The Financial Risk Analysis Of Enterprises’ Short-term Financing Bond-based On A Company

China is up against enormous challenges related with financial reform nowadays:such as fast growth of money supply, low efficiency of indirect financing,uneven development of some financial market segments and difficult conversion of household savings into investment.All of these situations are hindering the conduction mechanism of monetary policy and obstructing macro-control.In this market situation, the short-term financing bond of PBOC is a crucial policy measure of advancing the reform of financial system and developing monetary market.This innovation plays an important role in adjusting the disproportionality of indirect and direct financing, increasing the direct financing channels for enterprises,preventing the abnormal growth of money supply,dredging the transmission mechanism of monetary market, stimulating the coordinated growth of capital market and monetary market,and maintaining a stable financial market in China as well as posing positive effects on micro-subjects including investors,underwriters and enterprises.However, as a result of the deficiency of China’s financial environment,there are still lots of potential risks(for example financial risk)and short comings existing in the market,which is worthy of our attention.Short-term financing bond is successful innovative financing tool,has offered direct financing channel to enterprise specially big enterprises and so has been warmly welcomed and followed. But the successive financial risk not only expose the company to the dishonor of the mature debts but also affect greatly to the investors,capital market and the whole society. So how to validly evaluate and take precaution against short-term financing bond’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 financing bond market,has become a critical problem for us to investigate.This article starts off with the current market operational situation of short-term financing bond, relates specifically to the short-term financing bond issuance of company A in 2012, and combines theories and practice for discussion using financial analysis methods based on data such as accounting information.The research question is stated first, and theoretical elaboration and analysis are performed on the influence factors of financial risks associated with short-term financing bond.The research objective is to carry out detailed analysis on financial risks of enterprise short-term financing bond from the perspectives of the most important participants- the issuing companies, through practical cases.Based on these, this article also proposes suggestions on the development of short-term financing bond in China.