PREDICTION OF FINANCIAL DISTRESS BY MULTIVARIATE STATISTICAL ANALYSIS: THE CASE OF FIRMS TAKEN INTO THE SURVEILLANCE MARKET IN THE ISTANBUL STOCK EXCHANGE

被引：1

作者：

Canbas, Serpil ^{[1
]}

Onal, Yildirim B. ^{[1
]}

Duzakin, Hatice G. ^{[1
]}

Kilic, Suleyman B. ^{[1
]}

机构：

[1] Cukurova Univ, Dept Management, Fac Econ & Adm Sci, Adana, Turkey

来源：

INTERNATIONAL JOURNAL OF THEORETICAL AND APPLIED FINANCE | 2006年 / 9卷 / 01期

关键词：

Surveillance firms; financial distress; principal component analysis; discriminant analysis;

D O I：

10.1142/S0219024906003470

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The purpose of this paper is to investigate whether or not firms that are taken into the surveillance market in Istanbul Stock Exchange are experiencing financial distress. The surveillance firms present irregular behaviors and have difficulty complying with current regulation. It can be expected that the basic reason behind these irregular behaviors is financial distress. Results of the study support this expectation and show that it is possible to predict financial distress one year in advance. Principal component analysis and discriminant analysis are combined in order to estimate an integrated early warning model for financial distress prediction.

引用

页码：133 / 150

页数：18

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