Evaluation of the Financial Performances of Enterprises in the BIST Securities Investment Trusts Index (XYORT) using Entropy and Grey Relational Analysis Integrated Approach

Accurate measurement of financial performance, which is one of the most important indicators of operational performance, is important for the future decision-making processes of enterprises. Evaluating the financial performance of enterprises included in the index of securities investment trusts in BIST is the purpose of this study. In this respect, the significance weights regarding the determined financial performance criteria were calculated by Entropy method which is an objective evaluation technique. The performances of the enterprises within the scope of the application were evaluated by Grey Relational Analysis method. The results of the application showed that this integrated approach consisting of Entropy and Grey Relational Analysis methods will help decision makers in evaluating financial performance