scholarly journals Evaluation of Performance of Tourism Industry Companies listed in Istanbul Stock Exchange (BIST) by TOPSIS Methodology

2018 ◽  
Vol 7 (2) ◽  
pp. 8-18 ◽  
Author(s):  
Erdal Yılmaz ◽  
Tunay Aslan
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Tourism Industry ◽  
Topsis Method ◽  
The Past ◽  
Evaluation Of Performance ◽  
Istanbul Stock Exchange ◽  
The Future ◽  
Tourism Enterprises

To evaluate the operations of the companies in the past years and to make forecasts about the future, it is important to evaluate and analyze their financial performance. In this study, the financial performances of tourism enterprises operating in Istanbul Stock Exchange for 2013-2016 are compared with TOPSIS method. As a result of the research, it is determined that the best performances are observed in 2014, 2015 and 2016 for MALT and in 2013 for METUR.

scholarly journals The Influence of Acquisitions on a Firm’s Performance within a Sector: An Application on Istanbul Stock Exchange

2014 ◽  
Author(s):  
İbrahim Halil Ekşi ◽  
Nasara Banu Güzel ◽  
Rabia Ecem Küçüktaşdurmaz
Keyword(s):  
Mergers And Acquisitions ◽  
Financial Performance ◽  
Stock Exchange ◽  
Topsis Method ◽  
Listed Firms ◽  
Positive Effects ◽  
Istanbul Stock Exchange

In recent years it have seen a significant increase in the number of business mergers and acquisitions. There are number of reasons led to this trend. Amongst them it is the need to increase the firm financial performances. This paper mainly is focuses on other different effects of mergers and acquisitions on the financial performance of businesses. In this study, looking at Turkish stock exchange listed firms that have experienced acquisitions or mergers and the effects of such mergers on their performance. In this context, it be looked at textile firms and firms based on stone and land work that experienced acquisitions in 2010. The firms are Altinyildiz in textile and Çimbeton in the mining sectors respectively. Having look at the financial performances of these firms in their respective sectors before the acquisitions (2007, 2008, 2009), the acquisitionsin 2010, 9 rates were used the in TOPSIS method. According to findings, the acquisitioned firm’s show that they have positive effects on the financial performances of the firms. It is observed that there are differences in sectors’ period and degrees. In this case, it’s possible to explain the sectoral dynamics and acquisions of the firms’ integration.

Financial Performance Assessment of Large Scale Conglomerates Via Topsis and Critic Methods

2014 ◽  
Vol 3 (4) ◽  
pp. 203-224
Author(s):  
Halim Kazan ◽  
Omer Ozdemir
Keyword(s):  
Financial Performance ◽  
Performance Assessment ◽  
Large Scale ◽  
Stock Exchange ◽  
Financial Statements ◽  
Financial Ratios ◽  
Topsis Method ◽  
Financial Ratio ◽  
Istanbul Stock Exchange

In this study, TOPSIS method was used to analyze financial statements of the fourteen large-scale conglomerates which are traded on Istanbul Stock Exchange (ISE). At first, the study used CRITIC METHOD to calculate nineteen financial ratios of these holdings over three periods (2009-2011), and found their financial ratio weights. TOPSIS method was applied to the nineteen financial ratio calculated, and the conglomerates were given financial performance scores in accordance with the results reached. Financial performance scores of these conglomerates were compared in order to make an inference as to their future behaviors.

