| Summary: | 碩士 === 國立高雄第一科技大學 === 財務管理所 === 94 === Abstract
This study mainly modifies the financial crisis precaution model only based on
financial ratios by corporate governance. The study considering corporate governance
expects to enhance the accuracy of the precaution model. Previous studies about
predictive financial distress model mostly focused on exploring corporate financial
information or financial ratios. However, the results showed more complicated variables
did not efficiently predict financial distress. Taking corporate governance into account,
this paper uses non-financial information to capture corporate financial distress signs
which did not predict by financial information in the past. The study uses factor analysis
and mean test to simplify the variables for improving the complexity of financial crisis
precaution model in the past studies. In addition, the study employs logistic regression
analysis to predict whether there is any crisis in the corporate. The results show that not
only financial ratio variables but corporate governance will have significant impact on
financial crisis precaution.
The main purpose of the study is to modify the part which does not explain by
the traditional financial crisis precaution model. In recent years, due to spurious
financial statements, the traditional model based on the financial information has the
lowest prediction accuracy, and it is essential to consider non-financial information to
the financial crisis precaution model in the study. Under “supervision” and “incentive”,
the corporate has more robust corporate governance, which will increase the confidence
of fund suppliers and improve the profitability and reduce the risk of bank loans.
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