Evaluation of financial performance of paper companies traded at BIST with TOPSIS method

Year 2018, Volume: 18 Issue: 1, 92 - 98, 23.03.2018

Tutku Üçüncü , Kadri Cemil Akyüz , İlker Akyüz , Bahadır Çağrı Bayram , Nadir Ersen

https://doi.org/10.17475/kastorman.331279

Cited By: 13

Abstract

Aim of study: It was aimed to rank financial performance of companies in the paper industry
traded at BIST.

Material and methods: The financial performances of seven
companies in the paper industry which are traded
on the Borsa İstanbul (BIST) were determined
by using financial data in 2016. For this purpose, ten financial ratios were obtained
from the financial data of companies, each of which had its own superiority. The data
were conducted by the TOPSIS (Technique for Order Preference by Similarity to
Ideal Solution) method which is the "Multi Criteria Decision Making"
(MCDM) method to interpret.

Main results: The results indicated that the companies were ranked
follows; ALKA, KARTN, VKING, BAKAB, TIRE, OLMIP and KAPLM based on the
financial performance scores.

Research highlights: In Turkey, production in paper industry meets nearly half of the consumption and paper demand are met by imports.
The high prices of energy and initial investment costs encourage imports of
paper products and they prevent new
investments. From this perspective, growth, development and high performance of
paper companies will keep this industry alive.

Keywords

Performance Analysis, TOPSIS Method, Paper Industry

BİST’de işlem gören kağıt sektöründeki firmaların TOPSIS yöntemiyle finansal performanslarının değerlendirilmesi

Abstract

BİST’de
işlem gören kağıt sektöründeki firmaların TOPSIS yöntemiyle finansal
performanslarının değerlendirilmesi

Özet

Çalışmanın amacı: BİST’de işlem gören kağıt
sektöründeki firmaların finansal performanslarına göre sıralanması
amaçlanmıştır.

Materyal ve yöntem: Borsa İstanbul’da (BIST) işlem
gören kağıt sektöründeki 7 firmanın 2016 yılına ait verileri kullanılarak
finansal performansları belirlenmeye çalışılmıştır. Bu amaçla, şirketlere ait
finansal verilerden 10 finansal oran elde edilmiştir ve bu finansal oranların
her biri diğerlerine göre üstünlüğe sahiptir. Bütünleşik bir değerlendirme
yapılması amacıyla, veriler “Çok Kriterli Karar Verme” (ÇKKV) yöntemlerinden
olan TOPSIS (Technique for Order Preference by Similarity to Ideal Solution)
yöntemi ile değerlendirilmiştir.

Sonuçlar: Şirketler finansal performanslarına göre
ALKA, KARTN, VKING, BAKAB, TIRE, OLMIP ve KAPLM olarak sıralanmıştır..

Araştırma vurguları: Ülkemiz kağıt sektöründe
gerçekleştirilen üretim ile tüketimin yarısı karşılanabilmekte ve kağıt
ihtiyacı ithalatla karşılanmaktadır. Enerji fiyatlarının ve ilk yatırım
maliyetlerinin yüksek olması yeni yatırımları engellerken ithalata teşvik
etmektedir. Bu bakımdan sektörde var olan firmaların gelişmesi, büyümesi ve
performanslarının yüksek olması sektörü canlı tutacaktır.

Keywords

Performans Analizi, TOPSIS metodu, Kağıt Sektörü

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