|
| Years Before the Financial Failure Date | ||||||
| Average Values | One Year | Two Years | Three Years | ||||
| β | Odds Ratio | β | Odds Ratio | β | Odds Ratio | β | Odds Ratio |
Equity Ratio (ER) | −0.024 | 0.976 | −0.024 | 0.976 | −0.025 | 0.975 | −0.022 | 0.978 |
Short-Term Leverage (STL) | −1.241 | 0.291 | −1.165 | 0.312 | −1.39 | 0.249 | −1.167 | 0.311 |
Return-On-Assets (ROA) | −0.097 | 0.908 | −0.121 | 0.886 | −0.093 | 0.911 | −0.076 | 0.927 |
BIST Industrial Index (BII) | 0.180 | 1.197 | 0.151 | 1.162 | 0.194 | 1.214 | 0.195 | 1.215 |
Constant | 1.579 | 4.950 | 1.736 | 5.676 | 1.718 | 5.572 | 1.282 | 3.603 |