IDEAS home Printed from https://ideas.repec.org/a/ags/jpjjre/242156.html
   My bibliography  Save this article

Evaluation and Forecasting of the Financial Performance of the Unions of Rural Cooperatives by a Decision Support System

Author

Listed:
  • Koutroumanidis, Theodoros
  • Iliadis, Lazaros S.
  • Arabatzis, Garyfallos

Abstract

The evaluation and forecasting of the performance of the Unions of Rural Cooperatives (URC) can be performed through the use of various types of financial ratios, such as ratios of efficiency, reliability and management. A computer decision support system (DSS) was designed and implemented for this purpose. The system evaluates and ranks the URC by applying principles of multicriteria analysis. Assigning various weights to the financial ratios enacts different scenarios. Actually each scenario calls for a different type of evaluation. The types of evaluation are determined by a variety of performance indicators. Actual financial data concerning the URC of north Greece for the last ten years was used as input to the DSS. The DSS applies fuzzy logic in order to forecast the future performance of each URC. The application of the system with original financial URC data and the use of a fuzzy forecasting method constitute the original contribution of the paper. The paper can be used in any country of the world without any revisions.

Suggested Citation

  • Koutroumanidis, Theodoros & Iliadis, Lazaros S. & Arabatzis, Garyfallos, 2004. "Evaluation and Forecasting of the Financial Performance of the Unions of Rural Cooperatives by a Decision Support System," Japanese Journal of Agricultural Economics (formerly Japanese Journal of Rural Economics), Agricultural Economics Society of Japan (AESJ), vol. 6, pages 1-14.
    • Handle: RePEc:ags:jpjjre:242156
    DOI: 10.22004/ag.econ.242156
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/242156/files/Koutroumanidis-Iliadis-Arabatzis-04.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.242156?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Iliadis, Lazaros S. & Papastavrou, Anastasios K. & Lefakis, Panagiotis D., 2002. "A computer-system that classifies the prefectures of Greece in forest fire risk zones using fuzzy sets," Forest Policy and Economics, Elsevier, vol. 4(1), pages 43-54, May.
    2. Yves Evrard & R. Zisswiller, 1982. "Une analyse des décisions d'investissement fondée sur les modèles de choix multi-attributs," Working Papers hal-00612751, HAL.
    3. Brans, J. P. & Vincke, Ph. & Mareschal, B., 1986. "How to select and how to rank projects: The method," European Journal of Operational Research, Elsevier, vol. 24(2), pages 228-238, February.
    4. Alphonce, Christian B., 1997. "Application of the analytic hierarchy process in agriculture in developing countries," Agricultural Systems, Elsevier, vol. 53(1), pages 97-112, January.
    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. Georgios TSEKOUROPOULOS & Zacharoula ANDREOPOULOU & Christiana KOLIOUSKA & Theodoros KOUTROUMANIDIS & Christos BATZIOS & Panagiotis LEFAKIS, 2012. "Marketing Policies Through The Internet: The Case Of Skiing Centers In Greece," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 11(1), pages 66-78.
    2. Andreopoulou, Zacharoula & Koliouska, Christiana & Galariotis, Emilios & Zopounidis, Constantin, 2018. "Renewable energy sources: Using PROMETHEE II for ranking websites to support market opportunities," Technological Forecasting and Social Change, Elsevier, vol. 131(C), pages 31-37.
    3. Gray, B.C. & Lyne, Michael C. & Ferrer, Stuart R.D., 2004. "Measuring the performance of equity-share schemes in South African agriculture: A focus on financial criteria," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 43(4), pages 1-19, December.

