Early Warning Model Construction Based on Z-Score Financial Risk: China's U.S. Stock Information Technology Companies

Abstract

Information technology is the foundation for the development of digital economy and the key support for the construction of digital China. The U.S. stock market has a faster financing speed and is the preferred place for Chinese enterprises to list abroad. Based on the Z-Score financial risk early warning model, this study takes China's U.S. stock information technology companies as samples, adds 23 financial indicators to the measurement indicators, and utilizes Fisher's discriminant method for discriminant analysis and validation. The research results show that compared with the Z model, the new model, except for X1, the rest of the variable indicators, indicator coefficients and risk interval thresholds have been revised, and the revised Z1 model has a higher discriminatory correctness rate, and is also more suitable for discriminating the financial risks of China's U.S. stock information technology enterprises at present.