Evaluating the business success of an enterprise is clearly one of the most important research problems in economy. Usually in business analyses we determine the priority angle from which we observe the enterprise, and on that basis we evaluate and rank them according to business performance. Another approach is to include various methods of multi-criteria analysis, which enable us to observe the business success from different aspects, while still the question remains which of the business segments (efficiency, profitability, liquidity or market value) should be given priority in the analysis. The idea of this paper is that by using methods of multi-criteria and multivariate analyses we can classify and rank groups of related enterprises, while also determining the relative importance of each of their business segments. The relative importance is determined by calculating the weight coefficients, which in fact represent the contribution of each of the business criteria to the final rankings of the studied enterprises. In addition to determining the relative importance of the criteria of business success, this analysis allows the determination of significance of each indicator in the context of the observed criteria. Even though the ranking methodology in this paper is applied to enterprises in the mining industry, it is suitable for other industries as well.

Read online

Download this PDF file

Dobrota, M., Bulajić, M., Bormann, L., Jeremić, V.,: „A new approach to QS university ranking using composite I-distance indicator: Uncertainty and sensitivity analyses“, Journal of the Association for Information Science and Technology. Epub ahead of print 13 February 2015.

Bogojević-Arsić, V. (2005), Korporativne finansije, Fakultet organizacionih nauka, Beograd.

Brealey A. R., Myers C. S., Marcus J. A. (2001), Fundamentals of Corporate Finance, University of Phoenix, Phoenix.

Graham, B. (2003), The Intelligent Investor, HarperCollins Publishers (Australia) Pty. Ltd.

Graham, B., Dodd, D. (1934), “Security Analysis”, McGraw-Hill Book Company, New York and London.

Žarkić Joksimović, N., Bogojević Arsić, V. (1998), Analiza finansijskih performansi preduzeća, Grafosolog, Beograd.

Žižić M., Lovrić M., Pavličić D. (2005), Metodi statističke analize, Ekonomski fakultet Beograd.

Zahirović S. (2005), Multivarijaciona analiza, Infograf, Tuzla.

Ivanišević, M. (2009), Poslovne finansije, Ekonomski fakultet, Beograd.

Ivanović, B., Classification Theory, Institute for Industrial Economics, Belgrade, 1977.

Jeremić, V., Jovanović-Milenković, M., Radojčić, Z., Martić, M.,: „Excellence with Leadership:the crown indicator of SCImago Institutions Rankings Iber report”,El profesional de la información, September-October, v. 22, n. 5, pp. 474-480.

Jovanović-Milenković, M., Brajović, V., Milenković, D., Vukimirović, D., Jeremić, V.,: Beyond the equal-weight framework of the Networked Readiness Index: a multilevel I-distance methodology“, Information Development 1-17, 2015.

Mayo, B., H. (2008), Investments: Introduce in Investment, Thomson South-Western, USA.

Maričić, M., Kostić-Stanković, M., Towards an impartial Responsible Competitiveness Index: A twofold multivariate I-distance approach Quality and Quantity, Epub ahead of print 5 December 2014.

Reilly, F., Brown, K. (2002), Investment Analysis Portfolio Management, 7th Edition, South-Western College Pub.

Rose, J. (2003), Corpoorate finance, Sixth Edition, McGraw-Hill Primis.

Fabozzi, J., Peterson Drake, P. (2009), Finance: capital markets, financial management and investment management, New Jersey: John Wiley & Sons.

Pešelј, B. (2006), Merenje performansi preduzeća – tradicionalni i savremeni sistemi, Centar za izdavačku delatnost Ekonomskog fakulteta u Beogradu, Beograd.

Hegstrom, R. (2006), Voren Bafet za sva vremena, Plato, Beograd.

Internet stranice: www.belex.rs