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Predicting Financial Distress in Tehran Stock Exchange | ||
| International Journal of Business and Development Studies | ||
| مقاله 4، دوره 9، شماره 1، زمستان 2017، صفحه 67-90 اصل مقاله (470.49 K) | ||
| شناسه دیجیتال (DOI): 10.22111/ijbds.2017.3398 | ||
| نویسندگان | ||
Mohammad Nazaripour ؛ Aram Mohammadi
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| چکیده | ||
| Companies incur significant costs from the financial distress. Predicting financial distress will have an important role in preventing bankruptcy. The aim of the present study is to predict the financial distress costs using the Leland and Toft models, during 1996 and 1998. This study examines data relating to 49 companies listed in the Tehran stock exchange collected over ten years from 2005 to 2014. Leland and Toft model (1996) considers the financial distress costs and benefits from the tax shield in general. However, Leland and Toft model (1998) considers the financial distress costs and benefits from the tax shield in detail by using parameter. According to the research findings, the companies working in automotive industry are bankrupt, but the companies working in food and beverage, pharmaceutical, base metals and cement industries have a good distance from financial default. The results help to improve the decision-making process and to avoid the financial distress. | ||
| کلیدواژه‌ها | ||
| Financial Distress؛ Tax Shield؛ Leland and Toft model؛ Tehran Stock Exchange | ||
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آمار تعداد مشاهده مقاله: 536 تعداد دریافت فایل اصل مقاله: 699 |
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