A novel fuzzy decision-making approach to pension fund investments in renewable energy.
| Title: | A novel fuzzy decision-making approach to pension fund investments in renewable energy. |
|---|---|
| Authors: | Yüksel, Serhat1,2 (AUTHOR) serhatyuksel@medipol.edu.tr, Eti, Serkan3 (AUTHOR) seti@medipol.edu.tr, Dinçer, Hasan1,2 (AUTHOR) hdincer@medipol.edu.tr, Meral, Hasan4 (AUTHOR) hasan.meral@marmara.edu.tr, Umar, Muhammad5 (AUTHOR) muhammad.umar@lau.edu.lb, Gökalp, Yaşar6 (AUTHOR) ygokalp@medipol.edu.tr |
| Source: | Financial Innovation. 1/3/2025, Vol. 10, p1-24. 24p. |
| Subject Terms: | *Clean energy investment, *Decision making in investments, *Energy economics, *Pension trusts, Alternative fuels |
| Abstract: | Pension fund must consider some significant issues when making renewable energy project investment decisions. It is necessary to determine the most important factors and prioritize the indicators. Accordingly, the purpose of this study is to conduct a priority analysis of the determinants of investment in renewable energy projects by pension funds. This study constructs a novel fuzzy decision-making model. First, five indicators for this process are weighted using an entropy methodology based on sine trigonometric Pythagorean fuzzy sets. The CRITIC methodology is also considered to make a comparative evaluation. Second, five different clean energy investment alternatives for pension funds are ranked using the RATGOS methodology. Similarly, this ranking analysis is also made by considering TOPSIS technique to check the reliability of the results. The main contribution of this study is the creation of a new and comprehensive fuzzy decision-making model to identify the most important factors in renewable energy project investments for pension funds. The proposed model uses the RATGOS technique to rank clean energy investment alternatives for pension funds. By considering the geometrical mean in the RATGOS calculation process, criticisms related to existing ranking techniques can be overcome. The use of sine trigonometric Pythagorean fuzzy numbers provides significant benefits to the quality of the proposed decision-making model. The defuzzification process can be implemented appropriately using these sets. Therefore, this study's findings pave the way for investors to make investment decisions under these circumstances. It is concluded that the most important criterion is risk minimization. Effective regulations are another critical issue. Furthermore, the ranking results indicate that the most suitable renewable energy alternative is green bonds. The comparative results with STPFY-TOPSIS show that the proposed model generates coherent and reliable findings. [ABSTRACT FROM AUTHOR] |
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| Items | – Name: Title Label: Title Group: Ti Data: A novel fuzzy decision-making approach to pension fund investments in renewable energy. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Yüksel%2C+Serhat%22">Yüksel, Serhat</searchLink><relatesTo>1,2</relatesTo> (AUTHOR)<i> serhatyuksel@medipol.edu.tr</i><br /><searchLink fieldCode="AR" term="%22Eti%2C+Serkan%22">Eti, Serkan</searchLink><relatesTo>3</relatesTo> (AUTHOR)<i> seti@medipol.edu.tr</i><br /><searchLink fieldCode="AR" term="%22Dinçer%2C+Hasan%22">Dinçer, Hasan</searchLink><relatesTo>1,2</relatesTo> (AUTHOR)<i> hdincer@medipol.edu.tr</i><br /><searchLink fieldCode="AR" term="%22Meral%2C+Hasan%22">Meral, Hasan</searchLink><relatesTo>4</relatesTo> (AUTHOR)<i> hasan.meral@marmara.edu.tr</i><br /><searchLink fieldCode="AR" term="%22Umar%2C+Muhammad%22">Umar, Muhammad</searchLink><relatesTo>5</relatesTo> (AUTHOR)<i> muhammad.umar@lau.edu.lb</i><br /><searchLink fieldCode="AR" term="%22Gökalp%2C+Yaşar%22">Gökalp, Yaşar</searchLink><relatesTo>6</relatesTo> (AUTHOR)<i> ygokalp@medipol.edu.tr</i> – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Financial+Innovation%22">Financial Innovation</searchLink>. 1/3/2025, Vol. 10, p1-24. 24p. – Name: Subject Label: Subject Terms Group: Su Data: *<searchLink fieldCode="DE" term="%22Clean+energy+investment%22">Clean energy investment</searchLink><br />*<searchLink fieldCode="DE" term="%22Decision+making+in+investments%22">Decision making in investments</searchLink><br />*<searchLink fieldCode="DE" term="%22Energy+economics%22">Energy economics</searchLink><br />*<searchLink fieldCode="DE" term="%22Pension+trusts%22">Pension trusts</searchLink><br /><searchLink fieldCode="DE" term="%22Alternative+fuels%22">Alternative fuels</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: Pension fund must consider some significant issues when making renewable energy project investment decisions. It is necessary to determine the most important factors and prioritize the indicators. Accordingly, the purpose of this study is to conduct a priority analysis of the determinants of investment in renewable energy projects by pension funds. This study constructs a novel fuzzy decision-making model. First, five indicators for this process are weighted using an entropy methodology based on sine trigonometric Pythagorean fuzzy sets. The CRITIC methodology is also considered to make a comparative evaluation. Second, five different clean energy investment alternatives for pension funds are ranked using the RATGOS methodology. Similarly, this ranking analysis is also made by considering TOPSIS technique to check the reliability of the results. The main contribution of this study is the creation of a new and comprehensive fuzzy decision-making model to identify the most important factors in renewable energy project investments for pension funds. The proposed model uses the RATGOS technique to rank clean energy investment alternatives for pension funds. By considering the geometrical mean in the RATGOS calculation process, criticisms related to existing ranking techniques can be overcome. The use of sine trigonometric Pythagorean fuzzy numbers provides significant benefits to the quality of the proposed decision-making model. The defuzzification process can be implemented appropriately using these sets. Therefore, this study's findings pave the way for investors to make investment decisions under these circumstances. It is concluded that the most important criterion is risk minimization. Effective regulations are another critical issue. Furthermore, the ranking results indicate that the most suitable renewable energy alternative is green bonds. The comparative results with STPFY-TOPSIS show that the proposed model generates coherent and reliable findings. [ABSTRACT FROM AUTHOR] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Financial Innovation is the property of Springer Nature and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
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| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.1186/s40854-024-00703-6 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 24 StartPage: 1 Subjects: – SubjectFull: Clean energy investment Type: general – SubjectFull: Decision making in investments Type: general – SubjectFull: Energy economics Type: general – SubjectFull: Pension trusts Type: general – SubjectFull: Alternative fuels Type: general Titles: – TitleFull: A novel fuzzy decision-making approach to pension fund investments in renewable energy. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Yüksel, Serhat – PersonEntity: Name: NameFull: Eti, Serkan – PersonEntity: Name: NameFull: Dinçer, Hasan – PersonEntity: Name: NameFull: Meral, Hasan – PersonEntity: Name: NameFull: Umar, Muhammad – PersonEntity: Name: NameFull: Gökalp, Yaşar IsPartOfRelationships: – BibEntity: Dates: – D: 03 M: 01 Text: 1/3/2025 Type: published Y: 2025 Identifiers: – Type: issn-print Value: 21994730 Numbering: – Type: volume Value: 10 Titles: – TitleFull: Financial Innovation Type: main |
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