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

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  • 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
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    References listed on IDEAS

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    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. 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.
    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.

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