The Empirical Analysis On New Third Board Company Financial Crisis Warning

The State Council officially announced that all enterprises will be included in the scope of the new third board listed companies in December 14, 2013. At this time, the National SME share transfer system has become a national securities exchange, which can emulate the Shanghai Stock Exchange and Shenzhen Stock Exchange. With the release of the government policy and the advantages of new board system, the rapid development and expansion and the rich effect of the new board also attracted more and more enterprises.Recently a wave of Internet financial wealth became rich a considerable number of enterprises, such as raise the public, Alipay. But the market is always a hot alternately, the new board is likely to be the next wave of wealth in the field of internet. The new board is an important component of multi-level capital market China, which will play an indispensable role in corporate financing in the future.The new board, an important capital market financing channels, exposed the lack of experience in risk management although in the rapid development, modern enterprise management structure is not perfect, the new board listed company’s financial crisis early warning model for analysis is less, so the goal of this paper is establish a financial crisis early warning model. In order to the development of the new third board more smoothly and protect the interests of stakeholders, we want achieve the real-time monitoring and effective prediction of the financial situation of the new board companies.In this paper, firstly, the paper reviews the domestic and foreign research on the financial crisis early warning, suggest that the financial crisis of the third new board listing Corporation in China can use factor analysis model to analyze the financial crisis.Secondly, define the concept of the new board of the financial crisis by conferring financial crisis literature concept comb, at the same time, the paper describes four basic theories of financial crisis, crisis management theory, life cycle theory, early warning management theory, risk management theory. Based on these theories, we can implement the financial crisis early warning model of third new board listing Corporation in China. Thirdly,understanding of the current situation of the development of the new board listed companies, make a systematic analysis of the causes of the financial crisis to the new boardlisted companies, summarizes the new board listed company financial crisis warning, for our country to establish the new board listed company financial crisis early warning model to provide system support. Then, select the sample as well as the appropriate financial indicators for the new third board listing Corporation financial crisis early warning model to do the basic preparation work, followed the beginning of the establishment of the model,draw the conclusion. Finally, the full text of the summary, and put forward the study also exist some problems and the future of the third new board listing Corporation to look forward to the future research.