| Due to the rapid development of the economy and the increasing openness of the capital market,the Chinese Securities Market has become a financing platform for thousands of listed companies in China.However,due to the intensified competition in China,s market,some listed companies in Shanghai and Shenzhen Stock Exchanges are specially treated by the CSRC every year because of their poor financial situation,therefore,constructing a financial risk early warning model that can adapt to the development of China's securities market can timely and accurately assess the financial risk status of listed companies,which has important practical significance for the company's development.Based on the previous research results,this paper first analyzes the financial characteristics of ST company from the financial indicators of non-ST companies in China from 2014 to 2017,and then from the solvency,profitability,operational capacity of the company,In terms of development capability and cash flow turnover,22 financial indicators were selected as alternative indicators for the financial risk early warning model.Then,8 key indicator variables were selected through the significance analysis and factor analysis method.Finally,SPSS Statistic 20 was adopted.The Logistic regression model was constructed by using the Forward:LR method for the data of 90 listed companies in 2017.This paper takes Chongqing Iron&Steel Company Limited as the case study.From the four aspects of the company's asset characteristics,income characteristics,financial structure characteristics and cash flow characteristics,this paper analyzes the company's financial characteristics and the financial risk.Then,the company's 2015-2017 data is substituted into the constructed logistic regression model to predict the financial risk.Finally,based on the model's forecast results and the problems existing in the company's internal management,suggestions for reducing financial risks are proposed. |
PDF Full Text Request