Comparing the performance of Turkish deposit banks by using DEMATEL, Grey Relational Analysis (GRA) and MOORA approaches

Main Article Content

Serhat Yüksel Hasan Dinçer Şenol Emir


The purpose of the study is to measure the financial performance in Turkish banking sector and to combine the data mining with the multi-criteria decision-making methods. For this purpose, a text-mining process is applied to measure the pairwise comparison of the criteria and the results are used in the integrated models. DEMATEL-GRA and DEMATEL-MOORA are defined as two integrated models. The results show that integrated models give the coherent outcomes and the text-mining process could be adapted properly in the multi-criteria decision-making methods. It is also concluded that foreign banks have better performance in comparison with state and private banks.


Download data is not yet available.

Article Details

How to Cite
Yüksel, S., Dinçer, H., & Emir, Şenol. (2017). Comparing the performance of Turkish deposit banks by using DEMATEL, Grey Relational Analysis (GRA) and MOORA approaches. World Journal of Applied Economics, 3(2), 26-47.


Ahmadi, H. B., Petrudi, S. H. H., & Wang, X. (2016). Integrating sustainability into supplier selection with analytical hierarchy process and improved grey relational analysis: a case of telecom industry. The International Journal of Advanced Manufacturing Technology, 9(90), 2413-2427.
Akhigbe, A., McNulty, J. E., & Stevenson, B. A. (2017a). Additional evidence on transparency and bank financial performance. Review of Financial Economics, 32, 1-6. doi:10.1016/j.rfe.2016.09.001
Akhigbe, A., McNulty, J. E., & Stevenson, B. A. (2017b). Does the form of ownership affect firm performance? Evidence from US bank profit efficiency before and during the financial crisis. The Quarterly Review of Economics and Finance, 64, 120-129. doi:10.1016/j.qref.2016.07.015
Akkaya, G., Turanoğlu, B., & Öztaş, S. (2015). An integrated fuzzy AHP and fuzzy MOORA approach to the problem of industrial engineering sector choosing. Expert Systems with Applications, 42(24), 9565-9573. doi:10.1016/j.eswa.2015.07.061
Aktaş, H., & Kargın, M. (2007). Türk bankacılık sektöründeki yabancı ve ulusal bankaların finansal oranlar açısından karşılaştırılması. Yönetim ve Ekonomi, 14(2), 31-45.
Ali, M., & Azmi, W. (2016). Religion in the boardroom and its impact on Islamic banks' performance. Review of Financial Economics, 31, 83-88. doi:10.1016/j.rfe.2016.08.001
Bacudio, L. R., Benjamin, M. F. D., Eusebio, R. C. P., Holaysan, S. A. K., Promentilla, M. A. B., Yu, K. D. S., & Aviso, K. B. (2016). Analyzing barriers to implementing industrial symbiosis networks using DEMATEL. Sustainable Production and Consumption, 7, 57-65. doi:10.1016/j.spc.2016.03.001
Bayramoglu, M. F., & Hamzacebi, C. (2016). Stock Selection Based on Fundamental Analysis Approach by Grey Relational Analysis: A Case of Turkey. International Journal of Economics and Finance, 8(7), 178-184. doi:10.5539/ijef.v8n7p178
Berger, A. N., Hasan, I., & Zhou, M. (2010). The effects of focus versus diversification on bank performance: Evidence from Chinese banks. Journal of Banking & Finance, 34(7), 1417-1435. doi:10.1016/j.jbankfin.2010.01.010
Bian, W., & Deng, C. (2017). Ownership dispersion and bank performance: Evidence from China. Finance Research Letters. doi:10.1016/
Bircan, H., ARSLAN, R., & Eleroğlu, H. (2017, February). AHS İle Ağırlıklandırılmış MOORA ve VIKOR Yöntemiyle Araç Seçimi; Rent a Car Firması Uygulaması. In ICPESS (International Congress on Politic, Economic and Social Studies) (No. 2).
Bitar, M., Saad, W., & Benlemlih, M. (2016). Bank risk and performance in the MENA region: The importance of capital requirements. Economic Systems, 40(3), 398-421. doi:10.1016/j.ecosys.2015.12.001
Boubakri, N., Mirzaei, A., & Samet, A. (2017). National culture and bank performance: Evidence from the recent financial crisis. Journal of Financial Stability, 29, 36-56. doi:10.1016/j.jfs.2017.02.003
Brauers, W.K.M. and Zavadskas, E.K. (2006). The MOORA Method and Its Application to Privatization in a Transition Economy. Control and Cybernetics, 35, 445-469.
Büyüközkan, G., Güleryüz, S., & Karpak, B. (2017). A new combined IF-DEMATEL and IF-ANP approach for CRM partner evaluation. International Journal of Production Economics, 191, 194-206. doi:10.1016/j.ijpe.2017.05.012
