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Multicriteria analysis and assessment of financial viability of agribusinesses: The case of marketing co-operatives and juice-producing companies

Author

Listed:
  • George Baourakis

    (Department of Economics, Management Sciences and Marketing, Mediterranean Agronomic Institute of Chania, P.O. Box 85, 73 100 Chania, Crete, Greece)

  • Michael Doumpos

    (Department of Production Engineering and Management, Financial Engineering Laboratory, Technical University of Crete, University Campus, 73 100 Chania, Crete, Greece)

  • Nikos Kalogeras

    (Department of Economics, Management Sciences and Marketing, Mediterranean Agronomic Institute of Chania, P.O. Box 85, 73 100, Chania, Crete, Greece)

  • Constantin Zopounidis

    (Department of Production Engineering and Management, Financial Engineering Laboratory, Technical University of Crete, University Campus, 73 100 Chania, Crete, Greece)

Abstract

Our main purpose here is to assess the viability of Greek companies that operate in the field of agricultural food-production and marketing. More specifically, we present the basic operational framework within which the agricultural organizations of co-operatives operate; we also examine the main features of the juice market. The analysis concerns the periods 1993-1998 (for the co-operatives) and 1994-1998 (for juice-producing firms), and is based upon the financial characteristics of 10 agricultural co-operative organizations and 2 investor-owned firms established and operating on the largest Greek island, Crete, and the 15 largest (in economic and financial terms) juice-producing companies in Greece. The assessment procedure includes data analysis techniques in combination with a multicriteria analysis method (the PROMETHEE II method). The analysis results in an overall ranking of the examined firms' performance. This indicates the strengths and weaknesses of the firms involved with regard to their financial behavior, thereby contributing to the identification of the imperfections of the examined firms. © 2002 Wiley Periodicals, Inc.

Suggested Citation

  • George Baourakis & Michael Doumpos & Nikos Kalogeras & Constantin Zopounidis, 2002. "Multicriteria analysis and assessment of financial viability of agribusinesses: The case of marketing co-operatives and juice-producing companies," Agribusiness, John Wiley & Sons, Ltd., vol. 18(4), pages 543-558.
    • Handle: RePEc:wly:agribz:v:18:y:2002:i:4:p:543-558
    DOI: 10.1002/agr.10031
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    References listed on IDEAS

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    1. Kimberly A. Zeuli, 1999. "New Risk-Management Strategies for Agricultural Cooperatives," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(5), pages 1234-1239.
    2. Anderson, Jock R. & Dillon, John L. & Hardaker, Brian, 1977. "Agricultural Decision Analysis," Monographs: Applied Economics, AgEcon Search, number 288652, July.
    3. Anderson, Jock R. & Feder, Gershon, 2007. "Agricultural Extension," Handbook of Agricultural Economics, in: Robert Evenson & Prabhu Pingali (ed.), Handbook of Agricultural Economics, edition 1, volume 3, chapter 44, pages 2343-2378, Elsevier.
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    Cited by:

    1. Marco Fazzini & Antonella Russo, 2014. "Profitability in the Italian Wine Sector: An Empirical Analysis of Cooperatives and Investor-Owned Firms," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(3), pages 130-137, July.
    2. Theo Benos & Nikos Kalogeras & Martin Wetzels & Ko De Ruyter & Joost M. E. Pennings, 2018. "Harnessing a ‘Currency Matrix’ for Performance Measurement in Cooperatives: A Multi-Phased Study," Sustainability, MDPI, vol. 10(12), pages 1-38, December.
    3. Elena MELIA-MARTI & Ana Maria MARTINEZ-GARCIA, 2015. "Characterization And Analysis Of Cooperative Mergers And Their Results," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 86(3), pages 479-504, September.
    4. Pascal L. Ghazalian, 2016. "Processed Food Trade of Greece with EU and Non-EU Countries: An Empirical Analysis," International Journal of Food and Beverage Manufacturing and Business Models (IJFBMBM), IGI Global, vol. 1(2), pages 15-30, July.
    5. Behzadian, Majid & Kazemzadeh, R.B. & Albadvi, A. & Aghdasi, M., 2010. "PROMETHEE: A comprehensive literature review on methodologies and applications," European Journal of Operational Research, Elsevier, vol. 200(1), pages 198-215, January.
    6. Beynon, Malcolm J. & Wells, Peter, 2008. "The lean improvement of the chemical emissions of motor vehicles based on preference ranking: A PROMETHEE uncertainty analysis," Omega, Elsevier, vol. 36(3), pages 384-394, June.
    7. de Almeida Filho, Adiel T. & Clemente, Thárcylla R.N. & Morais, Danielle Costa & de Almeida, Adiel Teixeira, 2018. "Preference modeling experiments with surrogate weighting procedures for the PROMETHEE method," European Journal of Operational Research, Elsevier, vol. 264(2), pages 453-461.
    8. Theo Benos & Nikos Kalogeras & Frans J.H.M. Verhees & Panagiota Sergaki & Joost M.E. Pennings, 2016. "Cooperatives’ Organizational Restructuring, Strategic Attributes, and Performance: The Case of Agribusiness Cooperatives in Greece," Agribusiness, John Wiley & Sons, Ltd., vol. 32(1), pages 127-150, January.

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