Comparative Empirical Analysis of Financial Failures of Enterprises in ISE Chemical, Petrol, and Plastic Index

Authors : Yahya Sönmez, Arzu Özmerdivanlı

Pages : 1516-1547

Doi:10.30784/epfad.1745499

View : 129 | Download : 167

Publication Date : 2025-12-31

Article Type : Research Paper

Abstract :Businesses can make more accurate financial decisions by taking the right steps in areas such as strategic, financial, operational, and human resource management, and by effectively carrying out financial planning activities. In this way, they can enhance their ability to achieve financial objectives and reduce the risk of financial failure. The aim of this study is to predict the financial failures of the companies listed in the BIST Chemistry, Petroleum, and Plastic Index, to compare their financial performances, and to measure the correlation between the two methods employed. In this study, using the annual data of 40 enterprises for 2019-2023, financial failure was measured using the Altman Z-Score model, and financial performance was measured using the MABAC method. Although there are variations in the financial failure and financial performance of the enterprises over the years, the results are generally similar. In addition, the correlation between the results found according to the Altman Z-score and MABAC method was analysed by Spearman’s rank correlation, and it was determined that there was a correlation between the rankings in five of the five years analysed in the study.
Keywords : Finansal Başarısızlık, Altman Z Skor, MABAC Yöntemi

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