D. P., 1992, The Balanced ScorecardMeasures That Drive Performance. Harvard Business Review, 70(1), 71–79.
  • Lin ,C.T., Lee, C. and Wu, C.S., 2009, Optimizing a Marketing Expert Decision Process for the Private Hotel’ , Expert Systems with Applications,36 5613–5619.
  • Meade, L.M., 1996, A Methodology for the Formulation of Agile Critical Business Process, PhD Thesis, The University of Texas at Arlington.
  • Meade, L. M. & Sarkis, J., 1999, Analyzing Organizational Project Alternatives for Agile Manufacturing Processes-An Analytical Network Approach. International Journal of Production Research 37, 241-261.
  • Saaty, T.L., 1990, How to Make a Decision: The Analytical Hierarchy Process. European Journal of Operational Research, 48 (1) 9-26
  • Saaty, T.L., 1996, Decision Making with Dependence and Feedback: The Analytic Network Process, Pittsburgh, Pennsylvania: RWS Publications.
  • Saaty, T.L & Ozdemir, M.S., 2005, The Encyclical: A Dictionary of Decision with Dependence and Feedback Based the Analytical Network Process, RWS Publication, Pittsburg,.
Birincil Dil en
Konular
Dergi Bölümü Makaleler
Yazarlar

Yazar: Ilyas Akhisar
E-posta: akhisar@marmara.edu.tr

Bibtex @ { marufacd4604, journal = {Finansal Araştırmalar ve Çalışmalar Dergisi}, issn = {1309-1123}, address = {Marmara Üniversitesi}, year = {2015}, volume = {6}, pages = {0 - }, doi = {10.14784/JFRS.2014117324}, title = {PERFORMANCE RANKING OF TURKISH INSURANCE COMPANIES: THE ANP APPLICATION}, language = {tr}, key = {cite}, author = {Akhisar, Ilyas} }
APA Akhisar, I . (2015). PERFORMANCE RANKING OF TURKISH INSURANCE COMPANIES: THE ANP APPLICATION. Finansal Araştırmalar ve Çalışmalar Dergisi, 6 (11), . DOI: 10.14784/JFRS.2014117324
MLA Akhisar, I . "PERFORMANCE RANKING OF TURKISH INSURANCE COMPANIES: THE ANP APPLICATION". Finansal Araştırmalar ve Çalışmalar Dergisi 6 (2015): <http://e-dergi-marmara.dergipark.gov.tr/marufacd/issue/508/4604>
Chicago Akhisar, I . "PERFORMANCE RANKING OF TURKISH INSURANCE COMPANIES: THE ANP APPLICATION". Finansal Araştırmalar ve Çalışmalar Dergisi 6 (2015):
RIS TY - JOUR T1 - PERFORMANCE RANKING OF TURKISH INSURANCE COMPANIES: THE ANP APPLICATION AU - Ilyas Akhisar Y1 - 2015 PY - 2015 N1 - doi: 10.14784/JFRS.2014117324 DO - 10.14784/JFRS.2014117324 T2 - Finansal Araştırmalar ve Çalışmalar Dergisi JF - Journal JO - JOR SP - 0 EP - VL - 6 IS - 11 SN - 1309-1123- M3 - doi: 10.14784/JFRS.2014117324 UR - http://dx.doi.org/10.14784/JFRS.2014117324 Y2 - 2017 ER -
EndNote %0 Finansal Araştırmalar ve Çalışmalar Dergisi PERFORMANCE RANKING OF TURKISH INSURANCE COMPANIES: THE ANP APPLICATION %A Ilyas Akhisar %T PERFORMANCE RANKING OF TURKISH INSURANCE COMPANIES: THE ANP APPLICATION %D 2015 %J Finansal Araştırmalar ve Çalışmalar Dergisi %P 1309-1123- %V 6 %N 11 %R doi: 10.14784/JFRS.2014117324 %U 10.14784/JFRS.2014117324