The bankruptcy prediction study under the financial crisis: The case of Chinese export-oriented enterprises

摘要

The global financial crisis, triggered by the U.S. subprime mortgage in 2007, has seriously affected the development of China's economy, making a large number of Chinese export-oriented enterprises faced with serious problems, such as profit decline, layoffs and even bankruptcy. This paper is set under the background of this global financial crisis and aiming at extracting implicit risk factors of the export-oriented enterprises through empirical research, which is different from those early studies that based under the conditions when the external environment is stable. In this paper, we built the early warning system on the basis of the logistic regression theory and help enterprises identify the internal factors leading to their corporate financial crisis, so that they can better confront with crisis in the future and take precautions against external environmental impacts, thus contributing to the development of more robust.