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AN EMPIRICAL STUDY TO MODEL CORPORATE FAILURES IN TURKEY: A MODEL PROPOSAL USING MULTIVARIATE ADAPTIVE REGRESSION SPLINES (MARS)

Yıl 2011, Cilt: 2011 Sayı: 2, 1 - 21, 01.12.2011

Öz

This paper is prepared to model financial distress cases in Turkey using a non-parametric technique, Multivariate Adaptive Regression Splines (MARS). For this purpose, a sample of 114 firms with 665 annual observations between the years 1994 and 2003 was used to predict financial distress for one year prior failure. Our modeling study on 41 independent variables, 39 financial data-based and 2 non-financial, has resulted in a condensed model including 10 basis functions based on 8 original variables. The final model has an overall rate of correct classification of 81,8 % and is proved to be significantly superior to a naïve model. Its Type I and Type II performances are respectively 91,5 % and 80,9 %. Furthermore, profitability performance, capital structure decisions, and macroeconomic conditions are found to be the major determinants that influence Turkish firms’ risk profiles.

Kaynakça

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Toplam 1 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Bölüm 2011/2 Makaleler
Yazarlar

Mehmet Sabri Topak Bu kişi benim

Yayımlanma Tarihi 1 Aralık 2011
Yayımlandığı Sayı Yıl 2011 Cilt: 2011 Sayı: 2

Kaynak Göster

APA Topak, M. S. (2011). AN EMPIRICAL STUDY TO MODEL CORPORATE FAILURES IN TURKEY: A MODEL PROPOSAL USING MULTIVARIATE ADAPTIVE REGRESSION SPLINES (MARS). Sosyal Bilimler Metinleri, 2011(2), 1-21.
AMA Topak MS. AN EMPIRICAL STUDY TO MODEL CORPORATE FAILURES IN TURKEY: A MODEL PROPOSAL USING MULTIVARIATE ADAPTIVE REGRESSION SPLINES (MARS). Sosyal Bilimler Metinleri. Aralık 2011;2011(2):1-21.
Chicago Topak, Mehmet Sabri. “AN EMPIRICAL STUDY TO MODEL CORPORATE FAILURES IN TURKEY: A MODEL PROPOSAL USING MULTIVARIATE ADAPTIVE REGRESSION SPLINES (MARS)”. Sosyal Bilimler Metinleri 2011, sy. 2 (Aralık 2011): 1-21.
EndNote Topak MS (01 Aralık 2011) AN EMPIRICAL STUDY TO MODEL CORPORATE FAILURES IN TURKEY: A MODEL PROPOSAL USING MULTIVARIATE ADAPTIVE REGRESSION SPLINES (MARS). Sosyal Bilimler Metinleri 2011 2 1–21.
IEEE M. S. Topak, “AN EMPIRICAL STUDY TO MODEL CORPORATE FAILURES IN TURKEY: A MODEL PROPOSAL USING MULTIVARIATE ADAPTIVE REGRESSION SPLINES (MARS)”, Sosyal Bilimler Metinleri, c. 2011, sy. 2, ss. 1–21, 2011.
ISNAD Topak, Mehmet Sabri. “AN EMPIRICAL STUDY TO MODEL CORPORATE FAILURES IN TURKEY: A MODEL PROPOSAL USING MULTIVARIATE ADAPTIVE REGRESSION SPLINES (MARS)”. Sosyal Bilimler Metinleri 2011/2 (Aralık 2011), 1-21.
JAMA Topak MS. AN EMPIRICAL STUDY TO MODEL CORPORATE FAILURES IN TURKEY: A MODEL PROPOSAL USING MULTIVARIATE ADAPTIVE REGRESSION SPLINES (MARS). Sosyal Bilimler Metinleri. 2011;2011:1–21.
MLA Topak, Mehmet Sabri. “AN EMPIRICAL STUDY TO MODEL CORPORATE FAILURES IN TURKEY: A MODEL PROPOSAL USING MULTIVARIATE ADAPTIVE REGRESSION SPLINES (MARS)”. Sosyal Bilimler Metinleri, c. 2011, sy. 2, 2011, ss. 1-21.
Vancouver Topak MS. AN EMPIRICAL STUDY TO MODEL CORPORATE FAILURES IN TURKEY: A MODEL PROPOSAL USING MULTIVARIATE ADAPTIVE REGRESSION SPLINES (MARS). Sosyal Bilimler Metinleri. 2011;2011(2):1-21.