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Measurement and Analysis of Dynamics of Financial Performance and Efficiency of Trade in Serbia Using Iftopsis and Topsis Methods

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  • Radojko LUKIĆ

    (University of Belgrade, Serbia)

Abstract

Due to the nature of the trade, it is challenging to research the factors of the dynamics of financial performance and trade efficiency in Serbia. With this in mind, this paper measures and analyses the dynamics of financial performance and trade efficiency in Serbia using the IFTOPSI and TOPSIS methods. The results obtained from empirical research show that according to the IFTOPSIS method, the top five years in order include: 2004, 2020, 2015, 2007 and 2017. The worst year is 2006; and according to the TOPSIS method, the top five years in order include: 2020, 2019, 2017, 2018 and 2011. The worst year is 2002. Recently, according to both methods, the financial performance and efficiency of trade in Serbia have improved. This was influenced by: economic climate, inflation, exchange rate, inflow of foreign direct investments, management of human resources, assets, capital, sales and profit, implementation of new business models (multichannel sales, sales of organic products, private label), cost management (for example, costing by activity), customers and product categories. The digitisation of the entire business has a significant role in this. The impact of the COVID-19 pandemic has been mitigated with e-commerce. Adequate control of these and other factors can influence the achievement of the target financial performance and trade efficiency in Serbia.

Suggested Citation

  • Radojko LUKIĆ, 2023. "Measurement and Analysis of Dynamics of Financial Performance and Efficiency of Trade in Serbia Using Iftopsis and Topsis Methods," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 8(2), pages 201-219, June.
    • Handle: RePEc:rom:merase:v:8:y:2023:i:2:p:201-219
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    References listed on IDEAS

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    1. Nazli ERSOY, 2017. "Performance Measurement in Retail Industry By Using A Multi-Criteria Decision Making Methods," Ege Academic Review, Ege University Faculty of Economics and Administrative Sciences, vol. 17(4), pages 539-551.
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    More about this item

    Keywords

    financial performance; efficiency; factors; Serbian trade; IFTOPSIS-TOPSIS method.;
    All these keywords.

    JEL classification:

    • 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
    • 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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