A Reasearch On Listed Companies' Credit Ability And Credit Tendency Risk Evaluation In China

Credit risk evaluation is an important field in Economy and Management. To research credit risk evaluation of listed company, can help investor and other related benefits make management decision, can help supervisory board enhance supervision. The research of this paper is the part of the projects2 supported by the item of Science and Technology Foundation Condition Terrace Construction in Shanxi Province (No.70573066). The paper studies the influencing factors of credit risk from finance and non-finance aspects, and makes an empirical analysis on the listed companies' credit risk in china with the factor analysis method and grey comprehensive evaluation method. The main contents of the study are as follows:1. Putting forward the concept of credit ability risk and credit tendency riskFrom the definition and the viewpoint of modern credit risk, the paper puts forward the concept of credit ability risk and credit tendency risk, Moreover, from the new angle of view annotates credit risk.2. Setting up a credit risk comprehensive evaluation index system for the listed company in ChinaSelecting 13 non-finance influencing factors of listed companies'credit risk, and selecting 11 finance indicators from profit ability, repay debt ability, operation ability and cash discharge 4 aspects based on research bibliography. The paper sets up a credit risk comprehensive evaluation index system for listed companies in China.3. Putting forward a comprehensive evaluation model for listed companies'credit risk and Making an empirical analysisThe paper, selecting 95 listed companies sample and using independent sample T test to screen 11 the financial indicators, finally selectes 9 significant indicators. At last, the paper makes an empirical analysis to 40 listed companies'credit ability risk with the factor analysis method, in the meantime, makes an empirical analysis to 5 listed companies'credit tendency risk with grey comprehensive evaluation method.Empirical study has shown that credit ability risk and credit tendency risk are some positive relationship, but not completely linear. This study makes up for the lack of only reling on financial indicators to measure the credit risk. Introducing evaluation of credit tendency risk improves the comprehensive measure of credit risk.