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BIST’TE İŞLEM GÖREN FUTBOL KULÜPLERİNİN COVID-19 DÖNEMİ FİNANSAL PERFORMANSLARININ IDOCRIW TEMELLİ ANALİZİ

Yıl 2022, Cilt: 6 Sayı: 1, 44 - 65, 23.03.2022

Öz

Günümüzde futbol sadece bir spor olmaktan çıkmış ticari bir ürüne dönüşmüştür. Futbol ekonomisi ülke ekonomilerini etkileyecek düzeyde bir büyüklüğe ulaşmıştır. Futbol kulübünden ziyade futbol şirketi olarak görülebilecek bu kulüpler ticari faaliyetlerde bulunmakta ve borsalarda işlem görmektedirler. Bu çapta büyük ekonomiye sahip futbol sektörü tüm ekonomik faaliyetler gibi günümüz salgını Covid-19’dan ciddi oranda etkilenmiştir. Bu etki, sektörde yer alan kulüplerin borç oranlarının artmasına, gelirlerinin düşmesine ve ekonomik anlamda zorluk yaşamalarına yol açmıştır. Bu bağlamda çalışmada BIST’te işlem gören, Türkiye’nin dört büyük kulübü olarak adlandırılan Galatasaray, Fenerbahçe, Beşiktaş ve Trabzonspor kulüplerinin 2019-2020 ve 2020-2021 dönemlerindeki finansal performansları analiz edilmeye çalışılmıştır. Çalışmada kulüplerin mali verilerinden cari oranları, asit-test oranları, nakit oranları, borç oranları, borç/özsermaye oranları ve net kar marjları kriter olarak belirlenmiş ve bu kriterlerin her biri, Entropi ve CILOS yöntemlerini bir araya getiren IDOCRIW yöntemi ile ağırlıklandırılarak analiz edilmiş ve ardından IDOCRIW kriter ağırlıkları kullanılarak WASPAS yöntemi ile alternatiflerin kıyaslaması yapılmıştır. Çalışmanın sonucunda tutarlı ve benzer sonuçlar elde edilmiştir. 2019-2020 ve 2020-2021 dönemleri arasında kriter önem ağırlıkları açısından önemli farklılıklar olduğu ve tüm kulüpler açısından önem ağırlığı en düşük kriterin nakit oranı olduğu tespit edilmiştir. Ayrıca WASPAS yöntemi ile yapılan sıralama sonucunda her iki dönemde en iyi performans gösteren şirketin BJKAS olduğu ortaya konulmuştur.

