Prediction Of Financial Succes Using Financial Failure Models: An Empiricial Analysis On Firms Listed İn BIST XELKT Index

Mehmet İslamoğlu and Samet Çankaya
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Mehmet İslamoğlu: Karabük University

Journal of Finance Letters (Maliye ve Finans Yazıları), 2018, vol. 33, issue 110, 111-134

Abstract: In the research study, we tried to identify the the existence of the relationship between financial failure and financial performance. In this context, the ratios obtained by using the financial statements of the companies listed in Borsa Istanbul Electricity Index between 2012-2016 years were analyzed by panel data analysis method. As part of the analysis, financial performance was represented by Tobin’s Q ratio, while the Fulmer H score was considered as a measure of financial failure. In addition, the price-earnings ratio and the log of sales that are thought to affect the financial performances are included in the analysis as control variables. According to the analysis results, there is a meaningful but positive relationship between Tobin’s Q ratio and Fulmer H score and the price-earnings ratio, but there is a significant but negative relationship with the log of sales.

Keywords: Financial Distress; Financial Performans; Tobin’s Q; Altman Z-Score (search for similar items in EconPapers)
JEL-codes: G G1 G2 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:acc:malfin:v:33:y:2018:i:110:p:111-134

DOI: 10.33203/mfy.451456

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