Evaluating and Ranking the Firms in Chemical Industry Listed in Tehran Stock Exchange with TOPSIS

Subject Areas : Financial Mathematics

Ali Asghar Anvary Rostami ¹ , Maryam Saberi ² , Mohsen Hamidian ³ , Mahdihe Esfandiyar Pour ⁴

1 - aFaculty of Management & Economics, University of Tarbiat Modares, Tehran, Iran
2 - Faculty of Economics & Accounting, University of Islamic Azad south Tehran, Tehran, Iran
3 - Department of Management, University of Alzahra, Tehran, Iran
4 - Faculty of Economics & Accounting, University of Islamic Azad south Tehran, Tehran, Iran

Received: 2017-06-10 Accepted : 2017-06-10 Published : 2017-06-01

Keywords:

References:

[1]  Chung, R., Firth, M., Kim, J.B., Earnings Management, Surplus Free Cash Flow, and External Monitoring, Journal of Business Research, 2005, 58, P.766 –776.

[2]  Cooper, S., Davis M.,  Maximizing Shareholder Value, CIMA, 2004.

[3]  Dechow, P.M., Sloan, R., Sweeny, A., Detecting EarningsManagement, The Accounting Review, 1995, 70(2), P.193-225.

[4]  Healy, P.M., Wahlen, J.M., A Review of the Earnings Management Literature and its Implication for Standards Setting, Journal of Accounting Horizons , 1999, 13(4), P.365-373.

[5]  Jaggi, B., Gul, A., Evidence of Accrual Management: A Test of the Free cash flows and debt Monitoring Hypothesis , Working  Paper , www.ssrn.com., 2000.

[6]  Jensen , M.C., Agency costs of free cash flow , corporate finance and takeovers, American economic review, 1986,76(2), P.323-329.

[7] Jones, S., Rohit, Sh., The Impact of Free Cash Flow, Financial Leverage  and Accounting Regulation on Earnings Management in Australia’s ‘Old’ and ‘New’ Economies, Managerial Finance, 2001, 27(12), P.18-39.

[8]  Lehn, K., Annete, P., Free Cash Flow and Stock Holder Gains in Gohng Private Transactions, The Journal of Finance, 1986, 44 (3), P.771-787. 

[9]  Rappaport, A., Creating Shareholder Value:A Guide for Managers and Investors Revised and Updated, New York, The Free Press, 1998.

[10] Hwang, C.L., Yoon, K., Multiple Attribute Decision Making: Methods and Applications, New York: Springer-Verlag, 1981.

[11] Matsumoto, K., Shivaswamy, M., Hoban J., James P., Security Analysts' Views of the Financial Ratios of Manufacturers and Retailers, Financial Practice and Education, 1995.

[12] Horrigan, J.O., Some empirical bases of financial ratio analysis, The Accounting Review, 1965, 40(3), P.558-568.

[13] Altman, E. I., Financial ratios, discriminant analysis and the prediction of corporate bankruptcy, The Journal of Finance, 1968, 23(4), P.589-609.

[14] Abramovitz, M., Resource and output trends in the United States since 1870, Resource and output trends in the United States since 1870, 1956, 36, P.1-23.

[15] Solow, R.M., Technical change and the aggregate production function, The review of Economics and Statistics,1957, 22, P.312-320.

[16] Klette, T. J., Griliches Z., The inconsistency of common scale estimators when output prices are unobserved and endogenous, Journal of Applied Econometrics, 1996, 37, P.343-361.