How performance of top companies are related on Global Competitiveness Index?

Given the role and importance of competitiveness indicators for businesses’ performance and profitability, the question arises why no research has been undertaken internationally in this regard. Therefore, the main purpose of the present study is to investigate the impact of competitiveness index on the financial performance of top companies in the world using performance theory and to evaluate the validity of Global Competitiveness Index data. For this purpose, 176 top companies in the world from 2013 to 2018 that were profitable among the top 200 companies each year were selected as the statistical population. World Bank annual reports, Global Competitiveness Index, and Fortune site were used to collect the data. Also, the data analysis was done according to the panel data method using Eviews10 software. The results show that in general, there is a positive relationship between competitiveness index and financial performance of top companies in the world. On the other hand, the per capita income of the countries in which the top companies belonged was considered a control variable and the results show that the per capita income has a positive and significant relationship with the financial performance of the top companies in the world.