The Research On Financial Risk Evaluation Of The Small And Medium-sized Enterprises Based On Analytic Hierarchy Process

In2011,"private lending","financing difficulty"and other words often appear on reports about small and medium-sized enterprises(SMEs) from different TVs and newspaper.To SMEs in our country,2011is the coldest year.With the development of China’s reform and opening up,SMEs’development tendency is very strong.SMEs play a great role in providing the employment post,maintaining social stability and promoting economic development.At present,SMEs registered in Chinese ministry of commerce are more than10,230thousand,99%of the total registered enterprises.And their industrial production have already accounted for more than60%of the whole country.Meanwhile,social economic environment is changeable. The global financial crisis is not over.The problem of SMEs1fanancing difficulty appears afterward. SMEs in our country is facing the unprecedented great challenge.The small and medium-sized enterprises have some inherent weak in the management process, like the fund is relatively deficient, the internal management extensively, lacks the long-term plan, risk consciousness is weak and so on, these all gave the enterprise the considerable development to bring the monumental impediment.Faces in the small and medium-sized enterprise in the risk, the financial risk the influence is biggest to the enterprise. When in front of to financial risk threat, compares the major industry, the small and medium-sized enterprise appears feels helpless, resists with difficulty.Therefore, to the financial risk effective appraisal, appears regarding enterprise’s risk control and the management and operation especially importantly.How seeks to one most suitable method carries on the reasonable appraisal to SMEs financial risk, causes the enterprise to carry on the risk management even more with a clear goal,becomes the small and medium-sized enterprise risk research the important topic.Currently, many domestic and foreign scholars take a lot of research on financial risk evaluation problem,but the vast majority of these studies was for large listed companies, research methods for the quantitative analysis method applicable to listed companies, such as Beaver, Professor of financial early-warning model of single variable, Chen Jing to do financial analysis of single-variable.But because of SMEs’ small,inadequate financial system, limitations on the use of these methods have a lot of. Level analysis method as a qualitative and quantitative phase combination of decision analysis method, can applies Yu exists uncertainty and subjective information of situation, and can will complex problem decomposition for several level and several factors, in all factors Zhijian for simple of comparison and calculation, came different elements accounted for total target of weight, for decision provides is good of pursuant to, this in SMEs financial evaluation area has must of superiority. General evaluation method does not take into account features of enterprise financial risks in all stages of development, so this article combined with the SME life cycle theory, analytic hierarchy process method, its financial risk assessment for targeted analyses.This theoretically defined standards of SMEs, and financial risk analysis provides an overview the concepts of both General and special. At the same time, this article from the start with the SMEs in China, analysis and summary of the small and medium enterprise financial risk causes and characteristics of the four stages of the life cycle, and make links and features of small and medium enterprise finance risk evaluation clear. Then, through a comparative analysis of financial risk evaluation methods of existing features and limitations, so as to lead to discussion and this article will focus on SMEs financial risk evaluation methods that are described, that is analytic. Authors using the principles of hierarchy analysis method, combined with the characteristics of SMEs financial risk, constructed out of SMEs financial risk evaluation model, and elaborated on its steps. Finally, this case select stone electronic financial risks, details the practical application of SMEs financial risk evaluation model,showing the practical value of this model.This article is divided into four chapters:The first chapter SMEs financial risk assessment theory outline.Including carries on the limits to the small and medium-sized enterprise division standard and the financial risk concept, has analyzed SMEs financial risk origin and the characteristic, elaborates the links and features of SMEs financial risk assessment.The second chapter is present SMEs financial risk assessment method and limitation.To the Deuel Philippines method,the risk analytic method, the single variable model distinguished the law, the multi-dimensional linearity distinguished the law and the artificial nerve distinguished method concerning carries on the analysis comparison using the characteristic and the limitation.The third chapter is analytic hierarchy process in SMEs financial risk assessment utilization.Began from the analytic hierarchy process basic content and the characteristic, to analyze the analytic hierarchy process in the SMEs financial risk assessment serviceability, and the structure left SMEs financial risk assessment structural model,the union enterprise life cycle theory, related in detail this model in risk assessment application method.The fourth chapter is based on analytic hierarchy process small and medium-sized enterprise financial risk assessment method application.Through to the Zhejiang river sky stone electron corporate financial risk case analysis, utilizes the small and medium-sized enterprise financial risk assessment structural model, has carried on the effective appraisal to various financial risk essential factor.