春兰公司财务风险评价及防范研究

发布时间：2018-03-03 04:28

本文选题：财务风险　切入点：综合评价模型　出处：《哈尔滨工业大学》2017年硕士论文　论文类型：学位论文

【摘要】：随着我国经济转型与升级的步伐加快,制造业面临着劳动力成本优势削弱、产业层次落后、环境与资源限制加大、出口增速放缓等困境。作为我国最早对外开放的产业之一,家电制造业面临着市场空间饱和、利润空间缩小、库存高企等现实困境。江苏春兰制冷设备股份有限公司曾是世界七大空调生产商之一,却因在空调行业发展的第一个瓶颈期内看淡主业转而进行多元化,从此主营业务一落千丈。确定回归主流品牌行列的战略后,春兰公司却面临着更加激烈的市场竞争。因此,本文的目的在于恰当地评价春兰公司的财务风险,提出有针对性的财务风险防范措施,为春兰公司改善现状经营提供一定参考。本文结合企业资料和行业背景初步识别了春兰公司的财务风险并分析了成因。识别结果显示,春兰公司存在一定的短期偿债风险、经营性资产投资风险,还存在严重的主营业务风险、存货变现风险以及应收账款回收风险。上述风险主要是由行业竞争因素和春兰公司内部管理问题导致的。本文依据财务风险的初步识别结果,确立了财务风险原始评价指标体系。在此基础上,本篇选用主成分分析法为春兰公司建立了财务风险综合评价模型,引入了评价标准,并应用上述模型综合评价春兰公司的财务风险。同业比较的结果显示,春兰公司的整体财务风险水平高,主营业务风险和存货变现风险是其亟待解决的风险。趋势分析的结果显示,春兰公司2015年的整体财务风险水平最高,2013年的财务风险水平最低。其财务风险水平的急剧升高是由原来的利好因素消失,所有财务风险因素一致恶化引起的。最后,结合财务风险评价结果及企业资料,本文分别从制度和文化、经营、筹资、投资四个层面提出了适当的财务风险防范措施。本文能够为春兰公司财务风险的评价及防范管理提供一定参考,为同业企业财务风险的评价提供一定借鉴。此外,本文在财务风险评价的指标选取、方法选择以及综合评价模型的建立上可以为财务风险的评价理论研究提供一定思路。
[Abstract]:With the accelerated pace of economic transformation and upgrading in China, the manufacturing industry is facing difficulties such as the weakening of labor cost advantages, backward industrial levels, increasing environmental and resource constraints, and slowing down export growth. As one of the earliest industries to open to the outside world in China, The home appliance manufacturing industry is facing real difficulties such as saturated market space, shrinking profit space and high inventory. Jiangsu Chunlan Refrigeration equipment Co., Ltd. was one of the seven largest air conditioning manufacturers in the world. But because in the first bottleneck period of the development of the air conditioning industry, the main industry turned to diversification, since then the main business has plummeted. After confirming the strategy of returning to the mainstream brands, Chunlan Company is facing more fierce market competition. Therefore, The purpose of this paper is to properly evaluate the financial risks of Chunlan Company, and put forward targeted financial risk prevention measures. This paper preliminarily identifies the financial risk of Chunlan Company and analyzes the causes of its financial risk combined with enterprise data and industry background. The results show that Chunlan Company has a certain short-term debt repayment risk. There is also a serious risk of major business operations in the investment risk of operating assets, The risk of inventory realization and the risk of recovery of accounts receivable are mainly caused by industry competition factors and internal management problems of Chunlan Company. The original evaluation index system of financial risk is established. On this basis, the principal component analysis method is used to establish the comprehensive evaluation model of financial risk for Chunlan Company, and the evaluation standard is introduced. The financial risk of Chunlan Company is evaluated by using the above model. The results of industry comparison show that the overall financial risk level of Chunlan Company is high. The risk of the main business and the risk of inventory realization are the risks to be solved urgently. The results of the trend analysis show that, The overall financial risk level of Chunlan Company was the highest in 2015 and the lowest in 2013. The sharp increase in its financial risk level was caused by the disappearance of the original favorable factors and the consistent deterioration of all financial risk factors. Finally, Based on the results of financial risk assessment and enterprise data, this paper respectively from the system and culture, management, financing, This paper can provide some reference for the evaluation and management of financial risk in Chunlan Company, and provide some reference for the evaluation of financial risk in the same industry enterprise. In this paper, the selection of financial risk evaluation indicators, the selection of methods and the establishment of a comprehensive evaluation model can provide some ideas for the theoretical study of financial risk evaluation.
【学位授予单位】：哈尔滨工业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F406.7;F426.6

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