New Issue published: Volume 7 Issue 2, December 2024
Analysis of the Effects of the Covid-19 Process on the Financial Performance of Businesses in the Defense Industry By the TOPSIS, EDAS, CoCoSo Method: ISE Sample
Cemalettin Aktepe , Fatma İzgi
Abstract
The defense industry has recently received attention due to its significant advancements. This study examines the impact of the COVID-19 pandemic on the financial performance of companies operating in the Turkish defense sector. The financial data from 2019 to 2023 of defense industry firms listed on Borsa Istanbul, namely ASELS, OTKAR, PAPIL, SDTTR, NETAŞ, and KATMER, were analyzed. The primary objective of this research is to evaluate the financial performance of these companies during the pandemic by comparing it with the pre-pandemic period. In this context, eight financial ratios related to liquidity, turnover, financial structure, and profitability were utilized to assess financial performance. The criteria weights were determined using the Entropy method, and the performance rankings of the companies were established through Multi-Criteria Decision Making (MCDM) techniques, including TOPSIS, EDAS, and CoCoSo. This study offers a novel perspective by examining the effects of the COVID-19 pandemic on Turkish defense industry firms and uncovering their financial performance in comparison to previous periods. According to the results of the entropy method, the most significant criteria for evaluating the financial performance of companies listed on Borsa Istanbul (BİST) are Active Profitability Ratio (APR) and Equity Profitability Ratio (EPR). In the year 2020, which was significantly impacted by the pandemic, companies with strong financial performance included ASELS, PAPIL, SDTTR, and NETAŞ. Conversely, KATMER was identified as one of the companies with weaker financial performance during the same period.
Keywords
Defense industry, Financial Performance, ISE, MCDM
The Effect Of Digital Technologies On Financial Inclusion: The Case Of The Emerging European Economies
Abstract
The study aims to empirically research the effect of digital technologies on financial inclusion. The paper examined emerging European countries and discussed the period from 2010-2019. A panel data analysis was performed. Six different panel data models were constructed. The number of bank branches per 100.000 people and the number of debit cards per 1.000 people are used in the models as indicators of financial inclusion. Fixed broadband subscriptions per 100 people, active mobile broadband subscriptions per 100 people, and the proportion of Internet users are used as indicators of digital technologies. The estimation of the models confirmed that digital technologies have a significant and negative effect on the number of bank branches per 100.000 people and a significant and positive effect on the number of bank cards per 1.000 people. According to results the utilize of digital technologies has a positive effect on financial inclusion, especially in the banking sector. This situation will allow countries to improve the degree of financial inclusion.
Keywords
Financial Inclusion, Digital Technologies, Panel Data Analysis
