The Comparative Performance Analysis of Turkish Real Sector: VOKOR Method

Abstract

In the economic literature, it is shown that an important factor that increases volatility in business cycles is the disability of companies to criticize the cycle in advance and the lack of management capacity suitable for the current period. As a result of globalization in the developing world, businesses need to measure their financial performance at regular intervals to be able to carry out their decision-making, planning and auditing functions in an increasingly competitive environment. This study aims to analyse 25 non-financial sectors' performance data using the VIKOR method in Turkey for 2009-2019. The results regarding the performance of the companies have been evaluated considering the business cycle periods. According to the findings, the most successful companies diverged in periods of stability and crisis, while companies with a low performance show similar tendencies for all periods.