PERFORMANCE ANALYSİS WİTH MARKET MULTİPLİERS: BIST INSURANCE COMPANİES

Mehmet Zafer Taşcı

Makale detayları

PERFORMANCE ANALYSİS WİTH MARKET MULTİPLİERS: BIST INSURANCE COMPANİES

Yazarlar:

Mehmet Zafer Taşcı

Yayıncı:

Nevsehir Haci Bektas Veli University

Dergi:

Nevşehir Hacı Bektaş Veli Üniversitesi SBE Dergisi Vol.13 Issue 2, pp.1211-1224

Belge Tipi:

Makale

Yayın Tarihi:

6/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001294571

pISSN:

2149-3871

Anahtar kelimeler:

Özet:

 In this study, it is aimed to examine the performances of insurance companies traded in Borsa Istanbul with market multipliers. For this purpose, 5 insurance companies traded in Borsa Istanbul were evaluated using the LOPCOW-CODAS multi-criteria model. First of all, the weights of the PriceEarnings, Market ValueBook Value, Market ValueAssets and Earnings Per Share criteria were determined using the LOPCOW method. Then, the market performance ranking of insurance companies was made using the CODAS method. According to the findings of the study, it has been determined that the most important criterion in determining the market performance of insurance companies is the Market ValueAssets criterion. In addition, it has been observed that RAY Insurance consistently ranks first among the companies included in the analysis in 2020, 2021 and 2022. Finally, two different sensitivity analyzes were conducted based on different criteria weights and different threshold parameters approach. It has been observed that the market performance rankings of the companies do not change according to different criterion weights and different threshold parameter values. This shows that the proposed model and study findings are valid and reliable.

 In this study, it is aimed to examine the performances of insurance companies traded in Borsa Istanbul with market multipliers. For this purpose, 5 insurance companies traded in Borsa Istanbul were evaluated using the LOPCOW-CODAS multi-criteria model. First of all, the weights of the PriceEarnings, Market ValueBook Value, Market ValueAssets and Earnings Per Share criteria were determined using the LOPCOW method. Then, the market performance ranking of insurance companies was made using the CODAS method. According to the findings of the study, it has been determined that the most important criterion in determining the market performance of insurance companies is the Market ValueAssets criterion. In addition, it has been observed that RAY Insurance consistently ranks first among the companies included in the analysis in 2020, 2021 and 2022. Finally, two different sensitivity analyzes were conducted based on different criteria weights and different threshold parameters approach. It has been observed that the market performance rankings of the companies do not change according to different criterion weights and different threshold parameter values. This shows that the proposed model and study findings are valid and reliable.

 In this study, it is aimed to examine the performances of insurance companies traded in Borsa Istanbul with market multipliers. For this purpose, 5 insurance companies traded in Borsa Istanbul were evaluated using the LOPCOW-CODAS multi-criteria model. First of all, the weights of the PriceEarnings, Market ValueBook Value, Market ValueAssets and Earnings Per Share criteria were determined using the LOPCOW method. Then, the market performance ranking of insurance companies was made using the CODAS method. According to the findings of the study, it has been determined that the most important criterion in determining the market performance of insurance companies is the Market ValueAssets criterion. In addition, it has been observed that RAY Insurance consistently ranks first among the companies included in the analysis in 2020, 2021 and 2022. Finally, two different sensitivity analyzes were conducted based on different criteria weights and different threshold parameters approach. It has been observed that the market performance rankings of the companies do not change according to different criterion weights and different threshold parameter values. This shows that the proposed model and study findings are valid and reliable.

 Çalışmada Borsa İstanbulda işlem gören sigorta şirketlerinin piyasa çarpanlarıyla performanslarını incelemek amaçlanmıştır. Bu amaçla LOPCOW-CODAS çok kriterli modeli kullanılarak Borsa İstanbulda işlem gören 5 sigorta şirketi değerlendirilmiştir. Öncelikle LOPCOW yöntemi ile FiyatKazanç, Piyasa DeğeriDefter Değeri, Piyasa DeğeriAktifler ve Hisse Başına Kâr kriterlerinin ağırlıkları belirlenmiştir. Sonrasında CODAS yöntemi kullanılarak sigorta şirketlerinin piyasa performans sıralaması yapılmıştır. Çalışma bulgularına göre sigorta şirketlerinin piyasa performansının belirlenmesinde en dikkat edilmesi gereken kriterin Piyasa DeğeriAktifler kriteri olduğu tespit edilmiştir. Ayrıca 2020, 2021 ve 2022 yıllarında analize dahil edilen şirketler arasında RAY Sigortanın sürekli olarak birinci sırada yer aldığı gözlemlenmiştir. Son olarak farklı kriter ağırlıklarına ve farklı eşik parametreleri yaklaşımına dayalı olmak üzere iki farklı duyarlılık analizi yapılmıştır. Farklı kriter ağırlıklar ve farklı eşik parametre değerlerine göre şirketlerin piyasa performans sıralamalarının değişmediği gözlemlenmiştir. Bu durum çalışmada önerilen modelin ve çalışma bulgularının geçerli ve güvenilir olduğunu göstermektedir.

Makale detayları

PERFORMANCE ANALYSİS WİTH MARKET MULTİPLİERS: BIST INSURANCE COMPANİES

Yazarlar:

Mehmet Zafer Taşcı

Yayıncı:

Nevsehir Haci Bektas Veli University

Dergi:

Nevşehir Hacı Bektaş Veli Üniversitesi SBE Dergisi Vol.13 Issue 2, pp.1211-1224

Belge Tipi:

Makale

Yayın Tarihi:

6/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001294571

pISSN:

2149-3871

BIST

Insurance Company

Market Performance Analysis

LOPCOW

CODASBorsa İstanbul

Sigorta Şirketi

Piyasa Performans Analizi

LOPCOW

CODAS

Sayı

Makale detayları

Yazarlar: Mehmet Zafer Taşcı

Yayıncı: Nevsehir Haci Bektas Veli University

Dergi: Nevşehir Hacı Bektaş Veli Üniversitesi SBE Dergisi Vol.13 Issue 2, pp.1211-1224

Belge Tipi: Makale

Yayın Tarihi: 6/2023

Belge Dili: Türkçe

Document ID (Org No.): 2001294571

pISSN: 2149-3871

Sayı

Yazarlar:

Mehmet Zafer Taşcı

Yayıncı:

Nevsehir Haci Bektas Veli University

Dergi:

Nevşehir Hacı Bektaş Veli Üniversitesi SBE Dergisi Vol.13 Issue 2, pp.1211-1224

Belge Tipi:

Makale

Yayın Tarihi:

6/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001294571

pISSN:

2149-3871