Wyniki wyszukiwania - BazTech

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Comparison of profits of effective portfolios with non-effective portfolios taking into account the fuzzy approach

Pośpiech Ewa

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2021

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z. 150

199--212

EN

Purpose: The aim of the article is to compare the results of the constructed effective portfolios and non-effective portfolios build on the basis of the value of the indicator constituting a synthetic assessment of decision variants. Design/methodology/approach: The article uses the multi-criteria TOPSIS method in the standard and fuzzy approach. It was used to evaluate listed companies that were examined in terms of selected fundamental and market characteristics. Taking into account the fuzzy method made it possible to treat the values of criteria from three years as triangular fuzzy numbers, and the values of the measure on the basis of which the ranking was created were also used to build non-effective portfolios. Findings: A multi-criteria evaluation of selected listed companies was performed and, on the basis of the obtained rankings, the sets constituting the basis for the construction of effective and non-effective portfolios were selected. The designated effective portfolios (after pre-selection using the FTOPSIS method) were in most cases more profitable than the market portfolio, while the non-effective portfolios, using TOPSIS as the pre-selection method, were (with one exception) more profitable than the effective portfolios. Research limitations/implications: It was not possible to unequivocally recommend the approach used, although the results appear promising. Practical implications: Taking into account the proposed approach, one can methodically build more profitable and more attractive portfolios. Originality/value: Non-standard approach to criteria assessments and the use of metacriterion values to determine the portfolio structure. The considerations may be of interest to stock market investors.

2

The multi-criteria fuzzy approach to building and evaluating effective portfolios

Pośpiech Ewa

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2020

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z. 144

397--407

EN

Purpose: The aim of the article is to compare the results of effective portfolios obtained after the initial selection using multi-criteria methods with the results of the market portfolio. Design/methodology/approach: When selecting a long-term portfolio, a fundamental analysis can be used to assess a company's economic and financial condition. This analysis is based on fundamental and market indicators. By treating selected indicators as evaluation criteria, the problem can be considered as a multi-criteria problem. In the analyses the TOPSIS methods were used (standard and fuzzy one), which enabled the approach to the issue in a non-standard way. Findings: Three effective portfolios were determined: two of them were obtained after the initial selection of companies using selected multi-criteria methods, the third was generated from the set of all considered companies. The results of these portfolios, estimated for the whole of 2018, were compared with the market portfolio represented by the WIG20 index. The analysis showed that including the fuzzy approach when selecting a portfolio, it is possible to construct more profitable portfolios compared to the market portfolio. Research limitations/implications: The problem requires further research to confirm the recommendations made. Practical implications: Using the proposed approach, we can methodically build more profitable portfolios than the market portfolio. Originality/value: The values of criterion assessments from selected years were treated as triangular fuzzy numbers – this enabled the use of fuzzy approach and the selection of portfolios more attractive than the market one. The study may be of interest to stock market investors.

3

Zastosowanie sztucznego systemu immunologicznego do rozwiązania wielokryterialnego problemu dystrybucji dostaw

Mrówczyńska B.

Prace Naukowe Politechniki Warszawskiej. Transport

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2017

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z. 117

219--228

PL

W artykule przedstawiono rozwiązanie problemu znanego jako zadanie komiwojażera. Prezentowany problem polega na minimalizacji kosztów dystrybucji dostaw do wielu odbiorców obsługiwanych przez flotę pojazdów. W rozwiązaniu tego zadania bierze się pod uwagę całkowitą długość drogi, czas przejazdu i wielkości ładunku. W obliczeniach zastosowano dwie metody rozwiązania. W pierwszej z nich wyznaczono trasy wszystkich pojazdów dostawczych biorących udział w bieżącej dostawie, uwzględniając przy tym kryteria na minimum długości drogi i czasu przejazdu oraz obsługi przy ograniczeniu na ładowność pojazdów. W drugiej z metod przeprowadzono najpierw klasteryzację punktów dostaw ze względu na minimum długości drogi i ograniczenie ładowności pojazdu przeznaczonego do obsługi danego klastra dla zadanej liczby i ładowności pojazdów. Następnie dla każdego pojazdu wyznaczono najkrótszą i najszybszą drogę przez wszystkie punkty klastra, do którego był przydzielony. We wszystkich opisanych tu obliczeniach zastosowano algorytmy sztucznych systemów immunologicznych. Problemy wielokryterialne został rozwiązane metodą kryteriów ważonych i optymalności Pareto.

EN

In the paper the solution of the issue known as a traveling salesman problems (TSP) is presented. A minimizing of costs of distributing supplies to multiple recipients supported by a fleet of vehicles is considered. the total path length, the driving time and the volumes of cargo is taken into account in the solution of the task . An artificial immune system is used to solve it. This multi-criteria problem has been solved using objectives weighted method and Pareto efficiency. Results were compared.