A Resilience-Based Model for Performance Assessment of Companies Listed in Tehran Stock Exchange During Economic and Environmental Crisis

Abstract

Companies are faced with serious challenges in environmental and economic crisis. It may become a threat to their financial performance and viability. Thus, there is an urgent need for being resilient in the event of any disruption. The present study aims to assess the performance of companies listed in Tehran Stock Exchange in terms of resilience factors. A standardized questionnaire containing resilience factors is designed to collect data from managers and staff. The effect of resilience factors on performance in the crisis period is examined by data envelopment analysis (DEA) method. It is observed that performance is greatly affected by management commitment, awareness, self-organization, and competitiveness and an improvement in them enables the companies to be more resilient during environmental and economic crisis period. An integrated approach to the performance optimization of companies is first developed. It may be a useful framework for any type of company to identify the most important resilience factors in economic crisis.

Keywords

• environmental and economic crisis
• resilience
• data envelopment analysis
• iranian companies