Kaynakça

  • Batmunkh, E. (2021). Role of Football in International Business and Economy. Management Science and Business Decisions, 1(2), 39-56.
  • Cereška, A., Zavadskas , E., Cavallaro, F., Podvezko, V., Tetsman, I., and Grinbergiene, I. (2016). Sustainable assessment of aerosol pollution decrease applying multiple attribute decision-making methods. Sustainability (8), 586.
  • Chakraborty, S., and Zavadskas, E. K. (2014). Applications of WASPAS method in manufacturing decision making. Informatica, 25 (1), 1-20.
  • Dahooie, J., Raafat, R., Qorbani, A., and Daim, T. (2021). An intuitionistic fuzzy data-driven product ranking model using sentiment analysis and multi-criteria decision-making. Technological Forecasting and Social Change(173), 121158.
  • Demirci, F. (2017). Entropi tabanlı topsıs yöntemiyle borsa İstanbul’da işlem gören futbol kulüplerinin sportif, finansal ve finansal fair play performanslarının karşılaştırmalı analizi. Yüksek Lisans Tezi, Bartın Üniversitesi, Sosyal Bilimler Enstitüsü.
  • Dimitropoulos, P., and Limperopoulos, V. (2014). Player contracts, athletic and financial performance of the Greek football clubs. Global Business Economy Review, 16(2), 123-141.
  • Drewes, M., Daumann, F., and Follert, F. (2021). Exploring the sports economic impact of COVID-19 on professional soccer. Soccer & Society, 22(1-2), 125-137.
  • EkoLig. (2020). Covid-19 Öncesi ve Sonrasında Futbol Ekonomisi Raporu. AktifBank. https://www.aktifbank.com.tr/Documents/aktif-bank-ekolig-covid-19.pdf, Erişim Tarihi: 10.12.2021.
  • Elden Ürgüp, S., ve Demir , E. (2021). Finansal Performans İle Sportif Başarı Arasındaki İlişkinin Belirlenmesi: Türkiye'deki 4 Büyük Futbol Kulübü Üzerine Bir Analiz. FESA Dergisi, 6 (2), 240-250.
  • https://ec.europa.eu/eurostat/statistics-xplained/index.php?title=International_trade_in_sporting_goods Erişim Tarihi: 18.12.2021.
  • Güngör, N., ve Sarı, E. (2021). Bist 100'de yer alan futbol kulüplerinin sportif başarıları ve finansal performansları arasında ki ilişkinin analizi. Yönetim Bilimleri Dergisi, 19(Özel Sayı), 165-186.
  • Hamil, S., and Chadwick, S. (2010). Introduction and Market Overview. S. Hamil, & S. Chadwick içinde, Managing Football: An International Perspective (s. 3). OXFORD: Butterworth-Heinemann.
  • Hammerschmidt, J., Durst, S., Kraus, S., and Puumalainen, K. (2021). Professional football clubs and empirical evidence from the COVID-19 crisis: Time for sport entrepreneurship? Technological Forecasting & Social Change(165), 120572.
  • Hashemkhani Zolfani, S., Aghdaie, M. H., Derakhti, A., Zavadskas, E. K., and Varzandeh, M. M. (2013). Decision making on business issues with foresight perspective; an application of new hybrid MCDM model in shopping mall locating. Expert Systems with Applications, 40(17), 7111–7121.
  • https://brandday.net: https://brandday.net/genel/2021/11/06/turkiyede-futbol-ekonomisindeki-son-gelismeler-ne-yonde/ Erişim Tarihi: 13.12.2021.
  • https://www.kap.org.tr/tr/Sektorler: https://www.kap.org.tr/tr/Sektorler Erişim Tarihi: 28.11.2021.
  • https://www.tff.org/default.aspx?pageID=687&ftxtID=33547 Erişim Tarihi: 20.12.2021.
  • https://www.transfermarkt.com.tr/super-lig/startseite/wettbewerb/TR1 Erişim Tarihi: 10.12.2021.
  • https://www2.deloitte.com/content/dam/Deloitte/tr/Documents/technology-media-telecommunications/2021e-baslarken-avrupada-ve-turkiyede-futbol-ekonomisi.pdf Erişim Tarihi: 22.12.2021.
  • Ika, S., Udin, K., Nugroho, J., and Koenti, I. (2021). Assessing the Financial Performance of English Football Clubs: Arsenal and Manchester City. 3rd International Conference of Banking, Accounting, Management and Economics (ICOBAME) (s. 57-62). Atlantis Press.
  • Kızıl, C., ve Aslan, T. (2021). Finansal Performansın Yüzde Yöntemi ile Analizi: Galatasaray A.Ş.’ye Yönelik Bir Uygulama. Uluslararası Toplum Araştırmaları Dergisi, 18(44), 2528-9535.
  • Liu, L., Zhou, J., An, X., Zhang, Y., and Yang, L. (2010). Using fuzzy theory and information entropy for water quality assessment in Three Gorges region, China. Expert Systems with Applications, 37(3), 2517–2521.
  • Lotfi, F., and Fallahnejad, R. (2010). Imprecise Shannon’s entropy and multi attribute decision making. Entropy, 12(1), 53-62.
  • Özbek, A. (2021). Çok Kriterli Karar Verme Yöntemleri. Ankara: Seçkin.
  • Pala, O. (2021). IDOCRIW ve MARCOS Temelli BIST Ulaştırm İşletmelerinin Finansal Performans Analizi. KAÜİİBFD, 12(23), 263-294.
  • Paradowski, B., Shekhovtsov, A., Bączkiewicz, A., Kizielewicz, B., and Sałabun, W. (2021). Similarity Analysis of Methods for Objective Determination of Weights in Multi-Criteria Decision Support Systems. Symmetry(13), 1874.
  • Parnell, D., Bond, A., Widdop , P., and Cockayne, D. (2021). Football Worlds: Business and networks during COVID-19. Soccer & Society, 22(1-2), 19-26.
  • Podvezko, V., Kildienė, S., and Zavadskas, E. (2017). Assessing the Performance of the Construction Sectors in the Baltic States and Poland. PANOECONOMICUS, 64(4), 493-512.
  • Shannon, C. (1948). A mathematical theory of communication. The Bell system technical journal, 27(3), 379-423.
  • Sharma, S., Singh, G., Sharma, R., Jones, P., Kraus, S., and Dwivedi, Y. (2020). Digital health innovation: exploring adoption of COVID-19 digital contact tracing apps. IEEE Transactions on Engineering Management.
  • Simić, V., Lazarević, D., and Dobrodolac, M. (2021). Picture fuzzy WASPAS method for selecting last-mile delivery mode: a case study of Belgrade. European Transport Research Review, 13(1), 1-22.
  • Stojić , G., Stević, Ž., Antuchevičienė, J., Pamučar , D., and Vasiljević, M. (2018). A novel rough WASPAS approach for supplier selection in a company manufacturing PVC carpentry products. Information, 9(8), 121-138.
  • Toma, S., and Catana, S. (2021). The Value of Brand In The Football Industry. Annals-Economy Series (1), 27-31. Tovar, J. (2020). Performance, Diversity and National Identity Evidence from Association Football. Economic Inquiry, 58(2), 897-916.
  • Turskis, Z., Zavadskas, E. K., Antucheviciene, J., and Kosareva, N. (2015). A Hybrid Model Based on Fuzzy AHP and Fuzzy WASPAS for Construction Site Selection. International Journal of Computers communications & control, 10(6), 113-128.
  • Uluyol, O. (2014). Finansal performans ile sportif başarı arasındaki ilişkinin belirlenmesi: Türkiye'deki 4 büyük futbol kulübü üzerine bir analiz. Yaşar Üniversitesi E-Dergisi, 9(34), 5716-5731.
  • Wang, J.-J., Jing, Y.-Y., Zhang, C.-F., and Zhao, J.-H. (2009). Review on multi-criteria decision analysis aid in sustainable energy decision-making. Renewable and Sustainable Energy Reviews, 13(9), 2263-2278.
  • Zavadskas, . (1987). Integrated Resource Assessment and Selection Decisions in Construction. Vilnius, Lithuania: Mokslas Vilnius.
  • ‬Zavadskas, E. K., Antucheviciene, J., Šaparauskas, J., and Turskis, Z. (2013). Multi-criteria assessment of facades’ alternatives: peculiarities of ranking methodology. Procedia Engineering(57), 107–112.
  • Zavadskas, E. K., Turskis, Z., Antucheviciene, J., and Zakarevicius, A. (2012). Optimization of weighted aggregated sum product assessment. Elektronika Ir Elektrotechnika, 122(6), 3-6.
  • Zavadskas, E., and Podvezko, V. (2016). Integrated determination of objective criteria weights in MCDM. International Journal of Information Technology & Decision Making, 15(2), 267-283.
  • Zhang, X., Wang, C., Li, E., and Xu, C. (2014). Assessment Model of Ecoenvironmental Vulnerability Based on Improved Entropy Weight Method. The Scientific World Journal, 1-7.

