A multicriteria methodology for equity selection using financial analysis |
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Authors: | Panagiotis Xidonas George Mavrotas John Psarras |
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Affiliation: | aNational Technical University of Athens, School of Electrical & Computer Engineering, Management & Decision Support Systems Laboratory, 9, Heroon Polytechneiou Street, 15780 Athens, Greece;bNational Technical University of Athens, School of Chemical Engineering Laboratory of Industrial, Energy Economics 9, Heroon Polytechneiou Str., 15780 Athens, Greece |
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Abstract: | In this article we present a multiple criteria methodology for supporting decisions that concern the selection of equities, on the basis of financial analysis. The ELECTRE Tri outranking classification method is employed for selecting the attractive equities, through the evaluation of the overall corporate performance of the corresponding firms. The crucial importance issue of the industry/sectoral accounting particularities was strongly taken into account. An elaborate review of coherent research studies is also provided. Finally, the validity of the proposed methodology is tested through a large scale application on the Athens Stock Exchange. |
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Keywords: | Multiple criteria decision making Equity portfolio selection Financial analysis |
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