Modeling and stratification of factors affecting capital efficiency in listed companies

This research has been investigated with the aim of modeling and stratification of factors affecting capital efficiency in listed companies. The statistical community of this research includes financial experts and stock market experts who were selected by the Judgmental sampling. The sample number of this research is 16 people. In this research, firstly, by using an expert-oriented questionnaire and by using the fuzzy Delphi method, in two stages, the components affecting capital efficiency in listed companies were identified and scored, and then, by using the ISM questionnaire, the components were leveled. Identified, action was taken. Finally, seven levels were identified in this research with the help of Mic Mac software and level determination. In this research, the identified levels are: First level: ratio of operating profit to total assets, age of the company, financial leverage. Second level: current ratio, ratio of working capital to total assets, quality of financial reporting, company size, return on assets, asset turnover, loss index, average monthly stock return. The third level: return on assets. Fourth level: operating profit margin, management ability, capital structure of the company. Fifth level: current assets to total assets. The sixth level: debt ratio and asset turnover ratio. Seventh level: return on equity index. The obtained results can help to expand the theoretical foundations in this field, considering the gap of studies observed regarding capital efficiency in listed companies. In addition, the results of this research help managers of listed companies to make appropriate decisions and direct capital to prevent waste of resources and capital efficiency.