Research On Financial Crisis Management System Of Manufacturing Listed Companies In Our Country

Today, the companies face much bigger challenges .It not only bears the change of external macroscopic factors, such as the national economic policy changes, the cycle of economic cycle, emergencies and other, but also deals with the internal microscopic factors, such as competition in the industry, product innovation. If the company can't keep good financial situation, it is very easy to get into financial crisis even bankruptcy. Our country is manufacturing power, the proportion of manufacturing listed companies is more than 60%, at the same time there are more and more financial crisis companies. So avoiding financial crisis is imminent. Previous studies just pay attention to financial warning model, this paper will try to establish the financial crisis management system which includes the crisis prevention, crisis diagnosis and early warning, crisis handling. It makes enterprises establish crisis consciousness, pay attention to prevent crisis, not just handling crisis when crisis happening. According to establish the financial crisis management system, reduce the value of companies, ensuring the companies'healthy development.First this paper reviews the achievements of the domestic and foreign scholars in the field of financial crisis prevention and early warning research and gives the objective evaluation. Then we define the meaning of the financial crisis and introduce the formation and development of the financial crisis, and put forward the establishment of financial crisis management system. Again, we analyse the financial crisis situation of manufacturing listed companies in industries and regions in detail. Finally we establish the financial crisis management system, including crisis prevention, diagnosis and early warning. This paper is focused on the three parts of the financial crisis management system. From the forth chapter to the seventh chapter we introduce the three parts of the financial crisis management system and adopt empirical analysis for early financial warning.When establishing the financial crisis management system, we use efficacy coefficient method constructing financial pre-warning model, and select JiYao for empirical analysis. Shenzhen Stock Exchange makes Risk delisting warning to the company on April 28, 2011.This paper chooses this company was selected St of the first four years of data to predict. The empirical results show that the model can predict the financial crisis situation and can prediction the enterprise's alert and alert degrees accurately. At the same time, establishing the financial crisis management system and using improved efficacy coefficient method constructing financial pre-warning model are Innovations of this paper.