首页 > 资料专栏 > 论文 > 经营论文 > 风险管理论文 > MBA硕士毕业论文_波圣龙股份公司财务风险研究

MBA硕士毕业论文_波圣龙股份公司财务风险研究

湖北圣龙
V 实名认证
内容提供者
资料大小:1730KB(压缩后)
文档格式:DOC
资料语言:中文版/英文版/日文版
解压密码:m448
更新时间:2022/5/2(发布于湖北)

类型:金牌资料
积分:--
推荐:升级会员

   点此下载 ==>> 点击下载文档


文本描述
宁波圣龙股份公司财务风险研究 在当前的市场经济之下,各个行业中的竞争可谓异常激烈,随时都有企业 倒闭破产的事件发生。这其中很大一部分都是企业的财务状况恶化甚至资金断 流所导致的,而财务状况的恶化又很大程度上来源于企业对财务风险的忽略。 因而经营过程中,企业对于财务风险的相关工作应该特别重视。对财务风险的 挖掘和防控可以有助于企业实现利润最大化和长期可持续发展的目标。 全球汽车行业经过不断的革新和发展,目前已成为世界上规模最大的产业 之一。我国的汽车产业,也随着改革开放步伐的加快得到了飞速的发展。在我 国汽车市场的带动之下,处在汽车产业链中游的零部件行业也在近几年迎来了 好的机遇。但好的大环境带来更好的发展机会的同时,也产生了更加激烈的竞 争。2018 年,整个汽车行业在全球范围内遇冷,全球汽车市场结束了连续 7 年 的上涨。因为汽车零部件行业的生产和销售受下游整车行业影响较大。我国的 汽车零部件企业也受到了大范围的冲击。宁波圣龙股份公司同样受到影响,公 司的多项财务指标出现了连续两年的恶化,在国内零部件行业的竞争中显出颓 势,如此发展下去很有可能出现财务危机。在这种情况下,财务风险的识别和 防控显得尤其重要。 本文以圣龙股份公司财务报告为数据和信息来源,以财务管理相关知识为 理论基矗先利用 Altman Z 指数、杜邦分析体系等工具,对企业财务状况进行 综合分析。后以公司财务活动的基本内容作为分类依据,从筹资活动,投资活 动,资金回收活动和股利分配活动四个角度,分别对比并分析多种财务指标, 挖掘圣龙股份实际经营过程中存在的财务风险。发现圣龙股份在企业运营过程 中有偿债能力弱;生产项目投资风险较高、股权投资风险过于集中;资金回收 能力减弱和股利分配不合理等财务风险。 为了对圣龙股份的财务风险进行防控,本文进一步对企业披露的细节和财 务数据进行分析,找出企业现存财务风险的成因。最后以通用的财务风险应对 方法为依据,对公司存在的四个方面的财务风险提出针对性的风险防控措施。II 筹资风险的防控措施:合理搭配长、短期负债比例;提高资产流动性;适度负 债;强化筹资环节的风险管理。投资风险的防控措施:强化管理;提高管理决 策者的风险意识;制定多元化的投资组合。资金回收风险的防控措施:提高产 品竞争力;强化存货,应收账款和企业信用的管理;适当的利用现金折扣,促 销手段和赊销信用保险。收益分配风险的防控措施:建立独立董事制度;强化 监事会职能。以期为圣龙股份的财务管理工作提供参考。 本文的分析虽然全部针对圣龙股份,但实际上很多汽车零部件企业也存在 相同的问题,且形成原因十分类似。希望本文对其他汽车零部件企业的财务风 险防控同样有一定的参考价值。 关键词: 财务风险,风险分析,风险防控III ABSTRACT Research on Financial Risk of Ningbo Shenglong Co., Ltd. Under the current market economy, competition in various industries can be described as extremely fierce. Business failures and bankruptcies occur at any time. A large part of this is caused by the deterioration of the company's financial situation or even the outage of funds, and the deterioration of the financial situation is due to the company's neglect of financial risks. Therefore, in the course of operation, enterprises should pay special attention to the work related to financial risks. And the mining and prevention of financial risks can help companies achieve the goal of maximizing profits and long-term sustainable development. After continuous innovation and development, the global automotive industry has now become one of the largest industries in the world. China's automobile industry has also developed rapidly with the acceleration of reform and opening up. Driven by China's automobile market, the parts industry in the middle of the automobile industry chain has also ushered in good opportunities in recent years. But while a good environment brings better development opportunities, it also produces more intense competition. In 2018, the entire automotive industry experienced a cold on a global scale, and the global automotive market ended its seventh consecutive year of rise. Because the production and sales of the auto parts industry are greatly affected by the downstream vehicle industry. China's auto parts companies have also been hit on a large scale. Ningbo Shenglong Co., Ltd. is also affected. Many of the company's financial indicators have deteriorated for two consecutive years, showing a decline in the competition of the domestic parts industry. If this continues to develop, there may be a financial crisis. In this case, the identification and prevention of financial risks are particularly important. This article takes Shenglong's financial report as the source of data and information, and takes financial management-related knowledge as its theoretical basis. First use the Altman Z index, DuPont analysis system and other tools toIV conduct a comprehensive analysis of the company's financial situation. After taking the basic content of the company's financial activities as the basis for