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Çalışmada 2013-2017 yılları arasındaBorsa İstanbul (BİST)’de işlem gören Küçük ve OrtaBüyüklükteki İşletmeler (KOBİ)’lerin finansalperformanslarının karşılaştırmalı olarak ölçülmesiamaçlanmıştır. Bu amaçla BİST KOBİ SanayiEndeksinde faaliyet gösteren şirketlerin finansaltablolarından elde edilen bilgilerden yararlanarak;cari oran, stok devir hızı oranı, borç/öz kaynak oranı,borç/aktif oranı, alacak devir hızı oranı, duran varlıkdevir hızı oranı, net kar marjı oranı, aktiflerinkarlılığı, esas faaliyet kar marjı oranı ve satışlarınmaliyeti/net satışlar oranı olmak üzere toplamda 10adet finansal oran kullanılmıştır. Elde edilen finansaloranların ağırlıkları ortalama ağırlık yöntemi ilebelirlenmiş ve BİST KOBİ Sanayi Endeksindefaaliyet gösteren 27 işletmenin finansalperformansları çok kriterli karar vermeyöntemlerinden Gri İlişkisel Analiz (GİA) yöntemiile tespit edilmeye çalışılmıştır.GİA sonuçlarına göre; 2013-2017 zamanperiyodunda en iyi finansal performans gösterenşirketin Politeknik Metal işletmesi, en kötü finansalperformans gösteren şirketin ise Eminiş Ambalajişletmesi olduğu tespit edilmiştir., In the study, it is aimed to measure comparatively the financial performances of Small and Medium Sized Enterprises (SME) traded at Borsa Istanbul (BIST) between 2013-2017. For this purpose, totally 10 financial ratios, particularly current ratio, stock turnover rate, debt / assets ratio, debt to asset ratio, accounts receivables turnover rate, fixed asset turnover rate, net profit margin ratio, assets profitability, operating profit margin ratio and cost of sales / net sales ratio, were used by benefitting the information obtained from the financial statements of companies operating in BIST SME Industry Index. The weights of the obtained financial ratios were determined by Mean Weight (MW) method and the financial performances of the 27 enterprises operating in the BIST SME Industry Index were tried to be determined by using Gray Relational Analysis (TIE) method, one of the multi-criteria decision making methods. According to GIA results, it was determined in the period of 2013-2017 that the company which had the best financial performance was the Polytechnic Metal and that the company which had the worst financial performance was the Eminis Packaging Company.

this study is to discuss the factors that affect share prices in both micro- and macro-economic point of view using dynamic panel data analysis.In this study, quarterly balance sheets and income statements of manufacturing firms, which were publicly traded in Borsa Istanbul between 2005 and 2011 and which displayed continuity, were used to measure effects of the microeconomic factors. Microeconomic factors, namely firm-specific factors or financial ratios consist of liquidity, profitability, activity, leverage, and stock exchange performance ratios. As to macroeconomic factors, they consist of exchange rate, inflation rate, money supply, interest rate, GDP, gold prices, oil prices, balance of trade, and industrial production index. As a result of the analysis in this study, direction of the relationship between micro- and macro- economic factors, and the share price has been determined