基于财务指标的ST公司退市风险判别研究

ST类股票是股市中非常独特的一个群体,存在一定的投资价值。以ST公司的资产负债率等九项财务指标为依据,运用齐同性检验和典则判别函数,对其中的退市公司和未退市公司进行分析,发现资产负债率、应收账款周转率、资产周转率等是影响ST公司命运的主要因素,ST类股票投资者应特别关注ST公司的负债情况、经营周转情况和业务收入情况,以规避其退市风险。

Discriminating the risk of ST company delisting based on financial data

ST stock is a special sort in stock-market,which has a certain value of investment.Those companies which have and have not been removed are analyzed by using equality test and canonical discriminant function based on 9 financial data,such as the debt-assets ratio of ST company,etc.It is found that the debt-assets ratio and velocity of receivables and velocity of assets are the main influence factors to the fate of ST companies.The investors of ST stocks should pay more attention to the situation of debt,velocity of receivables and business income of ST company so as to avoid the risk of being removed from stock-market.