ANALYSİS OF THE FİNANCİAL PERFORMANCE OF TURKİSH LİSTED OİL COMPANİES THROUGH THE APPLİCATİON OF SD AND MAUT METHODS

Abstract

In this study, the SD (Standard Deviation) and the MAUT (Multi-attribute Utility Theory) methods are employed to construct a decision-making model in evaluating the performance of Turkish listed oil companies. The criteria selected for the performance evaluation model in the study consist of traditional accounting and market-based performance indicators such as profit per share, price-earnings ratio, Tobin's q, market value-book value, stock returns, market value added, beta coefficient and stock return volatility. While the priority weights of the performance evaluation criteria are derived from SD method, the financial performance of oil companies are ranked with MAUT methods. According to the results of the rankings of the five oil companies from 2010 to 2019, Türkiye Petrol Rafinerileri A.Ş. (TUPRS) is the best company. The results based on the performance evaluation model reveal that companies following TUPRS in the performance ranking should revise their competition strategies.