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目前对于公司财务危机预警的研究,主要基于财务指标建构模型,并展开预警分析、监督公司财务状况。但利用一些财务指标直接分析或构建模型来预测企业财务危机发生的可能性只是整个财务预警系统的一个方面,存在局限性。因此在财务危机预警研究中引入公司治理、关联交易、投资者保护、对外担保等非财务因素,充分估计各种不利因素对企业财务状况的影响,以更好地预测财务危机发生的可能。
At present, the research on early warning of corporate financial crisis mainly builds a model based on financial indicators and conducts early warning analysis to supervise the financial status of the company. However, the use of some financial indicators to directly analyze or construct the model to predict the possibility of corporate financial crisis is only one aspect of the entire financial warning system, which has its limitations. Therefore, the paper introduces the non-financial factors such as corporate governance, connected transactions, investor protection and external guarantee in the study of financial crisis early warning, fully estimates the impact of various unfavorable factors on the financial status of enterprises, and better predicts the possibility of financial crisis.