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- A multiple criteria framework to evaluate bank branch potencial attractivenessPublication . Ferreira, Fernando A. F.; Spahr, Ronald W.; Santos, Sérgio P.; Rodrigues, Paulo M. M.Remarkable progress has occurred over the years in the performance evaluation of bank branches. Even though financial measures are usually considered the most important in assessing branch viability, we posit that insufficient attention has been given to other factors that affect the branches' potential profitability and attractiveness, such as: location features, trade area characteristics and facilities management. Based on the integrated use of cognitive maps and multiple criteria decision analysis, we propose a framework that adds value to the way that potential attractiveness criteria to assess bank branches are selected and to the way that the trade-offs among those criteria are obtained. This framework is the result of a process involving several directors from the five largest banks operating in Portugal, and follows a constructivist approach. Our findings suggest that the use of cognitive maps systematically identifies previously omitted criteria that may assess potential attractiveness. The use of multiple criteria techniques clarify and add transparency to the way trade-offs are dealt with. Advantages and disadvantages of the proposed framework are also discussed.
- Readjusting trade-offs among criteria in internal ratings of credit-scoring:an empirical essay of risk analysis in mortgage loansPublication . Ferreira, Fernando A. F.; Spahr, Ronald W.; Gavancha, Irina F. M. D.; Çipi, AmaliCredit-scoring becomes increasingly important in poor economies and recessions. Decreasing liquidity due to reduced access to both money and debt markets has induced banks to impose restrictions on offering credit, including credit for mortgage loans. In this paper we analyze the internal rating system used by one of the top-five banks in Portugal, and propose a methodological framework which, based on an application of the Delphi technique, allows adjusting trade-offs among evaluation criteria and provides decision makers with a fairer, more accurate and transparent mortgage risk evaluation system.
- Evolutionary patterns and development prospects for e-government: a Delphi-based approach to perceptions of the administrative agentPublication . Ferreira, Fernando A. F.; Marques, Carla S. E.; Reis, Melanie M.; Ferreira, Neuza C. M. Q. F.; Çipi, AmaliInformation technology is an open door for governments to service citizens in a more timely, cost-efficient and effective manner. Even considering citizen resistance, cultural adversity or changes in the economic agents’ relationship, few would contest that concern over the state of electronic government (e-government) has increased over the years. This concern has been responsible for the emergence of a wide range of new initiatives devoted to development of the information and knowledge society, which occupies a central place in government policies and planning strategies worldwide. In this paper, we aim to analyze the evolutionary patterns of e-government in Portugal and, based on an application of the Delphi technique, provide development prospects considering the perceptions of a panel of administrative agents. Despite the low use of e-government services, our study demonstrates that the administrative agent expresses overall satisfaction with its use. Additionally, the high level of modernization allows us to forecast the increased use of information and communication technologies in terms of e-government services.
- A metacognitive decision making based-framework for bank customer loyalty measurement and managementPublication . Ferreira, Fernando A. F.; Jalali, Marjan S.; Meidutė-Kavaliauskienė, Ieva; Viana, Bianca A. C. P.Bank customer loyalty is becoming a priority concern for banking institutions, as a means of gradually increasing complementary margins and eliminating the lack of liquidity caused by the current economic climate. Following a top down process, this focus culminates at the branch level, where banks’ front office employees are seen as a driving-force for building customer loyalty. At the same time, however, the difficulty in identifying and operationalizing the factors or determinants that most contribute to creating and maintaining bank customer loyalty has long been recognized. In this sense, based on the integrated use of cognitive maps and measuring attractiveness by a categorical based evaluation technique (MACBETH), this study proposes a multiple criteria framework for bank customer loyalty measurement and management. The results show that our framework allows bank customers with higher rates of customer loyalty to be identified and, from a benchmarking perspective, indicates what best practices should be followed to boost long-term relationships. Implications for scholars and practitioners are discussed.
- Adding value to bank branch performance evaluation using cognitive maps and MCDA:a case studyPublication . Ferreira, Fernando A. F.; Santos, S. P.; Rodrigues, P. M. M.Bank branch performance evaluation is a difficult endeavour. Some of the main reasons for this difficulty are the complexity inherent in the variety of aspects considered in the evaluation, and the multiple and conflicting interests of the different stakeholders involved. In this paper, we show how cognitive mapping and measuring attractiveness by a categorical-based evaluation technique can be used to support the evaluation of bank branches through the development of multidimensional performance evaluation systems, and to deal explicitly with the trade-offs between the different dimensions of performance and interests of different stakeholders. A case study is discussed where these techniques are used in a constructive way, making the learning activity easier and introducing transparency in the decision-making process. The strengths and weaknesses of the integrated use of these two operational research techniques in this context are also discussed.
