An integrated CoCoSo-CRITIC-based decision-making framework for sustainable competitiveness evaluation of regional financial centers with interval-valued intuitionistic fuzzy information

Abstract

Due to the increasingly strengthened role of finance in modern economic development, theoretical research on regional financial competitiveness in the study of regional economic competitiveness becomes very important. For China at this stage, finance is in a period of rapid development, and its role has penetrated into all aspects of social and economic life. Especially after China’s entry into the WTO, the pace of opening up the financial market has been further accelerated, and comprehensive evaluation and analysis of financial competitiveness is of great significance for comprehensively understanding and accurately grasping China’s national conditions, national strength, and international competitiveness, promoting the long-term growth of China’s financial competitiveness, and the sustainable development of the financial industry. The competitiveness evaluation of regional financial centers is looked as the multiple attribute decision-making (MADM) problem. This paper intends to propose a MADM methodology based on CoCoSo (Combined Compromise Solution) method under interval-valued intuitionistic fuzzy sets (IVIFSs) for sustainable competitiveness evaluation of regional financial centers. At the end of this study, we noticed to a comparison between the proposed IVIF-CoCoSo approach with other existing methods to verify the effectiveness of the algorithm.