Performance Analysis and Sustainability Assessment of International Markets: Iran versus some other countries

محورهای موضوعی : Financial Mathematics

Adeleh Eisazadeh Saravani ¹ , Kambiz Shahroudi ² , Alireza Amirteimoori ³ , Mehrdad Goudarzvand Chegini ⁴

1 - Department of Management, Rasht Branch, Islamic Azad University, Rasht, Iran
2 - Department of Management, Rasht Branch, Islamic Azad University, Rasht, Iran
3 - Department of Applied Mathematics, Rasht Branch, Islamic Azad University, Rasht, Iran
4 - Department of Management, Rasht Branch, Islamic Azad University, Rasht, Iran

تاریخ دریافت : 1400/05/30 تاریخ پذیرش : 1401/01/15 تاریخ انتشار : 1402/04/10

کلید واژه: Performance of Iran, Performance in international markets, Economic and non-economic indicators Performance sustainability,

چکیده مقاله :

Evaluating the performance of countries in international markets and measuring how they utilize allocated resources provides a lucid picture of the state of business management in countries also assessing performance sustainability in international markets, is one of the important issues in predicting international trade. In international markets knowledge of countries' performance leads to the recognition of their economic and non-economic management statuses even more it is used to allocate financial support of global organization. In the present article, an attempt was made to design a model capable of examining the performance of nations in international markets by both economic and non-economic dimensions in the presence of undesirable factors and two preparation and exploitation stages of existing platforms and also assessing the sustainability of countries' performance in the studied period which is quite innovative. Then, data from 21 countries, from 2010 to 2017 were evaluated to test the model. The results indicated that the model is capable of examining the performance of countries and assess the sustainability of the countries over a period of time. According to the results of this model, an attempt was made to evaluate Iran's performance status among homogeneous countries and provide a roadmap for enhancing Iran's performance

منابع و مأخذ:

[1] Abdalkrim, G. M., The impact of strategic planning activities on private sector organizations performance in Sudan: An empirical research, International Journal of Business and Management, 2013, 8(10), 134.  

Doi: 10.5539/ijbm.v8n10p134

[2] Akbari, S., Heydari, J., Keramati, M., Keramati, A., Designing a mixed system of network DEA for evaluating the efficiency of branches of commercial banks in Iran, Advances in Mathematical Finance and Applications, 2019, 4(1), P.1-13. Doi:10.22034/amfa.2019.582260.1165

[3] Alfaro-Garcia, V. G., Gil-Lafuente, A. M., Calderón, G. G. A., A fuzzy methodology for innovation management measurement, Kybernetes, 2017.  Doi: 10.1108/K-06-2016-0153

[4] Amirteimoori H, Amirteimoori A, Amirteimoori A., Sustainability assessment in the presence of undesirable factors over time: A case on gas companies, Expert Systems. 2018; e12316. Doi:10.1111/exsy.12316

[5] Bani-Hani, J. S., AL-Hawary, F., The impact of core competencies on competitive advantage: Strategic challenge, International bulletin of business administration, 2009, 6(6), P. 93-104. Doi:10.5539/ijbm. v7n1p192

[6] Choudhary, A. I., Akhtar, S. A., Zaheer, A., Impact of transformational and servant leadership on organizational performance: A comparative analysis, Journal of business ethics, 2013, 116(2), P.433-440.

Doi: 10.1007/s10551-012-1470-8

[7] Cracolici, M. F., Cuffaro, M., Nijkamp, P., The measurement of economic, social and environmental performance of countries: A novel approach. Social indicators research, 2010, 95(2), P.339. ‏

Doi: 10.1007/s11205-009-9464-3

[8] Färe, R., Grosskopf, S., Nonparametric productivity analysis with undesirable outputs: Comment, American Journal of Agricultural Economics, 2003, 85(4), P.1070–1074. Doi:10.1111/1467-8276.00510

[9] Farhadi Kia, A., Azvaji, A., Jahangard, E., Amini, A., Investigation and analysis of factors affecting the total productivity of road transport production factors in Iran, Journal of econometric modelling, 2014, 1(1), P. 97-134. Dio: 10, 22075/JEM.2017.1499

[10] Giles, D. E. A., Feng, H., Output and well-being industrialized nations in the second half of the 20th century: Testing for convergence using fuzzy clustering analysis, Structural Change and Economic Dynamics, 2005, 16, P.285–308. Doi: 10.1016/j.strueco.2004.08.001.

[11] Giokas, D. I., Pentzaropoulos, G. C, Efficiency ranking of the OECD member states in the area of telecommunications: A composite AHP/DEA study, Telecommunications Policy, 2008, 32(9-10), P.672-685.

Doi: 10.1016/j.telpol.2008.07.007

[12] Hobijn, B., Franses, P. H., Ooms, M., Generalizations of the KPSS‐test for stationarity, Statistica Neerlandica, 2004, 58(4), P.483-502. Doi: 10.1016/S0954-349X(00)00034-5.

