{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,10,15]],"date-time":"2025-10-15T10:17:16Z","timestamp":1760523436187,"version":"3.41.2"},"reference-count":29,"publisher":"Emerald","issue":"2","license":[{"start":{"date-parts":[[2016,8,1]],"date-time":"2016-08-01T00:00:00Z","timestamp":1470009600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"published-print":{"date-parts":[[2016,8,1]]},"abstract":"\n Purpose<\/jats:title>\n \u2013 According to the grey uncertainty and the connotation of different types weights, the purpose of this paper is to establish the pattern of multi-dimensional grey fuzzy decision making with feedback based on weight vector and weight matrix, and applies this pattern to evaluate the regional financial innovation ability. <\/jats:p>\n <\/jats:sec>\n \n Design\/methodology\/approach<\/jats:title>\n \u2013 At first, this paper analyzes the connotation of financial innovation ability and establishes the evaluation system of regional financial innovation ability. Second, the formula of computing the multi-objective weighted comprehensive value based on weight vector and weight matrix is put forward. In view of the object function with supervised factor and stability coefficient, this paper gives the formulas to compute weight vector and weight matrix. Moreover, the algorithm of the multi-dimensional grey fuzzy decision making pattern with feedback based on weight vector and weight matrix is expressed. At last, this paper uses the presented pattern to evaluate the financial innovation ability of thirty-one provinces in China. <\/jats:p>\n <\/jats:sec>\n \n Findings<\/jats:title>\n \u2013 The results are convincing: the development of regional financial innovation is not balanced in China, having obvious spatial clustering feature. The comparisons of evaluation results based on different forms of weights show that the calculating convergence speed of the pattern presented in this paper is fast. The pattern enhances the rationality of the demarcation point between categories, and the convergence within categories, making the evaluation more reasonable. <\/jats:p>\n <\/jats:sec>\n \n Practical implications<\/jats:title>\n \u2013 The method exposed in the paper can be used at evaluating the regional financial innovation ability and even for other similar evaluation problem. <\/jats:p>\n <\/jats:sec>\n \n Originality\/value<\/jats:title>\n \u2013 The paper succeeds in realising both the pattern of multi-dimensional grey fuzzy decision making with feedback and evaluating the regional financial innovation ability by using the newest developed theories: weighted grey and fuzzy recognition theory based on weight vector and weight matrix.<\/jats:p>\n <\/jats:sec>","DOI":"10.1108\/gs-02-2016-0006","type":"journal-article","created":{"date-parts":[[2016,7,26]],"date-time":"2016-07-26T05:55:36Z","timestamp":1469512536000},"page":"187-202","source":"Crossref","is-referenced-by-count":12,"title":["Grey fuzzy comprehensive evaluation of regional financial innovation ability based on two types weights"],"prefix":"10.1108","volume":"6","author":[{"given":"Li","family":"Li","sequence":"first","affiliation":[]},{"given":"Renxiang","family":"Wang","sequence":"additional","affiliation":[]},{"given":"Xican","family":"Li","sequence":"additional","affiliation":[]}],"member":"140","reference":[{"key":"key2020121320161899400_b5","unstructured":"Allen, F.\n and \n Gale, D.\n (1994), \n Financial Innovation and Risk Sharing\n , MIT Press, Cambridge."},{"key":"key2020121320161899400_b10","unstructured":"Cheng, S.D.\n (2010), \u201cA study on the basic framework and component elements of financial innovation system\u201d, \n Finance Forum\n , Vol. 15 No. 9, pp. 5-9 (in Chinese)."},{"key":"key2020121320161899400_b17","unstructured":"Deng, J.L.\n (2005), \n Grey Prediction and Decision\n , Huazhong University of Science \n\t\t\t\t\t&\n\t\t\t\t Technology Press, Wuhan (in Chinese)."},{"key":"key2020121320161899400_b14","unstructured":"Ding, S.F.\n , \n Wang, Q.T.\n , \n Ji, S.J.\n , \n Sun, K.Q.\n and \n Shi, Z.Z.