Congenital heart disease(CHD)is the most common type of birth defect,representing a significant cause of peri-natal morbidity and mortality.Early diagnosis of such anomalies is crucial for improving outcomes.Current p...Congenital heart disease(CHD)is the most common type of birth defect,representing a significant cause of peri-natal morbidity and mortality.Early diagnosis of such anomalies is crucial for improving outcomes.Current pro-tocols recommend a qualitative assessment of cardiac structures using two-dimensional ultrasound(2DUS)and color Doppler imaging.In cases of suspected abnormalities,quantitative assessments through cardiac structure measurements and reference curves can aid in accurate diagnosis.Similar to centiles widely employed in obste-trics,Z-scores provide more precise quantification of various cardiac structures,particularly at the extremes of the curve.While the development of reference curves and Z-scores has progressed over the past two decades,a lack of standardization in measurements and statistical methodology for their determination is evident.Establishing reference curves requires adherence to specific recommendations to improve their accuracy.The purpose of this study is to provide a narrative review of the major studies that have generated reference values for cardiac struc-tures using 2DUS and Z-scores,to evaluate their methodology,and to provide a summary of the results.展开更多
房地产产业是国民经济体的重要组成部分之一,因而对该产业进行财务预警和合理的财务风险分析至关重要。本文以绿地控股为例,选取具有代表意义的财务指标以及利用Z-Score模型对绿地控股实际财务状况进行分析,得出其在2021年后存在一定的...房地产产业是国民经济体的重要组成部分之一,因而对该产业进行财务预警和合理的财务风险分析至关重要。本文以绿地控股为例,选取具有代表意义的财务指标以及利用Z-Score模型对绿地控股实际财务状况进行分析,得出其在2021年后存在一定的财务风险,并针对财务风险提出筹资、投资、运营等方面的合理建议。The real estate industry is one of the important components of the national economy, so it is very important to carry out financial early warning and reasonable financial risk analysis for the industry. This paper takes Greenland Holdings as an example, selects representative financial indicators and uses Z-Score model to analyze the actual financial situation of Greenland Holdings, and concludes that there are certain financial risks after 2021, and puts forward reasonable suggestions on financing, investment, operation and other aspects of financial risks.展开更多
随着市场经济快速发展和城市化进程加速推进,对我国建筑企业的发展起到了积极促进作用。然而,受行业特性和外部环境影响,建筑企业面临较大的财务风险。因此,在提升企业经济效益的同时,有必要加强对企业财务风险管理工作的关注,以降低企...随着市场经济快速发展和城市化进程加速推进,对我国建筑企业的发展起到了积极促进作用。然而,受行业特性和外部环境影响,建筑企业面临较大的财务风险。因此,在提升企业经济效益的同时,有必要加强对企业财务风险管理工作的关注,以降低企业面临的风险水平。本文采用Z-Score财务风险预警模型,以A股上市的91家建筑业公司为研究对象,关注ST公司在其被特别处理前3年的财务表现,根据Z值的大小,分析公司处于破产区、灰色区或者安全区的数据,由数据可知在ST公司被特别处理前三年的会计年度中,公司的Z值均在2.675以下,都处于灰色区和破产区。并且这些公司Z值呈逐年减小的趋势,这说明ST公司在被特别处理前两年甚至前三年已经表现出财务状况恶化的迹象。对于非ST公司,在三个会计年度内处于破产区的公司占比一直很高,超过50%,虽然在t − 1年处于“破产区”的公司相对于前两年有下降,但是下降幅度不大,说明我国建筑业上市公司面临着较大的财务风险。本文的创新点是首次将Z-Score财务风险预警模型应用于我国建筑业上市公司,填补了该领域在财务预警方面的研究空白。此前,Z-Score模型主要应用于制造业等其他行业,其在建筑业中的应用尚未得到充分探索。通过将Z-Score模型应用于建筑业,为该行业提供了一个新的财务风险预警工具,有助于企业更准确地识别和应对潜在的财务风险。With the rapid development of the market economy and the acceleration of urbanization, the development of China’s construction enterprises has been positively promoted. However, due to the industry characteristics and external environmental influences, construction enterprises face significant financial risks. Therefore, while enhancing economic efficiency, it is necessary to strengthen the focus on financial risk management to reduce the risk levels enterprises face. This article employs the Z-Score financial risk early warning model, using 91 A-share listed construction companies as the research objects, and focuses on the financial performance of ST companies in the three years before they were specially treated. According to the size of the Z-value, the article analyzes the data of companies in the bankruptcy zone, gray zone, or safe zone. The data shows that the Z-values of ST companies in the three years before they were specially treated were all below 2.675, all in the gray zone and bankruptcy zone. Moreover, these companies’ Z-values showed a decreasing trend year by year, indicating that ST companies had already shown signs of deteriorating financial conditions two or