期刊名称：International Review of Management and Business Research
印刷版ISSN：2307-5953
电子版ISSN：2306-9007
出版年度：2018
卷号：7
期号：2 Par 2
页码：1-13
出版社：Academy of IRMBR
摘要：Since 2008, global crisis promoted individual businesses and multi-national corporations to file for
bankruptcy, creating crucial social implications. Despite the fact that with the intrusion of governments
and financial institutions to encourage the economy that has put corporations in billions of dollar of debt,
reduces the prime rate to almost zero, increases unemployment rate and a decrease in the income rates. A
countless opportunity was available to understand the facts of this economic fallout. It had become
essential to predict the bankruptcy more seriously to minimize the economic crisis for corporate sector. The
objective of the study was to examine the performance of Altman’s Z-score and Distance to Default model
by data analysis to predict the chances of bankruptcy of Turkish stock listed companies between the years
2007 to the year 2016. This study also provides an overview on the subject of bankruptcies and their
harmonic effects on the global economy. The result shows the projection that Z-score model clearly
outperform in predicting the bankruptcy than Distance to Default model. Additionally, this research
provides a better risk management to creditors, small businesses to improve their current operations to
minimize failures and invest in healthy organizations and to short unhealthy ones.
