Performance evaluation of investment companies: a free disposal hull approach

Sahar Alimardani; Masoud Ghafari   and Maryam Farmani

doi:10.17485/ijst/2012/v5i7.21

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Performance evaluation of investment companies: a free disposal hull approach

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Indian Journal of Science and Technology

DOI: 10.17485/ijst/2012/v5i7.21

Year: 2012, Volume: 5, Issue: 7, Pages: 1-4

Original Article

Performance evaluation of investment companies: a free disposal hull approach

Sahar Alimardani¹ , Masoud Ghafari^2* and Maryam Farmani³

¹Azerbaijan national academy of science, Baku,
²Science and research branch, Islamic Azad University,
³ Department of IT Management, Electronic Branch
[email protected]
*Author For Correspondence
Masoud Ghafari
Department of IT Management, Electronic Branch
Email: [email protected]

This work is licensed under a Creative Commons Attribution 4.0 International License.

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.