IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v12y2020i18p7259-d408932.html
   My bibliography  Save this article

MCDM Evaluation of Asset-Based Road Freight Transport Companies Using Key Drivers That Influence the Enterprise Value

Author

Listed:
  • Edvardas Liachovičius

    (Girteka Logistics, Račių g. 1, LT-03154 Vilnius, Lithuania)

  • Viktor Skrickij

    (Transport and Logistics Competence Centre, Vilnius Gediminas Technical University, Saulėtekio al. 11, LT-10223 Vilnius, Lithuania)

  • Askoldas Podviezko

    (Faculty of Public Governance and Business, Institute of Business and Economics, Mykolas Romeris University, Ateities g. 20, LT-08303 Vilnius, Lithuania)

Abstract

Business owners are trying to enhance company value by developing growth strategies. Besides, they need to know what supports and drives the attractiveness to potential investors. Previously to determine company value, only financial drivers were used. These are essential drivers; however, even they do not reflect the overall situation. This paper proposes a novel approach for the solution of the problem of business valuation by taking into account both financial and non-financial drivers and by using several MCDM (multiple criteria decision making) methods simultaneously both for establishing weights and for the evaluation itself. World-leading road freight transport companies were selected for a case study. MCDM methods were used for determining the weights of the drivers and comparing the listed companies. Key drivers were identified, and the ranking of companies is provided.

