Year 2019, Volume 27 , Issue 42, Pages 107 - 128 2019-10-31

Determination of the Efficiencies of Textile Firms Listed in Borsa İstanbul by Using DEA-Window Analysis
VZA-Pencere Analizi ile Borsa İstanbul’da Hisse Senetleri İşlem Gören Tekstil Firmalarının Etkinliklerinin Belirlenmesi

Mehmet APAN [1] , İhsan ALP [2] , Ahmet ÖZTEL [3]


Global competition enables countries’ advantageous sectors to stand out as an indicator of their economic power. The importance of these sectors may vary by country or the time period they operate in. The textile industry is one of the sectors that significantly contributes to Turkey’s economic growth. Thus, it is important to monitor the financial activities of the firms in the textile sector as a performance indicator since it is evident that the financial efficiency of each company will contribute positively to the overall efficiency of the whole sector. In this study, the financial activities of 19 firms in the textile sector being traded on Borsa Istanbul (BIST) for the period 2008-2017 are examined. For efficiency analysis, DEA (Data Envelopment Analysis) -Window Analysis method was applied by using financial indicators of these companies. It was observed that the highest average efficiency value of the companies was realized in 2017 with 94.09%. The average activity levels in other years were found to be in the range of 60%-90%. In the empirical analysis, the efficiency values of the top five companies were determined to be at the level of 90%-100%. DESA has achieved the most successful performance in average efficiencies with a score of 98.04 when the whole period is considered. SÖNMEZ and MENDERES firms have taken the second and the third places with scores of 97.40 and 94.74, respectively. The close performances of the top three firms were also observed in three-years windows. However, in the three-year window analysis, SÖNMEZ ranked the first, DESA ranked the second and MENDERES ranked the third according to their average scores. One of the reasons for this small difference between the rankings is that, firstly, the firms’ performances have been very close to each other, and secondly the effect of the low score (76.11) obtained by SÖNMEZ in 2008 has been diminished for the firm in the three-year window analysis. KARSU occupied the last place with the lowest average efficiency score in both rankings.
Küresel rekabet ile ülkelerin ekonomik güçlerinin bir göstergesi olarak üstün oldukları sektörler öne çıkmaktadır. Bu sektörlerin önemi ülkeden ülkeye veya dönemsel olarak değişebilmektedir. Tekstil sektörü, Türkiye’nin ekonomik büyümesine önemli katkı sağlayan sektörlerden biridir. Tekstil sektöründeki firmaların finansal etkinliklerinin performans göstergesi olarak takip edilmesi önemlidir. Her bir firmanın finansal etkinliğinin, sektörün toplam etkinliğine olumlu katkı sağlayacağı aşikârdır. Bu çalışmada, Borsa İstanbul’da (BİST) hisse senetleri işlem gören tekstil sektöründeki 19 firmanın 2008-2017 dönemi için finansal etkinlikleri incelenmiştir. Etkinlik analizi için firmaların finansal göstergelerine göre VZA (Veri Zarflama Analizi)-Pencere Analizi yöntemi uygulanmıştır. Firmaların en yüksek ortalama etkinlik değerinin %94,09 ile 2017 yılında gerçekleştiği görülmüştür. Diğer yıllardaki ortalama etkinlik düzeylerinin %60-%90 aralığında bulunduğu tespit edilmiştir. Ampirik analizlerde ilk 5 firmanın etkinlik değerlerinin %90-%100 aralığında olduğu belirlenmiştir. Yıllık etkinlik skor ortalamalarında, DESA 98.04 skoruyla en başarılı performansı elde etmiştir. Sırasıyla SÖNMEZ 97.40 ve MENDERES 94.74 ile ilk üç sırayı oluşturmuşlardır. İlk üç sıradaki firmaların birbirlerine yakın performansları üçer yıllık pencerelerde de gözlenmiştir. Fakat ortalama skorlarda, üçer yıllık pencere analizinde SÖNMEZ ilk sırada yer alırken, DESA ikinci ve MENDERES ise üçüncü olmuştur. Sıralamalar arasındaki bu küçük farklı lığın sebeplerinden ilki performansların çok yakın seyretmesi, ikincisi ise 2008 yılında SÖNMEZ firmasının elde ettiği düşük puanın (76.11) etkisinin, üç yıllık pencere analizinde azalmış olmasıdır. KARSU ise her iki sıralamada da en düşük ortalama etkinlik skoru ile son sırada yer almıştır.
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Primary Language en
Subjects Social
Journal Section Articles
Authors

