Brokerage firm are considered as one of the most important financial institutions in the capital market. Identifying professional performance indicators of these firm based on Islamic criteria is necessary to make the capital market in Iran, more efficient.
In this study, using the literature of Islamic finance in other countries about the performance indicators of financial service institutions, and the view point of Iranian capital market experts, the professional performance indices based on Islamic criteria are elicited and brokerage firm are evaluated using Data Envelopment Analysis, which is one of the nonparametric methods. It should be mentioned that the models of BCC, CCR and AP, that are the basic models in DEA, were used in this study.
This study has identified three Islamic dimensions of brokerage firms, namely, social responsibility, transparency and legitimacy of an organization such that, according to experts' view, all of them have different performance indicators. Results of rhis study revealed that brokers have the constant returns to scale.
Azar,A , Salehabadi,A and Tajmir Riyahi,H . (2012). Ranking Efficiency of Brokerage Firms Based on professional performance (Data Envelopment Analysis Approach). Quarterly Journal of Securities Exchange, 5(19), 85-103.
MLA
Azar,A , , Salehabadi,A , and Tajmir Riyahi,H . "Ranking Efficiency of Brokerage Firms Based on professional performance (Data Envelopment Analysis Approach)", Quarterly Journal of Securities Exchange, 5, 19, 2012, 85-103.
HARVARD
Azar A, Salehabadi A, Tajmir Riyahi H. (2012). 'Ranking Efficiency of Brokerage Firms Based on professional performance (Data Envelopment Analysis Approach)', Quarterly Journal of Securities Exchange, 5(19), pp. 85-103.
CHICAGO
A Azar, A Salehabadi and H Tajmir Riyahi, "Ranking Efficiency of Brokerage Firms Based on professional performance (Data Envelopment Analysis Approach)," Quarterly Journal of Securities Exchange, 5 19 (2012): 85-103,
VANCOUVER
Azar A, Salehabadi A, Tajmir Riyahi H. Ranking Efficiency of Brokerage Firms Based on professional performance (Data Envelopment Analysis Approach). Quarterly Journal of Securities Exchange. 2012;5(19):85-103 (In Persian).
