The Research On Financial Relief Of *ST Salt Lake

Income and risk are contradictory symbionts.If enterprises only pursue high interests,they will face high risk.If the enterprise does not effectively balance the income and risk,the risk is easy to lead to financial distress.The strategic system view is based on the combination of the system view and the strategic view,systematically analyzes the strategic risk,the management link risk,the internal control risk and the residual risk faced by the enterprise.At present,more and more enterprises are in financial distress,which brings losses to many stakeholders.Therefore,it is very important to analyze the deep causes of financial distress and find a way out.This article takes*ST Salt Lake as the research object,first combs the domestic and foreign related theory research to the financial distress through the literature analysis method;secondly uses the case analysis method to describe*e ST Salt Lake to fall into the financial distress process and the present situation,and uses the strategic system analysis method to carry on the layer by layer analysis to the enterprise to fall into the financial distress,the research finds:(1)in the strategic risk analysis level,the macroeconomic decline,the industry competition intensifies,the industry economy periodicity and adopts the excessively radical diversification strategy is causes the enterprise to fall into the financial distress;(2)At the risk level of management links,insufficient supply of raw materials,too high price of factors of production,and reduced market demand are all the middle-end reasons that cause enterprises to fall into financial difficulties;(3)at the level of corporate governance and internal control,the low decision-making level of the board of directors,the high risk preference of managers and the existence of major defects in overconfidence and internal control are the reasons for the difficulties of enterprises.(4)At the level of financial risk,insufficient profitability,lack of operating capacity and unreasonable capital structure are the direct causes of financial distress.Then through factor analysis and regression analysis,the core causes that affect the plight of enterprises are found from the above reasons.This paper gives some strategies to get rid of difficulties:(1)strategic reorganization at the strategic level to improve core competitiveness;(2)strengthening strategic cooperation between upstream and downstream enterprises and implementing talent strategy at the management level;(3)improving internal governance structure,improving incentive mechanism,and improving internal control of risk assessment,control activities and supervision;(4)improving cost and expense accounting system,improving asset management model and adjusting capital structure at the financial level.In order to help*ST salt lake and the same financial difficulties of enterprises to get rid of difficulties smoothly.