Abstract:

The technology industry plays an important role in the development of countries. Private sector companies are the most important representatives of knowledge and technology development. In this context, the identification of the financial status of companies involved in the information and technology sector and the identification of potential risks are critical for the country’s economy. Altman Z-Score was first developed by Edward Altman from the University of New York in 1968. The Z-Score model uses a combination of five financial rates to reveal the financial situation of companies and to predict corporate faults. The Springate S-Skor model was awarded to literature by Gordon L. V. Springate in 1978. The Springate model is a ratio model used to measure the financial situation of companies. The aim of this study is to analyze technology companies operating in Borsa Istanbul (BIST) using Altman Z-Skor and Springate S-Skor financial risk models. For this purpose, the financial data of the fourteen technology-based companies listed in the BIST technology index between 2013 and 2018 have been examined. According to the study, the Altman Z-Skor model has a high predictive power. According to a year earlier data, the forecast consistency of the Altman model is estimated at 100% over all years. The Springate S-Skor model has a prognosis consistency of 78.5% for 2014, 71.4% for 2015, 78.5% for 2016 and 100% for 2017. As a common result of both models, it has been found that companies registered in the BIST technology index have a successful financial performance.

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