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An Assessment of the Paper Industry Firms Listed in Borsa Istanbul Using Entropy-Based MAUT Method

In: Financial Environment and Business Development

Author

Listed:
  • Mehmet Apan

    (Karabuk University)

  • Ahmet Oztel

    (Bartın University)

  • Mehmet Islamoglu

    (Karabuk University)

Abstract

The aim of this study is to measure the market and financial performance of the paper industry firms listed in Borsa Istanbul by adopting multiple attribute utility theory (MAUT) which is one of the most widely used multi-criterion decision-making (MCDM) methods. The performance of the firms is assessed for the period between 2011 and 2013. The weights of evaluation criteria are determined by applying entropy, which is an objective weighting method. In the analysis, the firms are ranked by integrating entropy-based MAUT method. According to the analysis results, Kartonsan has the highest performance rate for all the years, whereas Viking has shown the poorest performance except for the year 2011. During the period, Mondi and Olmuksan, which are acquired by foreign investors, have shown relatively stable performance; however, the performance rate of Kaplamin is unstable. The only firm that has a rising performance trend during the period is Alkim. On the other hand, the sample is also analyzed by using equal weighted MAUT.

Suggested Citation

  • Mehmet Apan & Ahmet Oztel & Mehmet Islamoglu, 2017. "An Assessment of the Paper Industry Firms Listed in Borsa Istanbul Using Entropy-Based MAUT Method," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Financial Environment and Business Development, pages 15-28, Springer.
    • Handle: RePEc:spr:eurchp:978-3-319-39919-5_2
    DOI: 10.1007/978-3-319-39919-5_2
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    Cited by:

    1. Çetinkaya, Cihan & Erbaş, Mehmet & Kabak, Mehmet & Özceylan, Eren, 2023. "A mass vaccination site selection problem: An application of GIS and entropy-based MAUT approach," Socio-Economic Planning Sciences, Elsevier, vol. 85(C).

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