Group decision models that contemplate the particularities of the decision-making process help organizations pursue their strategic objectives.In the financial market,the primary interest of organizations consists in ...Group decision models that contemplate the particularities of the decision-making process help organizations pursue their strategic objectives.In the financial market,the primary interest of organizations consists in ensuring financial returns,which guarantee stability for the organization.This study identifies major problems in the current process of credit granting in the financial market and argues the need for automatizing the organizational decision process while respecting the autonomy of decision-makers.To this end,this study proposes a group decision model based on the Strategic Choice Approach(SCA)for granting credit in a financial market organization.The results show that the adoption of the proposed model offers considerable gains in terms of organizational goals,transparency of the decision-making process,security for decision-makers,and reduction of organizational conflicts.展开更多
The choice of capital structure by firms is a recurring topic of corporate finance and evolving on a theoretical and empirical level. On a theoretical level, scholars propose variations to the models by removing the t...The choice of capital structure by firms is a recurring topic of corporate finance and evolving on a theoretical and empirical level. On a theoretical level, scholars propose variations to the models by removing the theoretical hypothesis or expanding variables considered, likewise, on an empirical level, researchers provide survey, which contributions aimed at increasing the understanding of the phenomenon as a whole, considering the possible events in the variety and variability of firms. In particular, one of the most debated topics in the literature regards the existence or absence of relationship between the choices of financial structure and firm value, or the determination of an optimal leverage for the value. Therefore, the attention of researchers has focused on the identification of relationship between debt and equity that maximizes firm＇s performance and meet shareholders＇ expectations in terms of return on capital employed for the same risk. Hence, the aim of this paper is to provide another piece to the cognitive complexity of the phenomenon, focusing the research on Italian firms, given the importance of leverage in the financial structure of Italian firms. The methodology used is based on the analysis conducted using the Mediobanca database aggregated sector by sector to identify the main determinants of financial structure. The conclusion is that it is not possible to say with certainty which financial structure theory better represents the behavior of Italian firms concerning financial structure.展开更多
基金Brazilian Research Council(CNPq)-Process:309143/2014–4。
文摘Group decision models that contemplate the particularities of the decision-making process help organizations pursue their strategic objectives.In the financial market,the primary interest of organizations consists in ensuring financial returns,which guarantee stability for the organization.This study identifies major problems in the current process of credit granting in the financial market and argues the need for automatizing the organizational decision process while respecting the autonomy of decision-makers.To this end,this study proposes a group decision model based on the Strategic Choice Approach(SCA)for granting credit in a financial market organization.The results show that the adoption of the proposed model offers considerable gains in terms of organizational goals,transparency of the decision-making process,security for decision-makers,and reduction of organizational conflicts.
文摘The choice of capital structure by firms is a recurring topic of corporate finance and evolving on a theoretical and empirical level. On a theoretical level, scholars propose variations to the models by removing the theoretical hypothesis or expanding variables considered, likewise, on an empirical level, researchers provide survey, which contributions aimed at increasing the understanding of the phenomenon as a whole, considering the possible events in the variety and variability of firms. In particular, one of the most debated topics in the literature regards the existence or absence of relationship between the choices of financial structure and firm value, or the determination of an optimal leverage for the value. Therefore, the attention of researchers has focused on the identification of relationship between debt and equity that maximizes firm＇s performance and meet shareholders＇ expectations in terms of return on capital employed for the same risk. Hence, the aim of this paper is to provide another piece to the cognitive complexity of the phenomenon, focusing the research on Italian firms, given the importance of leverage in the financial structure of Italian firms. The methodology used is based on the analysis conducted using the Mediobanca database aggregated sector by sector to identify the main determinants of financial structure. The conclusion is that it is not possible to say with certainty which financial structure theory better represents the behavior of Italian firms concerning financial structure.
