Abstract:

The main purpose of the study is to propose the Operational Competitiveness Rating Analysis (OCRA) and COmplex Proportional ASsessment (COPRAS) methods to measure the financial competitiveness of companies in initial public offerings. For this, in the first stage, the financial competitiveness of the companies that were offered to the public for the first time in 2021 on Borsa Istanbul was calculated according to the OCRA method. Then, as a proof of the accuracy of the findings obtained, they were compared with the findings calculated according to the COPRAS method. For these calculations, 19 alternative companies and 10 generally accepted criteria were used. In addition, the CRiteria Importance Through Intercriteria Correlation (CRITIC) method, which is an objective evaluation criterion, was used to determine the importance weights of the criteria. The relationship between the ranking scores obtained from the methods was examined with the Spearman rank correlation. Accordingly, there is a strong positive correlation of 74.20 percent between the ranking scores of the two methods before a ranking is made. In addition, after ranking the scores from high to low, there is a positive absolute rank correlation relationship. The results obtained are statistically significant.

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