Document Type : Original Article (Quantified)
Authors
1 PhD Student in Finance, Department of Financial Management, Faculty of Management and Economics, Islamic Azad University, Science and Research Branch, Tehran, Iran
2 Assistant Professor of Financial Management Department, Department of Financial Management, Faculty of Management and Economics, Islamic Azad University, Science and Research Branch, Tehran, Iran
3 Associate Professor, Department of Accounting, Faculty of Management and Economics, Islamic Azad University, Science and Research Branch, Tehran, Iran
4 Assistant Professor, Department of Law, Faculty of Law, Theology and Political Sciences, Islamic Azad University, Science and Research Branch
5 Associate Professor, Department of Agricultural Economics, Islamic Azad University, Science and Research Branch, Tehran, Iran
Abstract
When some organizations experience a financial crisis and face a challenging and deteriorating operating profit margin, financial recovery means a significant improvement in the operating profit margin and financial health of the organization. The current research has been conducted with the aim of investigating the factors affecting the financial recovery of businesses admitted to the stock exchange. This research uses an interdisciplinary study, with qualitative and quantitative data, and by examining the related legal system, it identifies the shortcomings and gaps, examines the theoretical foundations and background of research in the field of bankruptcy and exit from bankruptcy from a financial perspective. he does. The findings of the research showed that, in the examination of the goodness of fit indices of the model, it can be seen that according to the McFadden coefficient of determination, the use of predictor variables in the final model of financial recovery of companies has been able to improve the likelihood function by 71.25%. It can be concluded that the main forecasting components in the final model have been able to be effective up to 71.25% in the accuracy of detecting the financial recovery of companies. Finally, the analysis of multilayer artificial neural networks in order to evaluate the reliability of the results in diagnosing and prioritizing the financial recovery of companies shows that, considering that the tenth principal component is the most important factor in the financial recovery of companies and based on the magnitude (absolute value) the coefficients of each of the variables in the formation of this component, the order of the importance of financial variables in the financial recovery of companies and their exit from bankruptcy.
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