Investigating the efficiency of companies admitted to the Tehran Stock Exchange (by StoNED model)
Subject Areas : Industrial ManagementGhasem Moazeni 1 , Mohammad Mehdi Khoshuei 2 * , Dariush Forughi 3
1 - PhD Candidate of Accounting of Isfahan branch of Islamic Azad University (Khorasgan)
2 - Assistant Professor of Accounting of Isfahan branch of Islamic Azad University (Khorasgan)
3 - Associate Professor of Accounting of Isfahan branch of Islamic Azad University (Khorasgan)
Keywords: efficiency, data envelopment analysis, Stock Exchange companies, StoNED,
Abstract :
The efficiency of the active companies in the Tehran Stock Exchange was investigated in this research. Using information from 487 different companies in 24 industrial groups over the period from 2012 to 2021, their efficiency was calculated. The efficiency of each industry was estimated by a Non-parametric Stochastic method, with three variables - the ratio of total debt to current assets, the ratio of total debt to non-current assets, and the ratio of total debt to total equity - considered as inputs, and the ratio variable of operating profit to total assets as output. Based on the results, certain industries were found to have a better situation in using their resources compared to others. Specifically, banking industries, paper products, tiles and ceramics, and auxiliary activities had an average efficiency of 90%, 89%, 86%, and 82%, respectively. The results suggest guiding companies towards optimal use of resources. Key Words: efficiency, data envelopment analysis, Stock Exchange companies, StoNED.
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