Analysis On Financing Risk Management Of Agricultural Listed Companies

With affecting the Agriculture and the Nation Economy, the development of Agricultural Listed Company plays an important role in promoting agricultural industrialization, reducing the urban-rural gap and building a new socialist countryside. However, the financing risk of Agricultural Listed Company is increasing, and the financing environment is deteriorating, since of the global financial crisis. How to establish a sound financing risk management system and pull the agricultural listed company out of the plight involved the theoretical and practical significance.According to the basic points of System Theory, Risk Management and Capital Structure Principle, this paper summarizes the characteristics of Agricultural Listed Company, and then analyzes its specific situation, as well as the causes. The financing risk evaluation model is constructed by the Principal Component Analysis and Logistic Regression. Then it sets HuaYing Agriculture Co., Ltd as a case to verify the effectiveness of the evaluation model, accompany with the Composite Score method. At last, combining the experience of risk controlling tactics in those special treatment listed company, it proposes a few suggestions on technical operating and system constructing.The research indicates that, the factors of financing risk in Agricultural Listed Company include liquidity, capital efficiency, profitability, business risk, industry impact, interest rate fluctuating, capital structure, tax concessions, and so on. Then the financing risk evaluation model is constructed whose overall test accuracy reaches 92.6%. The innovation is observing the sample more thoroughly, the proportion of State-owned shares in the total share declines; the polarization occurs in the result of operation with the trend of increasing; the stated financial subsidies gradually reduced, but it against the Agricultural Listed Company's diversification; it guides two new elements (tax incentive and industry impact) into Logistic Model, and uses the "cash flow from financing activities" instead of "cash flow from operating activities" to accurate the correlation between risk financing and the financial ratio.