Grey fuzzy comprehensive evaluation of regional financial innovation ability based on two types weights. Issue 2 (1st August 2016)

• Record Type: Journal Article
• Authors: Li, Li; Wang, Renxiang; Li, Xican
• Is Part Of: Grey systems. Volume 6:Issue 2(2016)
• Page Start: 187
• Page End: 202
• Publication Date: 2016-08-01
• Subjects: Financial innovation -- Grey fuzzy comprehensive evaluation -- Multi-dimensional -- Weight matrix -- Weight vector -- Grey fuzzy decision making; Cybernetics -- Periodicals; Systems engineering -- Periodicals; 003.5
• DOI: 10.1108/GS-02-2016-0006
• Languages: English
• ISSNs: 2043-9377

Abstract

Abstract : Purpose: – According to the grey uncertainty and the connotation of different types weights, the purpose of this paper is to establish the pattern of multi-dimensional grey fuzzy decision making with feedback based on weight vector and weight matrix, and applies this pattern to evaluate the regional financial innovation ability. Design/methodology/approach: – At first, this paper analyzes the connotation of financial innovation ability and establishes the evaluation system of regional financial innovation ability. Second, the formula of computing the multi-objective weighted comprehensive value based on weight vector and weight matrix is put forward. In view of the object function with supervised factor and stability coefficient, this paper gives the formulas to compute weight vector and weight matrix. Moreover, the algorithm of the multi-dimensional grey fuzzy decision making pattern with feedback based on weight vector and weight matrix is expressed. At last, this paper uses the presented pattern to evaluate the financial innovation ability of thirty-one provinces in China. Findings: – The results are convincing: the development of regional financial innovation is not balanced in China, having obvious spatial clustering feature. The comparisons of evaluation results based on different forms of weights show that the calculating convergence speed of the pattern presented in this paper is fast. The pattern enhances the rationality of the demarcation point between categories, and the convergence within categories, making the evaluation more reasonable. Practical implications: – The method exposed in the paper can be used at evaluating the regional financial innovation ability and even for other similar evaluation problem. Originality/value: – The paper succeeds in realising both the pattern of multi-dimensional grey fuzzy decision making with feedback and evaluating the regional financial innovation ability by using the newest developed theories: weighted grey and fuzzy recognition theory based on weight vector and weight matrix.