Comparative analysis of the cash flow structures of companies in the BIST 100 before and after COVID-19

The COVID-19 pandemic, which emerged in November 2019, has significantly affected the activities of businesses. The purpose of this study is to reveal how and in what direction cash flow, which is vital in sustaining the activities of businesses and ensuring the continuity of business activities, is affected by the COVID-19 outbreak. In this context, the cash flow structures of manufacturing, construction and public works, wholesale and retail trade, administrative and support services activities, information and communication, real estate activities, education, health, sports and other social services, technology, electricity, gas and water, mining and quarrying enterprises in the BIST-100 index for the last periods of 2018-2022 were analyzed comparatively according to the "Cash Flow Generated Activities Method" put forward by Gup et al. (1993) and later developed by Bruwer and Hamman (2005). In the study, the cash flow statements of the enterprises in the 4th quarter of the BIST 100 in 2018 as the base year (excluding enterprises in the financial institutions sector and enterprises without data) for the years 2018-2022 before and after Covid 19 were revealed. Of the total 30 enterprises analyzed, 20 enterprises are operating in the manufacturing sector. In the analysis, it was observed that the cash flow structures of most enterprises before and after Covid 19 were Model 2, that is, successful and mature. The result was in line with the results of other studies. It was determined that the Covid 19 pandemic did not have a negative impact on the cash management of the enterprises and that the enterprises within the scope of the research showed a successful performance in cash management in the face of this extraordinary situation.