Borsa İstanbul'da Pandemi Dönemindeki Uzun Vadeli İHA Performansına İlişkin Karşılaştırmalı Bir ÇKKA Uygulaması

Abstract

The aim of this study is to help financial decision makers by making long-term performance analysis of initial public offerings with a different comparative analysis perspective. Multi-criteria decision analysis (MCDA) methods are used in problems with complex answers. The pandemic, which spread throughout the world in the first quarter of 2020, created a short-term shock effect in the capital markets, but capital markets survived this shock with investors. While the number of shareholders in Borsa Istanbul was 1.3 million before the pandemic, this number exceeded 3.3 million. An increase in this number also means an increase in the number of financial decision-makers. At this research, the long-term performance of 49 initial public offerings, which took place in Borsa Istanbul before the pandemic is analyzed with a comparative MCDA analysis perspective. To that end, the study, in which CRITIC weighting technique and ARAS, MOORA, TOPSIS, COPRAS and ELECTRE III methods were used, examined 10 quarter periods during the pandemic process. As a result of the research, which is the most comprehensive MCDA study in the field of IPOs, the MOORA method has been recommended to financial decision-makers because it produced superior results compared to other 4 methods analyzed.

An Alternative Sensitivity Analysis for the Evaluation of MCDA Applications: The Significance of Brand Value in the Comparative Financial Performance Analysis of BIST High-End Companies

“…Multi-criteria decision analysis (MCDA) applications are used to create a roadmap for the future by evaluating complex real-life scenarios [1,2]. The examined alternatives are put into practice by giving the calculated weights of the predetermined criteria.…”