Abstract: With the rapid development of the market economy, the financial crisis early warning and more attention. The development of China's securities market is not perfect, in recent years due to poor management of the external market competition and internal management, the emergence of the phenomenon of the financial crisis has become commonplace. But the financial crisis is not instantaneous, but a step-by-step process gradually. Most enterprises fall into the quagmire of the financial crisis are initially normal development of the business until its own decision-making errors or force majeure to financial trouble, management not pay enough attention lead to the emergence of the financial crisis intensified. This shows that the financial crisis is some signs, is predictable, then the financial crisis early warning can predict or even prevent or control the expansion of the financial crisis, and also avoid the same crisis again. In order to survive and development in the fierce market competition, China's listed companies should establish the financial crisis early warning system to avoid the quagmire of its corporate financial crisis.
In this paper, the basic theory and accounting, financial management and other disciplines of the financial early warning system theory as a guide, the use of normative analysis and case studies combined, the combination of qualitative and quantitative analysis method. Select Hangzhou Jiebai Group Co., Ltd. combined with the most representative sample, the most successful of the Z-Score early warning analysis, analysis of Z-Score warning model for our country has certain limitations conclusions. So it should be combined with China's actual situation and make appropriate adjustments, select or correction developed in line with the characteristics of the development of the company's own financial crisis early warning system.
Keywords Financial risk Financial crisis Financial crisis early warning Financial indicators...