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Research Of The Financial Distress Prediction On Manufacturing Listed Companies In China

Posted on:2006-09-09Degree:MasterType:Thesis
Country:ChinaCandidate:W FengFull Text:PDF
GTID:2179360182995857Subject:Technical Economics and Management
Abstract/Summary:PDF Full Text Request
Since enterprises organize the appearance as a kind of profitability, the financial affairs have been occupying the extremely important position in enterprises all the time. The financial affairs are safe and succeed, what is foundation of enterprise's survival and development. External environment condition, the market that is transient and unpredictability, in addition the influence of policymaker' s quality, make the financial risk become the objective reality. Since the end of last century, economic science and technology has been developed rapidly and the worldwide competition is becoming fiercer, which make the risk spread quickly and endanger exasperatedly. If enterprises can' t take effective precautions against various kinds of risk factors, the result will bring heavy loss to enterprise, and a large number of financial crises of enterprise will assemble and ignite the financial crisis. But any financial crisis is a course of appearing step by step and worsening progressively, so we can follow and scout the financial affairs in enterprise run course, in order to find the financial crisis signal as soon as possible, and predict enterprise's possible financial crisis. Once find a certain unusual sign, we should be set about meeting an emergency, in order to avoid or reduce the impact on enterprises and relevant people of other interests. Therefore, financial prediction is very significant on the theory and practice.This text reviews the domestic and international classics documents about financial crisis prediction. On the basis of the correlative research results, I choose of 190 ST Company and 20 ST Company from our country manufacturing listed company of stock markets of Shanghai and Shenzhen as sample of studying, and establish the financial index systems, which contain 24 financial indexes of 2001-2003 these 3 years of 210 listed companies. In the course of building the model, through nonparameteric tests, I choose of 14 index as final index of model from...
Keywords/Search Tags:Financial distress, Prediction model, listed companies, Factor analysis, Logistic regression model
PDF Full Text Request
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