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Ranking of Factoring Companies in Accordance with ARAS and COPRAS Methods

Asir Ozbek () and Emel Erol ()

International Journal of Academic Research in Accounting, Finance and Management Sciences, 2017, vol. 7, issue 2, 105-116

Abstract: Along with the development of international trade, financing techniques have also begun to make a progress. In parallel to this progress, factoring transactions in trade financing make a significant contribution. Factoring, which brings a positive impact on national economy, has been following a course with a progressive trading volume. Turkey has performed an improvement in world ranking by means of factoring capacity in recent years. This, therefore, demonstrates that emphasis on factoring transactions has also been increasing. Need for factoring companies that have a great role in domestic and foreign financing of trade has also been mounting. Determination of the most appropriate factoring company for the managements that have an intention of receiving factoring services is considered as a multi-criteria decision making (MCDM) problem through which a series of factors shall be regarded. Consequently, selection of a factoring company that is in compliance with the financing structure of the management is considerably important. Within the scope of this study, ranking of 7 factoring firms that are active in Istanbul Stock Exchange (BIST) was made by considering their financial data between the years of 2013 and 2016. Data were collected through Public Disclosure Platform. Criteria were designated in consequence of literature review. Additive Ratio Assessment (ARAS) and Complex Proportional Assessment (COPRAS) techniques, which are the two of MCDM methods, were used in an integrated way in the direction of rating the aforementioned companies. When the years of 2013–2016 were considered as integrated, it was observed that GAFRA is placed on the top while SMRFT is placed at the bottom according to both methods.

Keywords: ARAS; COPRAS; Factoring Companies; Multi-Criteria Decision Making (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:hur:ijaraf:v:7:y:2017:i:2:p:105-116