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Group Decision and Negotiation

, Volume 22, Issue 6, pp 1103–1127 | Cite as

An Integrated Group Decision Making Support Model for Corporate Financing Decisions

  • Wen-Hsien TsaiEmail author
  • Ching-Chien Yang
  • Jun-Der Leu
  • Ya-Fen Lee
  • Chih-Hao Yang
Article

Abstract

The essential goal of corporate finance is to maximize corporate value while reducing a firm’s financial risks. Corporate financing decision is a kind of multi-criteria based group decision making that embodies major approaches to handle qualitative criteria and quantitative limitations. However, in literature related to financing decision making, very little research uses decision making trial and evaluation laboratory (DEMATEL) and analytic network process (ANP) methods to consider the impact and dependency of its factors, or uses Goal programming (GP) to find the satisfactory financing decision under the related financial constraints. This study proposes an integrated group decision making support (GDMS) model to assist corporate financing group decision makers (DMs) in obtaining a satisfactory group solution. ANP, DEMATEL and GP are combined in this GDMS model. By using this model, the group DMs can systemically structure a multi-criteria network framework and derive priority weights of those criteria, and then deal with the quantitative financial constraints for a satisfactory group solution. An illustrative case is demonstrated for the effectiveness and practicability of this GDMS model.

Keywords

Group decision making support (GDMS) Decision making trial and evaluation laboratory (DEMATEL) Analytic network process(ANP) Goal programming (GP) 

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Copyright information

© Springer Science+Business Media B.V. 2012

Authors and Affiliations

  • Wen-Hsien Tsai
    • 1
    Email author
  • Ching-Chien Yang
    • 2
  • Jun-Der Leu
    • 1
  • Ya-Fen Lee
    • 1
  • Chih-Hao Yang
    • 1
  1. 1.Department of Business AdministrationNational Central UniversityJhongli, TaoyuanTaiwan
  2. 2.Department of Marketing and Logistics ManagementChung Chou University of Science and TechnologyYuanlin, ChanghuaTaiwan

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