Pre-warning of Financial Crisis on Listed Companies: Theoretical Model and Empirical Evidence

摘要

The appearing process of firm's financial crisis is progressively, so it needs to be tracked and monitored by financial directors of a firm in the areas of financial business, at the same time, no sooner find any sign than have we dealt with it so as to avoid suffering heavy losses and being difficult position. This paper combines factor analysis method with Logistic model and sets up a Logistic-regression model based on some common factors as main variables. As a result, the model shows that it plays a marked role in the early warning of financial crisis, especially the factors which the growth ability of firm, corporate governance, manage ability of assets, and the reality of financial report in the model.