Evaluation model of corporate going-concern ability for goingconcern audit and its performance

本研究运用比例风险模型对陷入财务困境的企业进行生存分析(COX回归分析)，构建了企业持续经营能力评价模型。分析结果发现，在与流动性、安全性等相关的40个财务指标中，有5个是影响这些公司生存时间的变量(协变量)。本研究表明，基于这些指标得出的比例风险模型符合我们对破产过程的一般理解。

This study has executed survival analysis (Cox regression analysis) of financially distressed companies to construct the model for evaluation of corporate going-concern ability using proportional hazard model. As the result of analysis, five out of 40 financial indicators related to liquidity, safety, etc., were found as the variable (covariate) which affected the survival time of these companies. This study shows that the proportional hazard model drawn based on these indicators fits into our general understanding of bankruptcy process.