Yili Shares Financial Flexibility Research

Financial flexibility is a new research topic in financial field,and has been paid more and more attention by both theoretical and practical fields.In recent years,influenced by the social,political and economic environment at home and abroad,the operating environment of our enterprises is complex and the uncertainty is increasing.Especially for dairy enterprises,to the financial crisis,small to frequent exposure to food safety issues,the risk of financial distress and brought fierce competition in the market,business and financial risk,the enterprise environment uncertainty greatly enhance,how to maintain adequate financial flexibility,flexible response to adverse shocks,grasp the favorable investment opportunities in the future that is the need to consider the enterprise financial policy choice problem.This paper adopts the theoretical research methods combined with the actual case,and the selection of bright dairy dairy industry as comparison object,collection of Yili,Bright Dairy,dairy industry in 2008 to 2015 financial data of Yili flexible financial research.According to the research status at home and abroad,on the basis of existing theory,combined with the status quo of Yili operation,the flexible financial index analysis,found to corporate financial flexibility of composite management,should consider the cash flexibility,flexibility,debt equity flexibility of the relationship between the countries consider impact on corporate financial flexibility,improve enterprise financial flexible,reduce the cost of acquisition.Therefore,the analysis of financial flexibility index based on entropy weight model and TOPSIS method based on Yili financial flexibility for specific quantitative analysis,the Yili in impact indicators of corporate financial flexibility of the discriminant results with higher levels of financial flexibility and flexible rights to a greater extent.Then,the overall evaluation of Yili's financial flexibility is made.It is considered that the appropriate adjustment of the capital structure,the reduction of the debt ratio and the improvement of the flexibility of debt are the financial strategies of Yili's urgent affairs.In the end,some suggestions for similar enterprises are put forward.