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Research On State-owned Enterprises Financial Risk Management

Posted on:2004-02-05Degree:DoctorType:Dissertation
Country:ChinaCandidate:T G LiFull Text:PDF
GTID:1116360125958100Subject:Management Science and Engineering
Abstract/Summary:PDF Full Text Request
Risk management is one of important problems in the course of running and developing contemporary firms, including state-owned firms. Due to rapid developments in social politics and economy as well as tremendous changes in technical revolution, enterprises are facing more uncertain running environments, more risk factors, and harsher competitive and severe challenges in surviving. That is how the problem of firms' risk management is put forward. Western countries regard risk management, strategic management, and running management as three core management functions in contemporary economic organization, which are critical parts in future firms' core competitive. Financial risk management is the core of firms' risks management, and the key point of it is to pre-control and manage the potential financial risks and crisis in order to prevent these risks change into financial and surviving crisis. In this way, enterprises can go on living and developing. The position and function of state-owned enterprises in national economy decide that state-owned enterprise's financial risks will greatly affect the whole country's banking risks and economic risks. Therefore, research on state-owned firms enterprise's financial risk management is meaningful. ' .Researches on risk management are earlier in abroad than in China, so big firms have relatively consummate risk management mechanisms, more professional risk managers, and better risk management information system (RMIS). Now risk management has been a brand new function and an important part of firms' core competitive. But research achievements and the related methods in the field of foreign firms' financial risks management cannot satisfy the actual needs of Chinese firms yet. Specific situations in China decide domestic firms' financial risks. Furthermore, the risks of state-owned firm are not only in common with that of western ones, but also have their specialties. Hence, this paper tightly combines specific situations in China with current situations and needs in state-owned enterprises' financial risks management on the basis of taking use of foreign and domestic financial risk management researches. This paper make a deeply and systematical analysis in related theories of firm financial risks, the categories of financial risks, and the causes of financial risks inrespective of instability, uncertainty, asymmetric information, irrational psychology and behavior, natural calamity and occurrences in contemporary society. Furthermore, this article gives a detailed research on internal and external factors lead to state-owned enterprises' financial risks in China. On the basis of that, this paper is trying to analyze and find related theories and methods to escape firm financial risks, such as how to recognize, measure, estimate, control, and deal with these financial risks. In order to put theory into practice, this article is relating practical woks with economic pre-alert theory, building pre-alert indexes system of firm financial risks, and developing pre-alert radar management system. So that we can comprehensively evaluate firms' balance sheet, income statement, flowing sheet, and financial risks, which are based on firms' financial sheets and related financial information data. So it is a beneficial try to consummate RMIS.This paper is composed of eight parts. The first two parts mainly introduces research backgrounds, contents and methods. The third part elabprate causes of financial risks and reveal the internal causes in respective of instability, uncertainty, asymmetric information, irrational psychology and behavior, natural calamity and occurrences in contemporary society. The fourth part is mainly about internal factors which affect firm financial risks and their effects to firm financial risks, such as market sailing risks, investment risks, technical innovation risks, guarantee risks, credit risks, manager morality risks and mechanism risks. The fifth part is mainly about external actors which affect firm financi...
Keywords/Search Tags:state-owned enterprises, financial risk, risk management, risk pre-alert radar management system
PDF Full Text Request
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