Toptan ticaret şirketlerinin finansal performanslarına göre önceliklendirilmesi: Çok kriterli karar analizi (ÇKKA) yaklaşımı

Yıl 2023, Cilt: 5 Sayı: Özel Sayı, 1 - 14, 17.12.2023

Orhan Emre Elma

Öz

Finansal piyasalar ülkelerin gelişmişliklerini gösteren önemli indikatörler arasında sayılmaktadır. Bu piyasalarda işlem gören hisse senetleri, birçok finansal paydaşın ilgisini çekmektedir. Öte yandan, tıpkı birçok alanda olduğu gibi, sermaye piyasalarında da salgının getirdiği belirsizlik etkisini göstermiştir. Birçok değişkenin devreye girdiği karmaşık senaryolarda, doğru çıkarımlar yapabilmek adına çoklu kriterli karar verme analizleri (ÇKKA) kullanılmaktadır. Türkiye'nin son yıllarda yakaladığı büyüme hızı ve ihracat seviyesine katkıda bulunan toptan ticaret sektöründe faaliyet gösteren ve Borsa Istanbul'da işlem gören firmalar, bu çalışmada ÇKKA yöntemleri aracılığıyla analiz edilmiştir. İlgili şirketler, pandeminin en yoğun hissedildiği 8 dönem için TOPSIS VE ELECTRE III yöntemleri ile incelenmişlerdir. Belirlenen 6 farklı kriterin CRITIC ile ağırlıklandırıldığı çalışmada, şirketler ilgili yöntemlerin ürettiği skorlara göre sıralanmışlardır. Dikkat çekici olarak, her iki yöntem de incelenen 8 dönemin 6'sı için aynı şirketleri en yüksek performans gösteren alternatif olarak belirlemiştir. İncelenen iki yöntemin de tutarlı sonuçlar üretmesi nedeniyle bu yöntemler, belirsizlik sürecinde finansal karar vericilerin birlikte kullanabileceği bir karar destek sistemi olarak önerilmişlerdir.

Anahtar Kelimeler

Sermaye Piyasaları, Finansal Performans, ÇKKA

Prioritizing wholesale companies based on their financial performance: A multi-criteria decision analysis (MCDA) approach

Öz

Financial markets are considered among the vital indicators that can signalize the development of countries. Shares traded in these markets attract the attention of various financial stakeholders. On the other hand, capital markets, as in many other fields, have been affected by the uncertainty brought by the pandemic. In complex scenarios where many variables come into play, multi-criteria decision-making analyzes (MCDA) are used to make accurate inferences. Companies operating in the wholesale sector and traded on Borsa Istanbul, which contribute to the growth rate and export level that Türkiye has achieved in recent years, were analyzed through MCDA methods in this study. Relevant companies were examined with TOPSIS and ELECTRE III methods for 8 periods when the pandemic was felt most intensely. In the study, where 6 different criteria were weighted with CRITIC, companies were ranked according to the scores produced by the aforementioned methods. Notably, both methods identified the same companies as the top-performing alternative for 6 of the 8 periods examined. Since both methods examined produce consistent results, these methods are recommended as a decision support system that financial decision makers can use together in the periods of uncertainty.

Anahtar Kelimeler

Capital Markets, Financial Performance, MCDA

Kaynakça

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