Cai, W., Xu, F., & Zeng, C. (2016). Geographical diversification and bank performance: Evidence from China. Economics Letters, 147, 96-98. doi:10.1016/j.econlet.2016.08.022
Carvallo, O., & Kasman, A. (2017). Convergence in bank performance: Evidence from Latin American banking. The North American Journal of Economics and Finance, 39, 127-142. doi:10.1016/j.najef.2016.08.002
Chai, B. B. H., Tan, P. S., & Goh, T. S. (2016). Banking services that influence the bank performance. Procedia-Social and Behavioral Sciences, 224, 401-407. doi:10.1016/j.sbspro.2016.05.405
Chen, I. S. (2016). A combined MCDM model based on DEMATEL and ANP for the selection of airline service quality improvement criteria: A study based on the Taiwanese airline industry. Journal of Air Transport Management, 57, 7-18. doi:10.1016/j.jairtraman.2016.07.004
Cornett, M. M., Erhemjamts, O., & Tehranian, H. (2016). Greed or good deeds: An examination of the relation between corporate social responsibility and the financial performance of US commercial banks around the financial crisis. Journal of Banking & Finance, 70, 137-159. doi:10.1016/j.jbankfin.2016.04.024
Çinko, M., & Avcı, E. (2008). CAMELS Derecelendirme Sistemi ve Türk Ticari Bankacılık Sektöründe Başarısızlık Tahmini. BDDK Bankacılık ve Finansal Piyasalar Dergisi, 2(2), 25-48.
Davydenko, A. (2010). Determinants of bank profitability in Ukraine. Undergraduate Economic Review, 7(1), Article 2.
de Bandt, O., Camara, B., Maitre, A., & Pessarossi, P. (2017). Optimal capital, regulatory requirements and bank performance in times of crisis: Evidence from France. Journal of Financial Stability
Gerhardt, M., & Vander Vennet, R. (2016). Bank bailouts in Europe and bank performance. Finance Research Letters.
Deng, J. (1982). Control problems of grey systems. Systems & Control Letters, 1(5), 288-294. doi:10.1016/S0167-6911(82)80025-X
Dinçer, H., Hacıoğlu, Ü., & Yüksel, S. (2017). Balanced scorecard based performance measurement of European airlines using a hybrid multi criteria decision making approach under the fuzzy environment. Journal of Air Transport Management, 63, 17-33. doi:10.1016/j.jairtraman.2017.05.005
Dong, Y., Firth, M., Hou, W., & Yang, W. (2016). Evaluating the performance of Chinese commercial banks: A comparative analysis of different types of banks. European Journal of Operational Research, 252(1), 280-295. doi:10.1016/j.ejor.2015.12.038
Fukuyama, H., & Matousek, R. (2017). Modeling bank performance: A network DEA approach. European Journal of Operational Research, 259(2), 721-732. doi:10.1016/j.ejor.2016.10.044
Ghosh, A. (2016). Banking sector globalization and bank performance: A comparative analysis of low income countries with emerging markets and advanced economies. Review of Development Finance, 6(1), 58-70. doi:10.1016/j.rdf.2016.05.003
Jawadi, F., Jawadi, N., Cheffou, A. I., Ameur, H. B., & Louhichi, W. (2017). Modelling the effect of the geographical environment on Islamic banking performance: A panel quantile regression analysis. Economic Modelling. doi:10.1016/j.econmod.2017.01.018
Juo, J. C., Fu, T. T., Yu, M. M., & Lin, Y. H. (2016). Non-radial profit performance: An application to Taiwanese banks. Omega, 65, 111-121. doi:10.1016/
Kabak, M., & Dağdeviren, M. (2017). A hybrid approach based on ANP and grey relational analysis for machine selection. Tehnički vjesnik, 24(Supplement 1), 109-118.
King, T., Srivastav, A., & Williams, J. (2016). What's in an education? Implications of CEO education for bank performance. Journal of Corporate Finance, 37, 287-308. doi:10.1016/j.jcorpfin.2016.01.003
Kutan, A. M., Ozsoz, E., & Rengifo, E. W. (2012). Cross-sectional determinants of bank performance under deposit dollarization in emerging markets. Emerging Markets Review, 13(4), 478-492. doi:10.1016/j.ememar.2012.07.003
Li, W., Li, Y., & Tang, C. (2016). Web Service Selection Method Based on Grey Relational Analysis. International Journal of Hybrid Information Technology, 9(3), 117-124. doi:10.14257/ijhit.2016.9.3.11
Luthra, S., Govindan, K., & Mangla, S. K. (2017). Structural model for sustainable consumption and production adoption—A grey-DEMATEL based approach. Resources, Conservation and Recycling, 125, 198-207. doi:10.1016/j.resconrec.2017.02.018
