The Research On Delisting Risk Warning Of A Listed Company-based On Audit Opinion

In a market economy, Enterprises experiencing "survival of the fittest" baptism since its inception, As China's economic environment is increasingly international, Enterprises are facing increasing uncertainty, Traditional financial theory of the going concern assumption gradually loosened, More and more enterprises gradually slowly go into a state of crisis from the healthy financial due to financial and non-financial issues, and eventually leading companies face delisting risk, then exiting the stage of securities market, which giving our investors a great risk. Companies delisting is a slow process, Delisting risk can be predicted in advance by some of the financial and non-financial indicators, But there are some inaccuracies.This article describes the contract theory, asymmetric information theory and game theory three theoretical basis to explain the definition of listed companies and listed companies delisting risk of delisting risk warning system and its functions, the focus describes the audit opinion, financial indicators, retreat Relations between the three city risk that financial indicators are based on the audit opinion, the audit opinion is forensic financial indicators, as well as the audit opinions and financial indicators can be increased to some extent, the information content of the prediction business delisting risk. The stronger the different proposed audit opinions of listed companies delisting risk warning have different effects, and as close to the delisting risk warning role of audit opinions presented two basic assumptions. Describes the selection, design samples and related financial indicators of early warning indicators as control variables, the audit opinion as independent variables, listed companies delisting risk probability as the dependent variable model, Logistic regression empirical research, analysis of listed companies can effectively warning retreat City risk index system, establish a reasonable and effective model of listed companies delisting risk warning. By studying the results:unable to express opinions and negative opinions and enterprise risk delisting a significant positive correlation between the standard unqualified audit opinion and the audit opinion to some extent, a negative correlation, which is consistent with previous findings of scholars, no reservations plus emphasize audit observations and reservations matter paragraph is generally considered delisting of listed companies no obvious relationship between this conclusion in this paper has been the opposite argument. The data show that unqualified plus explanatory notes and reservations delisting of listed companies is a positive correlation between risk and audit opinion Based on the classification of treatment for different types of views between the calculated and the delisting of its businesses correlation coefficient. From the perspective of audit opinions on Chinese listed companies delisting risk warning mechanism to study to improve the business owners and the management of the establishment of the delisting risk awareness, and should focus on key indicators of the delisting of the company, to help companies outside investors and regulators to accurately identify the risk business, reduce investment risk, and optimize the efficiency of market management.