FINANCIAL EFFICIENCY TEST OF THE ISE INDUSTRIAL COMPANIES IN THE GLOBAL CRISIS ENVIRONMENT: DATA ENVELOPMENT ANALYSIS APPLICATION

Hakan Altin ()
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Hakan Altin: Ankara University

Anadolu University Journal of Social Sciences, 2010, vol. 10, issue 2, 15-30

Abstract: The global financial crisis has deeply affected the international finance markets and also the international commodity markets. Decisions have been taken not only on the company basis but also on the government basis. In such a period, the financial activity of 142 companies which are registered to the Istanbul Stock Exchange Industrial Index was tested. Research period is the balance sheet term of 31th December 2008. During the application period the data envelopment method was used. The data envelopment analysis which we used during the application phase is based on the constant returns-to-scale assumption. In this framework the application includes two stages. At the first stage the data envelopment analysis was examined with the basic efficiency approach. At the second stage, the data envelopment analysis was examined with the super efficiency approach. The gathered results were discussed within the framework of these approaches. Besides, during the application stage a possibility was provided to the inactive companies to compare themselves with the active ones by giving the benchmark cluster of the active companies.

Keywords: Data envelopment analysis; financial efficiency; ISE industrial Index (search for similar items in EconPapers)
JEL-codes: G01 (search for similar items in EconPapers)
Date: 2010
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