ارزیابی عملکرد مالی و رتبه‌بندی شرکت‌های دارویی پذیرفته‌شده در بورس اوراق بهادار تهران با استفاده از الگوی ترکیبی فرایند تحلیل سلسله مراتبی فازی و ویکور

نوع مقاله : مقاله پژوهشی

نویسندگان

1 استادیار گروه مدیریت و حسابداری دانشگاه زنجان

2 کارشناس‌ارشد مدیریت بازرگانی گرایش مالی از دانشگاه آزاد اسلامی واحد زنجان

چکیده

مقدمه: در محیط رقابتی امروز ارزیابی عملکرد صنایع کشورهای در حال توسعه به‌ویژه صنایعی مانند صنایع داروسازی که افزون بر جنبه اقتصادی، تأثیر مستقیمی بر شرایط زیستی و سلامتی افراد جامعه دارد دارای اهمیت دو چندان است.
روش پژوهش: پژوهش حاضر از نظر هدف، کاربردی و از حیث اجرا کتابخانه‌ای و مبتنی بر فنون کمی و از نظر طرح پژوهش، توصیفی-تحلیلی است. جامعه آماری پژوهش را شرکت‌های دارویی پذیرفته‌شده در بورس اوراق بهادار تهران در بازه زمانی 1392-1390 تشکیل می‌دهد. داده‌های آماری این پژوهش مشتمل بر نسبت‌های مالی شرکت‌ها است که با استفاده از روش فرایند تحلیل سلسله مراتبی فازی وزن‌دهی و سپس با استفاده از الگوی ترکیبی فرایند تحلیل سلسله مراتبی فازی و ویکور و با کمک ماکروهای نرم‌افزار Super-Decision نسخه 2 و Excel نسخه 2010 رتبه‌بندی شد.
یافته‌ها: نتایج پژوهش نشان داد که شرکت دارویی دکتر عبیدی در سال 1390 از نظر عملکرد مالی در رتبه اول و شرکت‌های دارویی لقمان و کیمیدارو، به ترتیب، در رتبه‌های دوم و سوم قرار داشته است. در سال 1391، شرکت کیمیدارو در رتبه اول و شرکت‌های دارویی کوثر و لقمان، به ترتیب، در رتبه‌های دوم و سوم قرار داشته است. در سال 1392، شرکت دارویی لقمان در رتبه اول و شرکت‌های دارویی داملران و دکتر عبیدی، به ترتیب، در رتبه‌های دوم و سوم قرار داشته است.
نتیجه‌گیری: از نقطه نظر اهمیت معیارها، معیار نسبت‌های سودآوری با ضریب 358/0 از بیشترین اهمیت و معیار نسبت‌های نقدینگی با ضریب 142/0 از کم‌ترین اهمیت برخوردار است و هم‌چنین در رتبه‌بندی کلی شرکت‌ها، شرکت‌های دارویی‌ لقمان، دکتر عبیدی و اکسیر، به ترتیب، رتبه‌های اول تا سوم را به خود اختصاص داد در حالی که شرکت‌های دارویی پارس دارو و سینا در رده‌های پایین فهرست رتبه‌بندی از حیث عملکرد جای گرفت.   واژه‌های کلیدی: ارزیابی عملکرد، صنعت دارویی، فرایند تحلیل سلسله مراتبی فازی و ویکور.

کلیدواژه‌ها

عنوان مقاله [English]

Evaluating the Financial Performance and Ranking the Pharmaceutical Companies Listed on the Tehran Stock Exchange by Using Hybrid Approaches of Fuzzy Analytic Hierarchy Process and VIKOR

نویسندگان [English]

  • A. Mansouri 1
  • Bagheri A. 2
1 Assistant Professor, Department of Management and Accounting, Zanjan University
2 M. A. in Business Administration, Finance Minor from Islamic Azad University of Zanjan
چکیده [English]

Introduction: In today's competitive environment, the performance evaluation of industries in developing countries, especially such industries as pharmaceutical industry besides its economic aspects, has a direct effect on the environmental conditions and the health of people of the society is as twice important.
Method: The present study is applied in terms of purpose, regarding data collection, it is a library–based research and depending on the quantitative techniques, and according to the research model, it is an analytical descriptive survey. The population of the research consist of the pharmaceutical companies listed on the Tehran Stock Exchange from 2011 to 2013. The statistical data of this research contain the financial ratios of the companies which are ranked through Weight Fuzzy Analytic Hierarchy Process, and then by using the hybrid approach of Fuzzy Analytic Hierarchy Process and VIKOR, and also, by the application of Super Decision Software Version 2.0 and Excel Software Version 2010.
Results: The results of the research indicated that according to the financial performance in 2011, Doctor-abidi pharmaceutical company ranked as the first, Loghman pharmaceutical and hygienic company and Chemidarou, respectively, ranked as second and third companies. In 2012, Chemidarou ranked as first; Cosar and Loghman pharmaceutical companies, respectively, ranked as second and third. In 2013, Loghman ranked as first; Zagros Pharmed and Doctor-abidi pharmaceutical companies ranked as second and third respectively.
Conclusion: From the viewpoint of importance of the criteria, the criterion ratios of profitability with the coefficient of 0.358 is the most significant criterion, and the criterion ratios of liquidity with the coefficient of 0.142 is the least significant criterion. Moreover, in the total ranking of companies, Loghman, Doctor-abidi, and Exir pharmaceutical companies, respectively, ranked as first, second, and third, but, Parsdarou and Sinadarou pharmaceutical companies ranked as the lowest in the list regarding their performance.

کلیدواژه‌ها [English]

  • Fuzzy Analytic Hierarchy Process
  • Performance Evaluation
  • Pharmaceutical Industry
  • VIKOR

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