發(fā)布時(shí)間：2018-05-27 03:33

  本文選題：財(cái)務(wù)風(fēng)險(xiǎn) + F分?jǐn)?shù)模型　； 參考：《山東農(nóng)業(yè)大學(xué)》2017年碩士論文

【摘要】：近年來(lái),伴隨著市場(chǎng)化進(jìn)程的加快,農(nóng)產(chǎn)品流通體制改革和價(jià)格管制的逐步放開(kāi),以及農(nóng)業(yè)高新技術(shù)的采用和推廣,農(nóng)業(yè)面臨的市場(chǎng)風(fēng)險(xiǎn)、技術(shù)風(fēng)險(xiǎn)和財(cái)務(wù)風(fēng)險(xiǎn)愈發(fā)凸顯。種業(yè)作為農(nóng)業(yè)產(chǎn)業(yè)的重要分支,在“十三五”規(guī)劃和農(nóng)業(yè)供給側(cè)改革等政策的影響下,種業(yè)企業(yè)的市場(chǎng)競(jìng)爭(zhēng)壓力加大,資本結(jié)構(gòu)和產(chǎn)業(yè)結(jié)構(gòu)的調(diào)整難以適應(yīng)市場(chǎng)的變化,正面臨著越來(lái)越嚴(yán)峻的財(cái)務(wù)風(fēng)險(xiǎn)形勢(shì)。企業(yè)如果不加強(qiáng)對(duì)財(cái)務(wù)風(fēng)險(xiǎn)的防控,一旦惡化,將引發(fā)嚴(yán)重的財(cái)務(wù)危機(jī)。因此,分析種業(yè)企業(yè)的財(cái)務(wù)風(fēng)險(xiǎn)并提出防控措施對(duì)種業(yè)企業(yè)的可持續(xù)發(fā)展有著至關(guān)重要的作用。本文在財(cái)務(wù)風(fēng)險(xiǎn)相關(guān)理論研究的基礎(chǔ)上,以我國(guó)種業(yè)上市公司——DH種業(yè)公司為具體實(shí)例,通過(guò)模型分析法、財(cái)務(wù)比率分析法、案例分析與實(shí)證研究相結(jié)合的方法,沿著“理論歸集—基本情況分析—總體財(cái)務(wù)風(fēng)險(xiǎn)分析—具體財(cái)務(wù)風(fēng)險(xiǎn)及成因探究—提出風(fēng)險(xiǎn)防控對(duì)策”的基本思路展開(kāi)《DH種業(yè)公司財(cái)務(wù)風(fēng)險(xiǎn)分析》的撰寫(xiě)。首先,本文闡述了研究背景、意義、研究的方法和創(chuàng)新點(diǎn),梳理了財(cái)務(wù)風(fēng)險(xiǎn)相關(guān)理論,闡明了財(cái)務(wù)風(fēng)險(xiǎn)的概念、分類(lèi)和分析方法,為下文的案例分析打下理論基礎(chǔ);其次,本文介紹了種業(yè)的行業(yè)特點(diǎn)和財(cái)務(wù)狀況,對(duì)DH種業(yè)公司的經(jīng)營(yíng)情況、治理結(jié)構(gòu)和資金使用特點(diǎn)進(jìn)行了簡(jiǎn)單分析;再次,本文實(shí)證分析了F分?jǐn)?shù)模型對(duì)種業(yè)上市公司的適用性,通過(guò)F分?jǐn)?shù)模型對(duì)DH種業(yè)公司進(jìn)行總體財(cái)務(wù)風(fēng)險(xiǎn)分析,得出該公司目前不存在財(cái)務(wù)危機(jī),但在同行業(yè)中的財(cái)務(wù)風(fēng)險(xiǎn)水平很高,這是由資本結(jié)構(gòu)不合理和盈利能力低導(dǎo)致的;又用財(cái)務(wù)指標(biāo)對(duì)該公司籌資、投資和運(yùn)營(yíng)三個(gè)環(huán)節(jié)進(jìn)行具體財(cái)務(wù)風(fēng)險(xiǎn)分析,結(jié)果表明:該公司籌資風(fēng)險(xiǎn)最高,運(yùn)營(yíng)風(fēng)險(xiǎn)次之,投資風(fēng)險(xiǎn)最小,主要影響因素為資本結(jié)構(gòu)、組織結(jié)構(gòu)、產(chǎn)業(yè)結(jié)構(gòu)和公司財(cái)務(wù)管理制度等;最后,本文根據(jù)影響財(cái)務(wù)風(fēng)險(xiǎn)的成因從籌資、投資和運(yùn)營(yíng)三個(gè)環(huán)節(jié)分別提出財(cái)務(wù)風(fēng)險(xiǎn)防控措施。
[Abstract]:In recent years, with the acceleration of the marketization process, the reform of agricultural product circulation system and the gradual liberalization of price control, as well as the adoption and promotion of high and new agricultural technology, the market risk, technical risk and financial risk facing agriculture have become increasingly prominent. Seed industry, as an important branch of agricultural industry, under the influence of policies such as the 13th Five-Year Plan and agricultural supply-side reform, the market competition pressure of seed industry enterprises has increased, and the adjustment of capital and industrial structure is difficult to adapt to the changes in the market. Is facing more and more severe financial risk situation. If enterprises do not strengthen the prevention and control of financial risks, once the deterioration, will lead to serious financial crisis. Therefore, it is very important to analyze the financial risk of seed enterprises and put forward the prevention and control measures for the sustainable development of seed enterprises. On the basis of the theoretical research on financial risk, this paper takes the listed company of seed industry in our country, DH seed Company, as a concrete example, and combines the method of model analysis, financial ratio analysis, case analysis and empirical research. Along with the basic thinking of "theoretical collection-basic situation analysis-overall financial risk analysis-specific financial risk and its cause of formation-putting forward the countermeasures of risk prevention and control", the author of "Financial risk Analysis of DH seed Company" is carried out. Firstly, this paper expounds the research background, significance, research methods and innovation points, combs the related theory of financial risk, clarifies the concept, classification and analysis method of financial risk, and lays a theoretical foundation for the case analysis below. This paper introduces the industry characteristics and financial situation of seed industry, analyzes the management situation, governance structure and capital use characteristics of DH seed company. Thirdly, this paper empirically analyzes the applicability of F score model to seed industry listed companies. Through the analysis of the total financial risk of DH seed company by F score model, it is concluded that there is no financial crisis, but the level of financial risk in the same industry is very high, which is caused by unreasonable capital structure and low profitability. The results show that the financing risk of the company is the highest, the operational risk is the second, and the investment risk is the least, the main influencing factor is the capital structure. Organizational structure, industrial structure and financial management system of the company. Finally, according to the causes of influencing financial risk, this paper puts forward financial risk prevention and control measures from three aspects: financing, investment and operation.
【學(xué)位授予單位】：山東農(nóng)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)】：F302.6;F324.6

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