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AHP was introduced and developed by Thomas Saaty (1977) that is widely known to address problems related to business dilemmas and used by both government and business organizations (Millet, 1998). Hence, the study consists of developing and constructing an Analytic Hierarchy Process model (AHP). Thus, different theories were investigated to drive the related criteria and sub-criteria to fully cover the examination process. In the context of this study, we will focus on the objective of measuring the performance of the big listed companies in the UAE financial market, those companies, which hold the most critical impact on the market. As reported by the MENA report (2016) there was a dramatic jump in financial crimes to over 43,000 alerts – one every 12 minutes (10 th GCC Summit). Last, the rapidly growing figure in financial crimes within the financial market.
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Second, the observed lack of compliance from the listed companies withers to corporate codes or some unethical conduct. First, the continuous pitfalls and volatility of the share prices, which causes a fluctuation in the performanceof the UAE Financial Market. Theories and their related criteria are very important for examining the performance of the listed companies because of several reasons. Collaboration between theories helps in predicting the outcome, allows analysts to describe the sequence of events, and prevents confusion through providing tools for a coherent understanding of the real world (Petter Gottschalk, 2010). Upon examination of each, we found another set of theories required to fully describe the relationship, and to complete the suggested Analytic Hierarchy Process model. We mainly label two theories: Agency theory and Legitimacy theory.įrom these theories, we managed to identify four important criteria: corporate governance, corporate social responsibility, corporate sustainability, and leadership. Several theories were found with a need for collaboration to properly derive all the required relationships. In the context of this study, we searched the theoretical explanation of several aspects related to the financial performance of firms, were a linkage between theories was established to build the proper framework for this study. An explanatory theoretical framework that explains the performance and drives a set of criteria, such as the inter-relationship is well examined and investigated. Nevertheless, this study, our examination of market performance took another scope, to understand and fully capture the overall picture of all questions arising around the performance of the listed companies in the UAE financial market, there is a need for theory development. If you have mastered and thoroughly understood the preceding usual measurements used to examine the Financial Market, you would suggest the very common measurements such as the related ratios: Return on Asset, Return on Investment & Return on Equity (ROA, ROI & ROE), share prices, market capitalization or dividends. Finally, the entire framework is new and has not been identified in previous literature. Third, this paper will provide a new insight to authority, as it will identify some gaps in the corporate practices and compliance in relation with different financial auditing, which will help not only in mitigating risks but also in improving the listed companies performance over the long run. Second, the present paper provides an examination of the performance of the big listed companies in the UAE Financial Market to reach a possible alternative that will lower the level of fluctuation in the stock exchange, which is considered among the first initiatives in the field. First, it is an answer to the most recent calls from experts in the MENA region regarding the new trends faced in the financial market. This paper makes several important contributions to literature. With the least emphasis on the outcome based leadership. The finding of our study shows the importance of corporate governance in improving the overall financial performance of the listed companies in the UAE. These criteria were then analyzed using the analytic hierarchy process (AHP) powerful mechanisms using information collected by a developed questionnaire that compares and sets priority between each element in the designed AHP model. Agency theory and legitimacy theory were studied in which four criteria were extracted (corporate governance, corporate social responsibility, sustainability, and leadership). This paper aims to explore several issues related to the financial performance of the listed companies in the UAE financial market.