Borsada İşlem Sırası Kapanmaları için Tahmin Modeli: Borsa İstanbul Örneği
Prediction Model for Delistings: Empirical Evidence from Borsa İstanbul

Summary/Abstract: Purpose – The aim of the research is to develop a model to predict involuntary delisting from Borsa Istanbul and to test its predictive power. Design/methodology/approach – The scope of the research consists of 79 delisted firms in Borsa Istanbul in the period of 2000-2018. Sample of the research, covering control group, is 147 firms. The model is based on the literature of failure. The variables selected for the model are classified in six dimensions: “liquidity”, “profitability”, “leverage and solvency”, “efficiency”, “market multiples” and “size”. In the research, considering the limited size of data in the research sample, the logistic regression method is applied. While determining the variables to be included in the logistic model, in addition to correlation coefficients, the dimensions of the variables and the number of uses in the literature are also taken into account. At the end of the selection process among 22 financial ratios, 11 financial ratios are used in the model as independent variables.

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