Recognition of Efficient Factors Affecting in companie's bankruptcy using TOPSIS_AHP

In company’s bankruptcy, stockholders, creditors and other stakeholders incurred lose and got affected. Thus, before any decisions, it is necessary to consider whether there is any signs of bankruptcy. In this research, after recognition of influencing variables on companies’ bankruptcy, quantitative variables were extracted from bankrupt companies’ financial statements and a questionnaire was used to measure these quantitative variables importance level. Afterwards, we ranked recognized factors using TOPSIS_AHP technique. After recognition and ranking efficient variables in bankruptcy, it was revealed that the most important factor of bankruptcy is the lack of market understanding. The ratio of total debts to total assets and managers attitudes were recognized as other key factors in bankruptcy.