Analyzing efficeincy of businesses quoted overall metal index by data envelopment

Efficiency of businesses quoted to the IMKB overall metal index had been searched by using Data Envelopment Analysis, one of the efficiency measurement methods. In the study committed for the purpose of determining the businesses? efficiency, balance sheets of the firms had been used and through these balance sheets, variables of the study, financial ratios, had been determined.Fundamental financial ratios, those thought to affect the firm performance, had been used as the input and output variables. In the application, businesses? crisis period efficiency had been calculated for four periods including those between the third quarter of 2008 and second quarter of 2009. The efficiency of those four periods determined by data envelopment analysis had been compared. Efficiency of businesses and IMKB price fluctuations had been compared for the same periods because their shares trade on stock exchange and also it allows making an overall evaluation. A high level of relation between business profitability and efficiency results derived by data envelopment analysis hasn?t been found. Main cause of this situation is thought to be the speculative operations in financial markets. In accordance with the aim of the study, it is denoted that data envelopment analysis gives more reliable results, in terms of determining business efficiency and guide to investors.