Abstract
Coal is China's basic energy, the coal industry is an important basic industries. In
the Twelfth Five-Year Plan period, the state will adhere to the joint as a link to the
resources, capital, technology, Industry, and actively promote the construction of
thirteen large coal bases,develop inter-regional, cross-industry, cross-ownership,
cross-border coal enterprise groups. Since 2001,investment in fixed assets of the coal
mining industry has been sustained upward momentum, the results of large-scale
investment in fixed assets is a national annual coal production from 23.5 million tons
in 2005,' increased to 32.4 million tons in 2010. The rapid increase of coal production,
although one can meet the energy demand of the development of the national
economy, but on the other hand,greatly increased the risk of coal enterprises. The
development of coal enterprises affected by resource storage conditions,the macro
economic situation, industry policy, the downstream industry boom,the
decision-making and management level of uncertainty. Effects of financial crisis on
China's economy still is in continuously, the coal enterprises are facing a variety of
internal and external risks, but the financial risk is the concentrated embodiment of
many risk. How to control financial risks, timely find the business potential risks and
guard against them the protection of investors and creditors and other stakeholders
interests has become a new topic in the academic circle, government and enterprises
must face. Our research on the control theory of financial risk is relatively backward,
on the basis of domestic and foreign financial risk control related research,, combined
with the author to participate in the H-Energy Company Limited financial
management,,study the relevant subject to control the financial risk of coal
enterprises, hoping to provide some experience for the domestic coal enterprise.
In this paper,on the basis of strategic management theory, risk control theory, by
using the method of case study and normative research, is divided into five parts: the
first part is the introduction, introduces the related content of the research background,
research significance, research methods; the second part focuses on the basic theories
related to financial risk control, including the definition, classification, characteristics
in
源,煤炭工业是我国重要的基础产业。进入“十二五
期间,国家继续在全国范围内积极推进大型煤炭基地的建设,调整煤炭行业的发
展布局,使之更符合国民经济发展的需要。自2001年起,煤炭采选业固定资产
的投资一直呈持续上升势头,2011年投资约为4700亿元。大规模固定资产投资
的结果是全国煤炭年产量由2005年的23. 5亿吨,增加到2010年的32. 4亿吨,
每年以1. 8亿吨的幅度激增。煤炭产能的快速增加,虽然一方面可满足国民经
济发展对能源的需求,但另一方面大大增加了煤炭企业的风险。煤炭企业的发展
受资源储存状况、宏观经济形势、行业政策、下游行业景气度、经营者决策和管
理水平等不确定性因素的影响。金融危机对我国经济的影响仍在持续,煤炭企业
面临着各种各样的内部和外部风险,而财务风险是诸多风险的集中体现。怎样做
好财务风险控制,及时发现企业存在的风险隐患并加以防范,保护投资者和债权
人等相关利益关系人的权益就成为学术界、政府和企业必须面对的一个新课题
我国对财务风险控制理论的研究还相对比较滞后,本文将在对国内外财务风险控
制的相关研究成果的基础上,结合笔者参与的H能源股份有限公司财务管理工
作,对煤炭企业财务风险控制相关课题进行研究,希望可以为国内煤炭企业提供
一点借鉴经验
本文以战略管理理论、风险控制相关理论为基础,采用案例研究和规范研究
相结合的研究方法,共分五部分:第一部分是文章的引言,介绍了本文的研究背
景、研究意义、研究方法等相关内容;第二部分重点介绍了财务风险控制的相关
基础理论,包括财务风险定义、分类以及财务风险识别的方法等内容。第三部分
主要是对煤炭企业财务风险控制进行研究,包括我国煤炭企业财务风险控制存在
的问题及原因分析等内容;第四部分是案例分析,引入H能源股份有限公司财务
风险控制案例,首先介绍了该公司的基本情况,其次对其财务风险做了全面分析
和研究,提出财务风险控制的相关措施建议。第五部分主要是结合前面理论分析
和案例分析,对我国煤炭企业构建防范财务风险的长效机制提出对策
本文的特色及创新之处在于,借鉴国内外对财务风险控制研究的一些成熟理
论和方法,同时结合案例分析,依据煤炭行业的特殊性对煤炭企业存在的财务风
I
险进行识别和分析,将财务风险定量分析方法应用于财务风险控制中,提出科学
合理的风险防范机制。本文在风险理论研究方面较为系统和深入,对财务风险控
制在行业实际应用方面是一种尝试,对国内类似企业财务风险控制具有一定的借
鉴意义
关键词:煤炭企业;财务风险;风险控制
II
and financial risk identification method. The third part mainly focuses on coal
enterprises to control financial risks, including China's coal enterprise financial risk
problems and cause analysis, content of the control; the fourth part is the case analysis,
reference H energy Limited by Share Ltd financial risk control case, first introduced
the basic situation of the company, then made a comprehensive analysis and Study on
its financial risk, propose relevant measures to control financial risk. The fifth part is
combined with the previous theoretical analysis and case analysis, put forward
countermeasures of coal enterprises in our country to build a long-term mechanism to
prevent financial risk.
Features and innovations of this article,learn domestic and foreign financial risk
control mature theories and methods, combined with case studies,based on tiie special
nature of the coal industry financial risk, identify and analyze the coal enterprises
financial risk,the quantitative analysis method is applied to financial risk control, put
forward the scientific and reasonable risk prevention mechanism. This paper in the
research of risk theory systematically and deeply,on the financial risk control in the
practical application of industry is an attempt, for the domestic similar enterprises
financial risk control it has a certain significance.
Key words: Coal Enterprises; Financial Risk; Risk Control