Research On Financial Stress Test Of State-owned Listed Companies

As the relationship between the state-owned enterprises of the national eco-nomy,after the annual subsidies to give strong support,there is still a differe-nt degree of loss.Although state-owned enterprises can get bank loans,but de-bt for new debt pattern has not changed,companies with little profit growth point,in the long run,enterprise can't repay the bank loan in time,also appea-red in the state-owned enterprise debt default.In recent years,the state-owned enterprises are a wave of defaults.State-owned enterprises with government support,requires Banks to lend.And for Banks to lend money to close not to come back,can increase the proportion of non-performing assets of Banks.The contradiction between the two sides can not be reconciled,so state-owned enterprises should be based on their own development,a correct understanding of their financial pressure,to seek a sustainable development path.Pressure test first began in the late 19 th century,the test object,including the major commercial Banks and financial firms,in the 1990 s,China's com m-ercial Banks began to rise,at the same time to the real estate enterprises to expand.And this paper referring to the methods of state-owned commercial ba nk stress tests of the listed company financial stress testing framework are discussed in this paper.Measure in extreme circumstances(prices,interest rates,e tc.)companies withstand the impact of the critical value.Financial stress testing framework is established on the basis of the comprehensive budget,USES is estimated data,estimates of future financial condition of enterprises.Accordi ng to estimate data,whether cash flow fracture to the enterprise,enterpri se can create value,enterprise whether delisting,enterprise can sustainable growth to measure these aspects,the results of measuring a financial stress level classification,finally concluded that the enterprise is in what kind of degree of fina-ncial pressure.This paper selected in unnan stock co.,LTD as a case,to the enterprise is expected,the report of consideration in the case of price change,analyzes the enterprise cash flow fracture,enterprise economic value added,w hether delisting,enterprise sustainable growth of this a few aspects of evaluati on,it is concluded that a company is a dangerous type of enterprise financial pressure.This paper builds a for state-owned listed companies financial pressure tes ting framework,measure in some extreme cases(price,exchange rate,etc.)companies withstand the impact of the critical value,the degree of pressure on c ompanies to do a classification,for the enterprise in the process of production and operation made a risk early warning mechanism,reduce the financial pres sure.