Performance Appraisal of Iron and Steel Enterprises Listed on BIST: An ENTROPY-Based TOPSIS Approach
Performance Appraisal of Iron and Steel Enterprises Listed on BIST: An ENTROPY-Based TOPSIS Approach

Summary/Abstract: The global iron and steel sector is currently navigating a period marked by significant volatility, driven by rising overcapacity and stagnating demand. In this challenging environment, businesses are increasingly compelled to compete not only within their local markets but also on the international stage, as the global economy becomes ever more interconnected. This necessitates a thorough evaluation of the financial performance of major firms in the iron and steel industry, particularly those listed on the Borsa İstanbul (BIST). Such assessments are critical for informing strategic decision-making within the sector. This study aims to assess the financial performance of prominent iron and steel companies traded on BIST between 2019 and 2023, employing an advanced multi-criteria decision-making (MCDM) approach. Specifically, an Improved ENTROPY method is combined with the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) to rank the fiscal performance of these enterprises. The findings indicate that EREGL stands out as the highest-performing company in terms of financial metrics over the specified period. The study offers valuable insights into the financial health and operational efficiency of iron and steel firms, providing key information for investors and policymakers in the sector. Additionally, the proposed methodology presents a robust framework for the evaluation of corporate performance in other industries facing similar global challenges.

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