本文選題：財(cái)務(wù)風(fēng)險(xiǎn)　切入點(diǎn)：綜合評(píng)價(jià)模型　出處：《哈爾濱工業(yè)大學(xué)》2017年碩士論文　論文類(lèi)型：學(xué)位論文

【摘要】：隨著我國(guó)經(jīng)濟(jì)轉(zhuǎn)型與升級(jí)的步伐加快,制造業(yè)面臨著勞動(dòng)力成本優(yōu)勢(shì)削弱、產(chǎn)業(yè)層次落后、環(huán)境與資源限制加大、出口增速放緩等困境。作為我國(guó)最早對(duì)外開(kāi)放的產(chǎn)業(yè)之一,家電制造業(yè)面臨著市場(chǎng)空間飽和、利潤(rùn)空間縮小、庫(kù)存高企等現(xiàn)實(shí)困境。江蘇春蘭制冷設(shè)備股份有限公司曾是世界七大空調(diào)生產(chǎn)商之一,卻因在空調(diào)行業(yè)發(fā)展的第一個(gè)瓶頸期內(nèi)看淡主業(yè)轉(zhuǎn)而進(jìn)行多元化,從此主營(yíng)業(yè)務(wù)一落千丈。確定回歸主流品牌行列的戰(zhàn)略后,春蘭公司卻面臨著更加激烈的市場(chǎng)競(jìng)爭(zhēng)。因此,本文的目的在于恰當(dāng)?shù)卦u(píng)價(jià)春蘭公司的財(cái)務(wù)風(fēng)險(xiǎn),提出有針對(duì)性的財(cái)務(wù)風(fēng)險(xiǎn)防范措施,為春蘭公司改善現(xiàn)狀經(jīng)營(yíng)提供一定參考。本文結(jié)合企業(yè)資料和行業(yè)背景初步識(shí)別了春蘭公司的財(cái)務(wù)風(fēng)險(xiǎn)并分析了成因。識(shí)別結(jié)果顯示,春蘭公司存在一定的短期償債風(fēng)險(xiǎn)、經(jīng)營(yíng)性資產(chǎn)投資風(fēng)險(xiǎn),還存在嚴(yán)重的主營(yíng)業(yè)務(wù)風(fēng)險(xiǎn)、存貨變現(xiàn)風(fēng)險(xiǎn)以及應(yīng)收賬款回收風(fēng)險(xiǎn)。上述風(fēng)險(xiǎn)主要是由行業(yè)競(jìng)爭(zhēng)因素和春蘭公司內(nèi)部管理問(wèn)題導(dǎo)致的。本文依據(jù)財(cái)務(wù)風(fēng)險(xiǎn)的初步識(shí)別結(jié)果,確立了財(cái)務(wù)風(fēng)險(xiǎn)原始評(píng)價(jià)指標(biāo)體系。在此基礎(chǔ)上,本篇選用主成分分析法為春蘭公司建立了財(cái)務(wù)風(fēng)險(xiǎn)綜合評(píng)價(jià)模型,引入了評(píng)價(jià)標(biāo)準(zhǔn),并應(yīng)用上述模型綜合評(píng)價(jià)春蘭公司的財(cái)務(wù)風(fēng)險(xiǎn)。同業(yè)比較的結(jié)果顯示,春蘭公司的整體財(cái)務(wù)風(fēng)險(xiǎn)水平高,主營(yíng)業(yè)務(wù)風(fēng)險(xiǎn)和存貨變現(xiàn)風(fēng)險(xiǎn)是其亟待解決的風(fēng)險(xiǎn)。趨勢(shì)分析的結(jié)果顯示,春蘭公司2015年的整體財(cái)務(wù)風(fēng)險(xiǎn)水平最高,2013年的財(cái)務(wù)風(fēng)險(xiǎn)水平最低。其財(cái)務(wù)風(fēng)險(xiǎn)水平的急劇升高是由原來(lái)的利好因素消失,所有財(cái)務(wù)風(fēng)險(xiǎn)因素一致惡化引起的。最后,結(jié)合財(cái)務(wù)風(fēng)險(xiǎn)評(píng)價(jià)結(jié)果及企業(yè)資料,本文分別從制度和文化、經(jīng)營(yíng)、籌資、投資四個(gè)層面提出了適當(dāng)?shù)呢?cái)務(wù)風(fēng)險(xiǎn)防范措施。本文能夠?yàn)榇禾m公司財(cái)務(wù)風(fēng)險(xiǎn)的評(píng)價(jià)及防范管理提供一定參考,為同業(yè)企業(yè)財(cái)務(wù)風(fēng)險(xiǎn)的評(píng)價(jià)提供一定借鑒。此外,本文在財(cái)務(wù)風(fēng)險(xiǎn)評(píng)價(jià)的指標(biāo)選取、方法選擇以及綜合評(píng)價(jià)模型的建立上可以為財(cái)務(wù)風(fēng)險(xiǎn)的評(píng)價(jià)理論研究提供一定思路。
[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.
【學(xué)位授予單位】：哈爾濱工業(yè)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類(lèi)號(hào)】：F406.7;F426.6

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