Listed Companies Financial Risk Of Short-term Financing Bills Affecting Factors Empirical Research

tools in our capital market, has offered direct financing channel to enterprise specially listed company and so has been warmly welcomed by enterprises. But the successive financial risk.not only expose the company to the dishonor of the mature debts but also affect greatly to the capital market, investors'interest and society. So how to validly evaluate and take precaution against short-term commercial paper's financial risk , make the healthy and orderly development of the company, simultaneously protect the investors'interest, keep the sustainable and healthy development of the short-term commercial paper market, has become a critical problem for us to investigate.This paper firstly proposed the involved issues, and then theoretically analysis the short-term commercial paper's financing risk. And then by empirical study of short-term commercial paper of financial risk are analyzed. And with the building of the regressive model, affecting factors of financing risks are being regressive analyzed and checked .And in the end put forward some political suggestion about our national listed company's short-term commercial papers controlling.The results of the study indicate that: short-term debt paying ability, assets profitability and operation management, subject to credit rating, total assets of this a few variables listed companies on China's financial risks of short-term financing bonds has obvious negative influence; Long-term investment level of China's listed firms short-term financial risk has a positive impact, Servicing wayf enterprise growth is listed companies on China's financial risks of short-term financing bonds no significant influence.Finally, according to the conclusion, some Suggestions are offered: to control and prevent the listed company short-term financial risk, we should take precaution against the raising off short term funds for long-term investment, and set up a financial risk prevention mechanism, Vigorously develop long-term bond market, perfect the financing channels, Perfect credit rating system, gradually realize pricing fully market-oriented, and Strengthen information disclosure supervision.