Data Envelopment Analysis and Efficiency of Firms: A Goal programing Approach

Using the data envelopment analysis method to determine the most efficient companies listed on the Tehran Stock Exchange.

In this study, three industries of banking, petrochemical and pharmaceutical have been studied to determine efficient companies. Then, using the ideal planning method, the investment percentage of each company's share in the portfolio is calculated. In this method, once the return and share risk as model variables and with another liquidity variable is added to them.

The results showed that after ranking the companies, their sensitivity can be analyzed and by determining the weaknesses and recognizing the impact of variables, to increase the efficiency of companies.

Originality/Value:

Using the portfolio of efficient companies for investment leads to reducing investment risk and choosing the right portfolio.