Work

An Empirical Study of Hybrid DEA and Grey System Theory on Analyzing Performance: A Case from Indian Mining Industry

Year: 2015

Type: article

Abstract: India, which has long been recognized as a well-endowed nation in natural mineral resources, is a major minerals producer. According to the report of Indian Ministry of Mines 2013, Indian mining and metals sector ranked the fourth among the mineral producer countries, behind China, United States, and Russia and had in fact led the economy into recovery from the global financial crisis. Since this industry has turned into a significant issue, this paper attempts to rank the performance of 23 Indian mining and metal companies and to evaluate and measure the productivity change of these sectors during different time periods (2010–2014). Besides, the authors would like to choose one advanced model of MPI to see the performance of these companies in the past-present period and the 4-year future period (2015–2018) by using forecasting results of Grey system theory. The results revealed that from the past to future period the National Mineral Development Corporation, Hindalco Industries Limited, and Coal India always keep their highest best rankings among 23 DMUs regarding performance scores. This study contributes better insights of Indian mining industry as it is the core of the economy.

Source: Journal of Applied Mathematics

DOI: 10.1155/2015/395360

Authors: Lai-Wang Wang, Thanh-Tuyen Tran, Nhu-Ty Nguyen

Institutions: National Kaohsiung University of Applied Sciences, Lac Hong University

Language: English

Topic: Efficiency Analysis Using DEA

Subfield: Management Science and Operations Research

Field: Decision Sciences

Domain: Social Sciences

SDG: Industry, innovation and infrastructure

Open Access status: gold

Estimated APC paid: $1,130