摘要
随着资本市场逐步完善,上市公司退市机制也将逐步建立,因此非常必要建立一个财务失败预警系统。在借鉴奥特曼(Alteman)的多元Z值判定模型的基础上,采用判别分析方法,建立了一种新的预测企业财务失败的模型,并把沪深两地证券市场的ST公司界定为“财务失败企业”,选取28家ST公司及47家非ST公司共75家企业作为研究样本,对上市公司财务失败预测模型进行实证检验。
With the perfecting of China's capital marketing, the withdrawing mechanism of listed corporations will bees-tablished gradually. So it is very necessary to build a financial failure forewarning system. Basing on the study of Alte-man' smulti- variate Z - score model, this article propounds a new forwarning model of corporation s financial failure by discriminatory analysis. Then it defines 'ST- corporation' as financial failure corporations and selects 38 'ST' firms and 62 'N - ST' firms as samples to verify the established model.
出处
《商业研究》
北大核心
2003年第12期78-82,共5页
Commercial Research
