Country selection model for sustainable construction businesses using hybrid of objective and subjective information

Kang Wook Lee, Wooyong Jung, Seung Heon Han

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

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.

Original languageEnglish
Article number800
JournalSustainability (Switzerland)
Volume9
Issue number5
DOIs
Publication statusPublished - 2017 Jan 1

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Industry
expert
business success
Analytic hierarchy process
weighting
Sustainable development
decision maker
candidacy
sustainability
Feedback
prediction
performance
opinion

All Science Journal Classification (ASJC) codes

  • Geography, Planning and Development
  • Renewable Energy, Sustainability and the Environment
  • Management, Monitoring, Policy and Law

Cite this

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Country selection model for sustainable construction businesses using hybrid of objective and subjective information. / Lee, Kang Wook; Jung, Wooyong; Han, Seung Heon.

In: Sustainability (Switzerland), Vol. 9, No. 5, 800, 01.01.2017.

Research output: Contribution to journalArticle

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