A Financial, Governance and Social Responsibility Evaluation Comprehensive Model (FGCSM) based on Six Approaches and New Perspective of Performance Evaluation

The purpose of this study is to provide a comprehensive model of financial, governance and the social responsibility evaluation of firms on a new perspective of performance evaluation. After reviewing the research literature, the conceptual model of the research is developed based on 6 approaches in the form of 25 components (indicators). To validate and assign weights to this comprehensive model at the level of approaches, 15 experts’ opinion are used based on the hierarchical analysis method and assigning weights to the components (indices), the Shannon Entropy method using quantitative data from a sample of 180 firms listed Tehran Stock Exchange, is applied. The results of the study show that the economic approach and the social responsibility approach have the highest and lowest weight in the comprehensive evaluation of firms based on this model, respectively. Also, among the components of the integrated approach, the ratio (P/E) has the highest weight. Also findings show that rating a firm based on this comprehensive model may provides a multilateral view and informed judgment for capital market participants.