EVALUATION OF THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCE BY ENTROPY BASED TOPSIS METHOD: A STUDY ON FOOD AND BEVERAGE COMPANIES TRADED ON THE ISTANBUL STOCK EXCHANGE (BIST)

In many studies it is addressed that corporate governance practices have a positive impact on the financial performance of companies. This study aims to evaluate the relationship between corporate governance practices and financial performances by using the Entropy Based TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) method. Unlike other studies in the literature, this study focuses on the relationship between corporate governance and financial performance. For this purpose, 5 food and drink companieslisted in Istanbul Stock Exchange (BIST) in the Corporate Governance Index (XKURY) for the years between2013-2016 period were examined in terms of corporate governance and financial performance. According to the result it is found that there is no continuous and significant relationship between corporate governance ranking and financial performance ranking among these five companies