HRMARS - Purpose: Technology companies play a central role in driving technological advancements, serving as catalysts for economic growth, societal transformation, and innovation. Their ability to introduce cutting-edge products, improve efficiency, and shape consumer behavior underscores their strategic importance in the global economy. Consequently, analyzing their financial performance is essential, not only to understand their current financial standing but also to gauge their resilience and long-term sustainability. This study aims to assess the financial distress level of companies in the technology sector using the Grover model. Design/methodology/approach: A total of 24 companies are investigated to determine their levels of financial distress over the period from the year 2021 to 2024. The Grover model is a financial distress prediction tool that effectively identifies the financial distress levels of companies by categorizing them into safe, grey, or distress zones based on calculated G-scores. Findings: The findings of this study reveal that the technology companies analyzed fall within the safe zone across the four-year study period, demonstrating overall financial stability. Notably, the top five performing companies are UWC, INARI, MMSV, FRONTKN, and VITROX. Originality/value: This study is significant as it evaluates financial performance by determining financial distress levels using the Grover model. This study contributes to the understanding of financial health in the technology sector by providing empirical evidence of stability among leading companies. Maintaining strong financial performance is crucial for sustaining competitive advantage in an evolving market landscape. The top-performing companies identified in this study can serve as benchmarks for other companies seeking to enhance their financial strategies and long-term growth potential.
Liew et al. (Wed,) studied this question.