Corporate Performance Measurement Method using Grey Relation Analysis and Fuzzy TOPSIS

For opposition with challenges that confront organizations, it is required that managers should have suitable methods for performance measurement to achieve continuous improvement in all areas. Performance measurement made possible steady progress toward the determined objectives and identify slumps and booms. One of the important performance criteria, are financial criteria measure of them is possible by the different techniques. In this article grey relation analysis and fuzzy multi criteria method with financial criteria is used. This research is a survey in Tehran stock exchange. Statistical population inclusive 50 superior companies of Tehran stock exchange in 1387. The data of these companies in 1387 has been analyzed. Findings of this research are clustering of financial performance measurement criteria and select criterion from financial ratios using grey relation analysis. Some of financial ratios are identified on similar patterns. To avoid evaluating on similar financial ratios repeatedly, financial ratios should be partitioned into several financial clusters, and a representative indicator is selected from one cluster to be as an evaluation criterion. Ranking of companies is final finding of this research that is derived with composition of grey relation analysis and fuzzy topsis method. Results shown that with employing this approach, can easily compare and rank financial performance of companies.