Performance appraisals of ICT companies in the Tehran stock market: contradiction with the global trend

Sepehr Ghazinoory, Amir Khorasani, Ali Asghar Anvari Rostamy, Ghazaleh Taheriattar, Mona Rashidirad

Research output: Contribution to journalArticlepeer-review


The impact of information & communication technology (ICT) in increasing financial transactions in different fields, shows the positive developments of this industry in Iran. But could the ICT industry also be effective in the economic capital of the country? This could occur when the ICT industry has a good performance in the capital markets. In this research, the ICT industry in the Tehran Stock Exchange was used to assess its performance in the economy's capital. The data and documents related to the profitability of corporates in ICT industry for six years over the range studied. A total of eight corporate companies with the nature of ICT, and 68 other corporate companies from a total of 17 industries were selected. To discover the informational efficiency, runs test, for analysing trend, linear regression and for comparative assessment, a TOPSIS model has been used. The results showed that the ICT industry in the Tehran Stock Exchange does not have even a weak level of efficiency of information. In addition, it has had a declining trend and finally, in comparison to other industries, it has delivered a poor performance; the results are completely inconsistent with results from other countries and show that Iran's ICT status needs fundamental reflection.
Original languageEnglish
Pages (from-to)529-544
Number of pages16
JournalEconomic Research
Issue number1
Publication statusPublished - 13 May 2016

Bibliographical note

© 2016 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution License ( licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.


  • Information & communication technology (ICT)
  • Tehran Stock Market
  • performance
  • profitability
  • industry appraisals


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