Assessment of Efficiency and Ranking Chemical Industries Companies in Stock Exchange of Tehran by Using VAHP Model
Journal Title: International Research Journal of Applied and Basic Sciences - Year 2013, Vol 5, Issue 12
Abstract
Investments and manpower limits have caused managers to seek for methods of optimal use of these sources. Data Envelopment Analysis (DEA) models classify decision-making units into efficient and inefficient units. Yet, in most cases managers and investors are interested in ranking efficient units and choosing the best decision-making unit (DMU). One of the problems of applying different ranking models is to provide different results when compared. Since such ranking is mostly the basis of policy-making of organizations and investors, it should have the potential to be relied on. This research aims at combining Data Envelopment Analysis (DEA) and Voting Analytic Hierarchy Process (VAHP) methods for ranking efficient units. To this end, 17 chemical industry corporations were chosen at Stock Exchange of Tehran in 2009 and 2010 as decision-making units. At first, efficiency of these companies was measured by taking 5 financial ratios into account (3 inputs and 2 outputs). By identifying efficient units, 10 ranking models were operated. Then, the final score of efficient units was obtained by combining the results of different ranking models.
Authors and Affiliations
Ali Asghar Lotfi| Assistant Professor at Islamic Azad University, Eslam-shahr Branch, Iran, email: Lotfi@iiau.ac.ir, Masoumeh Khan-mohammadi| Assistant Professor at Islamic Azad University, Eslam-shahr Branch, Iran, Katayoun Ghazanfari| MS degree in accounting.
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