文献类型：期刊文献

英文题名：Modified PROMETHEEII for venture capital investment selection decision-making towards SMEs

作者：Yang, Yi[1];Zhao, Yilin[2]

通讯作者：Zhao, YL[1]

机构：[1]Beijing Union Univ, Sch Business, Beijing 100025, Peoples R China;[2]Univ Int Business & Econ, Sch Int Trade & Econ, Beijing 100029, Peoples R China

第一机构：北京联合大学商务学院

通讯机构：[1]corresponding author), Univ Int Business & Econ, Sch Int Trade & Econ, Beijing 100029, Peoples R China.

年份：2018

卷号：21

期号：4

起止页码：1017-1029

外文期刊名：JOURNAL OF INTERDISCIPLINARY MATHEMATICS

收录：EI(收录号：20181404969859);Scopus(收录号：2-s2.0-85044528293);WOS:【ESCI(收录号:WOS:000447591200026)】；

基金：This paper is supported by the Great Wall Scholars Development Project of Beijing Municipal Institutions (project number: CIT&TCD20150313), Beijing General Social Science Project "Research on the Financial Cooperation Mode between Beijing and Taiwan under the Background of ECFA" (project number: 14JDJGB044) and Beijing culture communication research center project. The authors are grateful to the anonymous referees and associate editor for their careful and obviously time-consuming and constructive reading of this paper.

语种：英文

外文关键词：Venture capital; Multiple attribute decision-making; Modified PROMETHEEII method; Selection criteria

摘要：As an important external financing channel for young potential SMEs, venture capital (VC) is booming worldwide recently and playing an important role in providing financial support as well as advanced management experience and social network. However, VC selecting criteria have always been controversial and VC investment decision-making is a kind of special MADM problem as VC investors not only consider dynamic selection criteria, but also analyze time series panel data that cannot be analyzed by traditional methods like TOPSIS and VIKOR method. In this paper, we firstly select 9 indexes as VC selection criteria and investigate the MADM to evaluate the target firms with time series attribute values. Then, we creatively develop a modified PROMETHEEII method to help VC value the time series attribute values. Finally, a numerical example with over 40,000 simulations for the value of SMEs invested by VC, is given to illustrate the effectiveness of modified PROMETHEEII method. Thus the modified PROMETHEEII method can be used as an effective method for VC to properly value SMEs and reduce VC investment risk.