Performance Appraisal of Iron and Steel Enterprises Listed on BIST: An ENTROPY-Based TOPSIS Approach
Journal Title: Journal of Corporate Governance, Insurance, and Risk Management - Year 2024, Vol 11, Issue 3
Abstract
The global iron and steel sector is currently navigating a period marked by significant volatility, driven by rising overcapacity and stagnating demand. In this challenging environment, businesses are increasingly compelled to compete not only within their local markets but also on the international stage, as the global economy becomes ever more interconnected. This necessitates a thorough evaluation of the financial performance of major firms in the iron and steel industry, particularly those listed on the Borsa İstanbul (BIST). Such assessments are critical for informing strategic decision-making within the sector. This study aims to assess the financial performance of prominent iron and steel companies traded on BIST between 2019 and 2023, employing an advanced multi-criteria decision-making (MCDM) approach. Specifically, an Improved ENTROPY method is combined with the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) to rank the fiscal performance of these enterprises. The findings indicate that EREGL stands out as the highest-performing company in terms of financial metrics over the specified period. The study offers valuable insights into the financial health and operational efficiency of iron and steel firms, providing key information for investors and policymakers in the sector. Additionally, the proposed methodology presents a robust framework for the evaluation of corporate performance in other industries facing similar global challenges.
Authors and Affiliations
Hatice Özkurt Çokgüngör
Keywords
Related Articles
- EP ID EP755591
- DOI https://doi.org/10.56578/jcgirm110303
- Views 27
- Downloads 0
Investor Overreaction in the BIST Sustainability Index: An Empirical Analysis from 2014-2022
Recent emphasis on environmental stewardship by stakeholders has escalated demands for disclosures on social and environmental impacts from environmentally detrimental companies, underscoring the significance of sustaina...
Adoption of Green Marketing Strategies and Challenges in Sustainable Business Practices: Insights from Indian Companies
The increasing global awareness of environmental issues has driven consumers toward eco-friendly products, making green marketing an essential aspect of contemporary business strategy. Originating in the 1980s, the conce...
The Role of Shared Strategic Values in Achieving Sustainable Success in Global Logistics Enterprises
Strategic values play a pivotal role in the long-term success of logistics enterprises, influencing interactions with customers, employees, and stakeholders, and driving sustainable outcomes. In the context of the global...
Sustainability Reporting in Local Governance: An Analysis of the İstanbul Environment Management Company (IEMC) Sustainability Report
The concept of sustainability encompasses a wide array of local government entities, including metropolitan, provincial, and district municipalities. In the current era, citizens residing within these jurisdictions asses...
Detection of Anomalies in Spot and Futures Markets and Their Directional Effects: An Analysis of the BIST 100 Index
The occurrence of market anomalies has been steadily increasing in contemporary stock markets, particularly within the context of the current economic climate. The volatility of stock markets, exacerbated by the recent i...