Journal of the Korean Operations Research and Management Science Society (한국경영과학회지)

The Korean Operations Research and Management Science Society (한국경영과학회)
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Financial Performance Evaluation of Domestic Life Insurers : A Comparison of ELECTREII, SAW and Cluster Analysis

국내 생명보험회사의 재무건전성 평가: ELECTRE II, 단순가중합모형, 군집분석의 비교

  • 민재형 (서강대학교 경영학과) ;
  • 송영민 (서강대학교 경영학연구원 기업성과평가센터)
  • Published : 2003.12.01
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Abstract

In this study, we evaluate financial performance of 21 domestic life insurers using SAW (simple additive weighting), ELECTREII, cluster analysis respectively, and suggest a hybrid approach of combining cluster analysis and ELECTREII to reclassify the life insurers into more meaningful groups according to their respective financial features. We also perform the sensitivity analysis employing ANOVA and Tukey's test to examine the robustness of ELECTREII, which would be influenced by decision maker's subjective preference parameters. Consequently, it is shown that ELECTREII turns out to be a flexible method providing decision makers with useful ranking Information especially under fuzzy decision making situation with incomparable alternatives, and hence it can serve as a complementary method to overcome the weakness of classical cluster analysis.

Keywords

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