Abstract
The purpose of this study is to find out the financial performances of the companies by using TOPSIS, one of the mostly used multi-criteria decision-making methods, and also to measure the relationship between stock returns and the financial performances with financial ratios. For this reason, selected 4 companies trading at Borsa Istanbul Food Index and their 20 financial ratios between 2000:4 and 2014:3 are used in the study. Finally the relations are investigated by Correlation Analysis. According to analysis, there is no relationship between TOPSIS financial performance scores and return on stocks. When we look at the relationship between financial ratios and return on stocks, there is no significant relationship among variables in 3 out of 4 companies. However, there is a significant positive statistical relationship with only one company. Research results show that stock prices are determined by external factors rather than internal factors in small companies
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