Vol. 12 No. 4 (2024): Business & Management Studies: An International Journal
Articles

Prediction of financial distress of companies listed in the BIST tourism index using The Altman Z-Score model

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  • Müjdat Ertürk
Müjdat Ertürk
Assoc. Prof. Dr., Ankara Hacı Bayram Veli University, Ankara, Turkiye

Published 2024-12-25

Keywords

  • Financial Distress, Altman Z-Score Model, XTRZM
  • Finansal Başarısızlık, Altman Z-Skor Modeli, XTRZM

How to Cite

Prediction of financial distress of companies listed in the BIST tourism index using The Altman Z-Score model. (2024). Business & Management Studies: An International Journal, 12(4), 946-970. https://doi.org/10.15295/bmij.v12i4.2469

Copyright (c) 2024 Müjdat Ertürk

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

How to Cite

Prediction of financial distress of companies listed in the BIST tourism index using The Altman Z-Score model. (2024). Business & Management Studies: An International Journal, 12(4), 946-970. https://doi.org/10.15295/bmij.v12i4.2469

Abstract

Financial failure is one of the main types of failure that causes businesses to experience many problems. If timely measures are not taken to prevent financial failure, consequences that may lead to bankruptcy may emerge. Therefore, predicting possible financial failures is important for companies' future. Various models are used to predict the financial failure of companies and one of these models is Altman Z-Score Model. In this study, the financial success status of 13 companies in the BIST (Borsa Istanbul) Tourism Index was estimated using financial data for 2020-2023 with the Altman Z-Score Model. The company's financial data were obtained from the financial statements obtained from the PDP Platform. As a result of the study, in 2020, 4 companies are at risk, two companies are in the grey zone, seven companies are in the safe zone; in 2021, 5 companies are at risk, eight companies are in the safe zone; in 2022, 2 companies are at risk, four companies are in the grey zone, seven companies are in the safe zone; in 2023, 4 companies are in the grey zone, nine companies are in the safe zone.

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