In this study, the cash flow-oriented financial performances of the companies traded on the Borsa İstanbul (BIST) Forest Paper Printing Index were analyzed comparatively using the Integrated Entropy-EDAS method. The methods used in the analysis are preferred because they are objective methods that do not require decision-makers or expert opinion. Within the scope of the study, 15 firms in the index were considered and data from the 2011-2018 period were used to determine their financial performances. In the study, 12 financial ratios (criteria), which are widely used in cash flow-oriented financial performance analysis, were selected in the literature and these criteria were calculated with the help of balance sheet, income statement, and cash flow statements. First, the weights of the criteria were determined by the Entropy method and then the performances of the companies were ranked by the EDAS method. According to the averages of Entropy weights in the period of 2011-2018, “Cash Flows from Operating Activities / Fixed Assets” rate has been the highest criterion for importance. According to the performance rankings made with the EDAS method; Apart from 2015, KARTN has been the most successful company in the ranking averages in all years with its high performance in other years. While GENTS was the second company, SAMAT and HURGZ took the last places in the ranking.
|Journal Section||Wood Machinary, Occupational Safety and Health, Business Administration|
Publication Date : April 15, 2020
|APA||Apan, M , Öztel, A . (2020). Bütünleşik Entropi-EDAS Yöntemi ile Nakit Akım Odaklı Finansal Performans Analizi: BIST Orman, Kâğıt, Basım Endeksi’nde İşlem Gören Firmaların 2011-2018 Dönem Verisinden Kanıtlar . Bartın Orman Fakültesi Dergisi , 22 (1) , 170-184 . DOI: 10.24011/barofd.694820|