[13] Holzapfel, S., The role of indicators in development cooperation, an overview study with a special focus on the use of key and standard indicators, Studies, 2014, 81, ISBN 978-3-88985-588-6, Deutsches Institut für Entwicklungspolitik (DIE), Bonn.

[14] Huang, Y., Xie, E., Wu, Z. Portfolio characteristics of outward foreign direct investment and dynamic performance of emerging economy firms: An option portfolio perspective. International Business Review, 2021, 30(4), 101750. Doi: 10.1016/j.ibusrev.2020.101750

[15] Hutabarat, T. E. H., Sinaga, P., Purba, J. T., Widjaja, A. W., The Failure of Investment Strategy to Earn Outperform Investment Return on Equity Mutual Funds in ASEAN Market (A Study to Improve Performance Evaluation Model and to Enhance Implementation of Investment Strategy), Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences, 2022, 5(1), P.2487-2497.

Doi: 10.33258/birci.v5i1.3855

[16] Ivanová, E., Masárová, J., Performance evaluation of the Visegrad Group countries, Economic research-Ekonomska istraživanja, 2018, 31(1), P.270-289. Doi:10.1080/1331677X.2018.1429944.

[17] Izadikhah, M., DEA Approaches for Financial Evaluation - A Literature Review, Advances in Mathematical Finance and Applications, 2022, 7(1), P.1-36. Doi: 10.22034/amfa.2021.1942092.1639

[18] Izadikhah, M., and Farzipoor Saen, R., Solving voting system by data envelopment analysis for assessingsustainability of suppliers, Gr. Decis. Negot. 2019, 28(3), P. 641–669, Doi: 10.1007/s10726-019-09616-7.

[19] Izadikhah, M., Farzipoor Saen, R., Ranking sustainable suppliers by context-dependent data envelopment analysis, Ann Oper Res, 2020, 293, P. 607–637, Doi: 10.1007/s10479-019-03370-4

[20] J. Ma, L. Qi, and L. Deng, Additive centralized and Stackelberg DEA models for two-stage system with shared resources, International Transactions in Operational Research, 2020, 27(4), P. 2211–2229, Doi:10.1111/itor.12504

[21] Jablonsky, J., Efficiency analysis in multi‐period systems: An application to performance evaluation in Czech higher education, Central European Journal of Operations Research, 2016, 24(2), P.283–296. Doi: 10.1007/s10100-015-0401-z.

[22] Jia, J., Huang, Z., Deng, J., Hu, F., Li, L., Government Performance Evaluation in the Context of Carbon Neutrality: Energy-Saving of New Residential Building Projects, Sustainability 2022, 14, 1274.

Doi:10.3390/su14031274

[23] Juddoo, Kumari and Malki, Issam and Mathew, Sudha and Sivaprasad, Sheeja, an Impact Investment Strategy (April 22, 2021). Doi: 10.2139/ssrn.3838908

[24] Kao, C., Network data envelopment analysis: A review, Eur. J. Oper. Res., 2014, 239 (1), P. 1–16.

Doi: 10.1016/j.ejor.2014.02.039.

[25] Kuosmanen, T, Weak disposability in nonparametric production analysis with undesirable outputs, 2005, American Journal of Agricultural Economics, 87(4), P.1077–1082. Doi:10.1111/j.1467-8276.2005.00788.x

[26] Liang, Liang, Feng Yang, Wade D. Cook, and Joe Zhu. DEA models for supply chain efficiency evaluation, Annals of Operations Research, 2006, 145, 14. Doi:10.1007/s10479-006-0026-7 (2006).

[27] Lee, H.-S., Efficiency decomposition of the network DEA in variable returns to scale: An additive dissection in losses, Omega, 2020, 100. Doi: 10.1016/j.omega.2020.102212

[28] Lewis, H. F., and Sexton, T. R., Network DEA: efficiency analysis of organizations with complex internal structure, Comput. Oper. Res., 2004, 31(9), P. 1365–1410. Doi: 10.1016/S0305-0548(03)00095-9

[29] Lovell, C. K., Pastor, J. T., Turner, J. A., Measuring macroeconomic performance in the OECD: A comparison of European and non-European countries, European journal of operational research, 1995, 87(3), P.507-518. Doi:10.1016/0377-2217(95)00226-X.

 

[30] Marchante, A. J., Ortega, B., Quality of life and economic convergence across Spanish regions, 1980–2001. Regional Studies, 2006, 40(5), P.471-483. Doi:10.1080/00343400600757460.

[31] Martín‐Gamboa, M., Iribarren, D., García‐Gusano, D., Dufour, J., A review of life‐cycle approaches coupled with data envelopment analysis within multi‐criteria decision analysis for sustainability assessment of energy systems, Journal of Cleaner Production, 2017, 150, P.164–174. Doi: 10.1016/j.jclepro.2017.03.017

[32] McGillivary, M., Measuring non-economic well-being achievement, Review of Income and Wealth, 2005, 51, P.337–364. Doi:10.1111/j.1475-4991.2005.00157.x.

[33] Mirhedayatian, S. M., Azadi, M., and Farzipoor Saen, R., A novel network data envelopment analysis model for evaluating green supply chain management, Int. J. Prod. Econ., 2014, 147(B), P. 544–554.

