Designation and Explanation of Performance Evaluation Model Metals Producers Companies in Iran Stock Exchange with an Approach to Data Envelopment Analysis
Journal Title: International Journal of Academic Research in Accounting, Finance and Management Sciences - Year 2014, Vol 4, Issue 4
Abstract
Monitoring and evaluation are concepts that has long been considered as one of the main tasks of management and economics, thus the performance evaluation of subject is not an issue that is pointed out today. But what is certain is the attitudinal change that has been made in this regard which it is regarded as a means of improving performance. To gain and maintain competitive advantages, companies should seriously evaluate their performance as well as pay attention to their financial and non-financial aspects of performance. The use of new tools as well as a more precise evaluation of the performance is concerned by many organizations and data envelopment analysis (DEA) is one of these tools. Data envelopment analysis as an efficient tool in the evaluation of decision making units’ function similarly has found great applications. This tool uses a series of tangible organizational inputs and outputs to assess organizational performance. Data envelopment analysis is a mathematical technique that assesses the relative efficiency of a group of decision making units. Now the steel and metals industry is considered as an important and strategic industry in the country and comparative advantages in the production of goods, including the rich mines scattered around the major cities, give special importance to the industry as one of the main engines of the country's industrial growth. Steel and metals industry are one of the industrial products which plays an important role in the development and prosperity of the country and allocated the world’s first industrial production among industrial productions. At present there are about 16 companies in the Stock Exchange. Although Iran is the largest steel producer and metals in the Middle East and their production in the country has increased in the past few years, the plants’ efficiency has not been grown for many reasons and using new methods of performance evaluation in this regard and calculating the efficiency of companies and comparing them together is very important. The researcher of this study is to explain the model and performance evaluation of Manufacturers Metals Exchange.
Authors and Affiliations
Alireza Hirad
Keywords
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- EP ID EP116389
- DOI 10.6007/IJARAFMS/v4-i4/1240
- Views 94
- Downloads 0
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