CRiterion Importance Based on SUm of Squares (CRISUS): A Novel Objective Weighting Method and Its Implementation in Multidimensional Sustainability Performance Measurement

Analysing multidimensional corporate sustainability performance is a highly complex and critical decision-making challenge that requires consideration of multiple and often conflicting performance criteria.To address this challenge, a novel methodological approach that integrates the CRiterion Importance based on the SUm of Squares (CRISUS) procedure and the Root Assessment Method (RAM) procedure has been proposed in the present research.The proposed framework employs a newly developed weighting technique, CRISUS, to ascertain the objective importance weights of performance criteria and the RAM algorithm to rank the performance of decision alternatives.To demonstrate the applicability and aptness of the proposed decision-making methodology, a real case study involving seven BIST-listed food and beverage (F&B) firms and seven assessment criteria based on financial, environmental, social, and governance indicators is selected.Lastly, the robustness check conducted to ascertain the validity of the developed hybrid framework has confirmed the accuracy and stability of the outputs produced by the model.