Background and Objective: With the growing involvement of governments in economic activities, evaluating the performance of state-owned holding companies has become a major challenge for management systems. This study aims to develop a comprehensive model for assessing the efficiency and effectiveness of large economic holdings affiliated with the Iranian government.

Method: Key performance indicators were identified and analyzed across four dimensions: economic-financial, environmental, social, and transparency/corporate governance. A combination of qualitative content analysis and literature review was employed to extract the indicators, followed by the DEMATEL technique to analyze causal relationships. The research population included seven major holding companies and ten experts in management and planning, selected through judgmental sampling.

Findings: The results indicated that indicators such as group management and strategy, teamwork and collaboration, and compliance with regulations and ethical governance are the main drivers of systematic organizational performance. In contrast, indicators such as profitability, innovation, customer relations, and environmental performance are more influenced by other variables. Among the studied dimensions, economic and transparency aspects were found to be the most influential on overall holding performance.

Conclusion: The proposed model, by addressing multiple levels (individual, team, organization, and holding), enables managers to focus on key factors for holistic performance improvement. The findings serve as a practical guideline for designing performance evaluation policies and enhancing the effectiveness of public sector investments.