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

Edvardas Liachovičius (), Viktor Skrickij () and Askoldas Podviezko ()
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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

Sustainability, 2020, vol. 12, issue 18, 1-17

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.

Keywords: value drivers; financial performance; MCDM; business valuation; road freight transport (search for similar items in EconPapers)
JEL-codes: Q Q0 Q2 Q3 Q5 Q56 O13 (search for similar items in EconPapers)
Date: 2020
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