    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. Andreopoulou, Zacharoula & Koliouska, Christiana & Galariotis, Emilios & Zopounidis, Constantin, 2018. "Renewable energy sources: Using PROMETHEE II for ranking websites to support market opportunities," Technological Forecasting and Social Change, Elsevier, vol. 131(C), pages 31-37.
    2. Zopounidis, C., 1999. "Multicriteria decision aid in financial management," European Journal of Operational Research, Elsevier, vol. 119(2), pages 404-415, December.
    3. Araz, Ceyhun & Ozkarahan, Irem, 2007. "Supplier evaluation and management system for strategic sourcing based on a new multicriteria sorting procedure," International Journal of Production Economics, Elsevier, vol. 106(2), pages 585-606, April.
    4. Yi Peng, 2015. "Regional earthquake vulnerability assessment using a combination of MCDM methods," Annals of Operations Research, Springer, vol. 234(1), pages 95-110, November.
    5. Denys Yemshanov & Frank H. Koch & Yakov Ben‐Haim & Marla Downing & Frank Sapio & Marty Siltanen, 2013. "A New Multicriteria Risk Mapping Approach Based on a Multiattribute Frontier Concept," Risk Analysis, John Wiley & Sons, vol. 33(9), pages 1694-1709, September.
    6. Majid Baseer & Christian Ghiaus & Roxane Viala & Ninon Gauthier & Souleymane Daniel, 2023. "pELECTRE-Tri: Probabilistic ELECTRE-Tri Method—Application for the Energy Renovation of Buildings," Energies, MDPI, vol. 16(14), pages 1-25, July.
    7. Guh, Yuh-Yuan, 1997. "Introduction to a new weighting method -- Hierarchy consistency analysis," European Journal of Operational Research, Elsevier, vol. 102(1), pages 215-226, October.
    8. Doukas, Haris & Patlitzianas, Konstantinos D. & Psarras, John, 2006. "Supporting sustainable electricity technologies in Greece using MCDM," Resources Policy, Elsevier, vol. 31(2), pages 129-136, June.
    9. Hajkowicz, Stefan, 2006. "Taking a closer look at multiple criteria analysis and economic evaluation," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 139785, Australian Agricultural and Resource Economics Society.
    10. Meløn, Mønica García & Aragonés Beltran, Pablo & Carmen González Cruz, M., 2008. "An AHP-based evaluation procedure for Innovative Educational Projects: A face-to-face vs. computer-mediated case study," Omega, Elsevier, vol. 36(5), pages 754-765, October.
    11. Luis C. Dias & Humberto Rocha, 2023. "A stochastic method for exploiting outranking relations in multicriteria choice problems," Annals of Operations Research, Springer, vol. 321(1), pages 165-189, February.
    12. Georgopoulou, E. & Sarafidis, Y. & Diakoulaki, D., 1998. "Design and implementation of a group DSS for sustaining renewable energies exploitation," European Journal of Operational Research, Elsevier, vol. 109(2), pages 483-500, September.
    13. Zhaoyu Cao & Yucheng Zou & Xu Zhao & Kairong Hong & Yanwei Zhang, 2021. "Multidimensional Fairness Equilibrium Evaluation of Urban Housing Expropriation Compensation Based on VIKOR," Mathematics, MDPI, vol. 9(4), pages 1-26, February.
    14. Kokaraki, Nikoleta & Hopfe, Christina J. & Robinson, Elaine & Nikolaidou, Elli, 2019. "Testing the reliability of deterministic multi-criteria decision-making methods using building performance simulation," Renewable and Sustainable Energy Reviews, Elsevier, vol. 112(C), pages 991-1007.
    15. Greco, Salvatore & Ishizaka, Alessio & Tasiou, Menelaos & Torrisi, Gianpiero, 2018. "σ-µ efficiency analysis: A new methodology for evaluating units through composite indices," MPRA Paper 83569, University Library of Munich, Germany.
    16. Juliana Martins Ruzante & Valerie J. Davidson & Julie Caswell & Aamir Fazil & John A. L. Cranfield & Spencer J. Henson & Sven M. Anders & Claudia Schmidt & Jeffrey M. Farber, 2010. "A Multifactorial Risk Prioritization Framework for Foodborne Pathogens," Risk Analysis, John Wiley & Sons, vol. 30(5), pages 724-742, May.
    17. J. M. Antón & J. B. Grau & J. M. Cisneros & A. M. Tarquis & F. V. Laguna & J. J. Cantero & D. Andina & E. Sánchez, 2016. "Discrete multi-criteria methods for lands use and conservation planning on La Colacha in Arroyos Menores (Río Cuarto, Province of Córdoba, Argentina)," Annals of Operations Research, Springer, vol. 245(1), pages 315-336, October.
    18. Mulliner, Emma & Smallbone, Kieran & Maliene, Vida, 2013. "An assessment of sustainable housing affordability using a multiple criteria decision making method," Omega, Elsevier, vol. 41(2), pages 270-279.
    19. Maria Morfoulaki & Jason Papathanasiou, 2021. "Use of the Sustainable Mobility Efficiency Index (SMEI) for Enhancing the Sustainable Urban Mobility in Greek Cities," Sustainability, MDPI, vol. 13(4), pages 1-16, February.
    20. Roberto Cervelló Royo & Fernando García García & Francisco Guijarro-Martínez & Ismael Moya-Clemente, 2011. "Housing Ranking: a model of equilibrium between buyers and sellers expectations," ERSA conference papers ersa11p314, European Regional Science Association.

    More about this item

    Keywords

    Farm Management;

    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:ags:jpjjre:242156. 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: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aesjjea.html .

    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.