Study Financial Distress Of Private-owned Small-and Medium Enterprises Basted On Financial Engineering Perspective

With the rapid development of China's market economy, which develop with high speed in three decades Private-owned small-and medium enterprises have become the main force of market. Though the private-owned small-and medium enterprises has numerous number,but, the problems of the enterprise which is scale less generally, lacks competition ability, lacks financial management capacity has not been effectively resolved, Financial distress of private-owned small-and medium enterprises is exacerbating with The international financial crisis, national industrial structure adjustment and other factors. Traditional research methods and financial instruments have been unable to meet the increasingly complex financial environment。The development of financial engineering offer a new idea and method which solve financial distress of private-owned small -and medium enterprisesThis dissertation systematically reviewed financial engineering apply in domestic and foreign of nowadays and the theoretical basis of financial engineering. The financial problems of private -owned small -and medium enterprises are basis of financial engineering. These problems are mainly reflected that the source of sourcing financial means less souring financial cost is higher,Enterprise fund demand forecasting and cash flow mismanagement; Portfolio unreasonable; Information transmission is not smooth; financial-benefit analysis is lack of efficiency. Solutions of the thesis based on the principles of financial engineering Private-owned small and medium Enterprises are issuing short-term financing bonds which solve the problems which are the source of sourcing financial means less and souring financial cost is higher, The hedge ratios (OHRS) use of to reduce corporate taxes This paper selected a typical Private-owned small and medium Enterprises:analysis of that situation as example of JRF enterprise. The example use of financial engineering theory with JRFenterprise financial distress that given the relevant countermeasures.This first part of the financial engineering theory, this part systematically reviewed financial engineering apply in domestic and foreign of nowadays and the theoretical basis of financial engineering。The second part of the dissertation analysis Financial distress of Private-owned small and medium Enterprises which use of financial management theory.This part analysis the problems of private-owned small and medium enterprises of current in financing, capital controls, capital use, capital efficiency four areas. The third part is empirical part.