Evaluation and selection of Chinese government venture capital investment projects: A research based on analytic hierarchy process and intuitionistic fuzzy set–technique for order of preference by similarity to ideal solution method

This study, based on the characteristics of the Chinese government venture capital (GVC), developed an index system that basically allows to identify potential on key aspects on a given start‐up, proposing a decision‐making method based on analytic hierarchy process (AHP) and intuitionistic fuzzy se...

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Bibliographic Details
Published in:Managerial and decision economics 2021-06, Vol.42 (4), p.821-835
Main Authors: Lu, Yuzhong, Tian, Zengrui, Buitrago, Guillermo A.
Format: Article
Language:English
Subjects:
Capital investments
Corporations
Finance
Fuzzy sets
Investments
Methods
Transparency
Venture capital
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Summary:This study, based on the characteristics of the Chinese government venture capital (GVC), developed an index system that basically allows to identify potential on key aspects on a given start‐up, proposing a decision‐making method based on analytic hierarchy process (AHP) and intuitionistic fuzzy set–technique for order of preference by similarity to ideal solution (IFS‐TOPSIS) to evaluate and select Chinese GVC investment projects. A numerical example of how the proposed model was applied to a GVC investment project selection in China is provided. Our results showed that the adoption of this methodology can contribute to increase fairness and transparency in the evaluation process on GVCs, and the proposed index set is ideal for GVCs for start‐up selection.
ISSN:0143-6570
1099-1468
DOI:10.1002/mde.3275