Research On Financial Risk Warning Of Listed Companies Based On Cox Proportional Risk Model

With the continuous deepening of the national market economy system and the continuous reform and development,listed companies have played an important role in the development of China's market economy,and their scale is also large,providing the total market value accounting for 56.61% of GDP.However,due to the unstable development situation of listed companies,which are sensitive to market fluctuations,there is often downward pressure,so attention must be paid.This paper studies the financial risk of listed companies.Therefore,the survival time is set as when the financial operation is good to when the financial operation deteriorates,and the time point when the financial operation deteriorates is set as when the special treatment is performed.This paper takes China's specially treated(ST)listed companies as sample objects,and takes the financial data of ST company as sample data.The Cox proportional risk regression model is used to establish a financial crisis warning model suitable for Chinese listed companies.On the basis of analyzing the research background and significance,summarized the current situation of the listed company financial crisis warning research,problems and necessary significance,Cox proportional hazards regression model is established,finally,the most significant six indexes and the paper expounds the meaning of each indicator representative,which protect factors have working capital and loan ratio,growth rate of return on net assets and net profit growth rate;The risk factors include fixed assets ratio,tangible assets interest-bearing debt ratio and long-term capital debt ratio.Finally,the accuracy of Cox model was tested,and the prediction accuracy reached 89%.The model achieved a better expected effect,indicating the applicability and effectiveness of Cox proportional risk model in early warning of corporate financial crisis.