Sustainable Financial Performance Analysis of Logistics Companies Listed on Borsa Istanbul: An Integrated Multi-Criteria Decision-Making Approach

Hatice Handan Oztemiz (), Kemal Vatansever and Tuba Bayraktar
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Hatice Handan Oztemiz: Department of International Trade and Business, Zonguldak Bulent Ecevit University, 67100 Zonguldak, Türkiye
Kemal Vatansever: Department of Business, Alanya Alaaddin Keykubat University, 07425 Alanya, Antalya, Türkiye
Tuba Bayraktar: Quality Management Coordination, Alanya Alaaddin Keykubat University, 07425 Alanya, Antalya, Türkiye

Sustainability, 2025, vol. 17, issue 20, 1-26

Abstract: With the impact of globalization, logistics has evolved beyond mere goods transportation to become an indispensable component of international trade and a strategic force that provides a competitive advantage. Through logistics companies with strong financial performance, the sector plays a decisive role in enhancing industry efficiency and supporting global economic sustainability. In this context, measuring and improving the financial performance of logistics companies has become critically important. This study introduces an innovative approach to evaluating the financial performance of logistics companies listed on the Borsa Istanbul (BIST) Transportation Index by integrating four distinct Multi-Criteria Decision-Making (MCDM) methods. The SIWEC, MEREC, and LODECI methods, recognized for objective weighting, were used to assign weights to financial criteria for logistics companies. The obtained criteria weights were combined for each research period using the Heron mean, and then the performance rankings of logistics companies were determined using the CoCoSo method. The consistency of the results obtained was also evaluated through sensitivity analysis, and the reliability of the model was tested. It has been determined that the methods used are moderately to highly sensitive to changes in parameters.

Keywords: logistics; financial performance; multi-criteria decision making; SIWEC; MEREC; LODECI; CoCoSo (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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