Document Type : Research Paper
Authors
Abstract
We developed three Logit models for estimating the rating of prediction of bankruptcy for listed firms in Tehran Stock Exchange (TSE).
The first phase of study examines the existence of any significance statistical differences between the financial statement data of successful and unsuccessful firms, if there will be any significant association between financial ratios and probability of bankruptcy, we want to see which ratios have a greater association with probability of bankruptcy. There are some significant differences between the two groups, from the financial activity indexes, liabilities position (financial leverage) points of view. However, the differences for liquidity not passed the test of significance.
In this study we developed the Logit model with a Wald methodology to predict the rating of the firms with a reasonable accuracy.
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