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

Author

Listed:
  • Mehmet İslamoğlu

    (Karabük University)

  • Samet Çankaya

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.

Suggested Citation

  • Mehmet İslamoğlu & Samet Çankaya, 2018. "Prediction Of Financial Succes Using Financial Failure Models: An Empiricial Analysis On Firms Listed İn BIST XELKT Index," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 33(110), pages 111-134, October.
    • Handle: RePEc:acc:malfin:v:33:y:2018:i:110:p:111-134
    DOI: https://doi.org/10.33203/mfy.451456
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    More about this item

    Keywords

    Financial Distress; Financial Performans; Tobin’s Q; Altman Z-Score;
    All these keywords.

    JEL classification:

    • G - Financial Economics
    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services

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