Proposal of a Methodology for Ranking Stocks by Multicriteria Methods: A Practical Approach Case of the Stocks Exchange Tunis

Wahiba Halimi; Ibrahim Lahouel

doi:doi:10.11648/j.jbed.20170201.12

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Proposal of a Methodology for Ranking Stocks by Multicriteria Methods: A Practical Approach Case of the Stocks Exchange Tunis

Wahiba Halimi, Ibrahim Lahouel

Published in Journal of Business and Economic Development (Volume 2, Issue 1)

Received: 30 October 2016 Accepted: 19 November 2016 Published: 26 December 2016

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Abstract

Multicriteria decision is one of the most complex areas, given the large number of criteria to assess the difficulty of quantifying some qualitative criteria and the requirement to integrate the decision-maker himself in the process of decision making through multi-criteria methods. The choice of methods depends on several variables in one of them is the type of scope; The management of stock portfolio is one of the modern fields of the application of multi-criteria methods. This article proposes the establishment of a stock portfolio via multi-criteria methods, the portfolio is made up from all the listed companies of Tunis (TSE).

Published in	Journal of Business and Economic Development (Volume 2, Issue 1)
DOI	10.11648/j.jbed.20170201.12
Page(s)	11-21
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2016. Published by Science Publishing Group

Keywords

The Multiple Criteria, Multi-criteria Methods, Building a Stock Portfolio, The Tunis Stock Exchange

References

[1]	Christian Hurson et Constantin Zopounidis; 1997; Gestion de Portefeuilles et Analyse multicritère; Edition Economica. Paris.
[2]	Dimitras, A. I. and Zopounidis, C. (1998), Multicriteria Decision Aid Methods for the Prediction of Business Failure, Kluwer Academic Publishers, Dordrecht.
[3]	Doumpos, M. and Zopounidis, C. (1998), “Developing a multicriteria decision support system for financial classification problems: The FINCLAS system”, Optimization Methods and Software, 8, 277-304.
[4]	Kamaratou, I, Zopounidis, C. and Despotis D. K.(1998), “Portfolio selection using the ADELAIS multiobjective linear programming system”, Computational Economics, 11/3 (1998), 189-204.
[5]	Le cite web de la Bourse des valeurs Mobilières de Tunis http://www.bvmt.com.tn/publications/?view=histo-indicesSect
[6]	Matsatsinis, N. F, Zopounidis, C. and Doumpos, M. (1996), “Developing a multicriteria knowledge- based decision support system for the assessment of corporate performance and viability: The FINEVA system”, Fuzzy Economic Review, 1/2, 35-53.
[7]	Michael Doumpos and Constantin Zopounidis; 2004; Multicriteria Decision Aid Classification Methods; -Applied Optimisation Volume 73. Technical University of Crete; Departement of Production Engineering and Management; Financial Engineering Laboratory. University Campus, Chania, Greece. By Kluwer Academic Publishers Dordrecht.
[8]	Siskos, J. (1980). Comment modeliser les preferences au moyen de fonctions d’utilite additives, RAIRO Recherche Operationelle, 14, 53-82.
[9]	W. Halimi, N. Benkhaldi, A. Smahi, 2010, Décision Financière et analyse multicritère approche théorique; Revue Européenne du droit social. Volume IX – issue 4 - numéro 9. pp 99–109.
[10]	Zopounidis, C. (1987), “A multicriteria decision making methodology for the evaluation of the risk of failure and an application”, Foundations of Control Engineering, 12/1, 45–67.
[11]	Zopounidis, C. (1995), Evaluation du Risque de Défaillance de l’Entreprise: Méthodes et Cas d’Application, Economica, Paris.
[12]	Zopounidis, C. (1999), “Multicriteria decision aid in financial management”, European Journal of Operational Research, 119, 404-415.
[13]	Zopounidis, C. and Doumpos, M. (2000a), Intelligent Decision Aiding Systems Based on Multiple Criteria for Financial Engineering, Kluwer Academic Publishers, Dordrecht.
[14]	Zopounidis, C. and Doumpos, M. (2000b), “INVESTOR: A decision support system based on multiple criteria for portfolio selection and composition”, in: A. Colorni, M. Paruccini and B. Roy (eds.), A-MCD-A (Aide Multi Critère à la Décision – Multiple Criteria Decision Aiding), European Commission Joint Research Centre, 371-381.

