What is it about?
The purpose of this study was to design a triangular rating system for multiple bottom line performance evaluation using corporate governance, corporate social responsibility, and corporate financial performance ratings. Furthermore, using a case study approach, the framework was tested in a high impact industry i.e. petrochemical industry.
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Why is it important?
The study makes two major contributions. Theoretically, it proposes a triangular framework for performance evaluation using key performance indicators. Empirically, it applies the framework to a set of cases from the petrochemical industry by employing two prominent multi-attribute decision making models using fuzzy sets.
Perspectives
The result of the analyses showed no significant relationship among the three dimensions of the rating system which mainly stemmed from the failure of the examined market in adopting responsible business practices. Moreover, sensitivity analyses were conducted to account for any discrepancies in the outcomes as a result of using fuzzy numbers and weighting vectors. Finally, the study concludes that failing to integrate environmental, social, and governance measures into decision making processes, in brazen defiance of stakeholders’ needs, is the main culprit of an unsustainable and irresponsible corporate environment.
Mr. Amir Hossein Rahdari
Tarbiat Modares University
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This page is a summary of: Developing a fuzzy corporate performance rating system: a petrochemical industry case study, Journal of Cleaner Production, September 2016, Elsevier,
DOI: 10.1016/j.jclepro.2016.05.007.
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