Identification of criteria effective in financial performance (fp) of iranian petrochemical companies
Keywords:
Effective criteria, FP evaluation, Iran Petrochemical Industries, Fuzzy Technique
Abstract
This study was conducted to identify the factors effective in FP of the petrochemical companies in the stock market. The study was descriptive and causal-comparative conducted using fuzzy technique. The sample size was nine experts in the petrochemical industry with full command over the preparation of financial statements and offering reports on the preparation of the minutes of financial statements and financial ratios. They also had a high ability in analysis of financial statements to gain more profit or to reduce the related costs. The result of the interview with these experts was the identification of the six main indices: investment with a weighted average of 0.372 ranked first, and operational costs of the company with a weighted average of 0.185 ranked the second, operational costs on equity with a weighted average of 0.121 ranked third, ROA with a weighted average of 0.111 ranked fourth, ROE with a weighted average of 0.108 ranked fifth rank, P/E with a weighted average of 0.103 ranked sixth.
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References
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Yalcin , N., Bayrakderaglu, A. , Kahraman , C.,(2012) .Appliation of fuzzy multi-criteria decision making methods for FP evaluation of Turkish manufacturing industries .Expert Systems with Applications , 39, 350-364.
Yook , K.,& C. , McCabe , G.,M.,(2001). MVA and The cross-section of expected stock returns. The Journal of portfolio management, 27(3) , 75-87 .
Bahador M., Keshtkar, M. M., (2017). Reviewing and modeling the optimal output velocity of slot linear diffusers to reduce air contamination in the surgical site of operating rooms, INTERNATIONAL JOURNAL OF COMPUTER SCIENCE AND NETWORK SECURITY, 17 (8), 82-89.
Brunner, J.J & Ganga-Contreras, F. (2017). Vulnerabilidad educacional en América Latina: Una aproximación desde la sociología de la educación con foco en la educación temprana Opción, Año 33, No. 84 (2017): 12-37.
Cheng , c. , H. , Chen , C. T. , Huang , S., F., (2012) . combining fuzzy integral with order weightaverage (OWA) method for evaluating FP in the semiconductor industry African Journal of Business Management, 6(21) , 6358-6368.
Ehrbar , A .(1999) , Using EVA registered trademark to measure performance and assess strategy Stretegy and Leadership, 27(3) (1999), p.20-24 .
Esfahani, M., Emami, M & Tajnesaei, H. (2013). The investigation of the relation between jobinvolvement and organizational commitment. Management Science Letters, 3(2), 511-518.
Godratian Kashan, A.J., Anvari Rostami, A.A. (2004), Designing a Comprehensive Model for Performance Evaluation and Ranking of Companies. Quarterly Journal of Humanities, Specialty Management, Spring. P. 113.
Healy, R. K, (1988) “How will does performance evaluation perform”, Journal of portfolio management , pp . 15-19.
Homayoun, H., Rezaeed Fard, A., Mohammadi, A.R., Younesi, M., Magbareh Moghadam, M. (2016), Ranking of Organizational Performance Evaluation Indices (Case Study: Fasa State Banks), National Conducts of Management Researches and Humanities Research, June, Tehran.
Keshtkar M. M. (2013) Numerical Simulation of Radiative Heat Transfer in a Boiler Furnace Contained with a Non-Gray Gas, International Journal of Engineering & Technology, 1(3), 137-148.
Keshtkar M. M., Ghazanfari M. (2017). Numerical Investigation of Fluid Flow and Heat Transfer Inside a 2D Enclosure with Three Hot Obstacles on the Ramp under the Influence of a Magnetic Field, Engineering, Technology & Applied Science Research, 7 (3), 1647-1657.
Keshtkar, M. (2013) Research Article Simulation of Thermo-Hydraulic Behavior of a Lid-Driven Cavity Considering Gas Radiation Effect and a Heat Generation Zone, International Journal of Engineering & Technology, 1(1), 8-23
Khajavi, Sh.A., Fatahi Nafchi, H., Ghadirian Arati, M.H. (2015), Ranking and Evaluation of FP of Selected Industries of Tehran Stock Exchange Using Fuzzy Combined Model - AHP-Wikipedia; Case Study: Pharmaceutical Companies, Basic Metals and Automotive Parts, Audit Knowledge, Year Fifth, Fall, No. 60.
Kimiagari, A.M., Farhad, F. (2006), A Model for Measuring, Evaluating and Ranking the FP of Urban Water and Wastewater Companies, Financial Analysis, No. 21, Year 8, Spring and Summer. Pages 113-132
Malekian, E., Asghari, J. (2006), A study on the relationship between economic value added and return on assets in order to assess the performance of companies listed in Tehran Stock Exchange, Tehran Stock Exchange, No. 55-54, September and October, pp. 26-28.
Mohammadi, M.R., Azizi, S. (2008), Fuzzy Approach in Performance Evaluation of Water and Wastewater Industries, Rural Water and Wastewater Company of Tehran.
Rahimi, Gh. (2006), Performance Evaluation and Continuous Improvement Organization, Tadbir Journal, No. 173.
Rahnama Roodeposhti, F .and Khanmohamadi , M. , H. (2011) , Comprison of a ccounting based performance evaluation measurement and value base performance evaluation measurement for estimated economic rate of return for companies , financial knowledge for Securities Analysis , 10 , 19-43.(in Persian).
Safaei, A. and Khalili , S. (2012), Theoretical comparison of FP evaluation approaches of organization , first nation conference of accounting , finance management and investment , Applied Science University of Golestan, Gorgan. (in Persian).
Safai Qadelikaii, A.H., Khalili, S. (2015), Evaluation of FP of Companies Affiliated with Tehran Stock Exchange by Using Multi-Criteria Decision Making Techniques. Executive Management Research Journal, Year 7, No. 14.
Www.eghtesadonline.com .
Www.irmeta.com
www.tahlilebourse.loxblog.com .
Www.tasavi.ir
Www.visa.ir
Yalcin , N., Bayrakderaglu, A. , Kahraman , C.,(2012) .Appliation of fuzzy multi-criteria decision making methods for FP evaluation of Turkish manufacturing industries .Expert Systems with Applications , 39, 350-364.
Yook , K.,& C. , McCabe , G.,M.,(2001). MVA and The cross-section of expected stock returns. The Journal of portfolio management, 27(3) , 75-87 .
Published
2017-06-26
How to Cite
Gorjizadeh, F., & Moradi, M. (2017). Identification of criteria effective in financial performance (fp) of iranian petrochemical companies. Amazonia Investiga, 6(10), 89-99. Retrieved from https://amazoniainvestiga.info/index.php/amazonia/article/view/725
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