Abstract
A Panel Data Analysis on Financial Fragility of Logistics Firms Operating in the Southeastern Anatolia Region
This study aims to contribute to the literature by examining the phenomenon of
financial fragility, from the point of logistics sector, which is a rapidly developing sector,
for Southeastern Anatolia Region. 21785 observations were obtained by using the data
of 2669 companies between 2006-2019. The data was taken from the Entrepreneur
Information System of the Ministry of Industry and Technology of the Republic of Turkey.
With these data, an answer was sought to the question of which and how factors affect
the financial fragility of logistics companies operating in the Southeastern Anatolia
Region. Altman-Z Score was used as a measure of financial fragility, and Rate on Equity,
Current Ratio, Leverage Ratio, Debt to EBITDA and Long-Term Debt Ratio were used
as explanatory variables. According to the results, it has been determined that there
is a negative relationship between Current Ratio and financial fragility, and Leverage
Ratio and Long-Term Debt Ratio directly related with financial fragility. There are no
statistically significant results between the Rate on Equity, Debt to EBITDA and financial
fragility in the context of logistics companies operating in the Southeastern Anatolia
Region.
Keywords
Logistics industry, Financial fragility, Financial sustainability Regional economy, Panel data analy
