As the indicator of business operation, the research of financial crisis not only has high academic value, but also has great practical significance.

企业财务危机预测研究作为企业经营的指示灯，不仅具有较高的学术价值，而且有着很大的现实意义。

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Being a weatherglass for economics performance as well as an indicator for enterprises' operation, financial crisis warning not only has high academic value but also great significance applied value.

财务预警系统研究作为经济运行的晴雨表和企业经营状况的指示灯，它不仅具有较高的学术价值，而且具有巨大的社会应用价值。

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What happens to private equity may be a leading indicator of how the crisis in the financial system will affect the rest of the business world, both because private-equity deals are so dependent on large amounts of debt, and because many of the shrewdest judges of corporate value work for private-equity funds.

ECONOMIST: Business and the credit crunch