Efficiency Evaluation and Rating of registerd brokerage firms of Tehran Stock Exchange Using data envelopment analysis (DEA)
Author(s):
Abstract:
The main purpose of this study is to evaluate the efficiency and rating of registerd brokerage firms of Tehran Stock Exchange using data envelopment analysis.
To do this, the rating data of 87 active brokers in Tehran Stock Exchange that have done for 1390(2012) year by securities and exchange organization, was used and brokers efficiency was measured by using DEA-Master software. Also, efficient brokers were rated based on Anderson-Peterson method in two states of input oriented and output oriented.
Results showed that, among the 87 brokers, only 44 brokers were efficient. Results also showed, brokers that have top rated by securities and exchange organization, based on data envelopment analysis techniques are not necessarily efficient. In other words, some of low rated brokers by securities and exchange organization were more efficient than top rated brokers by securities and exchange organization.
To do this, the rating data of 87 active brokers in Tehran Stock Exchange that have done for 1390(2012) year by securities and exchange organization, was used and brokers efficiency was measured by using DEA-Master software. Also, efficient brokers were rated based on Anderson-Peterson method in two states of input oriented and output oriented.
Results showed that, among the 87 brokers, only 44 brokers were efficient. Results also showed, brokers that have top rated by securities and exchange organization, based on data envelopment analysis techniques are not necessarily efficient. In other words, some of low rated brokers by securities and exchange organization were more efficient than top rated brokers by securities and exchange organization.
Keywords:
Language:
Persian
Published:
Journal of Investment Knowledge, Volume:2 Issue: 8, 2014
Pages:
175 to 198
magiran.com/p1534122
دانلود و مطالعه متن این مقاله با یکی از روشهای زیر امکان پذیر است:
اشتراک شخصی
با عضویت و پرداخت آنلاین حق اشتراک یکساله به مبلغ 1,390,000ريال میتوانید 70 عنوان مطلب دانلود کنید!
اشتراک سازمانی
به کتابخانه دانشگاه یا محل کار خود پیشنهاد کنید تا اشتراک سازمانی این پایگاه را برای دسترسی نامحدود همه کاربران به متن مطالب تهیه نمایند!
توجه!
- حق عضویت دریافتی صرف حمایت از نشریات عضو و نگهداری، تکمیل و توسعه مگیران میشود.
- پرداخت حق اشتراک و دانلود مقالات اجازه بازنشر آن در سایر رسانههای چاپی و دیجیتال را به کاربر نمیدهد.
In order to view content subscription is required
Personal subscription
Subscribe magiran.com for 70 € euros via PayPal and download 70 articles during a year.
Organization subscription
Please contact us to subscribe your university or library for unlimited access!