Abstract
Comparison of Financial Performance of Companıes With Swara, Aras and Topsis Techniques: BIST Technology Index Application
While the factors determining the level of development of the countries were more
than one in the past, this concept has almost started to be replaced by technology. Giving
so much importance to technology makes it necessary to know the general structure of
technology enterprises in a country as well as their financial level. In this context, the aim
of this study is to determine the effects of the changes in the financial performance of the
companies that traded in BIST Technology Index in Borsa Istanbul (BIST) in 2016, 2017
and 2018 in order to keep track of the movements in the market. For this purpose, financial
ratios obtained from balance sheet and income statement are taken as evaluation criteria
in the assesment of financial performances. In order to determine the weights of these
criteria, SWARA, which is one of the MCDM methods, is used to determine the rankings
of the enterprises by using ARAS and TOPSIS techniques were used. Both techniques
were interpreted by comparing rankings from best performance to worst performance.
While ASELS-ALCTL took the first place in both techniques in 2016, PKART-NETAS was
in last place in 2017 and in 2018, businesses were ranked in different positions.
Keywords
Multi-Criteria Decision Making (MCDM), SWARA, ARAS, TOPSIS, BIST Technology Index, Financial Perform
