Journal
JOURNAL OF MANAGEMENT ANALYTICS
Volume 8, Issue 4, Pages 693-714Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/23270012.2021.1881927
Keywords
decision analysis; interpretive structural modeling; structural equation modeling; combined model
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ISM is an interactive process that may suffer from reliance on intuition and judgment. To enhance this method, ESM is proposed, offering a statistically verifiable framework and a graphical, hierarchical, and intuitive model.
Interpretive structural modeling (ISM) is an interactive process in which a malformed (bad structured) problem is structured into a comprehensive systematic model. Yet, despite many advantages that ISM provides, this method has some shortcomings, the most important one of which is its reliance on participants' intuition and judgment. This problem undermines the validity of ISM. To solve this problem and further enhance the ISM method, the present study proposes a method called equation structural modeling (ESM), which draws on the capacities of structural equation modeling (SEM). As such, ESM provides a statistically verifiable framework and provides a graphical, hierarchical and intuitive model.
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