Research Information System
Alanya Akademik Bakış, vol.6, no.3, pp.2627-2645, 2022 (Peer-Reviewed Journal)
In this study, financial performances of certain selected non-life insurance
companies operating in Turkey between 2014-2018 are compared with two
multi-criteria decision-making methods. The analytical hierarchy process is
integrated into the grey relational analysis. First, the weights of the financial
ratios are computed with the analytical hierarchy process, and then the
companies are ranked by grey relational analysis using the weights found.
The grey relational analysis results in which the financial ratios are taken as
equally weighted are compared with the results in which the weights found
with the help of the analytical hierarchy process. It is realized that the grey
relational analysis results are affected by the weight of the financial ratios
calculated with the analytical hierarchy process. In addition, it is observed
that the ranking obtained by the combination of grey relational analysis and
analytical hierarchy process is more compatible with the data in the financial
reports.