本研究雖然考慮了雙指標以及外部公司治理變數，但是仍有以下研究限制，
往後學者若能排除研究限制，必能產生較佳之模型。
一、本研究排除金融業及公共事業以外之上市公司，但是在該期間內金融票券業 事實上發生危機者不在少數，有討論之價值與必要，然受限於行業特性將之排除 在外，就研究而言不免有遺珠之憾。且各產業其產業特性皆有不同，僅排除金融 業及公共事業超嫌不足，如果可以再將產業別細分，將類似產業分為群體，或許 可以提高預測能力。
二、公司可藉由會計方法之變動操弄損益情況而影響到財務比率的數字，故會計 報表數字是否忠實表達為一大漏洞。本文無法排除公司操弄財務報表的情況。
三、就財務分類方式而言，企業發生財務危機雖為發生或不發生之零與一事件，
但仍有可能介於發生與不發生之輕微財務危機公司，近來已有學者細分為嚴重財 務危機公司、輕微財務危機公司、財務正常公司，較符合實際狀況。但本研究仍
為二分法，建議往後學者可以加以考慮。
四、企業經營之好壞除了公司層面的非系統性風險以外，亦受景氣循環、政府政 策、等系統性風險的影響。如果可以將總體經濟指標或是系統性風險加以量化加 入模型之中，必能提高模型的預測準確度。
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