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An Empirical Study of Hybrid DEA and Grey System Theory on Analyzing Performance: A Case from Indian Mining Industry

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  • Lai-Wang Wang
  • Thanh-Tuyen Tran
  • Nhu-Ty Nguyen

Abstract

India, which has long been recognized as a well-endowed nation in natural mineral resources, is a major minerals producer. According to the report of Indian Ministry of Mines 2013, Indian mining and metals sector ranked the fourth among the mineral producer countries, behind China, United States, and Russia and had in fact led the economy into recovery from the global financial crisis. Since this industry has turned into a significant issue, this paper attempts to rank the performance of 23 Indian mining and metal companies and to evaluate and measure the productivity change of these sectors during different time periods (2010–2014). Besides, the authors would like to choose one advanced model of MPI to see the performance of these companies in the past-present period and the 4-year future period (2015–2018) by using forecasting results of Grey system theory. The results revealed that from the past to future period the National Mineral Development Corporation, Hindalco Industries Limited, and Coal India always keep their highest best rankings among 23 DMUs regarding performance scores. This study contributes better insights of Indian mining industry as it is the core of the economy.

Suggested Citation

  • Lai-Wang Wang & Thanh-Tuyen Tran & Nhu-Ty Nguyen, 2015. "An Empirical Study of Hybrid DEA and Grey System Theory on Analyzing Performance: A Case from Indian Mining Industry," Journal of Applied Mathematics, Hindawi, vol. 2015, pages 1-15, January.
    • Handle: RePEc:hin:jnljam:395360
    DOI: 10.1155/2015/395360
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    Cited by:

    1. Nhu-Ty Nguyen, 2020. "Performance Evaluation in Strategic Alliances: A Case of Vietnamese Construction Industry," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 21(1), pages 85-99, March.
    2. Malin Song & Jianlin Wang & Jiajia Zhao & Tomas Baležentis & Zhiyang Shen, 2020. "Production and safety efficiency evaluation in Chinese coal mines: accident deaths as undesirable output," Annals of Operations Research, Springer, vol. 291(1), pages 827-845, August.

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