Research on financial risk assessment and control of Chinese education listed companies under regulatory policy adjustments

This doctoral thesis investigates the financial risk assessment and control mechanisms specific to Chinese education-listed companies, providing actionable insights for practitioners, policymakers, and researchers. The study first establishes its theoretical foundation through a systematic literature review of financial risk methodologies and case studies within global and Chinese education sectors, grounded in risk management and internal control frameworks. Employing a mixed-methods approach,
the research integrates qualitative analysis of industry-specific risk factors with quantitative modeling to identify prevalent financial vulnerabilities. Subsequently, it develops a robust financial risk control framework validated through empirical analysis of New Oriental Education & Technology Group (NYSE: EDU) as a representative case study. Data were derived from panel datasets including audited
financial statements (2012-2022) and regulatory filings. Methodologically, the study combines Analytic Hierarchy Process (AHP) for indicator weighting, Altman's Zscore for distress prediction, the entropy weight method for data calibration, and fixedeffects regression to address unobserved heterogeneity and endogeneity concerns. The
new model AEZ is combined, and correlation matrices ensured variable independence.Key findings reveal a statistically significant inverse relationship between financial risk exposure and sustainable development, operationally validate
the AHP-constructed risk assessment system via sector-specific adaptability metrics, and evidence the materialization of financial risks across three critical dimensions: financing activities (reflected in debt-service capacity), investment activities (manifested as cash flow volatility), and operational activities (measured through asset turnover efficiency).