Affiliations: [a]
College of Economics and Management, Jiangsu University of Science and Technology, Zhenjiang, Jiangsu, PR China | [b]
College of Mathematical Sciences, Yangzhou University, Jiangsu, PR China
Correspondence:
[*]
Corresponding author. Peng Li, College of Economics and Management, Jiangsu University of Science and Technology, Zhenjiang, Jiangsu 212003, PR China. E-mail: [email protected].
Abstract: In recent years, to address the continued aging of China’s population, the Chinese government has focused on the issue of pensions through a series of pension policies. The traditional system of institutional pensions is facing serious challenges, with a variety of novel pension modes placing them under enormous pressure. Furthermore, the development of institutional pensions has been restricted by many factors, such as long construction cycles and high fees, meaning that this traditional system no longer meets the pension needs of the elderly. Improving the service quality of institutional pensions is inevitable for future progress. Thus, identifying the key factors that influence the service quality of institutional pensions, and understanding the relationships between these factors, is hugely significant. Furthermore, traditional decision-making trial and evaluation laboratory (DEMATEL) method can not solve this problem because the number of factors is too large. To address these issues, we establish an evaluation system for Chinese pension institutions, and propose a hierarchical DEMATEL model based on probabilistic linguistic term sets (PLTSs), which can help decision makers to find the key factors influencing service quality in institutional pensions and deal with the evaluation problem with a large number of criteria. The proposed hierarchical DEMATEL model based on PLTSs fully reflects experts’ preferences and evaluation information, and is able to identify the directions in which China’s pension institutions should improve their quality of service. In addition, we use the best-worst method (BWM) to calculate the importance values of each subsystem, which makes the cause-effect relationship between subsystems more reasonable than the traditional DEMATEL method. Finally, we apply our method to evaluate nursing homes in Zhenjiang, Jiangsu province and propose some managerial implications.
