Measurement and analysis of superior efficiency: An applied study on a sample of companies listed in the Iraqi Stock Exchange for the period 2016-2020
Article Sidebar
Main Article Content
Abstract
The research aimed to measure and analyze the super efficiency of a sample of companies listed in the Iraq Stock Exchange, as the variables of the super-efficiency model included inputs and outputs, as they included inputs (total costs X1, paid-up capital X2, debt ratio X3). While the outputs included (total Revenues Y1, net short-term investments Y2, number of traded shares Y3), The method of analyzing the data envelope of the super-efficiency model was applied to 46 companies listed on the Iraqi Stock Exchange distributed over 7 different sectors during the period (2016-2020) using the volume returns model. The study found that there were 24 companies that achieved high efficiency during the year (2016), 18 companies during the year (2017), 25 companies during the year (2018), 22 companies during the year (2019), and 18 companies during the year (2020). The research assumed that part of the companies listed in the Iraq Stock Exchange achieved super efficiency during the research period, while the other part could not reach the level of super efficiency for that company. The research reached a number of recommendations, most notably: the need to work on developing the Iraqi stock market by providing human expertise that can keep pace with recent developments that work to guide investors in directing their shares to companies that are expected to achieve increased returns after a period of time. And the necessity of relying on one of the companies’ super efficiency models in order to benefit from the characteristics of these models in minimizing production requirements and achieving optimal use on the one hand and maximizing outputs on the other hand, because this leads to raising the super efficiency of these companies.
Downloads
Article Details
References
اولاً. المصادر العربية:
بتال، احمد حسين، (2012)، قياس وتحليل كفاءة اداء المصارف الخاصة في العراق باستخدام تكنيك تحليل مغلف البيانات، اطروحة دكتوراه، قسم الاقتصاد، كلية الادارة والاقتصاد، جامعة بغداد، العراق.
العاني، ايناس شاكر، (2021)، المحفظة الاستثمارية المثلى والتطبيقات الحديثة في توظيف النماذج الرياضية، الطبعة الاولى، دار الدكتور للعلوم الادارية والاقتصادية، بغداد، العراق.
الفهداوي، هشام مهيدي صالح، (2021)، تقدير الحجم الامثل للشركة وأثره في مؤشرات الاداء المالي: دراسة تطبيقية على عينة من الشركات المدرجة في سوق العراق للأوراق المالية للمدة 2010-2019، رسالة ماجستير غير منشورة، قسم الاقتصاد، كلية الادارة والاقتصاد، جامعة الانبار، العراق.
اتحاد المصارف العربية، (2019)، دور فاعل لسوق العراق للأوراق المالية في جذ الاستثمار.
البنك المركزي العراقي، النشرة السنوية، دائرة الاحصاء والابحاث، اعداد مختلفة، (2011-2020).
دليل الشركات المدرجة في سوق العراق للأوراق المالية (قائمة الدخل)، اعداد مختلفة (2011-2020).
دليل الشركات المدرجة في سوق العراق للأوراق المالية (قائمة الدخل)، اعداد مختلفة (2011-2020).
وزارة التخطيط، الجهاز المركزي للإحصاء، التقارير السنوية (2011-2020).
وزارة التخطيط، خطة التنمية الوطنية، اعداد مختلفة (2016-2020).
ثانياً. المصادر الأجنبية:
Cooper, W., Seiford, L.M, And Tone, K., (2002), Data Envelopment Analysis: A Comprehensive Text with Model, Application, References And DEA, Publisher: Springer US.
Makdissi, Paul, (2006), definition of economic efficiency, first edition, university of Ottawa, Canada.
Mehdioozad, Mahmod, And Israfil Roshdi، Analyzing the Concept of Super Efficiency in Data Envelopment Analysis: A Directional Distance Function Approach, University Tehran, Iran.
Taormina, j. Robert, (2011), factors influencing work efficiency in china, university macaw, china.
Tone, K., (2007), Data Envelopment Analysis: A Comprehensive Text with Models Application, References and DEA Solver Software, Edition 2, Publisher: Springer US.
Zanboory, E & M. Rostamy Malkhalifeh & G.R Jahanshahloo And N. Shoja, (2014), calculating super efficiency of DMUs for ranking units in data envelopment analysis based SBM models, scientific world journal, Iran.