Date Added: Oct 2011
Now-a-days ranking is an important matter for mangers. Determining the competitiveness of the firms and evaluating the financial performance of them is also crucial for the sector's development. The aim of this paper is applying a model to evaluate the performance of the firms by using financial ratios and at the same time, taking subjective judgments of decision makers into consideration. Proposed approach is based on Analytic Hierarchy Process (AHP) and VIKOR (VlseKriterijumska Optimizacija I Kompromisno Resenje) methods. AHP method is used in determining the weights of the criteria by decision makers and then rankings of the firms are determined by VIKOR method.