BWM Tabanlı MARCOS Yöntemi ile Sermaye Piyasalarında Aracı Kurum Seçimi Üzerine Bir Çalışma

Öz

ÖZ Sermaye piyasalarında yatırımcıların karşılaştığı en önemli kararlardan biri, işlem yapacakları aracı kurumun seçimidir. Özellikle yeni başlayan yatırımcılar için, maliyetler, hizmet kalitesi ve platform kullanım kolaylığı gibi çok sayıda kriterin değerlendirilmesi büyük önem taşımaktadır. Bu çalışmada, yeni yatırımcı profiline uygun en uygun aracı kurumun belirlenmesi amacıyla Çok Kriterli Karar Verme (ÇKKV) yöntemlerinden BWM (Best-Worst Method) ve MARCOS (Measurement Alternatives and Ranking according to Compromise Solution) yöntemleri kullanılmıştır. Öncelikle üç farklı yatırımcı profili üzerinden kriterler değerlendirilmiş ve kriter ağırlıkları BWM yöntemi ile belirlenmiştir. Ardından, beş farklı aracı kurumun performansları oluşturulan kriter setine göre MARCOS yöntemi ile analiz edilmiştir. Analiz sonuçlarına göre birinci aracı kurumun en yüksek uygunluk katsayısına (K₀) ulaşarak yeni başlayan yatırımcılar için en uygun aracı kurum olarak belirlenmiştir. Bu çalışma, BWM ve MARCOS yöntemlerinin birlikte kullanılmasının sermaye piyasalarında karar destek süreçlerine nasıl katkı sağlayabileceğini göstermesi açısından literatüre özgün bir katkı sunmaktadır. Ayrıca, yeni yatırımcılar için karar verme sürecini sistematik hale getiren bir yöntem önerisi ortaya koymaktadır. Anahtar kelimeler: Çok Kriterli Karar Verme, Sermaye Piyasaları, MARCOS Yöntemi, BWM Yöntemi JEL Sınıflandırması: M31

Anahtar Kelimeler

• Çok Kriterli Karar Verme
• Sermaye Piyasaları
• MARCOS Yöntemi
• BWM Yöntemi

A Study on Brokerage Firm Selection in Capital Markets Using The BWM-Based MARCOS Method

Öz

One of the most critical decisions investors faces in capital markets is selecting the brokerage firm through which they will conduct their transactions. Especially for beginner investors, evaluating multiple criteria such as costs, service quality, and platform usability is of great importance. In this study, the Best-Worst Method (BWM) and the Measurement Alternatives and Ranking according to Compromise Solution (MARCOS) method, both of which are Multi-Criteria Decision-Making (MCDM) techniques, were employed to determine the most suitable brokerage firm for the new investor profile. Firstly, criteria were evaluated based on three different investor profiles, and criterion weights were determined using the BWM method. Subsequently, the performances of five brokerage firms were analyzed according to the established criteria set using the MARCOS method. According to the results of the analysis, Alternative One achieved the highest suitability coefficient (K₀) and was identified as the most appropriate brokerage firm for beginner investors. This study offers an original contribution to the literature by demonstrating how the combined use of the BWM and MARCOS methods can enhance decision-support processes in capital markets. Additionally, it proposes a systematic approach for facilitating the decision-making process for beginner investors. Keywords: Multi-Criteria Decision-Making, Capital Markets, MARCOS Method, BWM Method JEL Classification: M10, D70, D81

Anahtar Kelimeler

• Multi-Criteria Decision-Making
• Capital Markets
• MARCOS Method
• BWM Method

Kaynakça

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