Evaluation of Private Banks Listed on the Tehran Stock Exchange by the Use of SAW, TOPSIS, and VIKOR Methods

Choosing the optimal portfolio to invest has always been investors’ one of the main concerns. Investigation of financial statements such as financial ratios, profit and loss management, and balance sheet along with using the stock exchange data of companies in order to select the optimal portfolio has been a suitable strategy for this group of investors. In this study, out of ۱۹ private banks active in the Tehran Stock Exchange, ۱۴ banks (according to the experts’ opinions and considering the transparency of financial statements, the openness of the symbol in the trading market, and the clarity of stock exchange data for several days in recent years) have been selected and investigated. First, we calculated the performances of these banks in ۹ financial ratios in the financial statements up to March ۲۰, ۲۰۱۹ as well as their stock ratios (Sharpe and Treynor ratios) during the last ۱۰ years. Using ۳ evaluation methods of SAW, TOPSIS, and VIKOR, we ranked the banks and finally compared the results with each other. In order to give weights to the indicators, the academic and banking experts’ opinions were used, leading to an increase the accuracy and scientific burden of the research. The distinctive feature of this research compared to similar articles and researches is the simultaneous use of financial statements and stock ratios (Sharpe and Treynor ratios and the beta coefficient), leading to more accuracy and reliability of the results obtained in this article. At the end of this study, it was found that the best banks for investors to invest is Sarmayeh Bank.

کلیدواژه ها:

private banks ، financial ratios ، stock ratios