Mamatzakis, E., & Bermpei, T. (2016). What is the effect of unconventional monetary policy on bank performance?. Journal of International Money and Finance, 67, 239-263. doi:10.1016/j.jimonfin.2016.05.005
Mavi, R. K., Goh, M., & Zarbakhshnia, N. (2017). Sustainable third-party reverse logistic provider selection with fuzzy SWARA and fuzzy MOORA in plastic industry. The International Journal of Advanced Manufacturing Technology, 1-18. doi:10.1007/s00170-016-9880-x
Meles, A., Porzio, C., Sampagnaro, G., & Verdoliva, V. (2016). The impact of the intellectual capital efficiency on commercial banks performance: Evidence from the US. Journal of Multinational Financial Management, 36, 64-74. doi:10.1016/j.mulfin.2016.04.003
Mirzaei, A., & Moore, T. (2016). Banking performance and industry growth in an oil-rich economy: Evidence from Qatar. The Quarterly Review of Economics and Finance, 60, 58-69. doi:10.1016/j.qref.2015.06.001
Nagano, M. (2016). The bank–firm relationship during economic transition: The impacts on bank performance in emerging economies. Emerging Markets Review, 28, 117-139. doi:10.1016/j.ememar.2016.08.005
Oktar, S., & Yüksel, S. (2016). Bankalarin Türev Ürün Kullanimini Etkileyen Faktörler: Mars Yöntemi ile Bir Inceleme/Determinants of the Use Derivatives in Banking: An Analysis with MARS Model. Finans Politik & Ekonomik Yorumlar, 53(620), 31-46.
Psillaki, M., & Mamatzakis, E. (2017). What drives bank performance in transitions economies? The impact of reforms and regulations. Research in International Business and Finance, 39, 578-594. doi:10.1016/j.ribaf.2016.09.010
Salim, R., Arjomandi, A., & Seufert, J. H. (2016). Does corporate governance affect Australian banks' performance?. Journal of International Financial Markets, Institutions and Money, 43, 113-125. doi:10.1016/j.intfin.2016.04.006
Saghi-Zedek, N. (2016). Product diversification and bank performance: does ownership structure matter?. Journal of Banking & Finance, 71, 154-167. doi:10.1016/j.jbankfin.2016.05.003
Sarı, T., Baynal, K., & Ergül, Ö. (2016). Supplier Selection with Grey Relational Analysis. International Journal of Emerging Research in Management & Technology, 5, 61-70.
Scott, S. V., Van Reenen, J., & Zachariadis, M. (2017). The long-term effect of digital innovation on bank performance: an empirical study of SWIFT adoption in financial services. Research Policy, 46(5), 984-1004. doi:10.1016/j.respol.2017.03.010
Seyrek, İ. H., & Ata, H. A. (2010). Veri Zarflama Analizi ve Veri Madenciliği ile Mevduat Bankalarında Etkinlik Ölçümü. Journal of BRSA Banking & Financial Markets, 4(2), 67-84.
Shaban, M., & James, G. A. (2017). The effects of ownership change on bank performance and risk exposure: Evidence from Indonesia. Journal of Banking & Finance.
Sun, L., & Chang, T. P. (2011). A comprehensive analysis of the effects of risk measures on bank efficiency: Evidence from emerging Asian countries. Journal of Banking & Finance, 35(7), 1727-1735. doi:10.1016/j.jbankfin.2010.11.017
Sun, P. H., Mohamad, S., & Ariff, M. (2017). Determinants driving bank performance: A comparison of two types of banks in the OIC. Pacific-Basin Finance Journal, 42, 193-203. doi:10.1016/j.pacfin.2016.02.007
Supeekit, T., Somboonwiwat, T., & Kritchanchai, D. (2016). DEMATEL-modified ANP to evaluate internal hospital supply chain performance. Computers & Industrial Engineering, 102, 318-330. doi:10.1016/j.cie.2016.07.019
Yüksel, S. (2017). Determinants of the Credit Risk in Developing Countries After Economic Crisis: A Case of Turkish Banking Sector. In Global Financial Crisis and Its Ramifications on Capital Markets (pp. 401-415). Springer International Publishing. doi:10.1007/978-3-319-47021-4_28
Yüksel, S., Dincer, H., & Hacioglu, U. (2015). CAMELS-based Determinants for the Credit Rating of Turkish Deposit Banks. International Journal of Finance & Banking Studies, 4(4), 1-17.
Yüksel, S., & Zengin, S. (2017). Influencing Factors of Net Interest Margin in Turkish Banking Sector. International Journal of Economics and Financial Issues, 7(1), 178-191.
Zhou, X., Shi, Y., Deng, X., & Deng, Y. (2017). D-DEMATEL: A new method to identify critical success factors in emergency management. Safety science, 91, 93-104. doi:10.1016/j.ssci.2016.06.014