MCDM evaluation of asset-based road freight transport companies using key drivers that influence the enterprise value

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.