Orcid: 0000-0001-9471-4810
Author: Mehmet APAN (Primary Author)
Institution: KARABÜK ÜNİVERSİTESİ, İŞLETME FAKÜLTESİ
Country: Turkey


Orcid: 0000-0002-6306-5114
Author: İhsan ALP
Institution: GAZİ ÜNİVERSİTESİ, FEN FAKÜLTESİ
Country: Turkey


Orcid: 0000-0002-9627-7850
Author: Ahmet ÖZTEL
Institution: BARTIN ÜNİVERSİTESİ, İKTİSADİ VE İDARİ BİLİMLER FAKÜLTESİ
Country: Turkey


Dates

Publication Date : October 31, 2019

Bibtex @research article { sosyoekonomi448443, journal = {Sosyoekonomi}, issn = {1305-5577}, address = {}, publisher = {Sosyoekonomi Society}, year = {2019}, volume = {27}, pages = {107 - 128}, doi = {10.17233/sosyoekonomi.2019.04.06}, title = {Determination of the Efficiencies of Textile Firms Listed in Borsa İstanbul by Using DEA-Window Analysis}, key = {cite}, author = {APAN, Mehmet and ALP, İhsan and ÖZTEL, Ahmet} }
APA APAN, M , ALP, İ , ÖZTEL, A . (2019). Determination of the Efficiencies of Textile Firms Listed in Borsa İstanbul by Using DEA-Window Analysis. Sosyoekonomi , 27 (42) , 107-128 . DOI: 10.17233/sosyoekonomi.2019.04.06
MLA APAN, M , ALP, İ , ÖZTEL, A . "Determination of the Efficiencies of Textile Firms Listed in Borsa İstanbul by Using DEA-Window Analysis". Sosyoekonomi 27 (2019 ): 107-128 <https://dergipark.org.tr/en/pub/sosyoekonomi/issue/49534/448443>
Chicago APAN, M , ALP, İ , ÖZTEL, A . "Determination of the Efficiencies of Textile Firms Listed in Borsa İstanbul by Using DEA-Window Analysis". Sosyoekonomi 27 (2019 ): 107-128
RIS TY - JOUR T1 - Determination of the Efficiencies of Textile Firms Listed in Borsa İstanbul by Using DEA-Window Analysis AU - Mehmet APAN , İhsan ALP , Ahmet ÖZTEL Y1 - 2019 PY - 2019 N1 - doi: 10.17233/sosyoekonomi.2019.04.06 DO - 10.17233/sosyoekonomi.2019.04.06 T2 - Sosyoekonomi JF - Journal JO - JOR SP - 107 EP - 128 VL - 27 IS - 42 SN - 1305-5577- M3 - doi: 10.17233/sosyoekonomi.2019.04.06 UR - https://doi.org/10.17233/sosyoekonomi.2019.04.06 Y2 - 2019 ER -
EndNote %0 Sosyoekonomi Determination of the Efficiencies of Textile Firms Listed in Borsa İstanbul by Using DEA-Window Analysis %A Mehmet APAN , İhsan ALP , Ahmet ÖZTEL %T Determination of the Efficiencies of Textile Firms Listed in Borsa İstanbul by Using DEA-Window Analysis %D 2019 %J Sosyoekonomi %P 1305-5577- %V 27 %N 42 %R doi: 10.17233/sosyoekonomi.2019.04.06 %U 10.17233/sosyoekonomi.2019.04.06
ISNAD APAN, Mehmet , ALP, İhsan , ÖZTEL, Ahmet . "Determination of the Efficiencies of Textile Firms Listed in Borsa İstanbul by Using DEA-Window Analysis". Sosyoekonomi 27 / 42 (October 2019): 107-128 . https://doi.org/10.17233/sosyoekonomi.2019.04.06
AMA APAN M , ALP İ , ÖZTEL A . Determination of the Efficiencies of Textile Firms Listed in Borsa İstanbul by Using DEA-Window Analysis. Sosyoekonomi. 2019; 27(42): 107-128.
Vancouver APAN M , ALP İ , ÖZTEL A . Determination of the Efficiencies of Textile Firms Listed in Borsa İstanbul by Using DEA-Window Analysis. Sosyoekonomi. 2019; 27(42): 128-107.