Research On Financing Risk Of Listed Enterprises In Shanxi

With the accelerating of economic globalization process, marketingcompetition becomes increasingly fiercely, in order to strengthen the listedcompanies’ strength, to obtain more profits in competition, companies face ahuge capital demanding, which needs enterprises continuously raising money,enterprises need financing activities in the market. Only the enterprise obtainsenough capital to normal production and operation activities, the enterprise willmake the ideal incomes. But, when the enterprises’financing activities obtainyields, if the money is allocated unreasonably and used undeserved, it willalso have a great financing risk, and the debt financing as the main way ofenterprise raising money, it will bring a huge benefit for the enterprise, but italso can bring potential risks at the same time, So if the enterprise take the debtfinancing, which size of the debt financing is reasonable situation, that is aproblems which need the enterprise to consider, therefore, the study ofenterprises’debt financing risk has a very important practical significance.This paper defines listed company firstly and introduces some basicknowledge associated with debt financing risk, including the meaning of debtfinancing, the channels and elaboration of the debt financing risk. And on thebasis of describing the risk of debt financing’s inner meaning, we highlight thespecific classification and related characteristics of the debt financing’s risk andthe positive effect and negative effect of the enterprise debt financing, etc.Secondly, we analysis the causes of corporate debt financing’s risk from theinfluencing the external and internal factors; Then, I analysis the corporate debtfinancing risk by designing the debt financing risk evaluation index system fromfive aspects containing the solvency, profitability, capital structure and so on,which we can used to determine the main factors affecting the risk of corporatedebt financing and risk size, providing some feasibility proposals to the preventthe debt financing risk by analysising and judging the size of theenterprises’financing risk, Next, I make a concrete analysis to Shanxi Provincelisted enterprise by two empirical analysis methods which are multiple linear regression analysis and cluster analysis. Finally, I put forward the correspondingmeasures to prevent the risk of debt financing for the enterprise from the scaleof the liabilities and capital structure based on the empirical analysis impact ofthe main elements to the risk of debt financing.