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APA Style

Wahiba Halimi, Ibrahim Lahouel. (2016). Proposal of a Methodology for Ranking Stocks by Multicriteria Methods: A Practical Approach Case of the Stocks Exchange Tunis. Journal of Business and Economic Development, 2(1), 11-21. https://doi.org/10.11648/j.jbed.20170201.12

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ACS Style

Wahiba Halimi; Ibrahim Lahouel. Proposal of a Methodology for Ranking Stocks by Multicriteria Methods: A Practical Approach Case of the Stocks Exchange Tunis. J. Bus. Econ. Dev. 2016, 2(1), 11-21. doi: 10.11648/j.jbed.20170201.12

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AMA Style

Wahiba Halimi, Ibrahim Lahouel. Proposal of a Methodology for Ranking Stocks by Multicriteria Methods: A Practical Approach Case of the Stocks Exchange Tunis. J Bus Econ Dev. 2016;2(1):11-21. doi: 10.11648/j.jbed.20170201.12

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@article{10.11648/j.jbed.20170201.12,
  author = {Wahiba Halimi and Ibrahim Lahouel},
  title = {Proposal of a Methodology for Ranking Stocks by Multicriteria Methods: A Practical Approach Case of the Stocks Exchange Tunis},
  journal = {Journal of Business and Economic Development},
  volume = {2},
  number = {1},
  pages = {11-21},
  doi = {10.11648/j.jbed.20170201.12},
  url = {https://doi.org/10.11648/j.jbed.20170201.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jbed.20170201.12},
  abstract = {Multicriteria decision is one of the most complex areas, given the large number of criteria to assess the difficulty of quantifying some qualitative criteria and the requirement to integrate the decision-maker himself in the process of decision making through multi-criteria methods. The choice of methods depends on several variables in one of them is the type of scope; The management of stock portfolio is one of the modern fields of the application of multi-criteria methods. This article proposes the establishment of a stock portfolio via multi-criteria methods, the portfolio is made up from all the listed companies of Tunis (TSE).},
 year = {2016}
}

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TY  - JOUR
T1  - Proposal of a Methodology for Ranking Stocks by Multicriteria Methods: A Practical Approach Case of the Stocks Exchange Tunis
AU  - Wahiba Halimi
AU  - Ibrahim Lahouel
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Author Information

Wahiba Halimi

Department of Economics, Faculty of Economics and Management Sciences, Abou Bakr Belkaid University, Tlemcen, Algeria
Ibrahim Lahouel

Department of Economics, Faculty of Economics and Management Sciences, Abou Bakr Belkaid University, Tlemcen, Algeria

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APA Style

Wahiba Halimi, Ibrahim Lahouel. (2016). Proposal of a Methodology for Ranking Stocks by Multicriteria Methods: A Practical Approach Case of the Stocks Exchange Tunis. Journal of Business and Economic Development, 2(1), 11-21. https://doi.org/10.11648/j.jbed.20170201.12

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ACS Style

Wahiba Halimi; Ibrahim Lahouel. Proposal of a Methodology for Ranking Stocks by Multicriteria Methods: A Practical Approach Case of the Stocks Exchange Tunis. J. Bus. Econ. Dev. 2016, 2(1), 11-21. doi: 10.11648/j.jbed.20170201.12

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AMA Style

Wahiba Halimi, Ibrahim Lahouel. Proposal of a Methodology for Ranking Stocks by Multicriteria Methods: A Practical Approach Case of the Stocks Exchange Tunis. J Bus Econ Dev. 2016;2(1):11-21. doi: 10.11648/j.jbed.20170201.12

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@article{10.11648/j.jbed.20170201.12,
  author = {Wahiba Halimi and Ibrahim Lahouel},
  title = {Proposal of a Methodology for Ranking Stocks by Multicriteria Methods: A Practical Approach Case of the Stocks Exchange Tunis},
  journal = {Journal of Business and Economic Development},
  volume = {2},
  number = {1},
  pages = {11-21},
  doi = {10.11648/j.jbed.20170201.12},
  url = {https://doi.org/10.11648/j.jbed.20170201.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jbed.20170201.12},
  abstract = {Multicriteria decision is one of the most complex areas, given the large number of criteria to assess the difficulty of quantifying some qualitative criteria and the requirement to integrate the decision-maker himself in the process of decision making through multi-criteria methods. The choice of methods depends on several variables in one of them is the type of scope; The management of stock portfolio is one of the modern fields of the application of multi-criteria methods. This article proposes the establishment of a stock portfolio via multi-criteria methods, the portfolio is made up from all the listed companies of Tunis (TSE).},
 year = {2016}
}

Copy | Download

TY  - JOUR
T1  - Proposal of a Methodology for Ranking Stocks by Multicriteria Methods: A Practical Approach Case of the Stocks Exchange Tunis
AU  - Wahiba Halimi
AU  - Ibrahim Lahouel
Y1  - 2016/12/26
PY  - 2016
N1  - https://doi.org/10.11648/j.jbed.20170201.12
DO  - 10.11648/j.jbed.20170201.12
T2  - Journal of Business and Economic Development
JF  - Journal of Business and Economic Development
JO  - Journal of Business and Economic Development
SP  - 11
EP  - 21
PB  - Science Publishing Group
SN  - 2637-3874
UR  - https://doi.org/10.11648/j.jbed.20170201.12
AB  - Multicriteria decision is one of the most complex areas, given the large number of criteria to assess the difficulty of quantifying some qualitative criteria and the requirement to integrate the decision-maker himself in the process of decision making through multi-criteria methods. The choice of methods depends on several variables in one of them is the type of scope; The management of stock portfolio is one of the modern fields of the application of multi-criteria methods. This article proposes the establishment of a stock portfolio via multi-criteria methods, the portfolio is made up from all the listed companies of Tunis (TSE).
VL  - 2
IS  - 1
ER  -

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