Presenting a Developed Model by Integrating DEA, Factor Analysis and Common Set of Weights (Case: Insurance Industry)

Document Type : Original Article

Authors

1 Ph.D. Student, Shahid Beheshti University.

2 Professor, Shahid Beheshti University.

3 Professor, Allameh Tabatabaei University.

4 Associate Professor, Shahid Beheshti University.

Abstract

In the information technology era with complex and ever changing In the information technology era with complex and ever changing national and international environment, organizations are faced with so many challenges. In this situation performance evaluation for each industry and its subsystems will be more difficult. The main aim of this study is providing an improved model for performance appraisal and insurance companies ranking with the new and nonparametric methods. For choosing the indicators related to study we used BSC and for ranking each company and determining its position among the others, data envelopment analysis was applied which is a comprehensive method for evaluating efficiency. The advantage of this study rather than previous ones is applying factor analysis and principle component analysis to provide independency between inputs and outputs and reduce and cluster them to the most important indicators as, factors. At the same time interfering the priority of each factor from the experts' points of view with applying goal programming approach makes the model more accurate. By doing so, the most efficient companies were introduced as insurer 1, 6 and 12 regularly.

Keywords

References

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