EVALUATION OF TURKISH FACTORING COMPANY PERFORMANCES USING TOPSIS METHOD

Yıl 2022, Cilt: 20 Sayı: 43, 29 - 47, 31.01.2022

Alper Ova

https://doi.org/10.35408/comuybd.836726

Öz

Most of the studies aiming to measure the financial performance of financial sector have handled banks,
insurance companies, and pension companies. Factoring industry has been mostly neglected, although
this industry is in an ascending trend in the World. The aim of this study is to evaluate the financial
performance of Turkish factoring companies for the years between 2017 and 2019. This study also aims
to be the first study, which examines all companies in the Turkish factoring industry, and to give an idea
about sizes of those companies. For this purpose, TOPSIS method was implemented using equally
weighted six criteria. The number of small companies in the best performing ten factoring companies
was seven, five and six in 2019, 2018 and 2017 respectively. If the big and small companies are examined
separately, it was observed that the number of companies owned by banks is increasing in the best
performing ten big factoring companies. Since the number of factoring companies owned by banks is
increasing in the best performing ten big factoring companies, small factoring companies should find
ways to cooperate with banks if they desire to increase their size of operations.

Anahtar Kelimeler

Factoring, Financial Performance, Ratio Analysis, TOPSIS Method, Size

Evaluation of Turkish Factoring Company Performances Using TOPSIS Method

Öz

Most of the studies aiming to measure the financial performance of financial sector have handled banks, insurance companies, and pension companies. Factoring industry has been mostly neglected, although this industry is in an ascending trend in the World. The aim of this study is to evaluate the financial performance of Turkish factoring companies for the years between 2017 and 2019. This study also aims to be the first study, which examines all companies in the Turkish factoring industry, and to give an idea about sizes of those companies. For this purpose, TOPSIS method was implemented using equally weighted six criteria. The number of small companies in the best performing ten factoring companies was seven, five and six in 2019, 2018 and 2017 respectively. If the big and small companies are examined separately, it was observed that the number of companies owned by banks is increasing in the best performing ten big factoring companies. Since the number of factoring companies owned by banks is increasing in the best performing ten big factoring companies, small factoring companies should find ways to cooperate with banks if they desire to increase their size of operations.

Anahtar Kelimeler

Factoring, Financial Performance, Ratio Analysis, TOPSIS Method, Size

Kaynakça

• Akyüz, Y. and Kaya Z (2013). Türkiye'de Hayat Dışı ve Hayat/Emeklilik Sigorta Sektörünün Finansal Performans Analiz ve Değerlendirilmesi. Selçuk Üniversitesi İktisadi ve İdari Bilimler Fakültesi Sosyal ve Ekonomik Araştırmalar Dergisi, Cilt.13 Sayı: 26, 355-371
• Alsu, E., Taşdemir, A. and Kallo Z. (2018). Katılım Bankalarının Performanslarının Değerlendirilmesi: TOPSIS Yöntemi ile Uluslararası Karşılaştırma. Gaziantep Üniversitesi Sosyal Bilimler Dergisi, Cilt.17 Sayı:1, 303-316, https://doi.org/10.21547/jss.342372
• Banking Regulation and Supervision Agency (BRSA) (2018). Annual Report
• Demireli, E. (2010). TOPSIS Çok Kriterli Karar Verme Sistemi: Türkiye’deki Kamu Bankaları Üzerine bir Uygulama. Girişimcilik ve Kalkınma Dergisi, Cilt.5 Sayı:1, 101-112
• Dursun, G.D. and Bozkır, B. (2018). Türkiye’de Faaliyet Gösteren Ticari Bankaların Aktif Kalitesinin TOPSIS Yöntemi ile Ölçümü. Ekonomi, Politika & Finans Araştırmaları Dergisi, Cilt.3 Sayı: 3, 243- 258, https://doi.org/10.30784/epfad.422500
• Guo, Z. (2020). Evaluation of financial ability of port listed companies based on entropy weight TOPSIS model. In: Yang, Y.; Mi, C.; Zhao, L., and Lam, S. (eds.), Global Topics and New Trends in Coastal Research: Port, Coastal and Ocean Engineering. Journal of Coastal Research, Special Issue No. 103, pp.182–185. Coconut Creek (Florida), ISSN 0749-0208.
• https://www.fkb.org.tr/Sites/1/upload/files/dunya-faktoring-ciro-gelisimi-1930.pdf (Accessed 12 June 2021)
• https://www.fkb.org.tr (Accessed 12 June.2021)
• Hwang, C. and Yoon, K. (1981). Multiple Attribute Decision Making: Methods and applications. Springer- Verlag
• Oral, C. (2016). Evaluating the Financial Performances of Privately Owned Deposit Banks in Turkey by TOPSIS Method. Journal of Business Research - Turk, Vol.8 Issue: 1, 448-455, DOI: 10.20491/isader.2016.153
• Özkan, G. (2017). Türkiye’de Halka Açık Özel Sermayeli Ve Kamu Sermayeli Ticaret Bankaları’nın Performansları’nın Topsis (TOPSIS) Yöntemi İle Analizi. Alanya Akademik Bakış Dergisi, Cilt.1 Sayı: 1, 47-59, https://doi.org/10.29023/alanyaakademik.310146
• Özçelik, H. and Küçükçakal, Z. (2019). BIST’de İşlem Gören Finansal Kiralama ve Faktoring Şirketlerinin Finansal Performanslarının TOPSIS Yöntemi İle Analizi. Muhasebe ve Finansman Dergisi, Sayı:81, 249-270, https://doi.org/10.25095/mufad.510675
• Roy, S. and Das, A. (2018). Application of TOPSIS Method for Financial Performance Evaluation: A Study of Selected Scheduled Banks in Bangladesh. Journal of Commerce and Accounting Research, Volume 7 Issue 1, 24-29
• Sari, T. and Kayral, I.E. (2019). Applying a Two -Stage TOPSIS Approach and Stepwise Regression in Evaluating Bank Performance: Evidence from Turkish Banks. Banks and Bank Systems, Vol.14 Issue: 4, 114-125, doi: http://dx.doi.org/10.21511/bbs.14(4).2019.11
• Selimler H. and Taş, C. (2019). Finansman, Faktoring ve Leasing Şirketlerinin Kredi Yönetim Performansının TOPSIS Yöntemi İle Değerlendirilmesi: (2015 – 2018). Finans Ekonomi ve Sosyal Araştırmalar Dergisi, Cilt.4 Sayı.3, 286-306
• Şahin, O. and Başarır, Ç. (2019). Bireysel Emeklilik Şirketlerinin Finansal Performanslarının Değerlendirilmesi: Türkiye Örneği. Yönetim Bilimleri Dergisi, Cilt.17 Sayı: 33, 211-229, https://doi.org/10.35408/comuybd.479504
• Wang, W. (2017). On fuzzy TOPSIS method based on alpha level sets. Journal of Intelligent & Fuzzy Systems Vol.33 No.6, 4067-4076, DOI: 10.3233/JIFS-17983
• Yamaltdinova, A. (2017). Kirgizistan Bankalarının Finansal Performanslarının Topsis Yöntemiyle Değerlendirilmesi. International Review of Economics and Management, Vol.5 No.2, 68-87, https://doi.org/10.18825/iremjournal.316694