ANALYZING SECURITIES INVESTMENT TRUSTS TRADED IN BIST VIA AHP-PROMETHEE METHODOLOGY

Serpil Altınırmak, Bayezid Gülcan and Çağlar Karamaşa

Economy & Business Journal, 2016, vol. 10, issue 1, 458-472

Abstract: It is important to make investment in capital markets for smaller investors by reducing their risks. For this purpose, collective investment undertakings consisted of mutual funds and investment trusts are established. Investment trusts as collective investment undertakings are the institutions of capital markets established as corporation. They are pursuant to registered capital basis with the purpose of managing portfolios composed of gold and other precious metals traded in national and international stock exchanges and over the counter markets via capital market instruments. Apart from other trusts securities investment trusts’ activity area is classified as managing portfolios composed of gold and other precious metals by only capital market instruments. In this study it is aimed to evaluate the performance of nine securities investment trusts traded in BIST via AHP-PROMETHEE methodology. Data sets for this study are financial ratios consist of nine securities investment trusts traded in BIST. While weights of financial ratios are found by using AHP, rankings of securities investment trusts are obtained via PROMETHEE. Furthermore, each year’s sensitivity analysis in terms of criteria and GAIA plane which can be used for visual representation of ranking results is constructed.

Keywords: financial performance analysis; securities investment trusts; ahp; promethee (search for similar items in EconPapers)
JEL-codes: A (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:isp:journl:v:10:y:2016:i:1:p:458-472

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