Efficiency Analysis of Gold Mining Companies through Financial Statements

Abstract

In this study, efficiency analysis of six companies (IHMAD, IPEKE, KOZAL, KOZAA, METAL and PARKME) that have been active in gold production sector and operating within the scope of Borsa Istanbul (BIST) was procured by considering financial statements through Efficiency Analysis Technique with Output Satisficing (EATWOS) method. Data used in the analysis were collected through financial statements belonging to 2008 -2015 fiscal period partaken in Public Disclosure Platform (PDP). Within the scope of this study, measurement of economic efficiency of establishments is aimed. In accordance with this purpose, number of employees, total asset values and capitals constituted input factors while output factors are specified as net sales and net profits. In consequence of comparative analysis of results obtained from this implementation, annual performance of companies was designated, and procurement of basic data for future strategic decisions was targeted. When the results of the study conducted is analyzed comparatively, it is determined that KOZAL Company is the most successful company of all periods, and IHMAD Company is determined as the least successful company.