KURUMSAL FİRMALAR İÇİN BİR FİNANSAL PERFORMANS KARŞILAŞTIRMA MODELİNİN GELİŞTİRİLMESİ

Bu çalışmada Türkiye ekonomisindeki 24 sektördeki kurumsal firmaların sıralanmasına yönelik bir finansal performans değerlendirme modeli geliştirilmiştir.Geliştirilen model finansal oranlar ve İdeal Çözümlere Yakınlık Yoluyla Tercihlerin Sıralanması Tekniği (Technique for Order Preference by Similiarity to Ideal Solution-TOPSIS) yöntemi üzerine kurulmuştur.Model, aynı sektöre aitkurumsal firmaların rakiplerine göre derecelendirme puanlarını sunmaktadır. Geliştirilen model Visual Basic programıyla kodlanmış ve gerçek hayat çalışmalarıyla test edilmiştir. TOPSIS, Çok Kriterli Eniyileme ve Uzlaşık Çözüm (Vise Kriterijumska Optimizacija I Kompromisno Resenje-VIKOR), Gri İlişkisel Analiz (Grey Relational Grade-GRA) ve Oran Analizi Temelli Çok Amaçlı Eniyileme (Multi-Objective Optimization on the basis of Ratio Analysis-MOORA) yöntemlerinden elde edilen finansal performans değerlendirme sıralamaları Spearman’ın Sıra İlişkisi Testi kullanılarak karşılaştırılmıştır. Test sonuçlarına göre finansal performans değerlendirme modeli için en uygun sıralama yönteminin TOPSIS yöntemi olduğu bulunmuştur. Makalede modelin çalışmasını gösteren bir uygulamaya da ayrıca yer verilmiştir.