IDOCRIW-Based Analysis of the Financial Performances of the Football Clubs Traded in BIST during the COVID-19 Period

Yıl 2022, Cilt: 6 Sayı: 1, 44 - 65, 23.03.2022

Öz

Today, football has evolved from being just a sport to a commercial product. The football economy in the world has reached a level that will affect the economic life of countries and societies. Clubs that can be seen as football companies rather than football clubs engage in commercial activities and are traded on stock exchanges. The football sector, which has such a large economy, has been seriously affected by today’s epidemic, Covid-19, like all economic activities. This effect has led to an increase in the debt ratio of the clubs in the sector, a decrease in their incomes and economic difficulties. In this context, in this study, the financial performances of Galatasaray, Fenerbahçe, Beşiktaş and Trabzonspor clubs, traded in BIST and named as Turkey’s four biggest clubs, in the 2019-2020 and 2020-2021 periods were tried to be analyzed. In the study, current ratios, acid - test ratios, cash ratios, debt ratios, debt/equity ratios and net profit margins were determined as criteria in the light of the financial data of the clubs, and each of these criteria was analyzed by weighting with the IDOCRIW method, which combines Entropy and CILOS methods and then the alternatives were compared with the WASPAS method using IDOCRIW criterion weights. As a result of the study, consistent and similar results were obtained. It has been determined that there are significant differences in criterion importance weights between the 2019-2020 and 2020-2021 periods, and the cash ratio is the lowest criterion for all clubs. In addition, as a result of the ranking made by the WASPAS method, it was revealed that the best performing company in both periods was BJKAS.

