Bankruptcy Prediction Model in China: Prediction of Financial Distress in Listed companies of Chinese Manufacturing Industry
The establishment of prediction model for financial distress is not only for the interests of the wide stakeholders, but also to maintain a healthy and stable environment for the development of stock market. This paper starts from the definition and drivers initiating financial distress and then dra...
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| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
| Published: |
2017
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| Online Access: | https://eprints.nottingham.ac.uk/45854/ |
| _version_ | 1848797207455596544 |
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| author | Liu, Xuanxuan |
| author_facet | Liu, Xuanxuan |
| author_sort | Liu, Xuanxuan |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | The establishment of prediction model for financial distress is not only for the interests of the wide stakeholders, but also to maintain a healthy and stable environment for the development of stock market. This paper starts from the definition and drivers initiating financial distress and then draws support from previous scholars on developing the model. This paper targets “ST” companies in Chinese manufacturing industry in 2017. 24 ST companies and 24 non-ST companies are identified as control groups. Logistic regression is applied to build financial distress warning model. With introduction of state ownership into the model, with the aim to explore potential influence imposed by government to protect state-owned companies, this paper injects new vitality and impetus into research on prediction of financial distress. Important contribution of this paper includes discovering financial indicators that play an important role in prediction of financial distress, refining previous logistic model by extending time scale and undertaking more detailed analysis on manufacturing industry. The paper finally provides an appropriate model for prediction of financial distress for listed companies in Chinese manufacturing industry. |
| first_indexed | 2025-11-14T20:00:12Z |
| format | Dissertation (University of Nottingham only) |
| id | nottingham-45854 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T20:00:12Z |
| publishDate | 2017 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-458542018-04-10T15:34:58Z https://eprints.nottingham.ac.uk/45854/ Bankruptcy Prediction Model in China: Prediction of Financial Distress in Listed companies of Chinese Manufacturing Industry Liu, Xuanxuan The establishment of prediction model for financial distress is not only for the interests of the wide stakeholders, but also to maintain a healthy and stable environment for the development of stock market. This paper starts from the definition and drivers initiating financial distress and then draws support from previous scholars on developing the model. This paper targets “ST” companies in Chinese manufacturing industry in 2017. 24 ST companies and 24 non-ST companies are identified as control groups. Logistic regression is applied to build financial distress warning model. With introduction of state ownership into the model, with the aim to explore potential influence imposed by government to protect state-owned companies, this paper injects new vitality and impetus into research on prediction of financial distress. Important contribution of this paper includes discovering financial indicators that play an important role in prediction of financial distress, refining previous logistic model by extending time scale and undertaking more detailed analysis on manufacturing industry. The paper finally provides an appropriate model for prediction of financial distress for listed companies in Chinese manufacturing industry. 2017-09-12 Dissertation (University of Nottingham only) NonPeerReviewed application/pdf en https://eprints.nottingham.ac.uk/45854/1/dissertation%20final.pdf Liu, Xuanxuan (2017) Bankruptcy Prediction Model in China: Prediction of Financial Distress in Listed companies of Chinese Manufacturing Industry. [Dissertation (University of Nottingham only)] Financial distress key performance indicators state ownership logistic regression early-warning mechanisms |
| spellingShingle | Financial distress key performance indicators state ownership logistic regression early-warning mechanisms Liu, Xuanxuan Bankruptcy Prediction Model in China: Prediction of Financial Distress in Listed companies of Chinese Manufacturing Industry |
| title | Bankruptcy Prediction Model in China: Prediction of Financial Distress in Listed companies of Chinese Manufacturing Industry |
| title_full | Bankruptcy Prediction Model in China: Prediction of Financial Distress in Listed companies of Chinese Manufacturing Industry |
| title_fullStr | Bankruptcy Prediction Model in China: Prediction of Financial Distress in Listed companies of Chinese Manufacturing Industry |
| title_full_unstemmed | Bankruptcy Prediction Model in China: Prediction of Financial Distress in Listed companies of Chinese Manufacturing Industry |
| title_short | Bankruptcy Prediction Model in China: Prediction of Financial Distress in Listed companies of Chinese Manufacturing Industry |
| title_sort | bankruptcy prediction model in china: prediction of financial distress in listed companies of chinese manufacturing industry |
| topic | Financial distress key performance indicators state ownership logistic regression early-warning mechanisms |
| url | https://eprints.nottingham.ac.uk/45854/ |