Analysis of Factors Affecting Financial Bankruptcy Using a Metasynthesis Approach
Subject Areas : Corporate FinanceAli Lalbar 1 , Maryam Sharifnezhad 2 , Maryam Asadi 3
1 - Department of Accounting, Arak Branch, Islamic Azad University, Arak, Iran.
2 - Assistant Professor, Department of Economics, Arak Branch, Islamic Azad University, Arak, Iran
3 - Master's, Accounting Department, Arak Branch, Islamic Azad University, Arak, Iran
Keywords: Shannon entropy, Meta synthesis, bankruptcy, ,
Abstract :
Objective: Today, the bankruptcy of large companies has caused financial bankruptcy to be raised as a very important issue in the financial field, and the effective causes of bankruptcy and, most importantly, the evaluation of bankruptcy with the help of common models are very important. Therefore, the aim of the current study is to analyze the factors affecting financial bankruptcy using a Meta synthesis approach. For this purpose, Research methodology: the results and findings of previous researches (170 scientific articles) in 1400 were evaluated. Then, using Shannon's entropy quantitative method coefficients of effective factors on bankruptcy were determined. Findings: The results of the research indicate that the factors affecting bankruptcy can be classified based on four dimensions, i.e. financial factors, non-financial factors, internal factors and external factors and identified in the form of 27 variables. On the other hand, this research shows the fact that variables such as return on assets, current ratio, ratio of equity to total assets and ratio of working capital to total assets are among the most important factors affecting the bankruptcy of companies. While factors such as the book value of each share and the inventory of goods to current liabilities have been assigned the lowest rank in terms of importance. Originality/scientific added value:Therefore, it is suggested to investors, shareholders and financial managers of institutions to pay special attention to the factors affecting the occurrence of financial bankruptcy identified in this research in their financial decisions.
