Investigation of the effect of working capital management on profitability by panel data analysis and multi-criteria decision making techniques

Purpose: The aim of this study is to reveal and compare the effect working capital management on return assets with different analysis methods, based annual financial statement data companies in tourism sector traded Borsa Istanbul (BIST) period 2012-2020. This aimed drawbacks including model variables that are not an element management. Methodology: Panel analysis, analytical hierarchy process fuzzy were used companies. Results: As a result significant relationship was identified between rankings made by using realized ratios obtained AHP FAHP, while no found panel analysis. Conclusion: Including some as variable may cause misinterpretation effects real assets. When emerged according FAHP methods examined, asset turnover rate leverage ratio determined lowest assets, elements weighting opinions experts.