Financial Distress And Prediction Research Of Listed Companies Citic Guoan Vine Co., LTD Cases

Listed companies in the midst of the complicated and volatile global economic environment have started to pay attention to the destructive power for enterprise by financial distress. The use of conventional financial analysis means to discover the financial distress, and to understand the causes of the distress. The establishment of an appropriate prediction model is help for eventually resolve or prevent the financial distress. This paper describes the internal causes of financial distress, which has impolitic company strategic, irrational corporate governance structure and unsuccessful financial management. There are macro environment, institutional factor and industry influence for the external reasons. A case study with STZP, first presented the company history and financial situation, and then uses the accounting analysis and financial ratio analysis to explain the internal financial distress, and to analyze the external factors of the distress. At last to use univariate and multivariate model for prediction research, and find the high accuracy indicators.