The Research On Financial Risk Of Paper Industry Listed Corporation Based On Lever Theory

In 2007 September, in order to improve the development of forestry enterprises, the state issued a series of policies. Such as the State Forestry Administration and other seven ministries jointly issued a "forestry industry policy points" brings hope for the development of forestry enterprises. Despite the support and protection of national policy, the development of forestry enterprises is inevitably faced with some unfavorable factors, mainly its weak economic foundation, and the shortage of funds, taking the forest resources as the objects, the long investment cycle and the affect of natural environment conditions. In addition, paper enterprises belong to resource-depending enterprises, in the background of ecological civilization construction and protecting the ecological environment, the timber supply tension, market price instability and many other factors bring varying degrees of operational risk for forestry enterprises. Paper industry are representative in the forestry industry, its scientific development has an important effect on the whole forestry industry, therefore in this paper, putting papermaking industry listing Corporation as an example, applying leverage analysis method to the scientific and reasonable evaluation and control of the financial risk is of great significance.This paper is divided into six parts:the first part in the domestic and foreign background leverage theory under study summarizes the domestic and foreign experts and scholars to study on financial risk point of view, combined with their own understanding of the financial risk of the nature, consider that in the use of leverage analysis,can analyze where and what the industry risk is, and enhance their core competitiveness; the second part describes the theoretical basis of financial risk,the third part describe the reason of company’s financial risk, the forth part papermaking industry listing Corporation as an example of empirical research on the financial risk, firstly the definition of the variables and the data processing, and then use the SPSS.20 software for factor analysis; the fifth part analysis of the causes of the financial risk were obtained through the empirical research conclusion and puts forward the corresponding control strategy.