本文選題：財(cái)務(wù)風(fēng)險(xiǎn) + 風(fēng)險(xiǎn)分析��； 參考：《西安石油大學(xué)》2015年碩士論文

【摘要】：市場經(jīng)濟(jì)下財(cái)務(wù)風(fēng)險(xiǎn)的客觀存在是任何企業(yè)都無法回避的。我國正處在經(jīng)濟(jì)下行與深化經(jīng)濟(jì)體制改革的重要階段,企業(yè)面臨的不確定性因素越來越多,財(cái)務(wù)風(fēng)險(xiǎn)管理涉及的內(nèi)容愈加復(fù)雜和重要。CQ公司是主營石油化工工程施工的上市公司,面對行業(yè)周期性波動、區(qū)域市場進(jìn)入壁壘以及過度依賴股東P集團(tuán)等問題,公司于2014年提出了“一元為主、多元發(fā)展”的總體發(fā)展戰(zhàn)略,希望通過開拓市場和業(yè)務(wù)范圍謀求更好發(fā)展。公司現(xiàn)處于快速成長期,開拓意識很強(qiáng),但風(fēng)險(xiǎn)管理意識不足。針對公司財(cái)務(wù)風(fēng)險(xiǎn)管理的缺失,作者希望通過本文的研究為CQ公司的財(cái)務(wù)風(fēng)險(xiǎn)管理提供思路與方法上的借鑒。本文先運(yùn)用zeta模型和自由現(xiàn)金流量法對CQ公司的財(cái)務(wù)風(fēng)險(xiǎn)狀況進(jìn)行了綜合評價(jià)。再采用財(cái)務(wù)比率法,從籌資風(fēng)險(xiǎn)、投資風(fēng)險(xiǎn)、現(xiàn)金流風(fēng)險(xiǎn)、資金占用風(fēng)險(xiǎn)與擔(dān)保風(fēng)險(xiǎn)五個(gè)維度進(jìn)行分類分析,通過橫向與縱向?qū)Ρ群饬科洳煌S度下的財(cái)務(wù)風(fēng)險(xiǎn)水平,尋找各類風(fēng)險(xiǎn)產(chǎn)生的內(nèi)在原因。最后,根據(jù)分析的結(jié)果提出了控制CQ公司財(cái)務(wù)風(fēng)險(xiǎn)水平的建議措施。分析結(jié)果表明CQ公司總體財(cái)務(wù)風(fēng)險(xiǎn)水平較高,具體表現(xiàn)為短期償債風(fēng)險(xiǎn)、盈利不足導(dǎo)致的投資風(fēng)險(xiǎn)和現(xiàn)金流風(fēng)險(xiǎn)、已完工未結(jié)算資產(chǎn)導(dǎo)致的資金占用風(fēng)險(xiǎn)以及高風(fēng)險(xiǎn)擔(dān)保問題。本文首先建議CQ公司將財(cái)務(wù)風(fēng)險(xiǎn)管理納入企業(yè)文化并建立全過程管理機(jī)制為后續(xù)風(fēng)險(xiǎn)控制措施的開展提供良好的軟環(huán)境。其次通過加強(qiáng)對已完工未結(jié)算資產(chǎn)的管理提升資產(chǎn)運(yùn)營效率;通過加強(qiáng)全流程成本控制、調(diào)整多元化投資業(yè)務(wù)組合提高整體盈利水平;通過實(shí)施現(xiàn)金流監(jiān)控加強(qiáng)現(xiàn)金流管理,通過尋求多元化籌資方式、充分利用商業(yè)信用、鼓勵(lì)現(xiàn)金銷售等措施增加現(xiàn)金凈流入;通過降低對控股股東的依賴性和加強(qiáng)對外擔(dān)保的內(nèi)部控制降低不合理的高風(fēng)險(xiǎn)擔(dān)保水平。從而將CQ公司的財(cái)務(wù)風(fēng)險(xiǎn)控制在合理水平,為公司總體戰(zhàn)略的實(shí)施保駕護(hù)航。為同樣遭受國際油價(jià)下跌和國內(nèi)經(jīng)濟(jì)下行等不利因素沖擊的同類型企業(yè)提供財(cái)務(wù)風(fēng)險(xiǎn)管理思路上的參考。
[Abstract]:Under the market economy, the objective existence of financial risk is unavoidable to any enterprise. China is in an important stage of economic downturn and deepening the reform of the economic system. Enterprises are facing more and more uncertain factors. The content of financial risk management is becoming more complex and important. CQ Company is a listed company which mainly deals with petrochemical engineering construction. Facing the periodic fluctuation of the industry, regional market entry barriers and over-reliance on P Group of shareholders, etc. In 2014, the company put forward the overall development strategy of "one dollar, multiple development", hoping to seek better development through the development of market and business scope. The company is in a rapid growth period, a strong sense of development, but lack of awareness of risk management. In view of the lack of financial risk management, the author hopes to provide some ideas and methods for CQ company's financial risk management through the research of this paper. In this paper, zeta model and free cash flow method are used to evaluate the financial risk of CQ Company. Then using the financial ratio method, from the financing risk, the investment risk, the cash flow risk, the capital occupation risk and the guarantee risk five dimensions to carry on the classification analysis, through horizontal and vertical contrast measures its financial risk level under the different dimension. Look for the internal causes of all kinds of risks. Finally, according to the results of the analysis, some measures to control the financial risk level of CQ Company are put forward. The results show that the overall financial risk level of CQ company is high, including short-term debt repayment risk, investment risk and cash flow risk caused by insufficient profit, capital occupation risk caused by completed unsettled assets and high risk guarantee. Firstly, this paper suggests that CQ should bring financial risk management into the corporate culture and establish a whole process management mechanism to provide a good soft environment for the subsequent risk control measures. Secondly, by strengthening the management of completed unsettled assets to enhance the efficiency of assets operation; by strengthening the cost control of the whole process, adjusting the portfolio of diversified investment to improve the overall profitability level; through the implementation of cash flow monitoring to strengthen cash flow management, By seeking diversified ways of financing, making full use of commercial credit, encouraging cash sales and other measures to increase the net cash inflow, reducing the dependence on controlling shareholders and strengthening the internal control of external guarantee to reduce the unreasonable level of high risk guarantee. Thus, the financial risk of CQ Company is controlled at a reasonable level, which guarantees the implementation of the company's overall strategy. This paper provides a reference for the financial risk management of the same type of enterprises which are also affected by the international oil price decline and the domestic economic downturn and other adverse factors.
【學(xué)位授予單位】：西安石油大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2015
【分類號】：F406.7;F426.92

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