Analysis of intermediary firms under the Capital Market Board with multivariate statistical techniques master's

The economic crisis in capital markets makes the markets insecure and reduces capital mobility, so it retards the development of the national economy. Financial position of intermediary firms, which serve as a bridge between the entities supplying fund and demanding fund, is important to establish the confidence of markets. To make capital markets trustworthy and stable, firstly financial structure of intermediary firms must be kept under control and potential failure of intermediary firm must be determined early.Accordingly, in this study, 90 intermediary firms under the capital market board were analyzed in the term 2008-2011. Due to operational systems of intermediary firms in the market, intermediary firms are different from the other firms in economy. So, firstly the 32 financial ratios were determined which may explain the failure of intermediary firms. Then, discriminant and logistic regression analysis were applied. As a result of the analyses, both discriminant and logistic regression analyses are successful, but logistic regression analysis makes classification more successfully. Key Words 1. Discriminant Analysis 2. Logistic Regression Analysis 3. Capital Market 4. Intermediary Firm