Indian Journal of Science and Technology

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Performance Evaluation of Investment Companies: a Free Disposal Hull Approach


Affiliations
1 Azerbaijan national academy of science, Baku, Azerbaijan
2 Science and research branch, Islamic Azad University, Khomein, Iran, Islamic Republic of
3 Department of IT Management, Electronic Branch, Islamic Azad University, Tehran, Iran, Islamic Republic of
 

The aim of this study is to assess the financial performance of Iranian mutual fund companies. For this, ten financial indices are extracted from the existing data and the input oriented structure of the free disposal hull (FDH) model is applied to identify their performance. We report that the basic FDH does not distinguish between efficient and inefficient units. Hence, a super efficiency analysis model AP-FDH is applied to gain the complete ranking. Accordingly, the Booali Investment Corporation, the second best investment company in the Tehran Stock Exchange (TSE) ranking, is identified as the superior investment company in the proposed ranking.

Keywords

Performance Evaluation, Investment Company, Free Disposal Hull
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  • Performance Evaluation of Investment Companies: a Free Disposal Hull Approach

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Authors

Sahar Alimardani
Azerbaijan national academy of science, Baku, Azerbaijan
Masoud Ghafari
Science and research branch, Islamic Azad University, Khomein, Iran, Islamic Republic of
Maryam Farmani
Department of IT Management, Electronic Branch, Islamic Azad University, Tehran, Iran, Islamic Republic of

Abstract


The aim of this study is to assess the financial performance of Iranian mutual fund companies. For this, ten financial indices are extracted from the existing data and the input oriented structure of the free disposal hull (FDH) model is applied to identify their performance. We report that the basic FDH does not distinguish between efficient and inefficient units. Hence, a super efficiency analysis model AP-FDH is applied to gain the complete ranking. Accordingly, the Booali Investment Corporation, the second best investment company in the Tehran Stock Exchange (TSE) ranking, is identified as the superior investment company in the proposed ranking.

Keywords


Performance Evaluation, Investment Company, Free Disposal Hull

References





DOI: https://doi.org/10.17485/ijst%2F2012%2Fv5i7%2F30513