Prediction of Financial Failure in Borsa Istanbul Insurance Companies with the Altman Z” Score and Ohlson’s O-Model

Authors : Cemil Şenel, Bengü Berika Kalfa

Pages : 27-52

Doi:10.26745/ahbvuibfd.1523077

View : 78 | Download : 111

Publication Date : 2025-04-18

Article Type : Research Paper

Abstract :The financial performance of companies has always been a subject of interest for both researchers and investors. There are many methods used to measure financial performance. Despite many methods, it is still not possible to clearly measure whether companies are financially successful or unsuccessful. In this study, the financial failure levels of insurance companies operating in Borsa Istanbul are analyzed. The main purpose of this study is to analyze the financial status of insurance companies operating in Borsa Istanbul and to determine the risk of financial failure by using Altman Z\\\" Score and Ohlson’s O-Score models. In the study, the financial failure situations of five insurance companies operating in Borsa Istanbul during the period 2018-2022 were evaluated with the Altman Z\\\" Score model and Ohlson’s O-Score model using financial statements, income statements and balance sheet data. As a result of the analysis, according to the Altman Z\\\" Score model, the financial failure status of the insurance companies in Borsa Istanbul is \\\"Gray Area\\\" for all years for three insurance companies and \\\"Failed\\\" for all years for the other two insurance companies. Similar results were obtained in the analysis with Ohlson’s O- score model.
Keywords : Finansal Başarısızlık, Sigorta, Altman Z” Skor Modeli