even three years before being specially treated. For non-ST companies, the proportion of companies in the bankruptcy zone within three accounting years has remained high, exceeding 50%. Although the number of companies in the “bankruptcy zone” in t − 1 year decreased compared to the previous two years, the decrease was not significant, indicating that China’s listed construction companies face significant financial risks. The innovation of this article is the first application of the Z-Score financial risk early warning model to China’s listed construction companies, filling the research gap in financial early warning in this field. Previously, the Z-Score model was mainly applied in other industries such as manufacturing, and its application in the construction industry had not been fully explored. By applying the Z-Score model to the construction industry, a new financial risk early warning tool is provided for the industry, helping enterprises identify and respond to potential financial risks more accurately.展开更多
近年来,随着科技的发展,科技企业迅速发展壮大,但复杂的内外部环境使得科技企业在经营过程中面临诸多风险。为了我国科技上市公司健康、持续发展的目标,需对其进行财务危机预警研究。本文利用SPSS软件对400家科技上市公司的21个财务指...近年来,随着科技的发展,科技企业迅速发展壮大,但复杂的内外部环境使得科技企业在经营过程中面临诸多风险。为了我国科技上市公司健康、持续发展的目标,需对其进行财务危机预警研究。本文利用SPSS软件对400家科技上市公司的21个财务指标变量进行筛选,确定模型变量和判别系数,建立科技上市公司修正的Z-Score预警模型,运用建模样本、检验样本对所建模型的适用性进行检验,可以发现,该模型对我国科技上市公司财务危机的发生具有比较好的警示作用。In recent years, with the development of technology, technology companies have grown rapidly. However, the complex internal and external environment has led to numerous risks for these companies in their operations. In order to achieve the goal of healthy and sustainable development for our country’s technology listed companies, it is necessary to conduct research on financial crisis warning. This article utilizes SPSS software to screen 21 financial indicator variables of 400 technology listed companies, determine model variables and discriminatory factors, and establish a modified Z-Score warning model for technology listed companies. The applicability of the model is tested using modeling and testing samples, and it is found that the model has a good warning effect on the occurrence of financial crises in China’s technology listed companies.展开更多
文摘Congenital heart disease(CHD)is the most common type of birth defect,representing a significant cause of peri-natal morbidity and mortality.Early diagnosis of such anomalies is crucial for improving outcomes.Current pro-tocols recommend a qualitative assessment of cardiac structures using two-dimensional ultrasound(2DUS)and color Doppler imaging.In cases of suspected abnormalities,quantitative assessments through cardiac structure measurements and reference curves can aid in accurate diagnosis.Similar to centiles widely employed in obste-trics,Z-scores provide more precise quantification of various cardiac structures,particularly at the extremes of the curve.While the development of reference curves and Z-scores has progressed over the past two decades,a lack of standardization in measurements and statistical methodology for their determination is evident.Establishing reference curves requires adherence to specific recommendations to improve their accuracy.The purpose of this study is to provide a narrative review of the major studies that have generated reference values for cardiac struc-tures using 2DUS and Z-scores,to evaluate their methodology,and to provide a summary of the results.
文摘房地产产业是国民经济体的重要组成部分之一,因而对该产业进行财务预警和合理的财务风险分析至关重要。本文以绿地控股为例,选取具有代表意义的财务指标以及利用Z-Score模型对绿地控股实际财务状况进行分析,得出其在2021年后存在一定的财务风险,并针对财务风险提出筹资、投资、运营等方面的合理建议。The real estate industry is one of the important components of the national economy, so it is very important to carry out financial early warning and reasonable financial risk analysis for the industry. This paper takes Greenland Holdings as an example, selects representative financial indicators and uses Z-Score model to analyze the actual financial situation of Greenland Holdings, and concludes that there are certain financial risks after 2021, and puts forward reasonable suggestions on financing, investment, operation and other aspects of financial risks.
