An important issue for international businesses and academia is selecting countries in which to expand in order to achieve entrepreneurial sustainability. This study develops a country selection model for sustainable construction businesses using both objective and subjective information. The objective information consists of 14 variables related to country risk and project performance in 32 countries over 25 years. This hybrid model applies subjective weighting from industrial experts to objective information using a fuzzy LinPreRa-based Analytic Hierarchy Process. The hybrid model yields a more accurate country selection compared to a purely objective information-based model in experienced countries. Interestingly, the hybrid model provides some different predictions with only subjective opinions in unexperienced countries, which implies that expert opinion is not always reliable. In addition, feedback from five experts in top international companies is used to validate the model's completeness, effectiveness, generality, and applicability. The model is expected to aid decision makers in selecting better candidate countries that lead to sustainable business success.
Bibliographical noteFunding Information:
This work was supported by the Korea Science and Engineering Foundation (KOSEF) grant funded by the Korean government (MOST) (No. NRF-2015R1A2A1A09007327).
All Science Journal Classification (ASJC) codes
- Geography, Planning and Development
- Renewable Energy, Sustainability and the Environment
- Management, Monitoring, Policy and Law