COMPARATIVE ANALYSIS OF FINANCIAL EFFICIENCIES WITH DATA ENVELOPMENT ANALYSIS (DEA) AND MULTI-ATTRIBUTE UTULITY THEORY (MAUT) METHODS

Abstract

The main purpose of this study is to perform financial analysis of textilecompanies with Multi Criteria Decision Making (MCDM) methods. WhichMCDM method is most suitable for a given problem? is an important questionin the literature. The study was carried out with different MCDM methods andthe results were compared and it was aimed to make a small contribution to thequestion in the literature. In addition, providing a perspective to thestakeholders and investors of textile sector is another aim of the study. In thisstudy, were attempt to determine the financial activities and performances of 22firms in the textile sector, which were traded in BIST (Borsa Istanbul) during2008–2015. The efficiency analysis was done by DEA method using thefinancial indicators of the firms. Furthermore, the MAUT method was appliedto determine financial performance. In this study, the efficiency andperformance orders obtained with the DEA (BCC), DEA (CCR), and MAUTmethods were examined together and then compared. Accordingly, it was seenthat BISAS was the most successful company during the whole period for thethree methods. The following companies were found to be ESEMS, SNPAM,ATEKS, and KORDS.