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财务弹性是企业适应经济环境变化和利用投资机会的能力,随着市场经济的不断完善与发展,企业面临的外部经济环境的变化速度也越来越快,企业如果不能很快适应变化的环境,把握投资机会,那么企业将面临破产倒闭的风险。因此,财务弹性的大小在一定程度上决定着公司的命运。文章在借鉴已有研究的基础上,通过对部分指标进行修正,构建多维的财务弹性指标体系,并通过对我国2014年部分上市公司财务弹性进行实证分析,试图研究我国上市公司财务弹性与财务危机的关系。
Financial flexibility is the ability of enterprises to adapt to changes in the economic environment and the use of investment opportunities. As the market economy continues to improve and develop, the external economic environment that enterprises face is changing faster and faster. If enterprises can not quickly adapt to the changing environment, Grasp the investment opportunities, then companies will face the risk of bankruptcy. Therefore, the size of financial flexibility to a certain extent determines the fate of the company. Based on the existing research, this paper constructs a multi-dimensional financial elasticity index system by amending some of the indicators, and through the empirical analysis of the financial flexibility of some listed companies in China in 2014, attempts to study the financial flexibility and financial crisis of listed companies in China Relationship.