Two comparative MCDM approaches for evaluating the financial performance of Iranian basic metals companies

Document Type: Research Paper

Authors

1 Farabi Campus University of Tehran

2 Faculty of Management, University of Tehran

3 Faculty of Management & Economy, University of Qom

Abstract

Due to the increasing competition and the continuous changes in current business environments, appropriate evaluation of the companies' performance is a useful tool not only for themselves but also for their own investors and creditors. In this paper, a model is presented for evaluating the basic metals producing companies. The proposed model based on analyzing the financial ratios is a combination of the FAHP (fuzzy analytical hierarchy process) and the VIKOR. The FAHP is used for determining the weights of the financial ratios and the VIKOR is applied for ranking the companies. To clarify the effectiveness and the accuracy of the developed method, the obtained result from the VIKOR is compared with the results of the TOPSIS technique. It can be seen from the results that the VIKOR based ranking is relatively similar to the result by the TOPSIS. In this research, the proposed method is utilized for evaluation of the performance of eight Iranian basic metals companies exist in Tehran stock exchange list.

Keywords


Article Title [Persian]

ارزیابی عملکرد مالی شرکت های فلزات اساسی ایرانی با کاربرد تکنیک های تصمیم گیری چندمعیاره فازی

Authors [Persian]

  • مجتبی فرخ 1
  • حسین حیدری 2
  • حمید جانانی 3
1 پردیس فارابی دانشگاه تهران
2 گروه مدیریت مالی، دانشکده مدیریت، دانشگاه تهران
3 گروه حسابداری، دانشکده مدیریت، دانشگاه قم
Abstract [Persian]

به دلیل رقابت فزاینده و تغییرات مستمر در محیط های کسب و کار کنونی، ارزیابی مناسب عملکرد شرکت ها برای آنها و همچنین تامین کنندگان و اعتباردهندگان ابزار کاربردی و مفیدی است. در پژوهش حاضر، برای ارزیابی شرکت های تولیدکننده فلزات اساسی یک چارچوب جدید توسعه داده می شود. مدل فازی پیشنهادی ترکیبی از AHP فازی و VIKOR بوده که مبتنی بر تحلیل نسبت های مالی است. تکنیک AHP فازی برای تعیین وزن نسبت های مالی و VIKOR برای رتبه بندی شرکت ها مورد استفاده قرار می گیرد. برای مشخص کردن دقت مدل پیشنهادی، نتایجی بدست آمده از VIKOR با نتایج TOPSIS مقایسه می شود. با مقایسه نتایج این دو روش، می توان مشاهده کرد که رتبه بندی بدست آمده با روش اول مشابه روش دوم است. در این تحقیق، روش پیشنهادی برای ارزیابی عملکرد شرکت های فلزات اساسی که از لیست بورس اوراق بهادار تهران انتخاب شده اند، مورد استفاده قرار می گیرد.

Keywords [Persian]

  • نسبت های مالی
  • فرایند تحلیل سلسله مراتبی فازی
  • Vikor
  • TOPSIS
  • شرکت های فلزات اساسی
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