{"id":1424,"date":"2026-08-04T16:06:18","date_gmt":"2026-08-04T16:06:18","guid":{"rendered":"https:\/\/www.ahmadinia.fi\/index.php\/portfolio\/evaluation-performance-of-50-top-companies-listed-in-tehran-stock-exchange-by-sortino-erov-and-m3\/"},"modified":"2026-08-13T05:50:40","modified_gmt":"2026-08-13T05:50:40","slug":"evaluation-performance-of-50-top-companies-listed-in-tehran-stock-exchange-by-sortino-erov-and-m3","status":"publish","type":"academic_item","link":"https:\/\/www.ahmadinia.fi\/index.php\/portfolio\/evaluation-performance-of-50-top-companies-listed-in-tehran-stock-exchange-by-sortino-erov-and-m3\/","title":{"rendered":"Evaluation Performance of 50 Top Companies Listed in Tehran Stock Exchange by SORTINO, EROV and M3"},"content":{"rendered":"

\"\"This paper evaluates the performance of the top 50 companies listed on the Tehran Stock Exchange from 2006 to 2010. A non-probability sampling method was used to select companies with positive liquidity, high turnover, and significant market impact.\u00a0Using post-modern portfolio theory, the study applied EROV, Sortino, and M\u00b3 ratios to assess performance. Statistical analysis using ANOVA and the post-hoc Tukey test revealed significant differences in company performance. However, the results indicated that these companies did not outperform the market. Therefore, the researchers recommend incorporating additional financial and economic factors when selecting the top 50 companies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ataie, Y., Ahmadinia, H., & Afrasiabishani, J., (2012). Evaluation Performance of 50 Top Companies Listed in Tehran Stock Exchange By SORTINO, EROV and M3, International Journal of Economics and Finance, 4(1): 213-222<\/p>\n","protected":false},"author":1,"featured_media":2758,"comment_status":"open","ping_status":"closed","template":"","meta":{"had_date":"2012-01-01","had_date_precision":"day","had_venue":"International Journal of Economics and Finance","had_authors":"Ataie, Y., Ahmadinia, H., & Afrasiabishani, J","had_external_url":"https:\/\/doi.org\/10.5539\/ijef.v4n1p213","had_doi":"10.5539\/ijef.v4n1p213","had_citation":"Ataie, Y., Ahmadinia, H., & Afrasiabishani, J., (2012). Evaluation Performance of 50 Top Companies Listed in Tehran Stock Exchange By SORTINO, EROV and M3, International Journal of Economics and Finance, 4(1): 213-222","had_meta_label":"Publication","had_amount":"","had_location":"","had_topic":"","had_field":"Portfolio performance; Tehran Stock Exchange","had_method":"","had_data_source":"","had_participants":"","had_platform":"","had_level":"","had_publisher":"","had_language":"English","had_jufo":"","had_institution":"","had_students":"","had_credits":"","had_format":"Publication","had_city":"","had_latitude":"","had_longitude":"","had_quantity":"","had_amount_eur":"","had_currency":"","had_country":"","had_project_id":"","had_teaching_portfolio_role":"","had_featured":false,"had_news_effect":"global","had_abstract":"The aim of this paper is to evaluate the performance of top 50 Companies listed in Tehran Stock Exchange. This study was performed on the companies that were active from 2006 until 2010. The paper applied non-probable method in order to choose companies, which had positive liquidity, high turnover and high effect on the market. With regard to post modern portfolio theory, the researchers used EROV, SORTINO, and M3 ratios. The results of statistical analyzing with ANOVA and POST TOKEY test indicated that the performance of these companies is different, and they didn\u2019t have better performance than market. Therefore the researchers suggest applying more financial and economic based factors to choose top 50 companies.","had_keywords":"Portfolio performance\nSortino ratio\nEROV\nM3\nTehran Stock Exchange","had_isbn":"","had_issn":"","had_volume":"","had_issue":"","had_pages":"","had_publication_place":"","had_edition":"","had_project_ids":"","footnotes":"","_had_popup_image_id":0,"_had_popup_image_fit":"automatic"},"tags":[],"academic_type":[105],"class_list":["post-1424","academic_item","type-academic_item","status-publish","has-post-thumbnail","hentry","academic_type-journal-papers"],"_links":{"self":[{"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/academic_item\/1424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/academic_item"}],"about":[{"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/types\/academic_item"}],"author":[{"embeddable":true,"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/comments?post=1424"}],"version-history":[{"count":3,"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/academic_item\/1424\/revisions"}],"predecessor-version":[{"id":2837,"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/academic_item\/1424\/revisions\/2837"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/media\/2758"}],"wp:attachment":[{"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/media?parent=1424"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/tags?post=1424"},{"taxonomy":"academic_type","embeddable":true,"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/academic_type?post=1424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}