Evaluation and Ranking of the Performance of Pharmaceutical Companies Listed on the Tehran Stock Exchange Using Competition Indicators in the Product Market with the Using of CRITIC and WASPAS Methods
Subject Areas : Health financial managementPaya,m Shojaei 1 , Navid Reza Namazi 2 * , Nima Khademi 3 , Fatemeh Abedi 4
1 - Associate Professor, Department of Business Administration, Shiraz University, Fars, Iran
2 - Assistant Professor, Department of Accounting, Shiraz University, Fars, Iran
3 - Master of Business Administration Student, Shiraz University, Fars, Iran
4 - Master of Business Administration Student, Shiraz University, Fars, Iran
Keywords: Pharmaceutical Companies, Competition in the Product Market, Stock Exchange, CRITIC Method, WASPAS Method.,
Abstract :
Introduction: In today's competitive environment, evaluating the performance of industries such as the pharmaceutical industry, which, in addition to the economic aspect, has direct effects on the living conditions and health of people in society, has a double importance. As a result, the main goal of the current research is to evaluate and rank the pharmaceutical companies listed on the Tehran Stock Exchange.
Methods: For this purpose, a sample of 25 pharmaceutical companies were investigated between 2010 and 2019. By reviewing the subject literature, 8 indicators of competition in the product market were extracted. Then, the necessary data was collected using the Rahvard Novin software and analyzed with the help of Excel software based on the CRITIC and WASPAS methods. CRITIC method was used in order to prioritize and calculate indicators and WASPAS technique was used in order to rank sample companies.
Results: The Results of the research showed that among the indices of competition in the product market, the Herfindahl-Hirschman index and Tobin's Q index have the highest weight and the adjusted Lerner index has the lowest weight. In addition, in the general ranking of pharmaceutical companies, Sina Daru has the best performance. After that, Razak Daru Company was ranked second, and Pars Daru and Faravarde Tazrighi Company were jointly ranked third. Also, Kausar Pharmaceuticals and Hijrat Broadcasting Companies were placed in the lower ranks of the performance ranking list, respectively.
Conclusion: According to the Results of this research, top companies can be better options for beneficiaries.
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