BIST HAVAYOLU İŞLETMELERİNİN COVID-19 ÖNCESİ VE COVID-19 SÜRECİNDEKİ FİNANSAL PERFORMANSLARININ ENTROPİ TEMELLİ EDAS VE TOPSIS YÖNTEMLERİYLE DEĞERLENDİRİLMESİ
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Dosyalar
Tarih
2021
Yazarlar
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Yayıncı
International Association of Publishers
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Bu çalışmanın amacı, Borsa İstanbul Ulaştırma Endeksi’ne (BIST-XULAS) kayıtlı havayolu işletmelerinin Covid-19 öncesi ve Covid-19 sürecindeki finansal performanslarının karşılaştırılarak değerlendirilmesidir. Bu amaçla, endekste yer alan iki havayolu işletmesinin 2019-2020 yıllarına ilişkin dönemlik finansal tablolarından elde edilen veriler ile finansal analizlerde sıklıkla kullanılan finansal oranlar hesaplanarak karar matrisi oluşturulmuştur. Ardından, objektif bir değerlendirme yapılabilmesi amacıyla Entropi yöntemi kullanılarak kriter ağırlıkları hesaplanmıştır. İşletmelerin finansal performanslarının değerlendirilmesinde, çok kriterli karar verme (ÇKKV) tekniklerinden EDAS (Evaluation Based on Distance from Average Solution) ve TOPSIS (Technique for Order Preference by Similarity to An Ideal Solution) yöntemleri kullanılmıştır. Yöntem sonuçları arasında tutarlılık olup olmadığının karşılaştırılması amacıyla Spearman Sıra İlişkisi Testi’nden faydalanılmıştır. Araştırma sonucunda, yöntemlerden elde edilen sıralama sonuçları arasında 2019(1), 2020(2) ve 2020(T) dönemleri olmak üzere üç dönemde farklılık oluştuğu görülmüştür. İşletmelerin finansal performans sıralamaları da yöntem sonuçlarının farklı çıktığı dönemlerde benzer şekilde değişkenlik göstermiştir. Spearman Sıra İlişkisi Testi sonuçlarına göre, elde edilen Zskoru 2,3623 olarak hesaplanmıştır. Bu sonuç, kullanılan farklı yöntemlere göre elde edilen finansal performans analizi sıralama sonuçlarının tutarlı olduğunu göstermektedir. Bu çalışmada; literatürden farklı olarak ilk defa EDAS ve TOPSIS yöntemleri ile finansal performans analizi yapılmış olması, analiz döneminin Covid-19 sürecindeki etkileri içermesi ve sıralama sonuçlarında objektif değerlendirme sağlayan Spearman’ın Sıra İlişkisi Testi’nin kullanılması açısından literatüre katkı sağlayacağı düşünülmektedir.
The aim of this study is to compare the financial performances of airline companies registered in the Borsa Istanbul Transportation Index (XULAS) before COVİD-19 and during the Covid-19 period. For this purpose, a decision matrix was created by calculating the data obtained from the periodical financial statements of two airlines in the index for the years 2019-2020 and the financial ratios that are frequently used in financial analysis. Then, criteria weights were calculated using the Entropy method in order to make an objective evaluation. EDAS and TOPSIS methods, which are among the multi-criteria decision making (MCDM) techniques, were used in the evaluation of the financial performances of the enterprises. The Spearman Rank Relationship Test was used to compare whether there was consistency between the method results. As a result of the research, it was seen that there were differences between the ranking results obtained from the methods in three periods: 2019(1), 2020(2) and 2020(T). The financial performance rankings of the enterprises also varied similarly in the periods when the method results were different. According to the Spearman Rank Relationship Test results, the Z-score obtained was calculated as 2.3623. This result shows that the financial performance analysis ranking results obtained according to the different methods used are consistent. In this study; It is thought that, unlike the literature, financial performance analysis has been made for the first time with EDAS and TOPSIS methods, the analysis period includes the effects of the Covid-19 process, and the use of Spearman's Rank Relationship Test, which provides an objective evaluation in the ranking results, will contribute to the literature.
The aim of this study is to compare the financial performances of airline companies registered in the Borsa Istanbul Transportation Index (XULAS) before COVİD-19 and during the Covid-19 period. For this purpose, a decision matrix was created by calculating the data obtained from the periodical financial statements of two airlines in the index for the years 2019-2020 and the financial ratios that are frequently used in financial analysis. Then, criteria weights were calculated using the Entropy method in order to make an objective evaluation. EDAS and TOPSIS methods, which are among the multi-criteria decision making (MCDM) techniques, were used in the evaluation of the financial performances of the enterprises. The Spearman Rank Relationship Test was used to compare whether there was consistency between the method results. As a result of the research, it was seen that there were differences between the ranking results obtained from the methods in three periods: 2019(1), 2020(2) and 2020(T). The financial performance rankings of the enterprises also varied similarly in the periods when the method results were different. According to the Spearman Rank Relationship Test results, the Z-score obtained was calculated as 2.3623. This result shows that the financial performance analysis ranking results obtained according to the different methods used are consistent. In this study; It is thought that, unlike the literature, financial performance analysis has been made for the first time with EDAS and TOPSIS methods, the analysis period includes the effects of the Covid-19 process, and the use of Spearman's Rank Relationship Test, which provides an objective evaluation in the ranking results, will contribute to the literature.
Açıklama
Anahtar Kelimeler
TOPSIS, EDAS, Finansal Performans, Havayolu İşletmeleri, Financial Performance, Airline Businesses
Kaynak
3. PEARSON JOURNAL INTERNATIONAL CONFERENCE ON SOCIAL SCIENCES & HUMANITIES
