BİST-Çimento Şirketlerinin Finansal Performanslarının TOPSIS ve ELECTRE Yöntemleriyle Analizi

Year 2023, Issue: 78, 491 - 510, 25.10.2023

Tunga Bozdoğan , Alper Odabas , Ömer Orbay Çetin

https://doi.org/10.51290/dpusbe.1368085

Cited By: 1

Abstract

Bu çalışma kapsamında BİST’te işlem gören çimento sektöründeki şirketlerin finansal performansı farklı iki yöntemin uygulanmasıyla ölçülmüştür. Analizde kullanılan finansal oranları belirlemek için kapsamlı bir literatür analizi yapılmış ve literatürde sıklıkla kullanılan finansal oranlar belirlenmiştir. 2013-2022 dönemine ait finansal verilerine ulaşılabilen 15 şirket araştırmaya dahil edilmiş ve finansal performanslarının ölçümünde verilerin analizi için çok kriterli karar verme yöntemlerinden CRITIC temelli TOPSIS ve ELECTRE yöntemleri kullanılmıştır. Analiz sonucunda 15 şirket için iyi, orta ve kötü olmak üzere üç ayrı başarı grubu belirlenmiştir. Analizden elde edilen bulgulara göre her iki yönteme göre de OYAK, NUHCM ve KONYA şirketleri en başarılı finansal performansa sahip şirketler olurken, BTCIM şirketi ise en başarısız şirket olmuştur. Özellikle ülkemizde yaşanan deprem felaketinden sonra öneminin iyice artması beklenen çimento sektörünün, gelecekte farklı veri dönemleri ve farklı yöntemlerle sürekli olarak analiz edilmesi gerektiği ve sektöre ilişkin iyileştirici yeniliklerin sağlanması önerisinde bulunulmuştur.

Keywords

Finansal performans, çimento sektörü, finansal tablolar analizi, TOPSIS, ELECTRE

Financial Performance of BIST-Cement Companies Analysis by TOPSIS and ELECTRE Methods

Abstract

In the scope of this study, the financial performance of companies in the cement sector listed on BIST (Borsa Istanbul) has been measured using two different methods. A comprehensive literature review was conducted to determine the financial ratios used in the analysis, and commonly used financial ratios in the literature were identified. The research included fifteen companies for which financial data spanning the period from 2013 to 2022 was available, and the CRITIC-based TOPSIS and ELECTRE methods, which are multi-criteria decision-making methods, were used for data analysis to measure their financial performance. As a result of the analysis, three separate performance groups were identified for the 15 companies: good, moderate, and poor. According to the findings of the analysis, in both methods, OYAK, NUHCM, and KONYA companies were the most successful in terms of financial performance, while BTCIM company was the least successful. It is recommended that the cement sector, which is expected to become even more important after the earthquake disaster in our country, should be continuously analyzed in the future with different data periods and different methods, and suggestions have been made for implementing corrective innovations in the sector.

Keywords

Financial performance, cement industry, financial statement analysis, TOPSIS, ELECTRE

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