\n (2007), \u201cPCP comprehensive decision-making model based on information entropy\u201d, \n Mini-Micro Systems\n , Vol. 28 No. 1, pp. 79-82 (in Chinese)."},{"key":"key2020121320161899400_b6","doi-asserted-by":"crossref","unstructured":"Dynan, K.E.\n , \n Elmendorf, D.W.\n and \n Sichel, D.E.\n (2006), \u201cCan financial innovation help to explain the reduced volatility of economic activity?\u201d, \n Journal of Monetary Economics\n , Vol. 53 No. 1, pp. 123-150.","DOI":"10.1016\/j.jmoneco.2005.10.012"},{"key":"key2020121320161899400_b12","unstructured":"Jiang, Y.X\n and \n Jiang, R.B.\n (2013), \u201cRegional financial innovation: efficiency evaluation, environmental effects and disparity analysis\u201d, \n Journal of Zhejiang University: Humanities and Social Sciences\n , Vol. 27 No. 4, pp. 52-65 (in Chinese)."},{"key":"key2020121320161899400_b7","doi-asserted-by":"crossref","unstructured":"Laeven, L.\n , \n Levine, R.\n and \n Michalopoulos, S.\n (2015), \u201cFinancial innovation and endogenous growth\u201d, \n Journal of Financial Intermediation\n , Vol. 24 No. 1, pp. 1-24.","DOI":"10.1016\/j.jfi.2014.04.001"},{"key":"key2020121320161899400_b1","doi-asserted-by":"crossref","unstructured":"Lee, B.S.\n , \n Peng, J.G.\n , \n Li, G.Z.\n and \n He, J.\n (2012), \u201cRegional economic disparity, financial disparity, and national economic growth: evidence from China\u201d, \n Review of Development Economics\n , Vol. 16 No. 2, pp. 342-358.","DOI":"10.1111\/j.1467-9361.2012.00666.x"},{"key":"key2020121320161899400_b8","doi-asserted-by":"crossref","unstructured":"Lerner, J.\n and \n Tufano, P.\n (2011), \u201cThe consequences of financial innovation: a counterfactual research agenda\u201d, \n Annual Review of Financial Economics\n , Vol. 3 No. 1, pp. 41-85.","DOI":"10.1146\/annurev.financial.050808.114326"},{"key":"key2020121320161899400_b24","unstructured":"Li, L.\n (2013), \u201cThe model and its application of fuzzy decision making with itself feedback based on weight matrix\u201d, \n Journal of Shandong Agricultural University: Natural Science\n , Vol. 44 No. 2, pp. 247-251 (in Chinese)."},{"key":"key2020121320161899400_b19","unstructured":"Li, L.\n , \n Wang, R.X.\n and \n Li, X.C.\n (2014a), \u201cOn parameters of GM(1, 1, \u03b2) model and applied for forecasting the added value of the financial industry\u201d, \n The Journal of Grey System\n , Vol. 26 No. 4, pp. 75-88."},{"key":"key2020121320161899400_b20","unstructured":"Li, X.C.\n , \n Zhang, G.B.\n , \n Qi, F.Y.\n and \n Cheng, S.H.\n (2014b), \u201cGrey cluster estimating model of soil organic matter content based on hyper-spectral data\u201d, \n The Journal of Grey System\n , Vol. 26 No. 2, pp. 28-37."},{"key":"key2020121320161899400_b29","unstructured":"Li, X.C.\n and \n Wang, J.\n (2007), \u201cThe model of multi objective and multidimensional fuzzy making decision with stability coefficient\u201d, \n Fuzzy Systems and Mathematics\n , Vol. 12 No. 6, pp. 128-134 (in Chinese)."},{"key":"key2020121320161899400_b21","unstructured":"Liu, S.F.\n and \n Xie, N.M.\n (2013), \n Grey System Theory and its Application\n , Science Press, Beijing (in Chinese)."},{"key":"key2020121320161899400_b27","doi-asserted-by":"crossref","unstructured":"Merton, R.C.\n (1992), \u201cFinancial innovation and economic performance\u201d, \n Journal of Applied Corporate Finance\n , Vol. 4 No. 4, pp. 12-22.","DOI":"10.1111\/j.1745-6622.1992.tb00214.x"},{"key":"key2020121320161899400_b26","doi-asserted-by":"crossref","unstructured":"Miller, M.H.\n (1986), \u201cFinancial innovation: the last twenty years and the next\u201d, \n Journal of Financial and Quantitative Analysis\n , Vol. 21 No. 4, pp. 459-471.","DOI":"10.2307\/2330693"},{"key":"key2020121320161899400_b13","doi-asserted-by":"crossref","unstructured":"Mon, D.L.\n , \n Cheng, C.H.\n and \n Lin, J.C.\n (1994), \u201cEvaluating weapon system using fuzzy analytic hierarchy process based on entropy weight\u201d, \n Fuzzy Sets and Systems\n , Vol. 62 No. 2, pp. 127-134.","DOI":"10.1016\/0165-0114(94)90052-3"},{"key":"key2020121320161899400_b4","doi-asserted-by":"crossref","unstructured":"Tufano, P.