Kaynakça

  • Batmunkh, E. (2021). Role of Football in International Business and Economy. Management Science and Business Decisions, 1(2), 39-56.
  • Cereška, A., Zavadskas , E., Cavallaro, F., Podvezko, V., Tetsman, I., and Grinbergiene, I. (2016). Sustainable assessment of aerosol pollution decrease applying multiple attribute decision-making methods. Sustainability (8), 586.
  • Chakraborty, S., and Zavadskas, E. K. (2014). Applications of WASPAS method in manufacturing decision making. Informatica, 25 (1), 1-20.
  • Dahooie, J., Raafat, R., Qorbani, A., and Daim, T. (2021). An intuitionistic fuzzy data-driven product ranking model using sentiment analysis and multi-criteria decision-making. Technological Forecasting and Social Change(173), 121158.
  • Demirci, F. (2017). Entropi tabanlı topsıs yöntemiyle borsa İstanbul’da işlem gören futbol kulüplerinin sportif, finansal ve finansal fair play performanslarının karşılaştırmalı analizi. Yüksek Lisans Tezi, Bartın Üniversitesi, Sosyal Bilimler Enstitüsü.
  • Dimitropoulos, P., and Limperopoulos, V. (2014). Player contracts, athletic and financial performance of the Greek football clubs. Global Business Economy Review, 16(2), 123-141.
  • Drewes, M., Daumann, F., and Follert, F. (2021). Exploring the sports economic impact of COVID-19 on professional soccer. Soccer & Society, 22(1-2), 125-137.
  • EkoLig. (2020). Covid-19 Öncesi ve Sonrasında Futbol Ekonomisi Raporu. AktifBank. https://www.aktifbank.com.tr/Documents/aktif-bank-ekolig-covid-19.pdf, Erişim Tarihi: 10.12.2021.
  • Elden Ürgüp, S., ve Demir , E. (2021). Finansal Performans İle Sportif Başarı Arasındaki İlişkinin Belirlenmesi: Türkiye'deki 4 Büyük Futbol Kulübü Üzerine Bir Analiz. FESA Dergisi, 6 (2), 240-250.
  • https://ec.europa.eu/eurostat/statistics-xplained/index.php?title=International_trade_in_sporting_goods Erişim Tarihi: 18.12.2021.
  • Güngör, N., ve Sarı, E. (2021). Bist 100'de yer alan futbol kulüplerinin sportif başarıları ve finansal performansları arasında ki ilişkinin analizi. Yönetim Bilimleri Dergisi, 19(Özel Sayı), 165-186.
  • Hamil, S., and Chadwick, S. (2010). Introduction and Market Overview. S. Hamil, & S. Chadwick içinde, Managing Football: An International Perspective (s. 3). OXFORD: Butterworth-Heinemann.
  • Hammerschmidt, J., Durst, S., Kraus, S., and Puumalainen, K. (2021). Professional football clubs and empirical evidence from the COVID-19 crisis: Time for sport entrepreneurship? Technological Forecasting & Social Change(165), 120572.
  • Hashemkhani Zolfani, S., Aghdaie, M. H., Derakhti, A., Zavadskas, E. K., and Varzandeh, M. M. (2013). Decision making on business issues with foresight perspective; an application of new hybrid MCDM model in shopping mall locating. Expert Systems with Applications, 40(17), 7111–7121.
  • https://brandday.net: https://brandday.net/genel/2021/11/06/turkiyede-futbol-ekonomisindeki-son-gelismeler-ne-yonde/ Erişim Tarihi: 13.12.2021.
  • https://www.kap.org.tr/tr/Sektorler: https://www.kap.org.tr/tr/Sektorler Erişim Tarihi: 28.11.2021.
  • https://www.tff.org/default.aspx?pageID=687&ftxtID=33547 Erişim Tarihi: 20.12.2021.
  • https://www.transfermarkt.com.tr/super-lig/startseite/wettbewerb/TR1 Erişim Tarihi: 10.12.2021.
  • https://www2.deloitte.com/content/dam/Deloitte/tr/Documents/technology-media-telecommunications/2021e-baslarken-avrupada-ve-turkiyede-futbol-ekonomisi.pdf Erişim Tarihi: 22.12.2021.
  • Ika, S., Udin, K., Nugroho, J., and Koenti, I. (2021). Assessing the Financial Performance of English Football Clubs: Arsenal and Manchester City. 3rd International Conference of Banking, Accounting, Management and Economics (ICOBAME) (s. 57-62). Atlantis Press.
  • Kızıl, C., ve Aslan, T. (2021). Finansal Performansın Yüzde Yöntemi ile Analizi: Galatasaray A.Ş.’ye Yönelik Bir Uygulama. Uluslararası Toplum Araştırmaları Dergisi, 18(44), 2528-9535.
