Financial Performance Analysis of Bist Technology Enterprises With Critic Weighted Cocoso Method Based on Cash Flow Ratios

Abstract

The aim of the study is to evaluate the financial performance of the companies registered in the BIST Technology index (XUTEK) for the years 2019 and 2020, based on the cash flow rates. In the study, financial performance evaluation of 19 enterprises, whose financial statements for the analysis period registered in XUTEK can be accessed, were carried out. In the performance evaluation, 16 financial ratios based on cash flow ratios calculated from the financial statements published on the Public Disclosure Platform (KAP) were used. The Critic method was used to calculate the criterion weights, and the CoCoSo method, which was developed in recent years from multi-criteria decision making techniques (MCDM), was used in the realization of financial performance rankings. In addition, in order to compare the accuracy of the findings of the CoCoSo method, the ranking results of the two methods were compared by performing the financial performance ranking with the TOPSIS method, which is frequently used in the literature and whose results have been proven to be accurate and reliable. Spearman's Rank Relationship Test was used to measure the consistency between the analysis results. According to the results of the analysis, the financial performance rankings of technology enterprises for the period 2018-2021 have varied over the years. According to the Z value obtained in Spearman's Rank Relationship Test results, it was seen that there was consistency between the methods