An integrated assessment of Lithuanian economic sectors based on financial ratios and fuzzy MCDM methods
The aim of this study was to offer a novel procedure for integrated assessment and comparison of Lithuanian economic sectors on the basis of financial ratios and fuzzy MCDM methods. The complex of interrelated issues regarding integrated assessment of economic sectors is discussed in the paper. The...
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| Format: | Article |
| Language: | English |
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Vilnius Gediminas Technical University
2012-04-01
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| Series: | Technological and Economic Development of Economy |
| Subjects: | |
| Online Access: | http://www.bjrbe.vgtu.lt/index.php/TEDE/article/view/4677 |
| _version_ | 1818391122169298944 |
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| author | Alvydas Baležentis Tomas Baležentis Algimantas Misiūnas |
| author_facet | Alvydas Baležentis Tomas Baležentis Algimantas Misiūnas |
| author_sort | Alvydas Baležentis |
| collection | DOAJ |
| description | The aim of this study was to offer a novel procedure for integrated assessment and comparison of Lithuanian economic sectors on the basis of financial ratios and fuzzy MCDM methods. The complex of interrelated issues regarding integrated assessment of economic sectors is discussed in the paper. The object of research is financial indicators of different Lithuanian economic sectors. The proposed procedure for multi-criteria comparison of economic sectors encompasses: 1) the indicator system, 2) application of fuzzy MCDM methods, and 3) inter-sectoral comparison based on ranks provided by fuzzy MCDM methods. The research covers period of 2007–2010, starting at the very beginning of the economic recession and, hopefully, ending with the upcoming recovery. The application of the three MCDM methods was successful. The results suggested the best performing sector being that of forestry and logging. Furthermore, enterprises operating in trade sector, hospitality sector, mining and quarrying sector, information sector, or manufacturing sector can be considered as working more efficiently than an average Lithuanian enterprise. At the other end of spectrum, construction, real estate, and transportation sectors were those severely damaged by the economic crisis: they were ranked below the average alternative. Meanwhile, relatively low positions of utilities sectors may be caused by their specifics. Finally, the transport sector can be considered as the typical victim of economic downturn. |
| first_indexed | 2024-12-14T05:08:30Z |
| format | Article |
| id | doaj.art-56b884e283104ca0aa300dbdc22224fc |
| institution | Directory Open Access Journal |
| issn | 2029-4913 2029-4921 |
| language | English |
| last_indexed | 2024-12-14T05:08:30Z |
| publishDate | 2012-04-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Technological and Economic Development of Economy |
| spelling | doaj.art-56b884e283104ca0aa300dbdc22224fc2022-12-21T23:16:02ZengVilnius Gediminas Technical UniversityTechnological and Economic Development of Economy2029-49132029-49212012-04-0118110.3846/20294913.2012.656151An integrated assessment of Lithuanian economic sectors based on financial ratios and fuzzy MCDM methodsAlvydas Baležentis0Tomas Baležentis1Algimantas Misiūnas2Mykolas Romeris University, Valakupių g. 5, LT-10101 Vilnius, LithuaniaVilnius University, Saulėtekio al. 9, LT-10222 Vilnius, LithuaniaVilnius University, Saulėtekio al. 9, LT-10222 Vilnius, LithuaniaThe aim of this study was to offer a novel procedure for integrated assessment and comparison of Lithuanian economic sectors on the basis of financial ratios and fuzzy MCDM methods. The complex of interrelated issues regarding integrated assessment of economic sectors is discussed in the paper. The object of research is financial indicators of different Lithuanian economic sectors. The proposed procedure for multi-criteria comparison of economic sectors encompasses: 1) the indicator system, 2) application of fuzzy MCDM methods, and 3) inter-sectoral comparison based on ranks provided by fuzzy MCDM methods. The research covers period of 2007–2010, starting at the very beginning of the economic recession and, hopefully, ending with the upcoming recovery. The application of the three MCDM methods was successful. The results suggested the best performing sector being that of forestry and logging. Furthermore, enterprises operating in trade sector, hospitality sector, mining and quarrying sector, information sector, or manufacturing sector can be considered as working more efficiently than an average Lithuanian enterprise. At the other end of spectrum, construction, real estate, and transportation sectors were those severely damaged by the economic crisis: they were ranked below the average alternative. Meanwhile, relatively low positions of utilities sectors may be caused by their specifics. Finally, the transport sector can be considered as the typical victim of economic downturn.http://www.bjrbe.vgtu.lt/index.php/TEDE/article/view/4677financial ratioseconomic sectorsLithuaniafuzzy numberVIKORTOPSIS |
| spellingShingle | Alvydas Baležentis Tomas Baležentis Algimantas Misiūnas An integrated assessment of Lithuanian economic sectors based on financial ratios and fuzzy MCDM methods Technological and Economic Development of Economy financial ratios economic sectors Lithuania fuzzy number VIKOR TOPSIS |
| title | An integrated assessment of Lithuanian economic sectors based on financial ratios and fuzzy MCDM methods |
| title_full | An integrated assessment of Lithuanian economic sectors based on financial ratios and fuzzy MCDM methods |
| title_fullStr | An integrated assessment of Lithuanian economic sectors based on financial ratios and fuzzy MCDM methods |
| title_full_unstemmed | An integrated assessment of Lithuanian economic sectors based on financial ratios and fuzzy MCDM methods |
| title_short | An integrated assessment of Lithuanian economic sectors based on financial ratios and fuzzy MCDM methods |
| title_sort | integrated assessment of lithuanian economic sectors based on financial ratios and fuzzy mcdm methods |
| topic | financial ratios economic sectors Lithuania fuzzy number VIKOR TOPSIS |
| url | http://www.bjrbe.vgtu.lt/index.php/TEDE/article/view/4677 |
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