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All Journal AFEBI Economic and Finance Review
Jain, Mayank
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Economics, Econometrics & Finance

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Deciphering Financial Health and Risk: Hierarchical Relationships and Interdependencies among Key Factors Jain, Mayank; Malik, Taniya
AFEBI Economic and Finance Review Vol. 8 No. 1 (2023): June
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

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Abstract

This study investigates the hierarchical relationships and interdependencies among various financial factors influencing companies' health. By employing Total Interpretive Structural Modeling (TISM) and Matrice d'Impacts Croisés Multiplication Appliquée à un Classement (MICMAC) analyses, the research identifies vital financial factors and their mutual influences. The study's primary findings reveal credit risk as a pivotal, independent factor with a substantial impact on other financial parameters. Furthermore, solvency, capital adequacy, and Tier 1 capital ratios emerge as fundamental determinants of a company's financial health. The MICMAC analysis classifies financial factors into four categories: independent, linkage, autonomous, and dependent. This research offers valuable insights for managers, policymakers, and investors in understanding the financial health of companies, enabling them to make well-informed decisions focusing on critical factors such as credit risk, solvency, and liquidity.
Co-Authors Malik, Taniya