期刊名称：International Journal of Finance and Accounting
印刷版ISSN：2168-4812
电子版ISSN：2168-4820
出版年度：2016
卷号：5
期号：2
页码：77-89
DOI：10.5923/j.ijfa.20160502.02
语种：English
出版社：Scientific & Academic Publishing Co.
摘要：This paper examined the ability of accounting data in predicting financial distress over different periods of time. As proxies for accounting data, the study considered four groups of financial ratios namely: Liquidity, asset management, financial structure and profitability. In this way, the study developed financial ratio-based models with one year (t-1) and two years (t-2) prior to the financial distress. Also, a crossover design (i.e. a dataset including t-1 and t-2 data) was implemented. All the models were developed using one type of Generalized Linear Models known as logistic regression since it is appropriate for categorical (binary) response variables such as financial status (distressed or non-distressed). Data used was obtained from companies in the manufacturing industry listed on Istanbul Stock Exchange (Borsa Istanbul) considering the 2009-2013 period. As a main result, variables used yielded a reliable model only at t-1.
