Financial Risk Analysis And Response From The Perspective Of Financial Leverage

Enterprises can bring financial leverage effect through debt management,but the financial leverage effect has positive and negative points.The use of financial leverage by enterprises may increase the returns of shareholders and the value of enterprises,and may also bring debt burden and financial risk to the company,causing the enterprise to fall into bankruptcy crisis.After the world financial crisis in 2008,the overall leverage ratio of our society continued to rise and the debt bubble gradually increased.According to the 2018annual report on China’s leverage ratio process,the overall leverage ratio of China’s society in 2018 was still as high as 243.7%,among which the leverage ratio of non-financial enterprises was the highest^（1）.Therefore,in recent years,the central economic work conference urged local governments and enterprises to reduce leverage and control risks.How to deleverage and prevent risk has become an important research field in current economic development.In the current economic environment,this research has practical guiding significance and theoretical significance.Based on the background of the age of"deleveraging control risk",selected the has important position in national economic development and the industry as a whole higher leverage manufacturing chemical raw materials and chemicals,and picked out the income scale in the industry production of debt and financial leverage is very high but a company-yun（600096）as a case study.In the article through collect the related literatures,the interpretation of the basic background of the sky,is firstly analyzed with financial leverage is changed from 2014 to 2018,reaching for the application situation,explore the use of financial leverage will produce negative effects,and by comparison with industry data,the index calculation,the model is calculated to evaluate cloud is facing the risk of financial leverage.Then through the company’s internal governance and the environment of the external environment in a more comprehensive analysis of the reasons for high debt,high leverage management,and finally on the basis of the previous research on the control of high financial risk management measures.First,to promote the transformation and upgrading of enterprises and promote the improvement of their profitability,which is the inevitable requirement for enterprises to maintain long-term development;Second,the establishment of a comprehensive financial risk management system,strengthen the risk awareness of the company’s management staff,to do prior prevention,in-process control;Third,expand the financing channels of enterprises,Yuntianhua more rely on direct borrowing,so in this aspect of financing,can be appropriate to use debt-for-equity and issue bills and other ways;Fourth,to carry out the sale and leaseback of fixed assets,can revitalize the fixed assets of enterprises,is conducive to the improvement of the solvency of enterprises;Fifthly,carry out the hedging business of futures.The trading scale of Yuntianhua grain trading business is large,and the implementation of futures hedging can avoid the risk caused by price fluctuation to a certain extent.About the financial leverage and the financial risk research,the domestic and foreign theoretical analysis has been numerous.The innovation of this paper lies in that combining with the reasons of Yuntianhua’s high debt and high leverage operation,this paper puts forward corresponding Suggestions on how to control the financial risk of Yuntianhua,and USES data to analyze and demonstrate the feasibility of this measure,as well as the possible effect after implementation.The Suggestions have strong pertinence.