- For sale… but for how long? a methodological proposal for estimating time-on-the-marketPublication . Martins, Vanda C. S.; Filipe, Marlene N. M.; Ferreira, Fernando A. F.; Jalali, Marjan S.; António, Nelson J. S.Residential real estate assumes crucial importance in a country's socioeconomic development. It is an important field of study, and much work has gone into better understanding the sector and the factors determining sales within it, such as time-on-the-market (TOM). TOM can be influenced by a variety of elements; a fact that in effect raises a lot of issues, because these determinants are often interpreted in an ambiguous or unstructured way. This study aims to bring greater accuracy and structure to our understanding of these factors, by showing that the integrated use of cognitive mapping with the Analytic Hierarchy Process (AHP) can give rise to a conceptually coherent and empirically valid framework to calculate TOM indices in the residential real estate market. Because it takes into account both tangible and intangible characteristics of a house, this measurement framework also boosts strategic planning support and allows for more informed business planning, which we believe can be a real contribution to the development of the real estate market. The practical implications and limitations of this evaluation system are also discussed.
- Evaluating retail banking service quality and convenience with MCDA techniques:a case study at the bank branch levelPublication . Ferreira, Fernando A. F.; Santos, Sérgio P.; Rodrigues, Paulo M. M.; Spahr, Ronald W.The intangibility of banking services makes the evaluation of service quality and customer convenience difficult to measure. This paper aims to construct an integrated evaluation system for retail banking service quality and convenience at the bank branch level by combining cognitive mapping with measuring attractiveness by a categorical based evaluation technique. We strive to introduce transparency in the decision making process and add to the performance literature in retail banking. Strengths, weaknesses and practical applications of our multiple criteria evaluation system are also discussed.
- A judgment-based risk assessment framework for consumer loansPublication . Ferreira, Fernando A. F.; Meidutė-Kavaliauskienė, Ieva; Zavadskas, Edmundas K.; Jalali, Marjan S.; Catarino, Sandra M. J.Credit to personal consumption is an important activity of the financial system and crucial to the socioeconomic development of a country. It is important, therefore, that the methods and techniques used to evaluate consumer credit risk be as efficient and informative as possible, in order to strengthen decisions to approve or reject credit and promote sustainable economic growth. This study aims to create a multiple criteria expert system which integrates cognitive maps and the measuring attractiveness by a categorical-based evaluation technique (MACBETH) to create a complementary framework for consumer credit risk assessment. The results show that this integrated approach allows the evaluation process of consumer credit risk to be more informed and transparent, providing value for the evaluation processes of this type of credit application as a result of the privileged contact established with a panel of credit analysts. Advantages, limitations, and managerial implications are also discussed.
- Setting rents in residential real estate: a methodological proposal using multiple criteria decision analysisPublication . Canas, Sílvia R. D.; Ferreira, Fernando A. F.; Meidutė-Kavaliauskienė, IevaThe real estate sector has been negatively affected by the recent economic recession, which has forced structural changes that impact property value and price. Recent pressures have also motivated reduced liquidity and access to credit, causing a drop in property sales and, thus, boosting the rental housing market. It is worth noting, however, that the rental housing segment is not with-out difficulties and complexity, namely in terms of legislation and rental value revaluation. In light of this reasoning, this study aims to develop a multiple criteria decision support system for calculation of residential rents. By integrating cognitive maps and the measuring attractiveness by a categorical based evaluation technique (MACBETH), we also aim to introduce simplicity and transparency in the decision making framework. The practical implications, advantages and shortfalls of our proposal are also analyzed.
- An AHP-based approach to credit risk evaluation of mortgage loansPublication . Ferreira, Fernando A. F.; Santos, Sérgio P.; Dias, Vítor M. C.Mortgage loans for home purchase require careful analysis by all parties involved in the transaction, and credit-scoring is usually adopted to assist the decision process. From a credit institution standpoint, credit-scoring for mortgage loan risk evaluation becomes even more important in scenarios of economic turbulence and recession, primarily because of the severe restrictions imposed on credit availability that result from reduced access to both money and debt markets and subsequent decreasing liquidity. Employing an AHP – Analytic Hierarchy Process – based approach in the creditscoring system used by one of the major banks in Portugal, this study proposes a methodological framework conceived to adjust trade-offs among evaluation criteria and provide decision makers with a more transparent mortgage risk evaluation system. Practical implications of our framework are also discussed.