Performance Evaluation of Information and Communication Technology Corporations in Tehran Stock Market: Inconsistency with the Global Trend

Abstract

The impact of information & communication technology to increase financial transactions in different fields shows the positive developments of this industry in IRAN. But, is the ICT industry also can be effective in the economic capital of the country? It occurs when the ICT industry has a good performance in the capital markets. In this study, the ICT industry in the Tehran Stock Exchange was used to check its performance in the economy's capital. The data and documents related to the profitability of companies in this industry for 6 years were studied. Eight companies with the nature of ICT and also 68 other companies in 17 industries were selected. To understand the informational efficiency, runs test; and for trend analyzing, linear regression; and for comparative evaluation, Topsis model have been used. The results showed that the ICT industry in Tehran stock exchange has not even weak level of performance information. In addition it has had a decreasing trend and finally in comparison to other industries it has delivered a poor performance; the results are completely inconsistent with other countries and show that Iran's ICT condition needs a fundamental reflection.