Prioritization of factors affecting the exit from the bankruptcy of companies listed in the Tehran Stock Exchange

Companies should evaluate the nature of the crisis after a detailed pathology of the factors causing the problem and look for appropriate solutions to get out of this crisis. This study was conducted on ۱۴۴ companies from ۲۰۱۰-۲۰۲۱ to prioritize the factors affecting the exit from bankruptcy and financial revival of the companies using the analysis of multiplayer artificial neural networks. First, financial ratios obtained from the literature review and expert evaluation were independentist of each other through principal component analysis. Then, the main components affecting exit from bankruptcy under logistic regression models were identified, and finally, the final logistic model for exit from bankruptcy was presented. Based on the results, the essential financial variable in exiting bankruptcy is the change in capital increase policies from the place of stock issuance. The least critical variable is the change in dividend policies.

Keywords:

Bankruptcy , exit from bankruptcy , financial revival , Artificial Neural Network