Özet:

The aim of this study is to analyze the variables that affect the risk of financial failure of residential in European countries. For this purpose, the financial data of a total of 63 accommodation enterprises that trade shares between 2012-2019 in the 19 countries in the European continent were analyzed by the method of generalized moments. In the analysis, the Fulmer H Score value, which is the financial failure standard as a dependent variable, is used, while the active profitability, the market value/register value ratio and the business size as independent variables are included in the model. The analysis found that the risk of financial failure decreased as the active profitability and business size increased in the housing enterprises. The rate of market value/register value has not been determined to have an impact on the risk of financial failure.

Özet:

The aim of this research is to analyze the variables that affect the financial failure risk of lodging companies in European countries. For this purpose, the generalized method of moments analysis was performed on the financial data of 63 lodging companies whose stocks were traded between the years 2012-2019 in the stock exchanges of 19 countries in the European continent. While the Fulmer H Score value, which is the financial failure criterion, is used as the dependent variable in the analysis, return on assets, market to book value ratio and firm size are included in the model as independent variables. As a result of the analysis, it has been determined that as the return on assets and firm size increase in lodging companies, the risk of financial failure decreases. It has been determined that the market to book value ratio does not have an effect on the financial failure risk.

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