Performance evaluation with grey relational analysis, two-stage data envelopment analysis, and G-SAW methods: Case study in electricity distribution companies in Iran
Subject Areas : International Journal of Data Envelopment Analysis
1 - کارشناسی ارشد حسابداری مدیریت، دانشگاه رجاء، قزوین، ایران
Keywords: Grey Relational Analysis, Two-stage Data Envelopment Analysis, Electricity Distribution Companies,
Abstract :
Various approaches are used to evaluate the firms’ performance. Grey Relational Analysis is one of the multiple-attribute decision-making methods, and Data Envelopment Analysis is used to calculate efficiency. Given the important role of electricity distribution companies in economic development, this study evaluates the performance of 35 electricity distribution companies in Iran using three methodologies: Grey Relational Analysis (GRA), the integrated Grey-Simple Additive Weighting (G-SAW) method, and Data Envelopment Analysis (DEA) with a two-stage model incorporating desirable and undesirable outputs. This research aims to identify the most effective approach for performance evaluation in the electricity sector. To achieve this, the GRA and G-SAW methods were applied to assess companies based on multiple criteria, including cost, productivity, and waste. DEA measured efficiency in two stages, considering both desirable and undesirable outputs. Results indicate that GRA and DEA offer more optimistic evaluations than G-SAW. GRA scores ranged from 0.486 to 0.764, G-SAW scores from 0.428 to 0.648, and DEA scores from 0.288 to 0.957. Sistan et Baluchestan and Qom distribution units demonstrated high efficiency, while Shiraz ranked the lowest in GRA and DEA and the third lowest in G-SAW method.
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