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Application of bootstrap re-sampling method in statistical measurement of sustainability

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  • Khosravi, Faramarz
  • Izbirak, Gokhan
  • Shavarani, Seyed Mahdi

Abstract

Sustainability is of essential interest for many organizations and is defined as the ability to maintain existing resources at a certain rate or level when encountered with barriers. Factors affecting sustainability are categorized as enablers (capacities) and barriers (challenges) that have positive and negative effects on sustainability, respectively. To evaluate the status of sustainability, organizations need a measurement method to account for all the aspects of the sustainability classified into social, economic, and environmental tiers. Previously many researchers have provided indexes and measure specific to the studied field, which is not applicable to other areas. Furthermore, the proposed methods fail to cover all the aspects of sustainability. This study investigates a statistical method to measure the sustainability and the application of the bootstrap re-sampling method in order to overcome the problem with normality assumption when the sample size is not large enough and thus develop a more realistic stochastic model. The Bootstrap re-sampling method enables the unbiased estimation of population parameters such as mean and standard deviation. The proposed method is evaluated by comparing its results with those found in the literature.

Suggested Citation

  • Khosravi, Faramarz & Izbirak, Gokhan & Shavarani, Seyed Mahdi, 2021. "Application of bootstrap re-sampling method in statistical measurement of sustainability," Socio-Economic Planning Sciences, Elsevier, vol. 75(C).
    • Handle: RePEc:eee:soceps:v:75:y:2021:i:c:s0038012119303416
    DOI: 10.1016/j.seps.2020.100781
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    1. Gallucci, Carmen & Santulli, Rosalia & Lagasio, Valentina, 2022. "The conceptualization of environmental, social and governance risks in portfolio studies A systematic literature review," Socio-Economic Planning Sciences, Elsevier, vol. 84(C).

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