kula, veysel afyon kocatepe üniversitesi - iibf - uluslararasi ticaret ve finansman bölümü, Turkey , kandemir, tuğrul afyon kocatepe üniversitesi - iibf - işletme bölümü, Turkey , baykut, ender afyon kocatepe üniveristesi - iibf - ingilizce işletme bölümü, Turkey

AN INVESTIGATION OF FINANCIAL PERFORMANCES OF INSURANCE COMPANIES AND PENSION FUND TRADING ON BORSA ISTANBUL WITH GREY RELATIONAL ANALYZE

27450

The insurance sector is becoming increasingly important due to the added value it provides to a country’s economy and its increasing share in the finance industry. In this study, financial performances of seven insurance companies and a pension fund trading on Borsa Istanbul (BIST) are analyzed using the Grey Relational Analysis method. According to analysis results obtained from 2013 year-end data, we observe that the capital structures of half of the companies under investigation were effective. In other words, financial leverage was minimized in half of the companies. In addition, performance differentiation is evident by the minimized levels of current ratios and four profitability ratios (net profit margin, profit per share, equity profitability, asset profitability) of the companies operating at the minimum effectiveness level. Study findings show that superior financial performance over competitors can be attained by following some capital structure policies, such as keeping a high level of equity, maintaining a high level of liquidity, and increasing profitability.

37

Grey Relational Analyze , AHP , Insurance Companies , Financial Performance , Borsa Istanbul.

Afyon Kocatepe University Journal Of Economics an‎d Administrative Sciences

53