The Study On Related Issues Of Financial Crisis Early-warning Of Our Country Manufacture Enterprises

Manufacture industry occupy a pivotal position in Chinese economy, it is the main body of thereal economy and the country’s strategic industries, has been driving Chinese economic growth.However, with inflation, appreciation of the RMB, the transformation of manufacture industry andmultinational corporations to reduce the procurement of manufacture enterprises in China, manymanufacture enterprises are facing tremendous pressure to survive. The backdrop of this grimsituation, if the manufacture enterprises in China has yet to improve financial risk preventionawareness, strengthen enterprise management, focus on innovation and industrial upgrading, iseasily caught in a situation of financial crisis, serious and even lead to enterprises to the brink ofbankruptcy. Therefore, at this stage of Chinese manufacture industry facing domestic andinternational highly competitive market environment, it is significant to make a study on theproblem of the financial crisis early-warning of Chinese manufacture enterprises, which not onlycan promote the economic development, but also can meet the demands of investors, creditors,operators, governments and other related ones.On the basis of domestic and foreign scholars on issues related to the study of the financialcrisis early-warning, firstly, summarize the domestic and foreign definition of the financial crisis,qualitative and quantitative analysis methods of financial crisis early-warning and make theevaluation on the financial crisis early-warning model.Secondly, combined with the history of the development of Chinese manufacture industry,analysis the causes of financial crisis on manufacture enterprises. And select the Shanghai andShenzhen stock A share market24manufacture financial crisis companies and34manufacturefinancial normal companies as samples, the use of the F-score mode with17Companies in2008,2009,2010financial data and41Companies in2007,2008, and2009financial data to makean empirical research. The empirical results indicate that the financial crisis can be predicted, andthe F-Score model for manufacturing of listed companies in China forecast accuracy of themaximum can reach84.48%, so that the model has great practical value.Finally, the deficiencies in this paper, put forward some suggestions for improvement onfollow-up study.