Uses Logistic Regression Analysis to Explore Between the Financial Crises and Financial Statement Restatements Relationship Under the Digital Transformation

Exploring the results of restating corporate financial statements will illustrate the importance and urgency of corporate digital transformation. This research focuses on the general industrial companies listed on the Taiwan Stock Exchange from 2010 to 2019, with collecting data including corporate governance, financial ratios, and restated financial statements, and uses logistic regression analysis to explore between the financial crises and restatements relationship. In the past ten years, there have been 258 companies that have reorganized their financial statements, and 306 companies have experienced any crisis in the financial crisis. According to the influential variable X left by the two analysis methods, there are a total of 21 main variables and 7 secondary variables. After the analysis, there are two results. First, there is a significant correlation between the restatement of financial statements and the occurrence of a financial crisis. Second, when the financial statements are restated, the probability of a financial crisis will increase. This result shows that the digital transformation of finance will effectively reduce the probability of enterprises re-compiling statements and improve corporate governance.