This paper selects A-share listed companies in Shanghai and Shenzhen from 2019 to 2020 as research samples,and selects variables that may affect the risk of debt default according to previous literature.The main research results show that basic financial indicators,ownership structure,product market competition and stock price synchronicity all have a significant impact on debt default risk.It is found that in the sample of non-state-owned enterprises,the impact of equity pledge,the shareholding ratio of the largest shareholder and interest coverage ratio on debt default risk is more significant.Further analysis uses principal component analysis to classify the factors into four categories,and carries out K-means clustering on the influencing factors based on the industry.The analysis methods used include descriptive test,independent sample mean T test,linear regression analysis,factor analysis and K-means cluster analysis.
the risk of debt defaultequity pledgeproduct market competitionstock price synchronicity
NETL
NSTL
万方数据
维普
