Measuring Corporate Governance Maturity Level with CRITIC-based ARAS Method

Corporate governance is a concept that increases the efficiency of companies, plays an important role in gaining the trust of investors, provides foresight in achieving the company's long-term goals, and guides how to audit the company's performance. The performance success of corporate governance principles on a company basis can be demonstrated by the measurability of the Corporate Governance Maturity Level (CGML). In this context, the aim of the study is to evaluate the sectoral group-based performances of companies traded in Borsa Istanbul through MCDM methods, based on the Corporate Governance Maturity Index data calculated by the Central Securities Depository of Türkiye for the 2023 period. The CRITIC method was used to weight the criteria, and the ARAS method was used to rank the alternatives. It has been observed that the ranking results obtained by the ARAS method generally differ with the general scores and rankings calculated by the Central Securities Depository of Türkiye (MKK).