Financial Performance Evaluation of Food and Drink Index Using Fuzzy MCDM Approach

Year 2020, Volume: 6 Issue: 1, 1 - 19, 25.03.2019

Eyad Aldalou , Selçuk Perçin

https://doi.org/10.20979/ueyd.650422

Cited By: 6

Abstract

Performance
evaluation presents a very complex field involving different criteria and
contradicted information. Though, there is an insisting need to a reliable and
consistent approach where the application procedures are not complicated. In
this study, a fuzzy MCDM approach is developed to evaluate the financial
performance of companies listed in food and drink index of Istanbul Stock
Exchange. Financial ratios were identified to create a base for financial
performance evaluation in the areas of: profitability, efficiency, growth,
liquidity, leverage and market ratios. Weight coefficients were obtained by the
objective method of FSE. Evaluation and ranking were made on the base of the
new method of FEDAS. In order to test the reliability of the approach a
sensitivity analysis is conducted based on CRITIC weighting method. Comparison
with FTOPSIS, FVIKOR, FCOPRAS, FMOORA and FSAW methods and spearman correlation
are conducted to test validity of the proposed approach. The proposed approach is
reliable and provides the most suitable result comparing with other MCDM
methods, and has a strong positive correlation with average results.

Keywords

Fuzzy EDAS, Financial Performance Evaluation, Food and Drink Index

Financial Performance Evaluation of Food and Drink Index Using Fuzzy MCDM Approach

Abstract

Performans değerlendirmesi, farklı kriterler ve
çelişkili veriler içeren çok karmaşık bir çalışma alanıdır. Daha kaliteli bir
sonuca ulaşmak için araştırmacılar var olan bütün verilere dayanarak en uygun
yöntemleri kullanmaya çalışmışlardır. Bu çalışmada, ÇKKV yöntemlerine dayanan
bir finansal performans değerlendirme modeli önerilmektedir.  Önerilen bu modeli Gıda ve İçecek İndeksinde
yer alan firmaların finansal performansını değerlendirmek için uygulanmıştır.
Çalışmada, karlılık, verimlilik, büyüme, likidite, kaldıraç ve piyasa oranları
kullanılmıştır. Kriterleri ağırlıklandırmak amacıyla FSE, alternatifleri
sıralamak amacıyla ise FEDAS yöntemleri kullanılmıştır. Çalışmada önerilen
yaklaşımın güvenilirliğini test etmek için CRITIC ağırlıklandırma yöntemine
dayalı bir duyarlılık analizi yapılmıştır. Ayrıca, yaklaşımın geçerliliğini
test etmek için FTOPSIS, FVIKOR, FCOPRAS, FMOORA ve FSAW yöntemleriyle
karşılaştırmalar yapılmıştır. Çalışma sonucunda önerilen modelin güvenilir
olduğu tespit edilmiş olup diğer ÇKKV yöntemleriyle karşılaştırıldığında en
uygun sonucu sağladığı görülmüştür.

Keywords

Bulanık EDAS, Finansal Performans Değerlendirme, Gıda ve İçecek İndeksi

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