Document Type : Research Paper
Authors
1
department of Industrial Management, Aliabad Katoul Branch, Islamic Azad University, Aliabad Katoul, Iran
2
Department of Accounting and Management, Aliabad Katoul Branch, Islamic Azad University, Aliabad Katoul, Iran
3
Department of Accounting and Management,m, Aliabad Katoul Branch, Islamic Azad University, Aliabad Katoul, Iran.
4
Department of Mathematics, Aliabad Katoul Branch, Islamic Azad University, Aliabad Katoul, Iran.
Abstract
In the last two decades, economic figures show an unprecedented increase in the number of bankruptcies. The existence of financial crises in a country is an important economic indicator that attracts public attention. Also, the economic costs of bankruptcy are high. Therefore, the ability to predict financial helplessness and prevent its occurrence is of fundamental importance and prevents the inappropriate allocation of scarce economic resources.The importance of predicting financial distress has always been increasing for the ownership of companies, and the world economies today have become aware and sensitive to the risks caused by the obligations and debts of companies, especially after the collapse of large organizations such as Worldcom and Enron. On the other hand, the unfavorable financial situation of companies also causes losses for different sections of the society, especially investors, including shareholders and creditors, who are not only investors, but also senior managers and accountants and auditors are interested in the financial situation of companies scientifically. Therefore, in the current research, identifying and ranking the predicting variables of financial helplessness of the companies listed in the Tehran Stock Exchange was done using the fuzzy approach. The statistical population of this research is academic experts and capital market activists. The results of the research showed that the most important variables predicting the financial distress of companies listed in the Tehran Stock Exchange are: current ratio; instantaneous ratio; debt ratio; cash to assets; working capital to total assets; net sales to total assets; P/E ratio; cash to current liabilities; cash to total assets; current assets to total assets; market value of shares to book value of shares; net profit to total assets; operating profit to total assets; net profit to equity; net profit to net sales; company value; the life of the company; size of the company.
Keywords
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