Evaluation of Financial Performance of Companies Operating in the Paper and Paper Products Sector

Abstract

As in the world, the paper and paper products sector has a very important place in Turkey. This sector meets a significant part of our needs in both business and private life. Paper and paper products production in Turkey reached a transaction volume of 1.2 billion dollars in 2022. Technological developments and crises such as Covid 19 have caused the sector to expand and change. Experiences in the sector, together with the paper and paper producer companies, make it necessary to keep the balance of assets and resources at the optimum level. Otherwise, the developments may cause the financial structures of the companies to deteriorate. Therefore, the analysis of the performance of paper and paper products manufacturing companies is of great importance for the sustainability of these companies. The aim of the study is to analyze the performances of companies operating in the BIST paper and paper products sector. ELECTRE and COPRAS methods are used in the study. In the analysis of the performances of these companies, financial statements of companies operating in the BIST paper and paper products sector for the years 2017-2021 were used. As a result of the study, it was determined that the findings obtained by both methods overlap with each other and the company with the code "KARTN" showed the highest performance in the findings obtained by both methods in 2017-2021. There are not enough empirical studies in the literature to analyze the financial performance of the paper and paper products industry with ELECTRE and COPRAS methods. In order to close this gap in the literature, the financial performances of companies in the paper and paper products sector are examined in the study. The study contributes to the literature for researchers examining the financial performance of the paper and paper products sector by providing information that will facilitate and strengthen the decisions of decision makers such as investment and financing.