Investigating the relationship between total quality management and financial performance of banks, insurance companies, and active investment companies in Iran.

Subject Areas : Management Accounting

Ahmad Ahmadpour ¹ , Amir Soodbakhsh ²

1 - استاد گروه حسابداری دانشگاه مازندران
2 - دانش آموخته رشته حسابداری در مقطع کارشناسی ارشد، دانشگاه مازندران

Received: 2015-05-10 Accepted : 2015-08-06 Published : 2015-10-02

Keywords: Total Quality Management, Financial Performance, banks, Insurance and Investment Compa,

Abstract :

The purpose of this research is investigating the relationship between total quality management and financial performance of banks, insurance companies, and active investment companies in Iran. The studied population is banks, insurance companies and investment companies, and due to the limitation of access to the information of all of them and the necessity of obtaining accurate data, 10 banks, 5 insurance companies and 16 investment companies which were accepted in Tehran Stock Exchange, were selected as samples. In order to investigate and test the research hypothesis, SPSS and Amos software, Kolmogorov-Smirnov test, structural equations modeling, Pearson correlation and multiple regression analysis were used. The results of this study showed that there is a significant and positive relationship between the seven dimensions of total quality management (including leadership, continuous improvement, internal and external partnerships, focus on customer, process management, staff achievements and learning) and financial performance, and thus, between total quality management and financial performance of banks and insurance companies and investment companies.