Research On High-tech Enterprises Financial Warning System

Party “18” points out that our country should implement the strategy of scientificand technological innovation, which can drive the national economic development. Andthe strategy of scientific and technological is the core position of national development.In the process of carrying out this strategy, The high and New technology enterprise hasbecome the pioneer and improve productivity and overall national strength. In recentyears, The State increased investment in high-tech enterprises and The high-techenterprises develop faster than any times. But the high-tech enterprises in our countrystarted very late, and high risk characteristics of high-tech enterprise itself “the highcost of research and development, the high cost of intellectual capital, the competitionin the market” is high risk characteristics of high-tech enterprises itself. Thus thehigh-tech enterprises face greater risks in our economic development process. In recentyears, the international situation changes very fast, and the international financial crisismay come back, The rapid development of science and technology have beenexacerbated the possibility that the high-tech enterprise involved in financial crisis. Inour country, the high-tech enterprises is in transition, which is weakly to cope with theinternational market competition ability and the survival rate is much lower than othertraditional enterprises. Therefore, How to identify high-tech enterprise’s financialproblems, and take effective measures to control and reduce the financial risk of thehigh-tech enterprises, It is particularly important to enhance high-tech enterprisesfinancial vigilance.According to the basic theory of financial early-warning system and financialproblems existing in the development of high-tech enterprises, Thesis analyzed with the financial crisis which can produce during the high-tech enterprises the operatingprocess. At the same time, build comprehensive financial early warning index system ofhigh-tech enterprise, including quantitative financial indicators and non-financialindicators of qualitative, quantitative financial indicators comprise traditional indicatorssuch as debt paying ability, operation ability, profit ability, growth ability, cash flowability of the five indicators and research and development ability indicators ofcharacteristics index which is the high-tech enterprise can only have. Build on high-techenterprise financial earning model on account of factor analysis and data envelopmentanalysis. In order to carry out empirical analysis research, selecting the shanghai andShenzhen market of60listed high-tech enterprise. Empirical studies show that It has acertain predictability to build the financial early warning model of factor analysis anddata envelopment analysis, And put forward the measures to prevent financial crisis inthe high-tech enterprise, Finally summarized the research of this paper and prospect.