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Title: An assessment of scientific research performance for ranking countries from EU Authors:  Florentin Serban - Bucharest University of Economic Studies (Romania) [presenting]
Anca-Teodora Serban-Oprescu - Bucharest University of Economic Studies (Romania)
Abstract: The design of a balanced development strategy for a certain activity of an organization entails creating rankings of various entities relevant for that activity. The concept of entropy is widely used in decision-making problems as a useful instrument to assess the amount and effect of information provided by certain criteria used to construct a composite indicator. We propose a practical approach to evaluate academic performance, which can be applied when the values of several indicators are available for every EU country under observation. The method is based on the construction of a composite indicator, defined as the weighted sum of the indicators considered in the study. The weights of the indicators stand as a measure of importance for each criterion involved in defining the composite indicator. We present an application which aims to analyze several countries within EU in terms of their scientific research output. Numerical results for the considered EU countries are presented.