FINANCIAL COMPETITIVENESS OF COMPANIES OPERATING IN THE AIR TRANSPORTATION SECTOR IN BORSA ISTANBUL

Authors : Hakan Altin

Pages : 527-548

Doi:10.54452/jrb.1325116

View : 74 | Download : 62

Publication Date : 2023-12-20

Article Type : Research

Abstract :The main objective of this study is to evaluate the financial competitiveness of companies operating in the air transportation sector in Borsa, Istanbul. Three companies are operating in the air transportation sector in Borsa Istanbul. Generally accepted financial ratios were used to determine the financial competitiveness of these companies. The period analyzed in the study using quarterly balance sheet periods is between 06/2019 and 03/2023. The number of periods is sixteen. On the other hand, balance sheet periods in which each company announced a loss were excluded from the analysis. The implementation process of the study consists of three stages. First, the OCRA method is used to determine the financial competitiveness of companies. Second, the findings obtained are compared with the ARAS method. Finally, the statistical significance of the results obtained from the two methods is tested with Spearman rank correlation. The CRITIC method, which is based on the standard deviation of each criterion and its relationship with other criteria, was used in the weighting process. The study results provide important information about airlines\' liquidity, managerial behavior, profitability and market capitalization. This information interests all market participants who can help them make investment decisions.
Keywords : Borsa İstanbul, Hava Taşımacılığı, Finansal Rekabet Gücü, OCRA, ARAS