Financial Performance Analysis of Companies Registered on BIST Corporate Governance Index

2021 ◽  
pp. 121-142
Author(s):  
Haşim Bağcı ◽  
Ceyda Yerdelen Kaygın
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Stock Exchange ◽  
Important Indicator ◽  
Time Period ◽  
Istanbul Stock Exchange ◽  
Governance Index ◽  
Significance Levels ◽  
Promethee Method ◽  
Petroleum Refineries

The aim of this study is to measure the 2018 financial performance of 49 businesses that are registered in the Istanbul Stock Exchange Corporate Governance Index. Therefore, the financial performances of 49 businesses were compared to the ROA, ROE, ROS, and MV performance indicators that were determined for the measurement of financial performance. For comparison, first, the significance levels of the indicators were determined by the AHP method, and MV was determined to be the most important indicator. The PROMETHEE method was used to be able to financially compare the businesses, and Tüpraş Türkiye Petrol Rafinerileri A.Ş. (Tüpraş Turkey Petroleum Refineries Inc.) was the most successful corporate governance business within the specified time period. The least successful business is Pınar Su ve İçecek Sanayi ve Ticaret A.Ş. (Pınar Water and Drink Industry and Trade Inc).

The Possible Effects of Organization’s Corporate Accountability Sense on Continuous Auditing: The Case of ISE 100

2014 ◽  
Vol 3 (2) ◽  
pp. 287
Author(s):  
Ganite Kurt ◽  
Beyhan Marsap ◽  
Tugba Ucma Uysal
Keyword(s):  
Stock Exchange ◽  
Corporate Management ◽  
Corporate Accountability ◽  
Continuous Auditing ◽  
Istanbul Stock Exchange ◽  
The Future

The applicability of continuous auditing, which is deemed as the future of auditing, in terms of enterprises can be presented depending upon corporate management mentality of enterprises. As for the corporate management mentality within enterprises, it can be presented based on accountability which is a concept involving internal and external considerations. Consequently, the aim of this study is to identify the potential impacts of the corporate accountability mentality of enterprises on continuous auditing. In accordance with this purpose, a corporate accountability index has been prepared and the variables have been determined in the first place. Then, the data of the enterprises included in Istanbul Stock Exchange (ISE) 100 Index regarding these variables have been construed; thus, the potential impacts thereof on continuous auditing have been tried to be determined.  

scholarly journals ANALISIS PERBANDINGAN ANTARA RASIO KEUANGAN DAN METODE ECONOMIC VALUE ADDED SEBAGAI PENGUKUR KINERJA KEUANGAN PERUSAHAAN (STUDI KASUS PADA PERUSAHAAN ROKOK YANG TERDAFTAR DI BEI PERIODE TAHUN 2012 -2014

2016 ◽  
Vol 1 (01) ◽  
Author(s):  
Any Arisanti ◽  
IBK Bayangkara
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Economic Value ◽  
Value Added ◽  
Secondary Data ◽  
Financial Ratios ◽  
Economic Value Added ◽  
New Approach ◽  
Financial Situation ◽  
The Past

This study aimed to describe and compare the company's financial performance as measured by the method of Economic Value Added (EVA) is a new approach which assesses the company's financial performance by taking into account the expectations of donors, particularly shareholders and creditors. Financial Ratios and analysis to assess the company's financial situation in the past, present and future. The research object is a cigarette company listed on the Stock Exchange in the period 2012 - 2014, that are PT. Gudang Garam Tbk, PT. HM Sampoerna Tbk, PT. Bentoel Internasional Investama Tbk, and PT. Wismilak Inti Makmur, Tbk. This type of research is comparative descriptive, while the data used is secondary data obtained from the Indonesia Stock Exchange. The Results of financial ratios calculation fluctuated every company each year. In the EVA calculation are the average of 2012 - 2014, PT. HM Sampoerna Tbk has the highest EVA value, then PT. Gudang Garam Tbk, hereinafter PT. Bentoel Internasional Investama Tbk and last PT. Wismilak Inti Makmur, Tbk. EVA is always positive (EVA> 0) in 2012-2014 means that the management company is able to create economic value for shareholders, and of course the company's financial performance is also good.Keywords: financial performance, financial ratios, EVA

scholarly journals Principals of Financial Modelling

2011 ◽  
Vol 3 (2) ◽  
pp. 75-88 ◽  
Author(s):  
Sławomir Janiszewski
Keyword(s):  
Financial Performance ◽  
Cash Flow ◽  
Balance Sheet ◽  
Financial Statements ◽  
Financial Modelling ◽  
The Past ◽  
The Future ◽  
Cash Flow Statement

Principals of Financial ModellingThe financial statements submitted by each company annually reflect their financial performance in the past but are also utilized to forecast the future results in quantitative and realistic frames. The aim of the following elaboration is to thoroughly research all the issues related to financial modelling. The author step by step introduces the reader with theoretical and practical assumptions related to forecasting of respectively, the profit & loss account, balance sheet account and cash flow statement. All of the issues are illustrated with excel spreadsheets that were prepared exclusively for this article purposes.