classification, from the four perspectives of financing activities, investment activities, fund recovery activities and dividend distribution activities, respectively, compare and analyze a variety of financial indicators to explore the financial existing in the actual operation of Shenglong risk. It was found that Shenglong shares have weak solvency during the operation of the enterprise; the investment risks of production projects are high, and the risks of equity investment are too concentrated; financial risks such as weakened capital recovery capacity and unreasonable dividend distribution. In order to prevent the financial risk, this article further analyzes the details and financial data disclosed by the company to find out the causes of the company's existing financial risks. Finally, based on the general financial risk response method, it proposes targeted risk prevention measures for the company's four aspects of financial risk. Financing risk prevention and control measures: reasonable mix of long-term and short-term debt ratios; improve asset liquidity; moderate debt; strengthen risk management in the financing process. Investment risk prevention measures: strengthen management; increase risk awareness of management decision makers; formulate a diversified investment portfolio. Prevention measures for capital recovery risks: improving product competitiveness; strengthening inventory, accounts receivable and corporate credit management; appropriate use of cash discounts, promotional methods and credit sales credit insurance. Prevention measures for income distribution risks: establish an independent director system and strengthen the functions of the board of supervisors. With a view to providing reference for Shenglong's financial management. Although the analysis in this article is all for Shenglong, in fact, many auto parts companies also have the same problems, and the reasons are very similar. I hope this article will also have a certain reference value for the prevention and control of financial risks of other auto parts companies. Key words: Financial risk, risk analysis, risk prevention and controlI 目 录 第 1 章 绪 论 ........................................................................................1 1.1 研究背景与研究意义.....................................................................1 1.2 研究方法与内容.............................................................................2 1.3 理论基础与文献综述.....................................................................3 第2章 宁波圣龙股份公司的财务现状分析及财务风险识别...................9 2.1 宁波圣龙股份公司的财务现状分析...........................................10 2.2 基于杜邦分析法的企业财务分析...............................................13 2.3 基于 Altman Z 模型的财务分析.................................................15 2.4 宁波圣龙股份公司的财务风险识别...........................................16 第 3 章 宁波圣龙股份公司财务风险的成因分析..............................28 3.1 筹资风险的成因分析...................................................................28 3.2 投资风险的成因分析...................................................................31 3.3 资金回收风险的成因分析...........................................................32 3.4 收益分配风险的成因分析...........................................................34 第 4 章 宁波圣龙股份公司财务风险的防控对策..............................37 4.1 筹资风险的防控对策...................................................................37 4.2 投资风险的防控对策...................................................................38 4.3 资金回收风险的防控对策...........................................................40 4.4 收益分配风险的防控对策...........................................................41 结 论.......................................................................................................43