Predicting Companies Financial bankruptcy Listed in Tehran Stock Exchange using ANN, ANFIS, LOGIT

Authors

Semnan University

Abstract

Banks as the main financial system plays a key role in financing different economic sectors are responsible.One of the most important topics discussed in the area of financial management and financial marketing is investors’ ability to tell favorable investment opportunities from unfavorable ones and managers have effective and efficient financial management of their financial resource. One way to help investors is to present firm’s financial bankruptcy prediction models. So far, different techniques have been used to design this models.As recent studies in the field of financial bankruptcy prediction have focused on creation and application of artificial intelligence and machine learning methods,Adaptive Neural Fuzzy Inference Systems(ANFIS) and artificial neural Network(ANN) and logit regression(LR) are used in the present study as a comparative model and for the implementation of the models,the matlab2015version is used to Companies’ financial bankruptcy prediction.the Sample under study includes71failed companies and74safe companies that were chosen over a period of 5 years from 1389 to 1394. Research Findings suggest that in Companies’ financial bankruptcy prediction, the model based on artificial neural network.has a higher overall accuracy than the model based on,Adaptive Neural Fuzzy Inference Systems and logit regression.

Keywords