___

  • Akgüç, Ö., Kredi Taleplerinin Değerlendirilmesi, Avcıol Basın-Yayın, 5.baskı, İstanbul, 1991.
  • Altman, E.I., Haldeman, R.G., ve Narayanan, P., “Zetaanalysis: A new model toidentifybankruptcy risk of corporations”, Journal of Bankingand Finance, Cilt 1, 29–54, 1977.
  • Dagdeviren, M., Eraslan, E., “Prioritydetermination in strategicenergypolicies in Turkeyusinganalytic network process (ANP) withgroupdecisionmaking”, International Journal Of Energy Research, Cilt 32, No 11, 1047-1057, 2008.
  • Aksakal, E., Dagdeviren, M., ”An IntegratedApproachFor Personel Selection With Demateland ANP Methods”, Journal of The Faculty of Engineering and Architecture of Gazi University, Cilt 25, No 4, 905-913, 2010.
  • Yalcin, N., Bayrakdaroglu, A., ve Kahraman, C., “Application of Fuzzy Multi-Criteria Decision Making Methods for Financial Performance Evaluation of Turkish Manufacturing Industries”, Expert Systems with Applications, Cilt 39, 350–364, 2012.
  • Dagdeviren, M., Eraslan, E., “SupplierSelection Using PROMETHEE Sequencing Method”, Journal of The Faculty of Engineering and Architecture of Gazi University, Cilt 23, No 1, 69-75, 2008.
  • Yilmaz, B., Dagdeviren, M., “Comparative Analysis of PROMETHEE andFuzzy PROMETHEE Methods in EquipmentSelection Problem”, Journal of The Faculty of Engineering and Architecture of Gazi University, Cilt 25, No 4, 811-826, 2010.
  • Mostafa, M., “Benchmarking Top Arab Banks’ Efficiency Through Efficient Frontier Analysis”, Industrial Management and Data System, Cilt 107, No 6, 802-823, 2007.
  • Voulgaris, F., Doumpos, M., ve Zopounidis, C., “On the Evaluation of Greek Industrial SMEs’ Performance via Multicriteria Analysis of Financial Ratios”, Small Business Economics, Cilt 15,127–136, 2000.
  • Wang, Y.-J., Combining Grey Relation Analysis with FMCGDM to Evaluate Financial Performance of Taiwan Container Lines”,Expert Systems with Applications, Cilt 36, 2424–2432, 2009.
  • Brauers, W.K.M., “Multi-Objective Seaport Planning by MOORA decision Making”, Annals of Operation Research, Cilt 206, 39–58, 2013.
  • İç, Y.T., “A TOPSIS Based Design of Experiment Approach to Assess Company Ranking”, Applied Mathematics and Computation, Cilt 227, 630–647, 2014.
  • İç. Y.T., Yurdakul, M., “Analitik Hiyerarşi Süreci (AHS) Yöntemini Kullanan Bir Kredi Değerlendirme Sistemi”, Journal of The Faculty of Engineering and Architecture of Gazi University, Cilt 15, No 1, 1-14, 2000.
  • Yurdakul, M., İç, Y.T., “AHP Approach in the Credit Evaluation of the Manufacturing Firms in Turkey”, International Journal of Production Economics, Cilt 88, 269-289, 2004.
  • Yurdakul, M., İç, Y.T., “Türk Otomotiv Firmalarinin Performans Ölçümü ve Analizine Yönelik TOPSIS Yöntemini Kullanan Bir Örnek Çalışma”, Journal of The Faculty of Engineering and Architecture of Gazi University, Cilt 18, No 1, 1-18, 2003.
  • Ertugrul, I., Karakasoglu, N., “Performance Evaluation of Turkish Cement Firms with Fuzzy Analytic Hierarchy Process and TOPSIS methods”, Expert Systems with Applications, Cilt 36, 702–715, 2009.
  • İç. Y.T., Yurdakul, M., “Development of a QuickCredibilityScoringDecisionSupportSystemusingFuzzy TOPSIS”, Expert Systems with Applications, Cilt 37, 567–574, 2010.
  • Secme N.Y., Bayrakdaroglu, A., Kahraman, C. “Fuzzy Performance Evaluation in Turkish Banking Sector using Analytic Hierarchy Process and TOPSIS”, Expert Systems with Applications, Cilt 36, 11699–11709, 2009.
  • Babic, Z., Plazibat, N., “Ranking of Enterprises based on Multi Criterial Analysis”, International Journal of Production Economics, Cilt 56-57, 29-35, 1998.
  • Deng, H., Yeh, C-H., ve Willis, R.J., “Inter-Company Comparison using Modified TOPSIS with Objective Weights”, Computers and Operation Research, Cilt 27, 963-973, 2000.
  • Moghimi, R., Anvari, A., “An Integrated Fuzzy MCDM approach and analysis to Evaluate the Financial Performance of Iranian Cement Companies”, International Journal of Advanced Manufacturing Technology, Cilt 71, 685–698, 2014.
  • Bulgurcu, B., K., “Application of TOPSIS Technique for Financial Performance Evaluation of Technology Firms in Istanbul Stock Exchange Market”, Procedia - Social and Behavioral Sciences, Cilt 62,1033 – 1040, 2012.
  • Feng, C-M., Wang, R-T., “Performance Evaluation for Airlines Including the Consideration of Financial Ratios”, Journal of Air Transport Management, Cilt 6 133-142, 2000.
  • Wang, Y-J., “Applying FMCDM to Evaluate Financial Performance of Domestic Airlines in Taiwan”, Expert Systems with Applications, Cilt 34, 1837–1845, 2008.
  • Tung, C-T., Lee, Y.-J., “The Innovative Performance Evaluation Model of Grey Factor Analysis: A Case Study of Listed Biotechnology Corporations in Taiwan”, Expert Systems with Applications, Cilt 37, 7844–7851, 2010.
  • Lee, P., T-W., Lin, C-W., Shin, S-H., “A Comparative Study on Financial Positions of Shipping Companies in Taiwan and Korea using Entropy and Grey Relation Analysis”,Expert Systems with Applications, Cilt 39, 5649–5657, 2012.
  • Kung, C-Y., Wen, K-L., “Applying Grey Relational Analysis and Grey Decision-Making to Evaluate the Relationship Between Company Attributes and its Financial Performance—A Case Study of Venture Capital Enterprises in Taiwan”, Decision Support Systems, Cilt 43,842–852, 2007.
  • Huang,C-J., Kuo-Chung, M.A., “Associating Grey Relation and Cluster Analysis to Perform Financial Characteristic Study on Enterprises in China”, Journal of Information & Optimization Sciences, Cilt 32, No. 4, 945–957, 2011.
  • Brauers W.K.M., Zavadskas, E. K., Turskis, Z., Vilutiene, T., “Multi‐Objective Contractor's Ranking by Applying the MOORA Method”, Journal of Business Economics and Management, Cilt 9, No. 4, 245-255, 2008.
  • Chakraborty, S., “Applications of the MOORA MethodforDecisionMaking in Manufacturing Environment”, International Journal of Advanced ManufacturingTechnology, Cilt 54, 1155–1166, 2011.
  • Karande, P., Chakraborty, S., “Application of Multi-Objective Optimization on the Basis of Ratio Analysis (MOORA) Method for Materials Selection”, Materials and Design, Cilt 37, 317–324, 2012.
  • İç, Y.T., Yıldırım, S., “MOORA-Based Taguchi Optimisation for Improving Product or Process Quality”, International Journal of Production Research, Cilt 51, No. 11, 3321-3341, 2013.
  • İnternet: Kamuyu Aydınlatma Platformu, KAP, www.kap.gov.tr.
  • Parkan, C., Wu, M-L., “Decision Making and Performance Measurement Models with Applications to Robot Selection”, Computers and Industrial Engineering, Cilt 36, 503-523, 1999.
  • Opricovic, S., Tzeng, G.H., “Compromise Solution by MCDM Methods: A Comparative Analysis of VIKOR and TOPSIS”, European Journal of Operational Research, Cilt 156, 445-455, 2004.
  • Deng, J., “Control problems of grey system”, Systems & Control Letters, Cilt 1, 288–294, 1982.
  • İç, Y.T., Yıldırım, S., Çok Kriterli Karar Verme Yöntemleriyle Birlikte Taguchi Yöntemini Kullanarak Bir Ürünün Tasariminin Geliştirilmesi”, Journal of The Faculty of Engineering and Architecture of Gazi University, Cilt 27, No 2, 447-458, 2012.
Gazi Üniversitesi Mühendislik Mimarlık Fakültesi Dergisi-Cover
  • ISSN: 1300-1884
  • Yayın Aralığı: Yılda 4 Sayı
  • Başlangıç: 1986
  • Yayıncı: Oğuzhan YILMAZ