Research Of Chinese Manufacturing Industry Listed Company’s Financial Situation Classification

Until the end of March 2014, the total number of Chinese capital market in the A-share listed companies had reached 2,537, while the total number of A-share listed companies was 2489 as the end of 2013, with an increasing of 1.93%, showing that the total number is growing continuously. As the representative of Chinese enterprise, whether financial position of listed company is good or not decides the quality of our capital market directly. According to two previous categories based on financial indicators, the "pseudo-crisis" of crisis situations and the "pseudo-health" of health situationsare easilyoccurred. So the financial situation of listed companiescan’t be just classified into "crisis"and "health" simply. The financial position of multi-classification is much more in line with current actual situation of the capital market.It can be deduced in theory that company’s management factor has influence on financial position, and it is also necessary to bring the non-financial indicators such as company management into financial position multi-ply analysis.Based on panel data of Chinese capital market in 2012 as the research object, the paper selected the 367 manufacturing listed companies of Shanghai as research samples, and selected 20 six financial indicators and 6 non-financial indicators, using PCA to build the first five financial main factor and three non-financial main factor; Secondly, the paper used the method of entropy to assign various financial indicators to get each enterprise comprehensive negative entropy; Finally, it used the cluster analysis of Q type cluster method to cluster the financial status of listed companies, forming the good financial health, finance, financial general, potential crisis and financial crisis, such five kinds of financial status of listed companies, and through the difference test,verified the effectiveness of the classification results.In this paper, the conclusions are as follows:(1) the ownership structure and board characteristics of corporate governance have significant influence to financial condition of enterprise, at the same time, management incentive has more influence than financial factors; (2) there is much worse financial condition of enterprises in Chinese capital market. Enterprise can clear the location through ranking by the negative entropy value to improve its financial position.