Document Type : Research Paper

Authors

• Loghman Hatami-Shirkouhi ¹
• Amir Nazari-Shirkouhi ²
• Homa Samadi ³
• Mehran Nemati ⁴

¹ Academic member of Islamic Azad university, Branch of Roudbar

² Student of industrial engineering Islamic Azad University, branch of Qazvin

³ MA student, Islamic Azad university, branch of South-Tehran

⁴ cademic member of Islamic Azad University

Abstract

Stock exchange is an organized and major institution in the stock market. Evaluating the performance of companies in stock exchange and selecting type of trade entity are important subjects for finance mangers and investors; because by a comprehensive assessment, investment risk could be decreased to an acceptable level. This paper aims to evaluate and rank joint stock companies by data envelopment analysis in the uncertain environment. 50 companies listed by stock exchange organization under title “50 more active companies of Tehran stock exchange-first quarter of 2010” are studied by 10 effective measures on performance evaluation. Results show that fuzzy data envelopment analysis method is an appropriate approach for modeling of fluctuations and uncertainties in different fiscal years’ data and assessment of performance of companies in uncertain states of measures.

Keywords

• ranking indices
• data envelopment analysis
• performance assessment
• Stock exchange
• fuzzy logic