FINANCIAL BENCHMARKING OF ENERGY COMPANIES IN THE BORSA ISTANBUL

Authors : Melek AKSU, Ebru GEÇER

Pages : 322-334

Doi:10.29106/fesa.1196797

View : 141 | Download : 104

Publication Date : 2023-06-30

Article Type : Research Paper

Abstract :The purpose of this paper is to evaluate the financial performance of the sixteen energy companies listed in Borsa Istanbul in terms of cash sufficiency and cash efficiency and benchmark them in 2020 and 2021; during the COVID-19 period by using multi-criteria decision making methods. This paper utilizes the Method Based on the Removal Effects of Criteria insert ignore into journalissuearticles values(MEREC); technique to determine the objective weights of cash ratios. Energy companies’ ranking is estimated using the Grey Relational Analysis insert ignore into journalissuearticles values(GRA); approach. In the case of the financial performance evaluation problem, 7 performance attributes and 16 alternative layouts were considered. The results show that most of the energy companies have weak financial performance in 2020 and then improve their financial performance in 2021.
Keywords : Finansal Performans Kıyaslama, Performans Değerlendirme, Finansal Oran, Çok Kriterli Karar Verme, Gri İlişkisel Analiz