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A multi-criteria based analytic framework for exploring the impact of Covid-19 on firm performance in emerging market

ABSTRACT: The recent pandemic has been the greatest catastrophic event in the last century that has left its irrevocable effect on the socio-economic and cultural environment. The current work presents a combined multi-criteria decision making (MCDM) framework of logarithmic percentage-change driven objective weighting (LOPCOW) and evaluation is based on distance from average solution (EDAS) method to enfold the early impact of COVID-19 on firm performance from fast moving consumer goods and consumer durables sectors in emerging market. Five aspects such as stock performance, dividend payout capability, sales and operational performance, financial stability and economic sustainability are considered for comparing 30 firms over seven consecutive financial years (FY 2013–14 to FY 2020–21). For aggregation of year wise rankings popular methods like Borda count and Copeland methods have been applied. A comparison of results of the LOPCOW-EDAS model with other MCDM methods has been made. It is noticed that the firms which held the overall top positions prior to COVID-19 suffer more afterward than the bottom performers. However, there has not been any major effect of COVID-19 on firms’ financial health and long-term growth prospect. The result shows significant reliability and stability as revealed by the comparative ranking and sensitivity analysis. The proposed framework shall enable the organizations for detailed performance analysis. Some of the policy and managerial implications are also discussed.

SUBMITTER: Biswas S

PROVIDER: S-EPMC9678210 | biostudies-literature | 2022 Nov

REPOSITORIES: biostudies-literature

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Project description:BackgroundThere is an increased interest in the use of multi-criteria decision analysis (MCDA) to support regulatory and reimbursement decision making. The EVIDEM framework was developed to provide pragmatic multi-criteria decision support in health care, to estimate the value of healthcare interventions, and to aid in priority-setting. The objectives of this study were to test 1) the influence of different weighting techniques on the overall outcome of an MCDA exercise, 2) the discriminative power in weighting different criteria of such techniques, and 3) whether different techniques result in similar weights in weighting the criteria set proposed by the EVIDEM framework.MethodsA sample of 60 Dutch and Canadian students participated in the study. Each student used an online survey to provide weights for 14 criteria with two different techniques: a five-point rating scale and one of the following techniques selected randomly: ranking, point allocation, pairwise comparison and best worst scaling.ResultsThe results of this study indicate that there is no effect of differences in weights on value estimates at the group level. On an individual level, considerable differences in criteria weights and rank order occur as a result of the weight elicitation method used, and the ability of different techniques to discriminate in criteria importance. Of the five techniques tested, the pair-wise comparison of criteria has the highest ability to discriminate in weights when fourteen criteria are compared.ConclusionsWhen weights are intended to support group decisions, the choice of elicitation technique has negligible impact on criteria weights and the overall value of an innovation. However, when weights are used to support individual decisions, the choice of elicitation technique influences outcome and studies that use dissimilar techniques cannot be easily compared. Weight elicitation through pairwise comparison of criteria is preferred when taking into account its superior ability to discriminate between criteria and respondents' preferences.

Project description:In the face of various risks and uncertainties including political instability, technological advancements, and natural disasters, businesses involved in cross-market activities are encountering a more competitive environment. This study investigates the relationship between competitive intensity, business intelligence, internal process efficiency, and the performance of small and medium-sized manufacturing enterprises in China. By incorporating the Technology-Organization-Environment (TOE) framework and Dynamic Capabilities Theory, a research model is developed to demonstrate that competitive intensity improves firms' performance through the utilization of business intelligence capabilities and internal process efficiency. Through the use of a structural equation model, data collected from 15 industrial parks in Henan province, China, involving 429 participants, was analyzed. The findings show a positive correlation between competitive intensity and business intelligence sensing capability (both internal and external). The impact of business intelligence sensing capability on the performance of small and medium-sized manufacturing enterprises is shown to be mediated through internal process efficiency. Our study reveals the mediating roles of business intelligence capability and internal process efficiency in improving organizational performance among Chinese small and medium-sized manufacturing enterprises. This research not only fills gaps in business intelligence research from a management perspective but also contributes to the literature on the interactions among competitive intensity, business intelligence, internal processes, and organizational performance. It also sheds light on the relationship between competitive intensity and organizational performance, offering insights for companies involved in cross-market activities. By highlighting the importance of business intelligence capabilities in adapting to environmental influences, this study offers practical guidance for enterprise digital transformation efforts.

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A multi-criteria based analytic framework for exploring the impact of Covid-19 on firm performance in emerging market

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