Grey fuzzy comprehensive evaluation of regional financial innovation ability based on two types weights
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.
Keywords
Acknowledgements
The work is supported in part by National Natural Science Foundation of China Grant No. 41271235 and National Social Science Fund Project of China Grant No. 13BJY023. At the same time the authors would like to acknowledge the partial support of the Fundamental Research Funds for the Central Universities of China Grant No. 2015-yb-011.
Citation
Li, L., Wang, R. and Li, X. (2016), "Grey fuzzy comprehensive evaluation of regional financial innovation ability based on two types weights", Grey Systems: Theory and Application, Vol. 6 No. 2, pp. 187-202. https://doi.org/10.1108/GS-02-2016-0006
Publisher
:Emerald Group Publishing Limited
Copyright © 2016, Emerald Group Publishing Limited