WARNING SIGNS OF THE 2008 ECONOMIC CRISIS AND AN APPLICATION ON THE MANIFACTURING FIRMS TRADED IN THE ISTANBUL STOCK EXCHANGE

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The purpose of this study is to search whether economic crisis will be predicted beforehand by investigating the relations between several financial ratios and 2008 economic crisis. To obtain this, the changes of financial ratios has been analyzed during the 2006-2010 yearly term which includes the years before and after the economic crisis. In this study, trend analysis method and seven financial ratios of Adana Cimento, Arcelik, Ford Otomotiv and Ulker Gıda Companies which are traded in the Istanbul Stock Exchange has been used. At the end of the study, since, stock turnover, profitability ratios and financial leverage ratio (total debt/total asset) has changed before the 2008 economic crisis, it has been reached to the result that these ratios can be warning signs for the economic crisis occured in the 2008.

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Economic crisis , financial ratios , economic crisis forecasting

Journal Of Economics and Administrative Sciences, Ataturk University

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Journal Of Economics and Administrative Sciences, Ataturk University