\n (1989), \u201cFinancial innovation and first-mover advantages\u201d, \n Journal of Financial Economics\n , Vol. 25 No. 2, pp. 213-240.","DOI":"10.1016\/0304-405X(89)90082-2"},{"key":"key2020121320161899400_b25","doi-asserted-by":"crossref","unstructured":"Tufano, P.\n (2003), \u201cFinancial innovation\u201d, \n Handbook of the Economics of Finance\n , Elsevier Science Ltd., Amsterdam, pp. 307-335.","DOI":"10.1016\/S1574-0102(03)01010-0"},{"key":"key2020121320161899400_b15","unstructured":"Wang, C.H.\n , \n Yang, S.R.\n and \n Dong, Q.\n (2006), \u201cResearch on combined entropy-weights coefficient method for targets selection decision making\u201d, \n Journal of Projectiles, Rockets, Missiles and Guidance\n , Vol. 26 No. 4, pp. 377-380 (in Chinese)."},{"key":"key2020121320161899400_b18","unstructured":"Wang, J.\n (2014), \u201cCross evaluation grey incidence decision model and its application in supplier selection\u201d, \n The Journal of Grey System\n , Vol. 26 No. 2, pp. 61-66."},{"key":"key2020121320161899400_b503","unstructured":"Wang, R.X.\n and \n Yu, P.\n (2004), \u201cReview of financial innovation theory\u201d, \n Economic Perspectives\n , Vol. 11 No. 5, pp. 90-94 (in Chinese)."},{"key":"key2020121320161899400_b16","unstructured":"Xu, Z.S.\n (2004), \u201cMethod for multi-attribute decision making with preference information on alternatives under partial weight information\u201d, \n Control and Decision\n , Vol. 19 No. 1, pp. 85-88 (in Chinese)."},{"key":"key2020121320161899400_b9","unstructured":"Yu, P.\n and \n Li, M.\n (2007), \u201cThe evaluation on financial innovative capability\u201d, \n Contemporary Economic Management\n , Vol. 29 No. 3, pp. 99-102 (in Chinese)."},{"key":"key2020121320161899400_b3","doi-asserted-by":"crossref","unstructured":"Zhang, C.\n , \n Zhu, Y.\n and \n Lu, Z.\n (2015), \u201cTrade openness, financial openness, and financial development in China\u201d, \n Journal of International Money and Finance\n , Vol. 59 No. 1, pp. 287-309.","DOI":"10.1016\/j.jimonfin.2015.07.010"},{"key":"key2020121320161899400_b2","unstructured":"Zhang, Q.L.\n , \n Bai, Y.P.\n and \n Wang, P.A.\n (2012), \u201cEmpirical study on the trans-regional financial flows between northwest and eastern in China\u201d, \n Advances in Computer Science and Engineering\n , Springer, Berlin and Heidelberg, pp. 529-537."},{"key":"key2020121320161899400_b11","unstructured":"Zhu, E.X.\n (2013), \u201cEvaluation on Chinese regional finance innovative capability based on factor analysis\u201d, \n Wuhan University Journal: Philosophy & Social Sciences\n , Vol. 14 No. 3, pp. 85-89 (in Chinese)."},{"key":"key2020121320161899400_frd1","unstructured":"Li, X.C.\n , and \n Wang, J.\n (2009), \u201cThe pattern of multi-objective and multi-dimensional grey-fuzzy decision with itself feedback\u201d, \n IEEE International Conference on Grey Systems and Intelligent Service\n , Vol. 2 No. 2, pp. 1087-1091."},{"key":"key2020121320161899400_frd2","doi-asserted-by":"crossref","unstructured":"Li, X.C.\n , \n Yu, T.\n , \n Wang, X.\n , \n Yuan, Z.\n and \n Shang, X.D.\n (2012), \u201cThe pattern of grey fuzzy forecasting with feedback\u201d, \n Kybernetes\n , Vol. 41 No. 5, pp. 568-576.","DOI":"10.1108\/03684921211243239"}],"container-title":["Grey Systems: Theory and Application"],"original-title":[],"language":"en","link":[{"URL":"http:\/\/www.emeraldinsight.com\/doi\/full-xml\/10.1108\/GS-02-2016-0006","content-type":"unspecified","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/GS-02-2016-0006\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/GS-02-2016-0006\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,7,25]],"date-time":"2025-07-25T00:45:32Z","timestamp":1753404332000},"score":1,"resource":{"primary":{"URL":"http:\/\/www.emerald.com\/gs\/article\/6\/2\/187-202\/82501"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2016,8,1]]},"references-count":29,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2016,8,1]]}},"alternative-id":["10.1108\/GS-02-2016-0006"],"URL":"https:\/\/doi.org\/10.1108\/gs-02-2016-0006","relation":{},"ISSN":["2043-9377"],"issn-type":[{"type":"print","value":"2043-9377"}],"subject":[],"published":{"date-parts":[[2016,8,1]]}}}