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Perspective of the learning curve , and to explore the learning effect in the stock market , and digging application way of the learning curve in listed companies' financial risk analysis . Firstly, starting from the learning curve , and the years 1999 - 2006 in Shanghai and Shenzhen A-shares 179 ST company listed ST number of years , and ST years than the general analysis and preliminary validation of the Chinese stock market in 1999 - 2006 the existence of the learning curve . : As listed the number of years of cumulative ST years show a downward trend . The ST years than = ST years / listed number of years . Listed on the calculation of the number of years to the beginning of the reporting period count to the farthest distance of the reporting period of a year so far , during which the number of years apart for years listed . The ST years counted from the beginning of the reporting period , such as 1999 - 2006 , in the market for eight years , eight times the annual report of the company name with ST , ST of the company a number of years to 8 years . Then, the data in-depth analysis , listed on the annual number and ST year number , respectively, to take in 10 to the end of the on the number of means of SPSS software processed data conducted simple regression analysis , the establishment of the listed annual number for the self- variable , the number of ST years than a regression equation for the dependent variable , and thus to determine the learning curve equation with the learning rate . Then the related financial indicators in the annual report of the data collected to the details of the principal component analysis, regression analysis , discriminant analysis , digging out the trigger factors and the corresponding financial indicators of listed companies' financial risk . After univariate learning curve , multivariate learning curve , and empirical research related to financial indicators , financial risk analysis model ( LCFRA ) based on the learning curve , and combined with the learning rate , ST number of years , the specific financial ratios related indicators of the level of the comparative analysis of the model in the industry , competitor research , enterprise's own study of ways to apply . Finally, the application of financial risk analysis model based on the learning curve (LCFRA) validation and inspection by . In this paper, the introduction of the learning curve reflects the innovative research tools , financial risk analysis , innovative . In this paper, the empirical study of 179 listed companies , and the eventual establishment of financial risk analysis model based on the learning curve , is conducive to the listed companies to prevent and avoid financial risks .
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