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IT2 Hybrid Decision-Making Approach to Performance Measurement of Internationalized Firms in the Baltic States

Author

Listed:
  • Hasan Dinçer

    (School of Business, South Campus, İstanbul Medipol University, Beykoz, Istanbul 34815, Turkey)

  • Serhat Yüksel

    (School of Business, South Campus, İstanbul Medipol University, Beykoz, Istanbul 34815, Turkey)

  • Renata Korsakienė

    (Department of Management, Vilnius Gediminas Technical University, Saulėtekio av. 11, LT-10223 Vilnius, Lithuania)

  • Agota Giedrė Raišienė

    (Institute of Management, Mykolas Romeris University, Ateities str. 20, LT-08303 Vilnius, Lithuania)

  • Yuriy Bilan

    (Faculty of Management, Rzeszow University of Technology, al. Powstańców Warszawy 10, 35-959 Rzeszów, Poland)

Abstract

International activities of firms contribute to environmental socio-economic development and have a positive influence on prosperity of countries. The novelty of this study is to extend prevailing theory on the performance measurement of internationalized firms by suggesting a hybrid decision-making model based on interval type 2 fuzzy sets for the Baltic states. The integrated method is defined as the interval type-2 (IT2) decision making trial and evaluation laboratory qualitative flexible multiple criteria method (DEMATEL-QUALIFLEX). IT2 DEMATEL is used for weighting each criterion of internationalized firms and IT2 QUALIFLEX is applied for ranking the Baltic states, respectively. Within this context, six different criteria are defined for ranking the internationalized firms of the Baltic states. The ranking of all three countries enable us to conclude that Estonia demonstrates the best results of internationalized firms. Meanwhile, Latvia has the worst performance of internationalized firms. The findings are useful for decision makers responsible for supportive policies focused on the research and development (R&D) and internationalization of firms. The implications for managers lie in the awareness of necessary conditions for successful internationalization. The study extends prevailing knowledge on the performance measurement of internationalized firms and provides findings on multinational companies (MNCs) in the Baltic states’ context.

Suggested Citation

  • Hasan Dinçer & Serhat Yüksel & Renata Korsakienė & Agota Giedrė Raišienė & Yuriy Bilan, 2019. "IT2 Hybrid Decision-Making Approach to Performance Measurement of Internationalized Firms in the Baltic States," Sustainability, MDPI, vol. 11(1), pages 1-22, January.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:1:p:296-:d:195917
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    References listed on IDEAS

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    2. Dejun Qiu & Hasan Dinçer & Serhat Yüksel & Gözde Gülseven Ubay, 2020. "Multi-Faceted Analysis of Systematic Risk-Based Wind Energy Investment Decisions in E7 Economies Using Modified Hybrid Modeling with IT2 Fuzzy Sets," Energies, MDPI, vol. 13(6), pages 1-25, March.
    3. Pengran Zhou & Pengfei Zhou & Serhat Yüksel & Hasan Dinçer & Gülsüm Sena Uluer, 2019. "Balanced Scorecard-Based Evaluation of Sustainable Energy Investment Projects with IT2 Fuzzy Hybrid Decision Making Approach," Energies, MDPI, vol. 13(1), pages 1-20, December.
    4. Ziyuan Tang & Hasan Dinçer, 2019. "Selecting the House-of-Quality-Based Energy Investment Policies for the Sustainable Emerging Economies," Sustainability, MDPI, vol. 11(13), pages 1-22, June.
    5. Kou, Gang & Yüksel, Serhat & Dinçer, Hasan, 2022. "Inventive problem-solving map of innovative carbon emission strategies for solar energy-based transportation investment projects," Applied Energy, Elsevier, vol. 311(C).
    6. Qi Jun & Hasan Dinçer & Serhat Yüksel, 2021. "Stochastic hybrid decision‐making based on interval type 2 fuzzy sets for measuring the innovation capacities of financial institutions," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 573-593, January.
    7. Shubin Wang & Weijie Li & Hasan Dincer & Serhat Yuksel, 2019. "Recognitive Approach to the Energy Policies and Investments in Renewable Energy Resources via the Fuzzy Hybrid Models," Energies, MDPI, vol. 12(23), pages 1-17, November.

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