Mixed integer programming approach for seasonal anomalies in stock markets: A case study for BIST

2018 ◽  
Vol 5 (2) ◽  
pp. 19-28
Author(s):  
Oguzhan Ahmet Arik
Keyword(s):  
Integer Programming ◽  
Mixed Integer Programming ◽  
Stock Prices ◽  
Stock Markets ◽  
Stock Exchange ◽  
Mixed Integer ◽  
Programming Approach ◽  
The Past ◽  
Istanbul Stock Exchange

This paper proposes a mixed integer programming approach for seasonal anomalies in stock markets and presents a case study for the XU030 index in the stock market of Istanbul Stock Exchange (BIST). Stock markets are significant for economies of countries all over the world. Investors get economical wealth or lose some of their investment by selling and buying stocks. Therefore, buying and selling times of stocks are so important. This paper investigates a well-known effect called as ‘Sell in May and Go Away’ by proposing a MIP approach that searches best times for buying and selling of stocks in a year. Furthermore, this paper includes a numerical example of XU030 stock prices for the past 5 years and shows that most of the XU030 stocks have seasonal anomalies.Keywords: First keyword, second keyword, third keyword, forth keyword.

Understanding the connection between SMEs’ competitiveness and cash flow generation: an empirical analysis from Hungary

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gabor Markus ◽  
Andras Rideg
Keyword(s):  
Financial Performance ◽  
Cash Flow ◽  
Explanatory Power ◽  
Cash Flows ◽  
Ordinary Least Squares ◽  
Competitive Performance ◽  
Content Type ◽  
The Past ◽  
Wide Range ◽  
The Future

Purpose The purpose of this paper is to interconnect the firm level competitive performance (competitiveness) to the financial performance of the firms. The goal is to give evidence on how successful small- and medium-sized enterprises (SMEs) use their financial performance to support their competitive performance. Design/methodology/approach Competitiveness is interpreted and measured through the resource-based view theory on a wide range of competitiveness measurements with a sample size of 639 SMEs. Financial data originate from official, publicly accessible governmental archives. All data are from a mid-size Central European country (Hungary). To interconnect competitiveness and financial performance, this paper recognizes two types of cash flow, namely, cash flow to the “past” (dividend and debt service) and cash flow to the “future” (CAPEX and innovation). This paper used ordinary least squares regression and binomial logistic regression to analyze connections. Findings Cash flows to the “future” have much stronger effects on competitiveness than cash flows to the “past.” Debt services do not affect competitiveness, whereas dividends, CAPEX and innovation efforts have a significant positive connection to competitiveness, showing that higher cash flow indicates higher competitive performance. If this paper knows how much the firm spends on innovation and dividends, in about the four-fifths of the cases, this paper can predict the level of the competitiveness of the firm without any additional information. The level of these variables gives enough information, the variability of them is not relevant. Research limitations/implications The explanatory power of future-oriented cash flow elements is much higher than that of the past-oriented ones, while innovation dominates all models. Firms with higher competitiveness build their returns in their cost structure, and only when the financial position of the firm is stable enough, withdraw the financial resource based on a long-term plan. The results are limited by the fact that using the current sample, detailed and representative (e.g. cross-industrial, spatial, etc.) decomposition is not possible. Originality/value Literature is focusing on how SMEs reach success, how SMEs “earn money.” There is no evidence on how SMEs “spend money,” earned during their success.

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