文摘随着市场经济快速发展和城市化进程加速推进,对我国建筑企业的发展起到了积极促进作用。然而,受行业特性和外部环境影响,建筑企业面临较大的财务风险。因此,在提升企业经济效益的同时,有必要加强对企业财务风险管理工作的关注,以降低企业面临的风险水平。本文采用Z-Score财务风险预警模型,以A股上市的91家建筑业公司为研究对象,关注ST公司在其被特别处理前3年的财务表现,根据Z值的大小,分析公司处于破产区、灰色区或者安全区的数据,由数据可知在ST公司被特别处理前三年的会计年度中,公司的Z值均在2.675以下,都处于灰色区和破产区。并且这些公司Z值呈逐年减小的趋势,这说明ST公司在被特别处理前两年甚至前三年已经表现出财务状况恶化的迹象。对于非ST公司,在三个会计年度内处于破产区的公司占比一直很高,超过50%,虽然在t − 1年处于“破产区”的公司相对于前两年有下降,但是下降幅度不大,说明我国建筑业上市公司面临着较大的财务风险。本文的创新点是首次将Z-Score财务风险预警模型应用于我国建筑业上市公司,填补了该领域在财务预警方面的研究空白。此前,Z-Score模型主要应用于制造业等其他行业,其在建筑业中的应用尚未得到充分探索。通过将Z-Score模型应用于建筑业,为该行业提供了一个新的财务风险预警工具,有助于企业更准确地识别和应对潜在的财务风险。With the rapid development of the market economy and the acceleration of urbanization, the development of China’s construction enterprises has been positively promoted. However, due to the industry characteristics and external environmental influences, construction enterprises face significant financial risks. Therefore, while enhancing economic efficiency, it is necessary to strengthen the focus on financial risk management to reduce the risk levels enterprises face. This article employs the Z-Score financial risk early warning model, using 91 A-share listed construction companies as the research objects, and focuses on the financial performance of ST companies in the three years before they were specially treated. According to the size of the Z-value, the article analyzes the data of companies in the bankruptcy zone, gray zone, or safe zone. The data shows that the Z-values of ST companies in the three years before they were specially treated were all below 2.675, all in the gray zone and bankruptcy zone. Moreover, these companies’ Z-values showed a decreasing trend year by year, indicating that ST companies had already shown signs of deteriorating financial conditions two or even three years before being specially treated. For non-ST companies, the proportion of companies in the bankruptcy zone within three accounting years has remained high, exceeding 50%. Although the number of companies in the “bankruptcy zone” in t − 1 year decreased compared to the previous two years, the decrease was not significant, indicating that China’s listed construction companies face significant financial risks. The innovation of this article is the first application of the Z-Score financial risk early warning model to China’s listed construction companies, filling the research gap in financial early warning in this field. Previously, the Z-Score model was mainly applied in other industries such as manufacturing, and its application in the construction industry had not been fully explored. By applying the Z-Score model to the construction industry, a new financial risk early warning tool is provided for the industry, helping enterprises identify and respond to potential financial risks more accurately.
文摘近年来,随着科技的发展,科技企业迅速发展壮大,但复杂的内外部环境使得科技企业在经营过程中面临诸多风险。为了我国科技上市公司健康、持续发展的目标,需对其进行财务危机预警研究。本文利用SPSS软件对400家科技上市公司的21个财务指标变量进行筛选,确定模型变量和判别系数,建立科技上市公司修正的Z-Score预警模型,运用建模样本、检验样本对所建模型的适用性进行检验,可以发现,该模型对我国科技上市公司财务危机的发生具有比较好的警示作用。In recent years, with the development of technology, technology companies have grown rapidly. However, the complex internal and external environment has led to numerous risks for these companies in their operations. In order to achieve the goal of healthy and sustainable development for our country’s technology listed companies, it is necessary to conduct research on financial crisis warning. This article utilizes SPSS software to screen 21 financial indicator variables of 400 technology listed companies, determine model variables and discriminatory factors, and establish a modified Z-Score warning model for technology listed companies. The applicability of the model is tested using modeling and testing samples, and it is found that the model has a good warning effect on the occurrence of financial crises in China’s technology listed companies.
