PORTFÖY ÇEŞİTLENDİRME KARARI İÇİN BİTCOİN BİR ALTERNATİF OLABİLİR Mİ? MEREC TABANLI VIKOR YAKLAŞIMI

Year 2022, Volume: 13 Issue: 2, 526 - 545, 31.12.2022

Üzeyir Fidan

https://doi.org/10.54688/ayd.1182620

Cited By: 1

Abstract

Yatırım, tasarruf sahiplerinin finansal sürdürülebilirliğin güvence altına alınmasını sağlayan önemli bir araçtır. Bu nedenle yatırım kararlarının belirlenmesi ve portföy oluşturma süreçleri güncelliğini yitirmeyen bir araştırma konusu olagelmiştir. Bu çalışmada son yıllarda çok sayıda tartışmaya konu olan Bitcoin’in portföyler için doğru bir alternatif olup olmadığı tartışılmaktadır. Portföyler oluşturulurken çeşitliliği artırmak için Dolar, Euro, Bitcoin, Bist100 ve Altın alternatif yatırım araçları ele alınmıştır. Portföyler eşit oranlı bir dağılıma sahip olacak şekilde beş yatırım aracının olası tüm kombinasyonlarından oluşturulmuştur. Yatırım kararı, çok kriterli karar verme problemi olarak ele alınmış ve değerlendirme için yıllık getiri göstergesi, yıllık değişim oranı ve varyans katsayısı olacak şekilde üç kriter belirlenmiştir. Kriterlerin ağırlıkları nesnel bir yaklaşım olan MEREC yöntemiyle hesaplanmış ve alternatif seçimi VIKOR yöntemiyle gerçekleştirilmiştir. Çalışmada, Bitcoin’in portföy çeşitlendirmek için uygun bir alternatif olduğu sonucuna ulaşılmıştır.

Keywords

Karar verme, Yatırım kararı, ÇKKV, MEREC, VIKOR

CAN BITCOIN BE AN ALTERNATIVE TO THE PORTFOLIO DIVERSIFICATION DECISION? MEREC-BASED VIKOR APPROACH

Abstract

Investment is an important tool that ensures the financial sustainability of savers. For this reason, the determination of investment decisions and portfolio creation processes have become a current research topic. This study discusses whether Bitcoin, which has been the subject of many discussions in recent years, is the right alternative for portfolios. While creating the portfolio, it was thought that alternative investment instruments such as Dollar, Euro, Bitcoin, Bist100, and Gold would increase the diversity. Portfolios are created from all possible combinations of the five investment instruments in an even distribution. The investment decision is considered a multi-criteria decision-making problem and three criteria have been determined for evaluation, namely the annual return indicator, the annual rate of change, and the coefficient of variance. The weights of the criteria were calculated with the MEREC method, which is an objective approach, and the alternative selection was made with the VIKOR method. In the study, it was concluded that Bitcoin is a suitable alternative for portfolio diversification.

Keywords

Decision making, Investment decision, MCDM, MEREC, VIKOR

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