Financial Performance of BIST Sustainability Index Enterprises: Unearthing the Most Optimum MCDA Methods for Decision-Makers

Abstract

Purpose: The aim of this study is to examine the financial performance of companies traded in BIST Sustainability index using 7 MCDA applications. Although there have been previous studies on aforementioned index, this study will be the first comparative and most comprehensive study conducted across 7 methods.Methodology: Analyzes were performed using VIKOR, FUCA, MOORA, GRA, COPRAS, SAW and CODAS methods and the CRITIC technique for the financial performance of 34 companies that achieved to remain in the relevant index continuously for 11 periods, within the timeframe spanning from Q1 2019 to Q3 2021.Findings: According to the comparative MCDA analysis, the highest capacity was found in the VIKOR method with 65.8% (p

Keywords

• capital markets
• share return
• sustainability
• mcda
• sermaye piyasaları
• hisse getirisi
• sürdürülebilirlik
• çkka