Financial literacy is a path to sustainability and has an important role in ensuring the financial sustainability of individuals, families, enterprises and national economies. The level of these economic indicators such as debt, payment discipline, savings and financial management all translate into prosperity or insolvency and bankruptcy and result partially from financial literacy. The higher the level of financial literacy, especially of young people, the more favourable the level of economic indicators, which translates into the economy and sustainable development. With this study we aim to determine the level of financial literacy of high school students in Poland and to determine whether financial literacy changes according to gender. The most important element that distinguishes our study from the others is that or study was carried out with a large sample of high school students with an average age of 15–16 years. In addition, the effect of gender on financial literacy at an early age was investigated, also comparing the wider themes to the so-called narrow themes. The results of the research demonstrated a good and partially very good, level of financial knowledge of the young people in Poland. 45.3% obtained an average level score and 43.8% achieved a high-level score in financial knowledge. This result shows that they can be rational in their financial decision making. However although, it is understood that gender makes a difference on financial behaviour and use of financial instruments, gender does not make any difference on the level of financial knowledge. Moreover, the financial literacy level of males is found to be higher than females.

Financial literacy is a path to sustainability and has an important role in ensuring the financial sustainability of individuals, families, enterprises and national economies. The level of these economic indicators such as debt, payment discipline, savings and financial management all translate into prosperity or insolvency and bankruptcy and result partially from financial literacy. The higher the level of financial literacy, especially of young people, the more favorable the level of economic indicators, which translates into the economy and sustainable development. However, despite many years of research, there is still a lack of a uniform and coherent definition of financial literacy, as well as methods for measuring it. This study offers a small step forward, presenting the authors’ own view of the concept of financial literacy, the conceptualizations of financial literacy and methods used for investigating. Moreover, they present the results of a survey conducted on the financial behaviour, financial attitudes, and financial knowledge of the Polish youth and compare this to a PISA study on 15-year-old students. Results demonstrate a good, and partially very good, level of financial literacy among young Poles, showing that they are rational in their financial decision making.

The purpose of this study is to find out the financial performances of the companies by using TOPSIS, one of the mostly used multi-criteria decision-making methods, and also to measure the relationship between stock returns and the financial performances with financial ratios. For this reason, selected 4 companies trading at Borsa İstanbul Food Index and their 20 financial ratios between 2000:4 and 2014:3 are used in the study. Finally the relations are investigated by Correlation Analysis. According to analysis, there is no relationship between TOPSIS financial performance scores and return on stocks. When we look at the relationship between financial ratios and return on stocks, there is no significant relationship among variables in 3 out of 4 companies. However, there is a significant positive statistical relationship with only one company. Research results show that stock prices are determined by external factors rather than internal factors in small companies. TOPSIS PERFORMANS DEĞERLEME ÖLÇÜSÜ VE FİNANSAL ORANLAR İLE HİSSE SENEDİ GETİRİ İLİŞKİSİ Anahtar KelimelerFinansal oranlar, Borsa İstanbul, hisse senedi getirisi, TOPSIS, finansal performans JEL Sınıflandırması G11, G32, L00 ÖZETBu çalışmanın amacı, çok kriterli karar verme yöntemlerinden biri olan TOPSIS yöntemiyle şirketlerin finansal performanslarını belirlemek, ayrıca bu performans ve finansal oranlarla hisse senetlerinin borsa getirileri arasındaki ilişkiyi ölçmektir. Bu nedenle çalışmada, Borsa İstanbul Gıda Endeksinde yer alan seçilmiş dört işletme ve bu işletmelerin 2000:4-2014:3 dönemlerine ait yirmi finansal oran kullanılmış, ilişkiler korelasyon analizi yardımıyla araştırılmıştır.Korelasyon analizine göre, TOPSIS performans skorları ile hisse senedi getirileri arasında bir ilişki bulunmamıştır. Finansal oranlar ile hisse senedi getirileri arasındaki ilişkiye bakıldığında, dört işletmenin üçünde değişkenler arasında genel olarak bir ilişki bulunmamıştır. Sadece bir işletmenin kârlılık oranları ile piyasa getirileri arasında istatistiksel olarak anlamlı pozitif ilişkiler bulunmuştur. Çalışma sonuçları hisse senedi fiyatlarının özellikle küçük işletmelerde daha çok dışsal faktörlerce belirlendiğini ortaya çıkarmıştır.

Companies are exposed to many risks in their life. Derivatives are one of the tools that companies commonly use in order to mitigate these risks. The fluctuations in the markets in recent years have increased companies' need to use derivatives. For this reason, the importance of derivatives is increasing every day. The purpose of this study is to ascertain the financial risks which arise from the activities of non-financial companies in BIST 100 index operating in Turkey and the derivatives used in the management of these risks. In addition, this study aims to determine the differences between companies using derivatives and those not using derivative products. Therefore, the year-end financial reports of 58 companies, which were continuously in the BIST100 index between 2013 and 2018 were analyzed. The study results showed that the risks that the companies were exposed to included credit risk, liquidity risk, interest risk, currency risk and other risks and only half of the companies, on average, used derivatives in the management of these risks. In addition, it was observed that companies rather hedged themselves against currency risks through futures contracts and used more derivatives in the transportation and energy sectors. Besides, it is seen that the companies using derivative products are big and low liquid companies.

No abstract