Evaluation of Financial Performance of Businesses in Stock Market Istanbul Retail Trade Sector According to Traditional and Cash Flow Ratios with Cocoso Method

Ayşe Soy Temür; Saadet Tulum

Makale detayları

Evaluation of Financial Performance of Businesses in Stock Market Istanbul Retail Trade Sector According to Traditional and Cash Flow Ratios with Cocoso Method

Yazarlar:

Ayşe Soy Temür | Saadet Tulum

Yayıncı:

Ataturk University

Ana Başlıklar:

Finansal Ekonomi

Dergi:

Trends in Business and Economics Vol.39 Issue 3, pp.359-377

Belge Tipi:

Makale

Yayın Tarihi:

7/2025

Belge Dili:

İngilizce

Document ID (Org No.):

2001354576

pISSN:

2822-2652

Anahtar kelimeler:

Özet:

 The purpose of this research is to evaluate the financial performance of companies in the Istanbul Stock Market BIST retail trade sector comparatively based on traditional financial rates and cash flow rates. In the study, the financial ratio based on 12 traditional financial ratios and 14 cash flow statements obtained by benefiting from the annual financial statements of the enterprises published in public information platform PIP as a criterion in the calculation of financial performance rankings was taken into consideration. Critic method was used in calculating the criteria weights, while CoCoSo and TOPSIS method was used in determining the financial performance rankings. The ranking results obtained were compared and Spearmans test was applied in order to determine whether there was consistency between the findings. In comparisons based on traditional and cash flow ratios, the highest level of similarity was obtained in 2017 and 2018 for the CoCoSo method and in 2017 and 2019 for the TOPSIS method. The lowest similarity was in 2021 and 2022 for CoCoSo and in 2018, 2021 and 2022 for TOPSIS. In the financial performance ranking results obtained from the methods, similar ranking results were achieved in all years except 2018 and 2019 for traditional ratios and 2019 and 2020 for cash flow ratios.

 The purpose of this research is to evaluate the financial performance of companies in the Istanbul Stock Market BIST retail trade sector comparatively based on traditional financial rates and cash flow rates. In the study, the financial ratio based on 12 traditional financial ratios and 14 cash flow statements obtained by benefiting from the annual financial statements of the enterprises published in public information platform PIP as a criterion in the calculation of financial performance rankings was taken into consideration. Critic method was used in calculating the criteria weights, while CoCoSo and TOPSIS method was used in determining the financial performance rankings. The ranking results obtained were compared and Spearmans test was applied in order to determine whether there was consistency between the findings. In comparisons based on traditional and cash flow ratios, the highest level of similarity was obtained in 2017 and 2018 for the CoCoSo method and in 2017 and 2019 for the TOPSIS method. The lowest similarity was in 2021 and 2022 for CoCoSo and in 2018, 2021 and 2022 for TOPSIS. In the financial performance ranking results obtained from the methods, similar ranking results were achieved in all years except 2018 and 2019 for traditional ratios and 2019 and 2020 for cash flow ratios.

 The purpose of this research is to evaluate the financial performance of companies in the Istanbul Stock Market BIST retail trade sector comparatively based on traditional financial rates and cash flow rates. In the study, the financial ratio based on 12 traditional financial ratios and 14 cash flow statements obtained by benefiting from the annual financial statements of the enterprises published in public information platform PIP as a criterion in the calculation of financial performance rankings was taken into consideration. Critic method was used in calculating the criteria weights, while CoCoSo and TOPSIS method was used in determining the financial performance rankings. The ranking results obtained were compared and Spearmans test was applied in order to determine whether there was consistency between the findings. In comparisons based on traditional and cash flow ratios, the highest level of similarity was obtained in 2017 and 2018 for the CoCoSo method and in 2017 and 2019 for the TOPSIS method. The lowest similarity was in 2021 and 2022 for CoCoSo and in 2018, 2021 and 2022 for TOPSIS. In the financial performance ranking results obtained from the methods, similar ranking results were achieved in all years except 2018 and 2019 for traditional ratios and 2019 and 2020 for cash flow ratios.

 Araştırmanın amacı, BIST perakende ticaret sektöründeki şirketlerin finansal performanslarının geleneksel finansal oranlar ve nakit akış oranlarına göre karşılaştırmalı olarak değerlendirilmesidir. Çalışmada, finansal performans sıralamalarının hesaplanmasında kriter olarak işletmelerin KAPta yayımladıkları 2017-2022 dönemine ilişkin yıllık mali tablolarından faydalanılarak 12 geleneksel finansal oran ile 14 nakit akım tablolarından elde edilen finansal oran dikkate alınmıştır. Kriter ağırlıkları hesaplanırken Critic, finansal performans sıralamalarının belirlenmesinde ise, CoCoSo ve TOPSIS yönteminden faydalanılmıştır. Elde edilen sıralama sonuçları karşılaştırılmış ve bulgular arasında tutarlılık olup olmadığının belirlenmesi amacıyla Spearmans testi uygulanmıştır. Geleneksel ve nakit akış oranlarına dayalı karşılaştırmalarda en yüksek benzerlik düzeyi CoCoSo yönteminde 2017 ve 2018, TOPSIS yönteminde 2017 ve 2019 yıllarında elde edilmiştir. En düşük benzerlik ise CoCoSoya göre 2021 ve 2022, TOPSISe göre ise 2018, 2021 ve 2022 yıllarındadır. Yöntemlerden elde edilen finansal performans sıralama sonuçlarında ise, geleneksel oranlara göre 2018 ve 2019, nakit akış oranlarına göre 2019 ve 2020 haricindeki tüm yıllarda birbirine benzer sıralama sonuçlarına ulaşılmıştır.

Makale detayları

Evaluation of Financial Performance of Businesses in Stock Market Istanbul Retail Trade Sector According to Traditional and Cash Flow Ratios with Cocoso Method

Yazarlar:

Ayşe Soy Temür | Saadet Tulum

Yayıncı:

Ataturk University

Ana Başlıklar:

Finansal Ekonomi

Dergi:

Trends in Business and Economics Vol.39 Issue 3, pp.359-377

Belge Tipi:

Makale

Yayın Tarihi:

7/2025

Belge Dili:

İngilizce

Document ID (Org No.):

2001354576

pISSN:

2822-2652

Istanbul Stock Market Retail Trade

Critic Weight CoCoSo

Financial Performance

Cash Flow RatiosBorsa Istanbul Perakende Ticaret

Critic Ağırlıklandırmalı CoCoSo

Finansal Performans

Nakit Akış Oranları

Sayı

Makale detayları

Yazarlar: Ayşe Soy Temür | Saadet Tulum

Yayıncı: Ataturk University

Ana Başlıklar: Finansal Ekonomi

Dergi: Trends in Business and Economics Vol.39 Issue 3, pp.359-377

Belge Tipi: Makale

Yayın Tarihi: 7/2025

Belge Dili: İngilizce

Document ID (Org No.): 2001354576

pISSN: 2822-2652

Sayı

Yazarlar:

Ayşe Soy Temür | Saadet Tulum

Yayıncı:

Ataturk University

Ana Başlıklar:

Finansal Ekonomi

Dergi:

Trends in Business and Economics Vol.39 Issue 3, pp.359-377

Belge Tipi:

Makale

Yayın Tarihi:

7/2025

Belge Dili:

İngilizce

Document ID (Org No.):

2001354576

pISSN:

2822-2652