Suggested Citation

  • Edvardas Liachovičius & Viktor Skrickij & Askoldas Podviezko, 2020. "MCDM Evaluation of Asset-Based Road Freight Transport Companies Using Key Drivers That Influence the Enterprise Value," Sustainability, MDPI, vol. 12(18), pages 1-16, September.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:18:p:7259-:d:408932
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/12/18/7259/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/12/18/7259/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Hannan Amoozad Mahdiraji & Sepas Arzaghi & Gintaras Stauskis & Edmundas Kazimieras Zavadskas, 2018. "A Hybrid Fuzzy BWM-COPRAS Method for Analyzing Key Factors of Sustainable Architecture," Sustainability, MDPI, vol. 10(5), pages 1-26, May.
    2. Sevastjanov, Pavel & Dymova, Ludmila, 2009. "Stock screening with use of multiple criteria decision making and optimization," Omega, Elsevier, vol. 37(3), pages 659-671, June.
    3. Cinelli, Marco & Kadziński, Miłosz & Gonzalez, Michael & Słowiński, Roman, 2020. "How to support the application of multiple criteria decision analysis? Let us start with a comprehensive taxonomy," Omega, Elsevier, vol. 96(C).
    4. Vytautas Palevičius & Askoldas Podviezko & Henrikas Sivilevičius & Olegas Prentkovskis, 2018. "Decision-Aiding Evaluation of Public Infrastructure for Electric Vehicles in Cities and Resorts of Lithuania," Sustainability, MDPI, vol. 10(4), pages 1-17, March.
    5. MacDiarmid, J. & Tholana, T. & Musingwini, C., 2018. "Analysis of key value drivers for major mining companies for the period 2006–2015," Resources Policy, Elsevier, vol. 56(C), pages 16-30.
    6. Valentinas Podvezko, 2007. "Determining the level of agreement of expert estimates," International Journal of Management and Decision Making, Inderscience Enterprises Ltd, vol. 8(5/6), pages 586-600.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Luis Pérez-Dominguez & Sara-Nohemí Almeraz Durán & Roberto Romero López & Iván Juan Carlos Pérez-Olguin & David Luviano-Cruz & Jesús Andrés Hernández Gómez, 2021. "Assessment Urban Transport Service and Pythagorean Fuzzy Sets CODAS Method: A Case of Study of Ciudad Juárez," Sustainability, MDPI, vol. 13(3), pages 1-18, January.
    2. Kristina Vaičiūtė & Aušra Katinienė & Gintautas Bureika, 2022. "The Synergy between Technological Development and Logistic Cooperation of Road Transport Companies," Sustainability, MDPI, vol. 14(21), pages 1-22, November.
    3. Elzbieta Broniewicz & Karolina Ogrodnik, 2021. "A Comparative Evaluation of Multi-Criteria Analysis Methods for Sustainable Transport," Energies, MDPI, vol. 14(16), pages 1-23, August.
    4. Faruk Görçün, Ömer. & Chatterjee, Prasenjit. & Stević, Željko. & Küçükönder, Hande., 2024. "An integrated model for road freight transport firm selection in third-party logistics using T-spherical Fuzzy sets," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 186(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Edmundas Kazimieras Zavadskas & Jonas Šaparauskas & Jurgita Antucheviciene, 2018. "Sustainability in Construction Engineering," Sustainability, MDPI, vol. 10(7), pages 1-7, June.
    2. Khannoussi, Arwa & Meyer, Patrick & Chaubet, Aurore, 2023. "A multi-criteria decision aiding approach for upgrading public sewerage systems and its application to the city of Brest," Socio-Economic Planning Sciences, Elsevier, vol. 87(PA).
    3. Mohammed Ali Ahmed Al-Sharafi & Shu Tong & Abdullah Aloqab, 2021. "The Effective Role of Internal Factors on Reconstructing Telecom Companies: The Case of Yemen Telecom," Sustainability, MDPI, vol. 13(3), pages 1-23, February.
    4. Ricardo, Alexandre & Figueira, José Rui & Tavares, Luís Valadares, 2024. "Integrating confidence and preservation of information in the preference elicitation process: A lexicographic order approach for inconsistent judgments," Omega, Elsevier, vol. 129(C).
    5. Ali Nemati & Mohammad Assadi Shalmani & Qiang Lu & Jake Luo, 2025. "Benchmarking Large Language Models from Open and Closed Source Models to Apply Data Annotation for Free-Text Criteria in Healthcare," Future Internet, MDPI, vol. 17(4), pages 1-27, March.
    6. Marttunen, Mika & Haara, Arto & Hjerppe, Turo & Kurttila, Mikko & Liesiö, Juuso & Mustajoki, Jyri & Saarikoski, Heli & Tolvanen, Anne, 2023. "Parallel and comparative use of three multicriteria decision support methods in an environmental portfolio problem," European Journal of Operational Research, Elsevier, vol. 307(2), pages 842-859.
    7. Carayannis, Elias G. & Grigoroudis, Evangelos & Wurth, Bernd, 2022. "OR for entrepreneurial ecosystems: A problem-oriented review and agenda," European Journal of Operational Research, Elsevier, vol. 300(3), pages 791-808.
    8. Sarbast Moslem & Muhammet Gul & Danish Farooq & Erkan Celik & Omid Ghorbanzadeh & Thomas Blaschke, 2020. "An Integrated Approach of Best-Worst Method (BWM) and Triangular Fuzzy Sets for Evaluating Driver Behavior Factors Related to Road Safety," Mathematics, MDPI, vol. 8(3), pages 1-20, March.
    9. Francesco Ciardiello & Andrea Genovese, 2023. "A comparison between TOPSIS and SAW methods," Annals of Operations Research, Springer, vol. 325(2), pages 967-994, June.
    10. Weiliang Zhang & Sifeng Liu & Junliang Du & Liangyan Tao & Wenjie Dong & Muhammad Nawaz, 2024. "The evaluation of pension institution service quality in China: a novel method based on BWM and Grey-TOPSIS," OPSEARCH, Springer;Operational Research Society of India, vol. 61(3), pages 1562-1581, September.
    11. Flachs, Alexandre & De Smet, Yves, 2025. "Inverse optimization on the evaluations of alternatives in the Promethee II ranking method," Omega, Elsevier, vol. 136(C).
    12. Batyr Orazbayev & Kulman Orazbayeva & Yerbol Ospanov & Salamat Suleimenova & Lyailya Kurmangaziyeva & Valentina Makhatova & Yerlan Izbassarov & Aigerim Otebaeva, 2024. "Methods of Multi-Criteria Optimization of Technological Processes in a Fuzzy Environment Based on the Simplex Method and the Theory of Fuzzy Sets," Mathematics, MDPI, vol. 12(18), pages 1-22, September.
    13. Rodríguez-Espíndola, Oscar & Ahmadi, Hossein & Gastélum-Chavira, Diego & Ahumada-Valenzuela, Omar & Chowdhury, Soumyadeb & Dey, Prasanta Kumar & Albores, Pavel, 2023. "Humanitarian logistics optimization models: An investigation of decision-maker involvement and directions to promote implementation," Socio-Economic Planning Sciences, Elsevier, vol. 89(C).
    14. Shamekhi Amiri, Alireza & Torabi, S. Ali & Tavana, Madjid, 2025. "An assessment of the prominence and total engagement metrics for ranking interdependent attributes in DEMATEL and WINGS," Omega, Elsevier, vol. 130(C).
    15. Mu-Hsin Chang & James J. H. Liou & Huai-Wei Lo, 2019. "A Hybrid MCDM Model for Evaluating Strategic Alliance Partners in the Green Biopharmaceutical Industry," Sustainability, MDPI, vol. 11(15), pages 1-20, July.
    16. Silvia Angilella & Maria Rosaria Pappalardo, 2021. "Assessment of a failure prediction model in the energy sector: a multicriteria discrimination approach with Promethee based classification," Papers 2102.07656, arXiv.org.
    17. Susmaga, Robert & Szczȩch, Izabela & Zielniewicz, Piotr & Brzezinski, Dariusz, 2023. "MSD-space: Visualizing the inner-workings of TOPSIS aggregations," European Journal of Operational Research, Elsevier, vol. 308(1), pages 229-242.
    18. Xiaolu Long & Lizhi Liu & Qi Liu, 2024. "A Selection Model of Compositions and Proportions of Additive Lime Mortars for Restoration of Ancient Chinese Buildings Based on TOPSIS," Sustainability, MDPI, vol. 16(22), pages 1-19, November.
    19. Ehsan Javanmardi & Sifeng Liu & Naiming Xie, 2020. "Exploring Grey Systems Theory-Based Methods and Applications in Sustainability Studies: A Systematic Review Approach," Sustainability, MDPI, vol. 12(11), pages 1-32, May.
    20. Kadziński, Miłosz & Ciomek, Krzysztof, 2021. "Active learning strategies for interactive elicitation of assignment examples for threshold-based multiple criteria sorting," European Journal of Operational Research, Elsevier, vol. 293(2), pages 658-680.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:12:y:2020:i:18:p:7259-:d:408932. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.