Proceedings of the 8th International Conference on Advanced Research in Management, Business and Finance
Year: 2024
DOI:
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Fınancıal Performance Measurement Of Tourısm Sector By Usıng Grey Relatıonal Analysıs: An Applıcatıon On ISE
Assoc.Prof. Dr. Ceren Oral , Assoc.Prof. Dr. Pınar Celik Caylak
ABSTRACT:
Performance measurement is an important tool for tourism sector in today’s competitive environment. Grey relational analysis is one of the methods of multi-criteria decision techniques and it is used for evaluating especially ranking the companies through their financial performances. In this respect the averages of the 5-year-financial-table data from the years 2020-2024 for the companies in the tourism sector are used. Using the Grey Relational Analysis (GRA) method performance has been measured by means of liquidity, leverage and profitability. The aim of this study is to rank the tourism companies registered on ISE on their financial performances. There are 13 tourism companies on ISE. The data obtained from Public Disclosure Platform through their financial statements. Ten financial ratios were used as variables in grey relational analysis. As a result of analysis on these variables, financial performance ranking was made. Financial performance conditions of tourism companies are put forward. The study provides an important tool for analysts and investors to evaluate the financial performance of companies in the tourism sector.
keywords: Financial Analysis; Multi-Criteria Decision Techniques; Tourism Companies, Financial Data; Ratios