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This paper expound concept of financial risk in enterprise. Using financial risk prediction analysis as a diagnostic tool, on the base of dependable accounting information, with the evaluation system enterprise financial management, it select 9 single financial ratio indexes (9 index was divided into three groups) and sets up the system of financial ratios and adopts method of BP Neural Networks....
Although originally developed in 1968 using a small sample of firms from the 1950s and 1960s, Altman's Z-Score model remains a commonly used tool for evaluating the financial health of companies. Because of the age of the model and other its attributes, such as its small sample of manufacturing firms and the use of equal group sizes of bankrupt and non-bankrupt firms, it is likely that the model is...
Financial evaluation, which can guide investors' investment behaviors is a part of financial data mining. This paper used public financial data of 51 listed companies in power industry, 2008, as samples. We used improved entropy method to get the score of four groups (profit-gaining capacity, paying capacity, property management capacity and growth capacity) of financial indicators, and then, we applied...
Regardless of the chosen measure in evaluating the globalization within the financial sector, evidence seem to show that capital markets were more open in 1914 than in any other subsequent moment in time up to the 70s of last century. Data published within a study of the World Federation of Exchanges show a new historic record of 11.6 billion derivative contracts being transacted in 2006 on exchanges...
This study is the result of management's intention to optimize their various capital investment decision processes within the organization. Since huge amount of corporate funds are allocated to capital expenditure, the management of the firm decided to look for an alternative capital rationing technique to revise the traditional method (i.e. net present value) that they are currently using. The alternative...
At the end of 2007, subprime mortgage crisis broke out in America, and then it gradually evolved into global economic crisis and spread to other countries. The international financial situation has been deteriorating sharply and has rapidly evolved into the most serious international economic crisis since the "Great Depression" of last century. Export trade, as the important support of China's...
In the development process of our modern financial listed companies, IT projects which are based on digital technology-driven play an important role and have a profound impact on aspects of promoting financial listed companies' large-scale development and institutional innovation. Today, no matters in state-owned commercial banks or joint-stock banks of our country, various financial businesses rely...
Now the listed companies in China are facing a severe problem about the financial situation because of the financial tsunami. Certainly, the stakeholders of the enterprises will experience different levels of loss. Therefore, the build of effective early-warning index system of financial crisis make a significance to corporate investors, creditors, operators, etc. This article indicates the financial...
Infrastructure in China is generally financed by government debt and bank loans, which endangers the financial system of the nation. This paper proposed asset-backed securitization as an instrument to solve the problem of financing infrastructure. This paper analyzed the principle of infrastructure securitization and studied the implementation details of the infrastructure securitization through the...
The same as macro-economy, enterprise's financial status also exists a prosperity cycle which displays from contraction to expansion and form boom to depression. According to the principle of macro-economic prosperity monitoring, based on the entropy model in informational theory, the paper constructs the financial prosperity index and designs a dynamic monitoring method which includes trend graph...
Mergers & Acquisitions (M&A) is an important way to expand the enterprises' scale and improve their core competitiveness, but M&A decision is a big challenge for the manager, especially in the highly uncertain environment. The main approach to value M&A by traditional financial theory is discounted cash flow (DCF) model. DCF models are used for M&A evaluation by most companies,...
This paper empirically studies the impacts of various corporate governance mechanisms on earnings management of listed Chinese firms from 2006 to 2008. We use eight variables to quantify various corporate governance mechanisms including ownership structure and executive compensation for 3468 listed firms sample. They include the concentration of shareholding among the ten largest shareholders, whether...
I clarify the meaning and characteristics of dynamic capabilities, then I point out the problems of the dynamic theory study. Combining Teece (1997) theory of dynamic capabilities with complex adaptive system (CAS) theory of enterprise, I put forward the concept of super dynamic capabilities. Furthermore, I study the connotation of super dynamic capabilities, dimension and analysis model. Last, I...
This essay analyzes and represents the financial maturity of Guangdong from different angles, such as financial summation, financial structure and financial efficiency. The conclusion is the financial maturity of Guangdong is higher than other province, while the superiority is declining. Guangdong has to utilize the superiority, readjust the financial structure and promote the efficiency of financial...
In 2006 FY, Treasury Department of China issued the New Accounting Standards in line with the international standards. Research on the content and characteristics of earnings management tools of commercial banks under the New Accounting Standards has practical significance, that can improve the quality of accounting information and supervision on China's Commercial Banks. This paper chosen all the...
The financial input-output efficiency of eleven water-transporting logistics enterprises in China were evaluated by applying CCR model and BCC model of Data Envelopment Analysis (DEA). The results showed that only four enterprises achieved DEA efficiency in CCR model, ten enterprises were technologically efficient in BCC model. Results not only identified the existing problems in the water-transporting...
A proper insider ownership proportion may incentive management level to make shareholder preference decision in the lower cost and increase corporate performance. It is possible to adjust insider ownership timely and optimize performance gradually by signing effective contract. However cost is needed by adjusting insider ownership, which is adjustment cost. It is necessary to analyze the influencing...
This paper gives a panel-model study on the data of 547 listed companies in China from 2005 to 2007 and draws a conclusion that in China capital market, the capital structure of listed companies in different industries which have dissimilar competition of product market reveals significant diversity. Moreover, the relation between product market competition and capital structure presents positive,...
Earnings management of the listed company is a hidden rule in the capital market. Previous researches usually based on annual earnings are difficult to find when and how firms manage their earning during a fiscal year. Given that the fourth quarter affords the last opportunity of earnings management, the abnormal change in earnings of the fourth quarter is open to doubt. Based on the evidence from...
This Paper Analysis the actual demands for a regional capital market from financing perspective, based on financing choices of Zhejiang Private Enterprises. With the questionnaire survey, the article reduces the some aspects influencing financing choices of the private enterprises. Furthermore, applying the Fuzzy-AHP methodology to Analytic Hierarchy Processing the investigated indices, the conclusion...
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