In The Z-score Model China’s High-tech Information Technology Listed Companies Financial Crisis Early Warning Analysis

Attracted considerable attention in the context of the current global economic integrationand economic recovery, the rapid development of high-tech information technology industry,And also accompanied by the rapid development of increasingly fierce competition, how tosurvive in the fierce competition in the development is placed in front of a problem, timelyand accurate financial difficulties that may occur early warning as an important guarantee forthe survival and development of the company. Financial Distress is a significant signal thatthe company is facing severe crisis, directly affect the company’s profitability and prospectsfor the development and use of appropriate financial distress early warning model can helpcompanies predict crises that may arise, will cause the deterioration of the financial positionof the impact of factors detected on a timely basis, so that the management of the Company toimplement countermeasures before the onset of the crisis, the crisis in the bud was eliminated.Listed companies to be based on their own industry characteristics, regional environment,time frame and other relevant factors to select a specific effectiveness of financial distressearly warning model to determine the company’s true financial condition and potential crises,thereby reducing the risk of bankruptcy, the listed the healthy development of the Company.This article describes the Financial Distress research at home and abroad dynamiccomparative analysis of financial distress early warning model, expounded the theory offinancial distress and high-tech information technology companies, Z-Score model analysis toselect the reason for the high-tech information technology company. And on the basis of theFinancial Distress model of existing research results at home and abroad, combined with thecharacteristics of China’s high-tech information technology listed companies, the integrateduse of accounting, financial management and other related theories, from the reasonablecapital structure and corporate governance the soundness point of view of the reasons for theformation of the high-tech information technology listed companies’ financial risk. Throughthe analysis of China’s high-tech information technology listed companies’ financial situation,the industry listed companies sample classification and selection, and statistics of each samplecompany announced annual financial report data from the asset turnover, profitability, operating capacity, debt service capacity and development of the company the ability toexpand financial indicators, Z-Score model analysis of the accuracy of the sample companieson the Financial Distress, Z-Score model validated by empirical research in China’s high-techinformation technology listed companies applicability. At the same time, based on the resultsof empirical analysis, the high-tech information technology listed companies to use theZ-Score model recommendations of the listed Financial Distress actual use of certaininstructive.