Performance analysis of financial leasing and factoring firms: An application on Borsa İstanbul

The purpose of the present study is to evaluate the financial performance of financial leasing and factoring companies traded in Borsa Istanbul (BIST) between the years 2010-2019 by measuring them with TOPSIS method, which is one of the multi-criteria decision making techniques. In the first part of the study, the concept of financial performance is mentioned. In addition, the data and rates used in financial performance measurement are explained. In the second and third parts, the concept of financial leasing and factoring, and its sector are mentioned. The historical development of the concepts around the World and in Turkey have been described. In addition, the scope and application of these concepts are mentioned. In the fourth part, financial performance measurement of financial leasing and factoring companies traded in BIST between 2010-2019 was made with the help of Technique For Order Preference By Similarity To An Ideal Solution (TOPSIS) method. In the context of the analysis, eight financial leasing and factoring firms were examined. Six generally accepted ratios among the liquidity, activity, financial structure and profitability ratios have been selected as the evaluation factor. The data used in the study were obtained from the financial statements available on Public Disclosure Platform' (PDP) website. With the help of these ratios, companies were evaluated in terms of proximity to the best positive value and distance to negative value (ideal values) with the financial performance scores calculated by TOPSIS method for each year between 2010-2019.