Financial Performance Measurement of Companies in the BIST Sustainability 25 Index with LBWA and MEREC-based CRADIS Methods

Süreyya Yılmaz Özekenci

Makale detayları

Financial Performance Measurement of Companies in the BIST Sustainability 25 Index with LBWA and MEREC-based CRADIS Methods

Yazarlar:

Süreyya Yılmaz Özekenci

Yayıncı:

Burdur Mehmet Akif Ersoy University

Ana Başlıklar:

Financial Economy

Dergi:

Journal of Mehmet Akif Ersoy University Economics and Administrative Sciences Faculty Vol.11 Issue 3, pp.1184-1211

Belge Tipi:

Makale

Yayın Tarihi:

9/2024

Belge Dili:

İngilizce

Document ID (Org No.):

2001328887

pISSN:

2149-1658

Anahtar kelimeler:

Özet:

 Abstract Financial performance refers to the assessment of a firms capacity to generate profits and manage its financial assets effectively during a specific period of time. This study addresses the evaluation of financial performance of companies in the BIST Sustainability 25 Index using a hybrid MCDM method. For this investigation, nine criteria, namely, acid-test ratio, asset turnover, current ratio, debt ratio, EBITDA, net profit margin, return on equity, stock return and stock turnover are used to determine the financial performance of companies. In this study, the weight of criteria is calculated using both subjective LBWA and objective MEREC weighting approaches. After the weight of criteria is determined, the financial performance of companies is ranked using the CRADIS method. The results showed that EBITDA and Stock turnover are the most and least important criteria, respectively. According to results obtained from the CRADIS method, Ereğli Iron-Steel, Enka construction and Ford Otosan have the highest financial performance, while Vestel, Arçelik and Çimsa have the lowest financial performance in the period of 2018 and 2022. Additionally, the robustness and validity of the results are tested by various MCDM methods, namely, ARAS, COPRAS, EDAS, MABAC, MAIRCA, MARCOS, TOPSIS, CoCoSo and MAUT.

 Abstract Financial performance refers to the assessment of a firms capacity to generate profits and manage its financial assets effectively during a specific period of time. This study addresses the evaluation of financial performance of companies in the BIST Sustainability 25 Index using a hybrid MCDM method. For this investigation, nine criteria, namely, acid-test ratio, asset turnover, current ratio, debt ratio, EBITDA, net profit margin, return on equity, stock return and stock turnover are used to determine the financial performance of companies. In this study, the weight of criteria is calculated using both subjective LBWA and objective MEREC weighting approaches. After the weight of criteria is determined, the financial performance of companies is ranked using the CRADIS method. The results showed that EBITDA and Stock turnover are the most and least important criteria, respectively. According to results obtained from the CRADIS method, Ereğli Iron-Steel, Enka construction and Ford Otosan have the highest financial performance, while Vestel, Arçelik and Çimsa have the lowest financial performance in the period of 2018 and 2022. Additionally, the robustness and validity of the results are tested by various MCDM methods, namely, ARAS, COPRAS, EDAS, MABAC, MAIRCA, MARCOS, TOPSIS, CoCoSo and MAUT.

 Abstract Financial performance refers to the assessment of a firms capacity to generate profits and manage its financial assets effectively during a specific period of time. This study addresses the evaluation of financial performance of companies in the BIST Sustainability 25 Index using a hybrid MCDM method. For this investigation, nine criteria, namely, acid-test ratio, asset turnover, current ratio, debt ratio, EBITDA, net profit margin, return on equity, stock return and stock turnover are used to determine the financial performance of companies. In this study, the weight of criteria is calculated using both subjective LBWA and objective MEREC weighting approaches. After the weight of criteria is determined, the financial performance of companies is ranked using the CRADIS method. The results showed that EBITDA and Stock turnover are the most and least important criteria, respectively. According to results obtained from the CRADIS method, Ereğli Iron-Steel, Enka construction and Ford Otosan have the highest financial performance, while Vestel, Arçelik and Çimsa have the lowest financial performance in the period of 2018 and 2022. Additionally, the robustness and validity of the results are tested by various MCDM methods, namely, ARAS, COPRAS, EDAS, MABAC, MAIRCA, MARCOS, TOPSIS, CoCoSo and MAUT.

 Abstract Financial performance refers to the assessment of a firms capacity to generate profits and manage its financial assets effectively during a specific period of time. This study addresses the evaluation of financial performance of companies in the BIST Sustainability 25 Index using a hybrid MCDM method. For this investigation, nine criteria, namely, acid-test ratio, asset turnover, current ratio, debt ratio, EBITDA, net profit margin, return on equity, stock return and stock turnover are used to determine the financial performance of companies. In this study, the weight of criteria is calculated using both subjective LBWA and objective MEREC weighting approaches. After the weight of criteria is determined, the financial performance of companies is ranked using the CRADIS method. The results showed that EBITDA and Stock turnover are the most and least important criteria, respectively. According to results obtained from the CRADIS method, Ereğli Iron-Steel, Enka construction and Ford Otosan have the highest financial performance, while Vestel, Arçelik and Çimsa have the lowest financial performance in the period of 2018 and 2022. Additionally, the robustness and validity of the results are tested by various MCDM methods, namely, ARAS, COPRAS, EDAS, MABAC, MAIRCA, MARCOS, TOPSIS, CoCoSo and MAUT.

Makale detayları

Financial Performance Measurement of Companies in the BIST Sustainability 25 Index with LBWA and MEREC-based CRADIS Methods

Yazarlar: Süreyya Yılmaz Özekenci

Yayıncı: Burdur Mehmet Akif Ersoy University

Ana Başlıklar: Financial Economy

Dergi: Journal of Mehmet Akif Ersoy University Economics and Administrative Sciences Faculty Vol.11 Issue 3, pp.1184-1211

Belge Tipi: Makale

Yayın Tarihi: 9/2024

Belge Dili: İngilizce

Document ID (Org No.): 2001328887

pISSN: 2149-1658

Financial performance

Sustainability

BIST

MCDM

Sayı

Yazarlar:

Süreyya Yılmaz Özekenci

Yayıncı:

Burdur Mehmet Akif Ersoy University

Ana Başlıklar:

Financial Economy

Dergi:

Journal of Mehmet Akif Ersoy University Economics and Administrative Sciences Faculty Vol.11 Issue 3, pp.1184-1211

Belge Tipi:

Makale

Yayın Tarihi:

9/2024

Belge Dili:

İngilizce

Document ID (Org No.):

2001328887

pISSN:

2149-1658