Research On Financial Early Warning Of Listed Power Companies On The Basis Of Enterprise Performance Evaluation

This paper describes the basic theory of financial early-warning mode and defines the concept of financial crisis.Learned from predecessors excellent basic research results,the author combined the actual situation of the power of listed companies building a financial early warning model of listed companies as the following four steps. First of all,it constructs a set of financial early-warning indicators system which contains 18 indicators.Secondly,it selects 40 listed companies as a model sample from 2005 to 2007.Then it uses principal component analysis to obtain 7 principal components to calculate enterprise comprehensive benefits scores,according to scores put enterprises into excellent,good,medium and bad four levels corresponding to no police,light police,in police and serious police four situation.Thirdly,it use multiple discriminate analysis obtaining non-police,light police,intermediate police and heavy police's early warning model formula.At last,it tests the model,summaries the innovation and disadvantages,points out future research directions.