Volume 27 , Issue 1 , PP: 278-295, 2026 | Cite this article as | XML | Html | PDF | Full Length Article
Phi-Hung Nguyen 1 , Lan-Anh Thi Nguyen 2 * , Thi-Lien Nguyen 3 , Anh-Phuong Danh Nguyen 4 , Hong-Nhung Thi Luong 5 , Bao-Giang Nguyen 6 , Thu-Huong Vu 7
Doi: https://doi.org/10.54216/IJNS.270125
Assessing investor trust is inherently complex, involving multiple interrelated factors and expert opinions that are often uncertain or inconsistent. Traditional Multi-Criteria Decision-Making (MCDM) methods face limitations in addressing such ambiguity, whereas Neutrosophic Sets provide a more robust alternative by separately modeling truth, indeterminacy, and falsity. This study proposes a three-stage Neutrosophic MCDM approach, consisting of NS-Delphi to consolidate expert input, NS-DEMATEL to analyze causal relationships, and NS-COCOSO to rank trust-related criteria, aimed at evaluating the determinants of investor trust in Vietnam’s supply chain finance (SCF) ecosystem. A case study demonstrates how this integrated model effectively captures expert hesitancy and causal interdependence. The findings highlight transparency, regulatory reliability, technological adoption, and ethical conduct as the most influential drivers of trust. Building on these insights, the study recommends several practical and policy-oriented strategies to enhance investor confidence: advancing digital transparency through blockchain and traceability systems, establishing legal safeguards to prevent financial fraud and protect investors, and promoting diversification in logistics investments to attract long-term capital and mitigate systemic risks. These implications provide a structured roadmap for policymakers, financial institutions, and SCF stakeholders seeking to foster a resilient and investor-friendly supply chain finance environment in Vietnam.
Investor trust , Supply Chain Finance (SCF) , Neutrosophic sets , Delphi , DEMATEL , COCOSO , MCDM
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