| Summary: | 碩士 === 中原大學 === 會計研究所 === 99 === 英文摘要
Financial distress of corporate financial area has been a very important issue, there are many studies that using financial factors and non-financial factors to discuss the financial distress for the company's associations. Since 2003, mainland China importance of corporate governance, use of foreign advanced mechanism to strengthen corporate governance of Chinese companies internal control system, thereby enhancing company performance and reduce the possibility of financial crises, the use of financial factors in this study and corporate governance factors to test their company's financial crisis for the ST relationship.
Physical problem occurs when the company, the company will use some means to cover up its financial position, financial statements, such as fraud, overstate the assets, understate the liabilities or use of financial information disclosed in the notes, etc., so Benpian also makes use of fourteen kinds of companies violation types to detecte the financial distress for the company's ST relevance.
In this paper, China's Shanghai Stock Exchange and Shenzhen Stock Exchange listed companies for the study, between 2003 to 2010 to take China's 11,620 listed companies information to be analyzed, in fact, permit the results are summarized as follows: (1) violation of the company occur, ST financial Distress than the formation of the company showed a significant positive correlation; (2) operating cash flow to total debt ratio, return on total assets, current ratio, total asset turnover for the financial crisis, ST showed a significant negative correlation between corporate debt ratio for the ST financial crisis showed significant positive correlation company; (3) management of the shareholding ratio of part-time chairman, general manager for ST's financial crisis showed significant negative correlation; (4) illegal to buy shares of the company violates the provisions of a breach of the provisions of profits veneer , to postpone disclosure of a breach of conduct, a breach of the act of false statements, significant omissions violate the provisions of the company, the company violated the provisions of manipulating stock prices, the company violated the provisions of security breaches, a breach of other provisions of the financial crisis for the ST showed a significant positive correlation company.
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