Doi: 10.1016/j.ijpe.2013.02.009.

 

[34] Moghaddas, Z., Tosarkani, B.M., Yousefi, S., A Developed Data Envelopment Analysis Model for Efficient Sustainable Supply Chain Network Design. Sustainability, 2022, 14, P.262. Doi: 10.3390/su14010262

 

[35] Neumayer, E., Beyond income: Convergence in living standards, big time, Structural Change and Economic Dynamics, 2003, 14, P.275–296. Doi:10.1016/S0954-349X(02)00047-4.

[36] Niknafs, J., Keramati, M.A., and Haghighatmonfared, J., Estimating Efficiency of Bank Branches by Dynamic Network Data Envelopment Analysis and Artificial Neural Network, Advances in Mathematical Finance and Applications, 2020, 5(3), P.377-390. Doi: 10.22034/amfa.2019.1585957.1192

[37] Ramanathan, R., Evaluating the comparative performance of countries of the Middle-East and North Africa: A DEA application, Socio-Economic Planning Sciences, 2006, 40, P. 156–167. Doi: 10.1016/j.seps.2004.10.002

[38] Rezaei, S., Iran's plan to regain its place in the regional economy, Iran newspaper, May 6, 2016, code 82049837.

[39] Rotberg, R.I., On Governance: What It Is, What It Measures and Its Policy Uses, Centre for International Governance Innovation: Waterloo, ON, Canada, 2015, P. 192. Copyright Date: 2015, Published by: McGill-Queen's University Press, CIGI Press.

 

[40] Samargandi, N., A. Alghfais, M., AlHuthail, H. M., Factors in Saudi FDI Inflow, SAGE Open, 2022, 12(1). Doi:10.1177/21582440211067242

[41] Shephard, R. W., Theory of cost and production functions. Princeton: Princeton University Press, 1970. Pp. xi, 308. $15.00, The Journal of Economic History, 31(3), P.721-723. Doi:10.1017/S002205070007457X

[42] Taherinezhad, A., Alinezhad, A., Nations performance evaluation during SARS-CoV-2 outbreak handling via data envelopment analysis and machine learning methods, International Journal of Systems Science: Operations & Logistics, 2022, Doi: 10.1080/23302674.2021.2022243

[43] Tajbakhsh, A., Hassini, E., A data envelopment analysis approach to evaluate sustainability in supply chain networks, Journal of Cleaner Production, 2015, 105, P.74–85. Doi: 10.1016/j.jclepro.2014.07.054

[44] Tsapko-Piddubna, O., Inclusive Growth Policy and Institutional Assessment: the case of Central and Eastern European Countries. Baltic Journal of Economic Studies, 2021, 7(2), P.233-239.

Doi:10.30525/2256-0742/2021-7-2-233-239

[45] Van der Hart, J., Slatger, E., van Dijk, D., Stock Selection Strategies in Emerging Markets, Journal of Empirical Finance, 2003, 10(1-2), 205-132. Doi:10.1016/S0927-5398(02)00022-1

[46] Vojtovič, S., Krajňáková, E., Development of new Economy and human capital, Vadyba Journal of Management, 2014, 25(2), P.145-150.

[47] Chen, W., Li, X. X., and Yang, G. L., a comparative study of technology transfer efficiency between Chinese and foreign Universities: based on DEA-Malmquist method, Science of Science and Technology Management, 2014, 7, P. 98–106,

[48] World Bank, making trade work better for the poor, Published on Voices, MAY 19, 2021

[49] Wu, P.C., Huang, TH., Pan, SC., Soc Indic Res, Country Performance Evaluation: The DEA Model Approach, Social Indicators Research, September 2014, 118(2), P. 835–849. Doi:10.1007/s11205-013-0443-3

[50] Zanella, A., Camanho, A., Dias, T., Countries environmental performance assessment, In Livro de Actas do 15º Congresso da APDIO-IO2011 2011, https://www.academia.edu/download/5866533/04-id20-p7.pdf

[51] Zhao, H. H., Liu, Y., Li, J., Guo, X. G., Gui, H. J., Chinese Provincial Difference in the Efficiency of Universities’ Scientific and Technological Activities Based on DEA with Shared Input, Mathematical Problems in Engineering, 2022.  Doi:10.1155/2022/8319498

[52] Zhou, H., Yang, Y., Chen, Y., Zhu, J., Data envelopment analysis application in sustainability: The origins, development and future directions, European Journal of Operational Research, 2018, 264(1), P.1–16. Doi:10.1016/j.ejor.2017.06.023

[53] Zanjirdar, M., Overview of Portfolio Optimization Models. Advances in Mathematical Finance and Applications, 2020, 5(4), P.419-435. Doi: 10.22034/amfa.2020.674941.

[54] Zanjirdar, M., Kasbi, P., Madahi, Z., Investigating the effect of adjusted DuPont ratio and its components
on investor & quot; s decisions in short and long term, Management Science Letters, 2014, 4(3), P.591-596.
Doi: 10.5267/j.msl.2014.1.003