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Comparative Analysis of Transport and Storage Information Systems of the European Union and Serbia Using Fuzzy LMAW and MARCOS Methods


  • John T. Ayoolа

    (Department of Management and Accounting Obafemi Awolowo University, Ile Ife, Nigeria)

  • Ayokunle O. Odusina

    (Department of AccountancyAbraham Adesanya Polytechnic, Ijebu Igbo, Nigeria)


The study analyzed the cost efficiency of a subset of Nigerian listed financial firms and looked at the impact of corporate governance on the subset of listed financial enterprises. Additionally, it evaluated how corporate governance affected the chosen listed financial organizations in Nigeria taking into consideration capital structure and cost efficiency. They were with the intention of supplying details on the interactions between capital structure, corporate governance, and cost efficiency in a number of Nigerian financial organizations between 2005 and 2020 which is the post-consolidation period and the time the country was affected by the infamous virus that shook the whole world. The objective of this study is to examine the capital structure, and corporate governance on cost efficiency of selected listed financial firms in Nigeria. The study used secondary data from 20 quoted, carefully chosen financial firms in Nigeria and used a descriptive survey design. These data were analyzed using Stochastic Frontier Analysis (SFA) and the findings indicated that the deposit money banks in Nigeria had an average cost of efficiency of 54.6%. The capital structure was significantly impacted by corporate governance factors such as board size (t= 2.285, p0.05) and board expertise (t=-2.311, p0.05). Finally, the outcome demonstrated that elements of corporate governance such as board size (t=-2.807, p 0.05), board independence, and board composition, which acted as intermediary variables between corporate governance and cost-effectiveness, were both statistically significant at the 5% level. According to the study's findings, there was a significant association between cost-effectiveness, corporate governance, and capital structure.

Suggested Citation

  • John T. Ayoolа & Ayokunle O. Odusina, 2023. "Comparative Analysis of Transport and Storage Information Systems of the European Union and Serbia Using Fuzzy LMAW and MARCOS Methods," Economy, Business & Development: An International Journal, Ss. Cyril and Methodius University in Skopje, Faculty of Economics-Skopje, vol. 4(1), pages 19-35, May.
  • Handle: RePEc:aoh:journl:v:4:y:2023:i:1:p:19-35
    DOI: 10.47063/ebd.00012

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    More about this item


    Information system; transport; and storage; European Union; Serbia; FLMAW -MARCOS method;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • P25 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Urban, Rural, and Regional Economics
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D


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