Financial Distress Prediction Models of China´s Listed Companies

Research of financial distress prediction models has just started in China, and there are some differences between the study abroad and that in China both from the methods and the perspective of research, which are mainly due to the difference of the degree of maturity of the capital market and the imperfections of research methods. Using listed manufacturing industry as its research object and whether the listed company has been special transaction because "the financial conditions are unusual" as a sign of financial distress, this paper adopts the canonical discriminant analysis method of the multivariate discriminant analysis, applies several variables which can cover every aspect of a listed company\´s financial position, utilize the financial data from the audited financial statements and search the variables and prediction models that can predict the financial distress of listed companies as accurately as possible.