Research On Earl-warning Financing Risk To Listed Enterprises On STAR Market Based On Logistic Model

The SSE STAR Market was officially established in 2019,the overall development trend of STAR Market is good at this stage,but there are also some potential crisis in the operation and financial management of listed enterprises due to the "wide in and strict out" policy of STAR Market.Once delisting occurs,it will cause huge economic losses to enterprises,investors and creditors,even affect the market economy and bring adverse factors affecting social stability.Combining logistic regression and principal component analysis,this paper constructs an Early-warning model based on financing risk.Taking the listed companies on the STAR Market as the normal enterprise sample,and the enterprises marked ~*ST on the Growth Enterprise Board as the sample of financial risk enterprises.This paper selects the financial data of these companies from the five aspects of solvency: debt repayment,profit,cash flow,operation and growth,to design the Earl-warning financing risk index system of listed companies on the STAR Market.SPSS26 software was used to process the data.Finally,the financial risk of listed enterprises on the STAR Market is divided into four early-warning levels: safety,low risk,medium risk and high risk.The financial risks moon-faced by listed enterprises on the STAR Market within the state of medium risk and high risk area unit analyzed,and therefore the improvement countermeasures area unit argue.The results show that the general accuracy of logistic regression model in predicting the financial risk of listed enterprises on the STAR Market is high.The financial risks of listed companies on the STAR Market are mainly reflected in profitability and operating ability.By tracking and monitoring the changes of relevant indicators,enterprise managers can identify enterprise financial risks as soon as possible and take prevention and control measures in time.