Integrated Evaluation of Financial Risk in Coal Industry Restructuring: A Model of Linear Regression and PCA

Table 1

Data for regression of W-score (part).

Listed company	Serial number	Years	= sales/total assets	= EBIT/total assets	= working capital/total assets	= total market value of equity/total liabilities	= retained earnings/total assets	= total external guarantees/total net assets
Company A	1	2001	0.6308	0.1354	0.1548	6.361	0.049	0	0.6606
	2	2002	0.5218	0.1258	0.1815	7.1257	0.0431	0	0.7748
	3	2003	0.5209	0.1689	0.1975	4.8741	0.0554	0	0.687
	4	2004	0.6255	0.3638	0.2058	3.2146	0.2182	0	0.7754
	5	2005	0.5055	0.2236	0.0681	1.3452	0.1607	0.0375	0.5485
	6	2006	0.4458	0.0828	0.019	0.7992	0.0716	0.3196	0.513
	7	2007	0.7455	0.0753	0.1215	2.0585	0.1021	0.5183	0.5653
	8	2008	0.7755	0.1268	0.1408	0.5222	0.143	1.0414	0.5612
	9	2009	0.5692	0.0713	0.0711	1.915	0.1299	1.2118	0.5352
	10	2010	0.6864	0.0886	0.0803	1.4073	0.1237	0.8612	0.5425
	11	2011	1.0194	0.0736	0.1066	0.6693	0.1059	0.5436	0.5466
	12	2012	0.7062	0.0349	0.0434	0.4316	0.0843	0.5709	0.5193
Company B	13	2004	1.0399	0.1913	0.2217	2.1185	0.2321	0	0.6224
	14	2005	1.0361	0.1927	0.1197	2.2878	0.2945	0	0.5844
	15	2006	1.0013	0.2272	0.3107	1.1938	0.305	0.0091	0.5829
	16	2007	0.9621	0.2158	0.1507	1.8247	0.2549	0.01	0.5364
	17	2008	1.2081	0.2234	0.1594	0.3759	0.4163	0.0029	0.5212
	18	2009	0.3273	0.0824	0.2047	0.9709	0.1309	0.0027	0.5989
	19	2010	0.593	0.1124	0.112	1.7664	0.1776	0.0017	0.578
	20	2011	0.6671	0.1167	0.1495	1.4662	0.2195	0	0.6069
	21	2012	0.6807	0.077	0.1142	1.9876	0.263	0.0015	0.5846