Research On Financial Early Warning Of China's Media Listed Companies Based On "Z-score" Model

The existence of risk makes the company's business prospects more uncertain.If the company does not pay attention to controlling risks,compared with companies concerned with financial crisis,the possibility of financial crisis will increase,and even enterprises will cause bankruptcy because of the importance of ignoring the financial crisis.It is generally believed that the emergence or even bankruptcy of corporate financial risks is not a sudden appearance without warning,and there is a process of gradual deterioration.Considering the ease of operation of the model,establishing an effective financial early warning model is one of the effective ways for enterprises to solve unintended corporate financial failures.The early warning model can effectively assess the financial status of the enterprise.The simple and effective objective financial early warning model makes the enterprise more efficient in analyzing the data,and the results are more intuitive.The enterprise can effectively prevent the financial risks.For example,companies can measure the need to improve the corporate financial framework based on the assessment results.In addition,an effective financial early warning model can also prevent financial crises,help government management departments monitor the quality of listed companies and securities market risks,protect the legitimate rights and interests of investors and creditors,promote social and economic security,and reduce the impact of capital markets.Promote a virtuous circle.With the development of economy and society,Chinese enterprises are facing more and more impacts in all aspects.In order to achieve the development goals of media companies in the fierce diversified market competition,ensuring early warning models can help listed companies make correct predictions,and it is very necessary for companies.In the introduction,the introduction of the research on the financial distress early warning about domestic and foreign scholars is introduced in terms of time and relevance.The research results of the financial distress early warning model at home and abroad are the basis of this paper for the media industry in China.Then it introduces the financial dilemma and related theories involved in the thesis.Explain the industry characteristics and industrial development trends of media listed companies,and analyze their political reasons.According to the characteristics of domestic listed media companies,comprehensively use relevant theories such as accounting,finance,and enterprise management to define the concept of Chinese listed media companies.The financial early warning system was elaborated,which provided a theoretical basis for the listed media companies to choose the “Z-Score” model.Through the analysis of the financial status of China's listed media companies,the financial risks of listed companies in the media industry are defined in terms of asset turnover capacity and profit.Based on the results of classification and selection,the key issues of each development group and inspection group are released.The various indicators of financial indicators were analyzed and summarized,and the “Z-Score” model was adjusted to make it more predictable for China's listed media companies.The revised “Z-Score” model was used to analyze the financial distress of the sample company.From the aspects of capital structure and corporate governance,it puts forward the countermeasures for financial risks of listed media companies.It has certain practical significance for the practical application of the financial distress early warning of listed media industry companies.