The Research On Financial Riskanalysis And Control Of The Highway Listed Companies

At present, the operations of the Chinese highway listed companies are commonly ingood condition. However, with the consistent adjustments of the highway chargingpolicies, the industry transform and investment diversification on account of the highwaycharging deadline is approaching, parts of the highway listed companies’ profit ratio of netasset is decreasing, the asset liability ratio is increasing, then the financial risk is growing.The highway listed companies are the market entities of self-management andself-financing risk, which should evaluate accurately, analyze current situation, and face allkinds of financial risk in the future, so the companies should study the methods andspecific measures to control financial risk, and finally achieve the object of the healthy andsustainable-development companies.Hence, this paper uses these methods of the principal-agent theory, control theory andthe internal control theory to study the issues of financial risk analysis and control in thehighway listed companies. At first, this essay analyses and sums up the theories andpractical results about the financial risk analysis and control of highway listed companiesfrom home and abroad, the research basic theories and the conduct theories of financialrisk. Secondly, this paper chooses annual data of19highway listed companies in recent3years, then uses Z scoring model and related financial index data to summarize the overallstatus and specific performances of financial risk in companies, uses the related theories tototally analyze the reasons in companies from both external and internal perspectives. Atlast, this paper presents measures and advices to highway listed companies combined withthe managerial framework from the aspects of controlling environment, assessing risk,controlling, exchange of information and supervising. The most important point in thispaper is the highway listed company’s financial risk models which are constructed byusing factor analysis methods. This paper is aimed at giving some rational advices to thefinancial risk analysis and control of the highway listed companies.