{"id":1437,"date":"2026-08-04T16:06:20","date_gmt":"2026-08-04T16:06:20","guid":{"rendered":"https:\/\/www.ahmadinia.fi\/index.php\/portfolio\/analyzing-performance-of-investment-companies-listed-in-tehran-stock-exchange-by-selected-ratios-and-measures\/"},"modified":"2026-08-05T17:09:37","modified_gmt":"2026-08-05T17:09:37","slug":"analyzing-performance-of-investment-companies-listed-in-tehran-stock-exchange-by-selected-ratios-and-measures","status":"publish","type":"academic_item","link":"https:\/\/www.ahmadinia.fi\/index.php\/portfolio\/analyzing-performance-of-investment-companies-listed-in-tehran-stock-exchange-by-selected-ratios-and-measures\/","title":{"rendered":"Analyzing Performance of Investment Companies Listed in Tehran Stock Exchange by Selected Ratios and Measures"},"content":{"rendered":"

\"\"This paper analyzes the performance of investment companies listed on the Tehran Stock Exchange that engaged in active portfolio management from 2006 to 2010, using the Sharpe, Treynor, and Sortino ratios. To gain a deeper understanding of their performance, the study also incorporates additional measures, including portfolio turnover, liquidity, size, and diversification.\u00a0After collecting the necessary test data, statistical tests such as Kolmogorov-Smirnov and Shapiro-Wilk were conducted, revealing that the data distribution was not normal. Consequently, the hypotheses were tested using nonparametric methods.\u00a0The findings of the first hypothesis, evaluated using Friedman and Wilcoxon tests, indicate that the companies demonstrated stronger control over systematic risk compared to other risk components. The results of the second hypothesis, analyzed using a combination of ANOVA and Multiple ANOVA, suggest that portfolio turnover had a more significant and positive impact on company performance than the other evaluated measures. This implies that investors can identify companies with high portfolio turnover and superior performance, even when other measures, such as liquidity and diversification, are relatively lower.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tehrani, R., Ahmadinia, H., & Hasbaei, A., (2011). Analyzing Performance of Investment Companies Listed in Tehran Stock Exchange by Selected Ratios and Measures, African Journal of Business Management, 5(17):7428-743.<\/p>\n","protected":false},"author":1,"featured_media":0,"template":"","meta":{"had_date":"2011-01-01","had_date_precision":"day","had_venue":"African Journal of Business Management","had_authors":"Tehrani, R., Ahmadinia, H., & Hasbaei","had_external_url":"http:\/\/dx.doi.org\/10.5897\/AJBM11.204","had_doi":"10.5897\/AJBM11.204","had_citation":"Tehrani, R., Ahmadinia, H., & Hasbaei, A., (2011). Analyzing Performance of Investment Companies Listed in Tehran Stock Exchange by Selected Ratios and Measures, African Journal of Business Management, 5(17):7428-743.","had_meta_label":"Publication","had_amount":"","had_location":"","had_topic":"","had_field":"","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_featured":false,"footnotes":""},"tags":[],"academic_type":[259],"class_list":["post-1437","academic_item","type-academic_item","status-publish","hentry","academic_type-legacy-journal-archive"],"_links":{"self":[{"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/academic_item\/1437","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"}],"version-history":[{"count":1,"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/academic_item\/1437\/revisions"}],"predecessor-version":[{"id":1504,"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/academic_item\/1437\/revisions\/1504"}],"wp:attachment":[{"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/media?parent=1437"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/tags?post=1437"},{"taxonomy":"academic_type","embeddable":true,"href":"https:\/\/www.ahmadinia.fi\/index.php\/wp-json\/wp\/v2\/academic_type?post=1437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}