Research on financial distress prediction of China real estate public companies based on Z-Score model

According to the traditional idea of Z-Score model and characteristics of Chinese real estate industry, this paper will reconstruct the new Z-Score model for the Chinese real estate enterprise financial prediction by re-observing the sensitive financial indicators. The new model realizes “two-years-ahead” risk prediction to timely avoid financial crisis and difficulties caused to Chinese real estate companies. And it overcomes the limitation of the traditional financial variables and the neglect of various industry characteristics to contribute to a more stable business development.