江西省四大行业上市公司财务困境分析

Analysis of the Financial Difficulties of Listed Companies in the Four Major Industries in Jiangxi Province

摘要: 随着我国社会经济与资本市场的不断蓬勃发展，企业享受机遇的同时还面临着巨大的挑战，企业是否会陷入财务困境，如何才能发挥其最大优势，这不仅关系到企业本身战略的制定与调整，而且还关系到投资者和债权人的根本利益。因此深化上市公司财务困境分析势在必行。自Altman对财务困境预测进行开创性研究以来，财务困境分析与预测已得到了突破性的发展，经国内外学者多年来不懈的探索已经将其量化进行实证分析。本文在国内外已有研究理论基础上，通过美国学者Altman提出的Z值模型对江西省四大行业上市公司进行财务困境研究分析，旨在探索江西省哪些行业面临着财务困境及寻找优势行业，从统计学的角度借助同花顺软件提供的数据进行分析，总结导致财务困境的原因，从而给企业管理者敲响防御的警钟规避财务风险；给投资者回避财务困境企业投资指明方向；为江西省上市公司良好健康稳定的发展提供财务决策支持。

Abstract: With the continuous development of China’s social economy and capital market, enterprises enjoy the opportunity at the same time also faced with great challenges, whether enterprises will fall into financial difficulties, how to play its greatest advantage, which is not only related to the formulation and adjustment of the enterprise’s own strategy, but also related to the fundamental interests of investors and creditors. Therefore, it is imperative to deepen the analysis of financial predicament of listed companies. Since Altman’s pioneering research on financial distress prediction, the analysis and prediction of financial predicament has made a breakthrough development, which has been quantitatively analyzed by scholars at home and abroad over the years. Based on the existing research theories at home and abroad, this paper analyzes the financial predicament of listed companies in four major industries in Jiangxi Province through the Z-value model proposed by American scholar Altman, and attainments in exploring which industries in Jiangxi Province are facing financial difficulties and finding advantageous industries, and analyzing them from the statistical point of view with the data provided by the software. Summarizing the causes of financial predicament, so as to avoid financial risks for enterprise managers to ring the alarm of defense, give investors the direction to avoid financial predicament enterprise investment, and provide financial decision support for the good, healthy and stable development of listed companies in Jiangxi Province.