Complex evaluation of the economic crisis impact on Lithuanian industries
Complex evaluation of the economic crisis impact on Lithuanian industries

Summary/Abstract: The paper analyses the impact of the economic crisis of 2008 on Lithuanian industries. The research involves 68 industries identified according to the 2nd-digit level classification of economic activities by Statistics Lithuania. Considering industry to be a complex phenomenon, the crisis effect is evaluated complexly on the basis of the system of 10 financial state and performance indicators belonging to four main groups of enterprise financial ratios: profitability, liquidity, solvency and asset turnover. SAW, TOPSIS and VIKOR multi-criteria decision making methods, widely applied in construction, economics and management, are selected as mathematical tools for quantitative assessment of the economic crisis effect on Lithuanian industries. By applying multi-criteria decision making methods relative positions (ranks) of industries are determined for every year of the period of 2006–2011. The ranks and their changes are further analysed distinguishing pre-crisis, crisis, and post-crisis periods, determining the industries most and least affected by the economic crisis; also, the industries characterised by the fastest and the slowest after-crisis recovery.

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