The Ranking of Financial Efficiency of Companies Accepted in Stock Exchange of Tehran between 2013 to 2016 through Financial Ratio Approach and Using DEA
Subject Areas : International Journal of Data Envelopment AnalysisAbbas Sheikh Abomasoudi 1 , Seyyed AmirHossin Mirghaderi 2
1 - Department of Industrial Engineering, Najafabad Branch, Islamic Azad University, Najafabad, Iran
2 - Department of Industrial Engineering, Najafabad Branch, Islamic Azad University, Najafabad, Iran
Keywords: Data Envelopment Analysis, Financial Ratio, Financial efficiency, stock exchange,
Abstract :
Financial ratios provide an illustration of the financial situation, the company's returns, and the future opportunities of business units. Considering that in traditional methods, the effect of financial ratios on efficiency has been investigated so far, it did not look right; therefore, we sought a method that It can be used to see the effect of financial ratios. In the process of data envelopment analysis, financial ratios are aggregated and we can see the effect of them together; therefore, the efficiency gained from this approach is reliable. In this research, the data envelopment analysis model was used as input-based BCC type, and the relative efficiency of 470 companies accepted in the Tehran Stock Exchange between 1392-1395 Which is classified into nine non-homogeneous groups, was calculated, then the companies were ranked based on efficiency; efficient and inefficient companies were identified,It was determined that based on the average industry obtained for the future financial status of the companies, analysis and forecasting took place, among which the construction materials group with the average industry was 0.89 at the highest and the investment group with the average industry was 0.67 at the lowest.
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