Results: According to the TOPSIS method, while the best bank is QNB Finansbank, HALKB, a public bank, was determined as the best bank using the GRA method. There is no significant correlation between financial performance indicators and market returns obtained by either method, with exceptions. There is no generally significant correlation detected between financial ratios and market returns. Accordingly, it is concluded that the bank stock prices in the study are shaped by the influence of external factors and expectations. The study results include information that can be used for different purposes among bank managers, academics and financial investors.
This study is the extended and revised version of conference paper named as “Türkiye’de Faaliyet Gösteren Bankaların Finansal Performansının Çok Kriterli Karar Verme Modelleri ile Sıralanması” which was presented at 1. International Banking Congress in 2018, Ankara/Turkey.
Yeşildağ, E., Özen, E. and Baykut, E. (2020), "An Assessment for Financial Performance of Banks Listed in Borsa Istanbul By Multiple Criteria Decision Making", Özen, E. and Grima, S. (Ed.) Uncertainty and Challenges in Contemporary Economic Behaviour (Emerald Studies in Finance, Insurance, and Risk Management), Emerald Publishing Limited, Bingley, pp. 159-183. https://doi.org/10.1108/978-1-80043-095-220201013
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