Effect of EVA, CFROI, MVA and CVA Methods on Shareholders Value Maximization and Financial Performance Estimation: An Empirical Study
Kemal Yaman | Seda Topal
With the globalization of markets, competition and performance pressure have accelerated. Investors rightfully expect a reasonable return on the capital they make available to others. Since companies often achieve their growth through capital obtained from new shareholders, the pressure on company profitability increases significantly. The capital market rewards companies' good performance and also punishes their bad performance. At this point, Economic Value Added (EVA), Cash Flow Return on Investment (CFROI), Cash Value Added (CVA) and Market Value Added (MVA), which ensure value maximization, have become increasingly important problems. For this reason, company profitability and growth potential are important. Within the scope of this study, the importance of EVA, CFROI, CVA and MV...
Financial Performance and Bankruptcy Risk Analysis: An Application on Private Health Insurance Companies in Turkey
Neslihan Karavar | Kemal Yaman
This research evaluates the correlation between the financial performances of seven insurance companies operating in Turkey from 2018 to 2022 and their risk of bankruptcy. In the study, data obtained from the year-end financial statements of the companies were used, weights were assigned to the criteria determined by the ENTROPY methodology, and the performance rankings of the companies were obtained using the WASPAS method. The Altman-Z model was applied to determine the risk of bankruptcy. The decisive criteria in the financial performance ranking are profitability ratios such as Asset Profitability, Equity Profitability, and Net Profit Margin. While Turkey Insurance and Anadolu Insurance's leadership positions in the sector were identified, Ray Insurance and Mapfre Insurance were d...