Analysis of the Greek Coastal Shipping Companies with a Multi-Criteria Evaluation Model

Abstract

This paper deals with the application of Multi-Criteria Decision Making (MCDM) techniques for the problem of the overall evaluation of the Greek Coastal Shipping (GCS) companies, and it focuses on the needs of lenders and investors. The importance of GCS is very high for the Greek society, as it demands regulation consistent also with European practices. It also demands efficient transport network operations for social and economic reasons and close financial monitoring as the important actors are listed at the Athens Stock Exchange (ASE). Lately, these companies have experienced growth, as a result of the partial deregulation of the industry, of the equity inflow from the ASE and the introduction of new vessels in service. The analysis period is extended from the fiscal year of 1997 up to 2002; this is a result of the availability of the data and their integrity check.