TOPSIS-DEA hybrid technique for present a new approach to provide periodic evaluation in Tehran Stock Exchange Corporation

Subject Areas : Management Accounting

Abbas  Toloie Eshlaghy ¹ (نویسنده مسئول و طرف مکاتبه)
F.  Rahnamay Roodposhti ² (ندارد)
Kaveh  Abdolvand ³ (ندارد)

Received: 2010-04-04 Accepted : 2010-06-17 Published : 2010-03-21

Keywords: TOPSIS, DEA, Periodic assessment, dynamic assessment,

Abstract :

Potential investors and users of financial non-financial information try todetermine success and non- success companies to take better investment decisions.Because evaluations are time dependent, and have multidimensional and dynamicnature, therefore regular assessment cannot shows various aspects of performanceduring the time.In this article multiperiodic MADM used for assessment as DEA input variables.This information (including weights and values of criteria) is provided in differentperiods, so criteria weights and their values for each alternative will be dynamic.In trends as well as last events are most important, naturally have more weights.So decision based on independent methods, aren’t correct and suitable. Consideringseveral periods for alternatives performance measurement not only is necessary butalso is vital. Previous researchers have little attention to these issues, so at theprevious models often only one table related to the decision last term was used.This paper has been merged results matrices from past periods, the performanceanalysis done by combination of DEA and TOPSIS. Therefore an ideal virtualdecision making unit added to the model. Two virtual decision-making units (IDMUand ADMU) for configuring the structuring two DEA models to calculate the best andworst relative performance are used. These two distinct performances are integratedusing TOPSIS, for creating combination criterion called relative closeness (RC) to theIDMU. RC index is used as a measure of the overall assessment of each DMU, tooverall ranking for all of DMU