Study On The Financial Credit Evaluation Of Listed Information Technology Company

As the leading industry of our national economy, the importance of real information technology industry is obvious. The industry of information technology is famous for its high rise, risk and return. Because of the high risk, once the credit risk of an information technology company rises, the stability of the entire national economy will be affected. Therefore, evaluating the credit risk of the information technology enterprises has far-reaching significance. However, there is little research on financial credit evaluation of information technology in China and it is urgent to introduce scientific and effective model to solve the credit evaluation problem. Based on this need, the article have launched research on how to structure the systematic financial credit evaluation system and regards information technology listed company as the research object, and then give suggestion on how to improve the information technology business credit evaluation system.Firstly, this article has collection and review of the existing related research on domestic and foreign literature and then formed the framework of the research. Secondly, defined the concepts of credit, financial credit and credit evaluation and then has further introduction of the related theory such as Marx's Das Capital, Asymmetric Information Theory, Transaction Cost Theory and Game Theory, etc.On behalf of creditors, the weigh of five different aspects is determined via AHP. Combined with filtered financial indicators, the information technology listed company's financial credit evaluation model is established. Taking the loan decision standard of commercial banks into consideration, the financial credit evulation of information technology listed companies is classified into five levels.With regards to the constructed financial credit evaluation model, the research expands the empirical analysis process. The empirical analysis process includes using principal components analysis and linear regression model on the 31 indicators of five different aspects of 134 information technology listed companies to reduce the variable quantity and finally gets 15 ralational ones. Moreover, the weigh of five different aspects is determined via AHP. Finally, the information technology listed company's financial credit evaluation model is established. By using seven ST or *ST information technology listed companies' data samples, the model's effectiveness is made sure and it is finally confirmed that the model has higher prediction accuracy. After the empirical analysis process, the writer gives the relevant conclusions.Based on the research, the writer gives recommendations on how to further improve our information technology listed company's financial credit evaluation system, how to establish effective financial credit evaluation system, how to strengthen the credit information disclosure, how to strengthen the credit rating industry to develop and how to strengthen and improve the legal system.