  • Liu, L., Zhou, J., An, X., Zhang, Y., and Yang, L. (2010). Using fuzzy theory and information entropy for water quality assessment in Three Gorges region, China. Expert Systems with Applications, 37(3), 2517–2521.
  • Lotfi, F., and Fallahnejad, R. (2010). Imprecise Shannon’s entropy and multi attribute decision making. Entropy, 12(1), 53-62.
  • Özbek, A. (2021). Çok Kriterli Karar Verme Yöntemleri. Ankara: Seçkin.
  • Pala, O. (2021). IDOCRIW ve MARCOS Temelli BIST Ulaştırm İşletmelerinin Finansal Performans Analizi. KAÜİİBFD, 12(23), 263-294.
  • Paradowski, B., Shekhovtsov, A., Bączkiewicz, A., Kizielewicz, B., and Sałabun, W. (2021). Similarity Analysis of Methods for Objective Determination of Weights in Multi-Criteria Decision Support Systems. Symmetry(13), 1874.
  • Parnell, D., Bond, A., Widdop , P., and Cockayne, D. (2021). Football Worlds: Business and networks during COVID-19. Soccer & Society, 22(1-2), 19-26.
  • Podvezko, V., Kildienė, S., and Zavadskas, E. (2017). Assessing the Performance of the Construction Sectors in the Baltic States and Poland. PANOECONOMICUS, 64(4), 493-512.
  • Shannon, C. (1948). A mathematical theory of communication. The Bell system technical journal, 27(3), 379-423.
  • Sharma, S., Singh, G., Sharma, R., Jones, P., Kraus, S., and Dwivedi, Y. (2020). Digital health innovation: exploring adoption of COVID-19 digital contact tracing apps. IEEE Transactions on Engineering Management.
  • Simić, V., Lazarević, D., and Dobrodolac, M. (2021). Picture fuzzy WASPAS method for selecting last-mile delivery mode: a case study of Belgrade. European Transport Research Review, 13(1), 1-22.
  • Stojić , G., Stević, Ž., Antuchevičienė, J., Pamučar , D., and Vasiljević, M. (2018). A novel rough WASPAS approach for supplier selection in a company manufacturing PVC carpentry products. Information, 9(8), 121-138.
  • Toma, S., and Catana, S. (2021). The Value of Brand In The Football Industry. Annals-Economy Series (1), 27-31. Tovar, J. (2020). Performance, Diversity and National Identity Evidence from Association Football. Economic Inquiry, 58(2), 897-916.
  • Turskis, Z., Zavadskas, E. K., Antucheviciene, J., and Kosareva, N. (2015). A Hybrid Model Based on Fuzzy AHP and Fuzzy WASPAS for Construction Site Selection. International Journal of Computers communications & control, 10(6), 113-128.
  • Uluyol, O. (2014). Finansal performans ile sportif başarı arasındaki ilişkinin belirlenmesi: Türkiye'deki 4 büyük futbol kulübü üzerine bir analiz. Yaşar Üniversitesi E-Dergisi, 9(34), 5716-5731.
  • Wang, J.-J., Jing, Y.-Y., Zhang, C.-F., and Zhao, J.-H. (2009). Review on multi-criteria decision analysis aid in sustainable energy decision-making. Renewable and Sustainable Energy Reviews, 13(9), 2263-2278.
  • Zavadskas, . (1987). Integrated Resource Assessment and Selection Decisions in Construction. Vilnius, Lithuania: Mokslas Vilnius.
  • ‬Zavadskas, E. K., Antucheviciene, J., Šaparauskas, J., and Turskis, Z. (2013). Multi-criteria assessment of facades’ alternatives: peculiarities of ranking methodology. Procedia Engineering(57), 107–112.
  • Zavadskas, E. K., Turskis, Z., Antucheviciene, J., and Zakarevicius, A. (2012). Optimization of weighted aggregated sum product assessment. Elektronika Ir Elektrotechnika, 122(6), 3-6.
  • Zavadskas, E., and Podvezko, V. (2016). Integrated determination of objective criteria weights in MCDM. International Journal of Information Technology & Decision Making, 15(2), 267-283.
  • Zhang, X., Wang, C., Li, E., and Xu, C. (2014). Assessment Model of Ecoenvironmental Vulnerability Based on Improved Entropy Weight Method. The Scientific World Journal, 1-7.
Toplam 41 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

Şifa Kırhasanoğlu 0000-0002-0214-3166

Murat Özdemir 0000-0001-6608-6511

Yayımlanma Tarihi 23 Mart 2022
Kabul Tarihi 15 Mart 2022
Yayımlandığı Sayı Yıl 2022 Cilt: 6 Sayı: 1

Kaynak Göster

APA Kırhasanoğlu, Ş., & Özdemir, M. (2022). BIST’TE İŞLEM GÖREN FUTBOL KULÜPLERİNİN COVID-19 DÖNEMİ FİNANSAL PERFORMANSLARININ IDOCRIW TEMELLİ ANALİZİ. Enderun, 6(1), 44-65.