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کاربرد نوع شرط:
- جایگاه : پژوهشی
- مجله: International Journal of Finance and Managerial Accounting
- نوع مقاله: Journal Article
- کلمات کلیدی: DEA two-step,value creativity,profitability,fuzzy multi-phase
- چکیده:
- چکیده انگلیسی: The aim of this study is to provide a new two-stage DEA model with fuzzy multi-objective programming approach for evaluating the performance of companies listed in the Tehran Stock Exchange. In this study, a two-stage DEA model, different from the traditional model, we introduce for performance analysis. In this regard, the stable operation of companies, into two sub-process, have divided, which includes the profitability (first phase) and the value creativity (the second phase), which can be used to identify the status of the company's operations and potential for future growth. Therefore, the profitability, including two entrances (the ratio of total debt, the ratio of total equity) and two outputs (ROA, ROE) and the value creativity (the second stage) includes two outputs (the ratio of book value to market value of B / M, the cost income ratio E / P) consider, that is, the outputs of the first stage are inputs for the second stage. The decision matrix proposed in this study, can clearly define the benchmark that can be emulated by inefficient companies and help managers to develop appropriate strategies needed to enhance their overall efficiency. The results show that due to general inefficiency, ineffectiveness was in one of the two sub-processes. The results show that the multi-phase two-stage DEA model is able to identify the causes of inefficiencies and provides a scale to compare performance.
- انتشار مقاله: 29-05-1397
- نویسندگان: Mohammad Reza Ravanshad,Ali Amiri,Hojjat Salari
- مشاهده
- جایگاه : پژوهشی
- مجله: Advances in Mathematical Finance and Application
- نوع مقاله: Journal Article
- کلمات کلیدی: DEA two-step,fuzzy multi-objective,value creativity,profitability,managerial ability
- چکیده:
- چکیده انگلیسی: The aim of this study is to investigate the relationship between managerial ability and firm performance. First, we introduce a new two-stage DEA model with a fuzzy multi-objective programming approach for evaluating the performance of companies listed on the Tehran Stock Exchange. In this regard, the stable operation of companies, into two sub-process, have divided, which includes the profitability (first phase) and the value, creativity (the second phase), that is, the outputs of the first stage are inputs for the second stage, which can be used to identify the status of the company's operations and potential for future growth. Second, In order to measure the ability of managers, we use the model provided by Demerging. Finally, the relationship between managerial ability and firm performance are also investigated by means of the truncated-regression model. The results show that there is a positive relationship between the ability of management and firm performance. It means that managerial ability to be significantly related to the performance of the company. In this sense, the performance of the company improves by increasing managerial ability to better use resources and consequently increase overall efficiency.
- انتشار مقاله: 09-10-1397
- نویسندگان: Mohammad Reza Ravanshad,Ali Amiri,Hojjatallah Salari,Davood Khodadadi
- مشاهده