The Relationship Between Financial Distress and Ownership Structure: A Research in İstanbul Stock Exchange

Authors

  • Bilge Leyli Elitaş Yalova Üniversitesi İktisadi ve İdari Bilimler Fakültesi Uluslararası Ticaret ve Finansman Bölümü Yalova, Türkiye
  • Mesut Doğan Afyon Kocatepe Üniversitesi Bayat Meslek Yüksekokulu İşletme Yönetimi Bölümü Afyonkarahisar, Türkiye
  • Mustafa Kevser Yalova Üniversitesi İktisadi ve İdari Bilimler Fakültesi Uluslararası Ticaret ve Finansman Bölümü Yalova, Türkiye

Keywords:

Financial Distress, Z Altman, Istanbul Stock Exchange

Abstract

The aim of this study is to investigate the relationship between financial distress and ownership structure. In this study, 112 firms’ data have been used for the time period of 2005-2009 which are operating in the İstanbul Stock Exchange (BIST) Industrial Index. Z Altman Score was used for measuring the probability of financial distress. As a result of the developed robust estimator, ownership concentration and free float ratio has negative relation with financial distress, in contrast there is a positive relation between institutional ownership and financial distress. Additionally, statistically significant relation between foreign ownership and financial distress was not detected.

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Published

2021-06-13

How to Cite

Elitaş, B. L., Doğan, M., & Kevser, M. (2021). The Relationship Between Financial Distress and Ownership Structure: A Research in İstanbul Stock Exchange. Journal of Business Research - Turk, 9(4), 787–804. Retrieved from https://isarder.org/index.php/isarder/article/view/498

Issue

Vol. 9 No. 4 (2017)

Section

Articles

License

Creative Commons License

This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.