Chinese Listed Companies' Financial Distress Prediction

In the world, there are many companies fall into financial distress every year. The financial distress for companies has caused massive loss to the persons who related with the companies. And it also takes negative influence to our society. It is of significance for us to study financial distress since corporate managers, creditors and stockholders and so on can be benefit from this kind of financial distress study.In this thesis, we theoretically discussed the definition of financial distress in detail at first, and after knowing what the financial distress is, we related the reality of the listed companies in our country to define the companies in financial distress. In this foundation, we reviewed and evaluated the classical literature in financial distress predicting both in domestic and foreign. Then, we selected 67 ST-companies and 67 normal companies as the samples of our research and 15 financial ratios that can reflect the financial condition of enterprise as the variables. We use T-test to select out important variables which will be used in coming model. After the needed ones having being selected, we set up a Logistic regression model to predict the possibility of falling into financial distress of listed company and analyzed the results of the prediction.There are six chapters in this thesis:In chapter one: the foreword. Under the background of the fast developing of our stock market and more and more ST-companies coming out, the persons who related with the companies demand the predicting of distress urgently, because the predicting has the great significance for them.In chapter two: the definition of financial distress and the standards to defining a listed company which have fall into distress in china's stock market. Firstly, we reviewed the definition which make out by related scholars both in domestic and foreign. Then, we theoretically discussed...