Research On Liquidity Risk Management Of Financial Companies Of ZY Enterprise Groups

Over the past two decades,Chinese finance companies have played an important role in the centralized management of enterprise group funds,in the spirit of "relying on enterprise group and service enterprise group".They help the enterprise group realize the effective allocation of capital,reduce the transaction costs between the internal membership,and ease the enterprise group financing constraints,Now they have become a very important force in financial institutions.With the rapid development of economic globalization and the deepening of financial liberalization,the scale of enterprise groups is getting bigger and bigger,and the economic cooperation among enterprise group member units is more closely.The group finance companies face great development opportunities,and they also face the test of liquidity risk.Liquidity risk has the characteristics of linkage and high concentration.If the financial company can't effectively control its liquidity risk,once the liquidity crisis occurs,not only the financial company's business will be affected,but also the whole enterprise chain will be hit hardly.As a result,the level of liquidity risk management is critical to the management and risk management of finance companies.However,in our country,compared with commercial banks,Chinese financial company liquidity risk management has not been given full attention.There are some problems in the concept of liquidity risk management and risk management technology.This paper aims to study the liquidity risk management of Chinese finance companies.The author searches the relevant literatures at home and abroad,and uses the combination of theoretical analysis and case analysis,combined with the case of ZY finance company in the specific practice of liquidity risk management,and puts forward some suggestions on its liquidity risk management measures,so as to provide examples for the financial risk management of Chinese financial companiesThrough the analysis of the cases of liquidity risk management of ZY finance company,this paper draws the following conclusions:(1)ZY finance company liquidity risk early warning mechanism is not perfect;(2)Quantitative tools of liquidity risk management are relatively backward;(3)Risk management system policy is not perfect;(4)Liquidity risk management is susceptible to group administrative interventions.On the basis of this,the paper puts forward some suggestions on the process of liquidity risk management of financial companies:(1)Improving the liquidity risk early warning mechanism(2)Introducing the scientific quantitative tools of liquidity risk;(3)Improving the internal control system;(4)Properly dealing with the relationship with the ZY Group and its member units(5)Accumulating and develop risk management human resources;(6)Building the company's risk management culture.The whole paper is divided into five chapters.The first chapter is the introduction,and it mainly introduces the research background and significance of this paper,domestic and foreign related research literature,research ideas,research methods and research framework.The second chapter is the theoretical part of the financial company's liquidity risk management theory,which is the theoretical part of this paper.It mainly introduces the business scope and function status of the finance company of our country,the characteristics and causes of the liquidity risk of the financial company,and lays a theoretical foundation for the analysis of this paper.The third part is the case introduction of ZY finance company's liquidity risk management.It mainly introduces the basic business situation of ZY finance company,and expatiates its liquidity risk management framework in detail,and analyzes its liquidity risk management level.The fourth part is the analysis of the problems and causes of liquidity risk management in ZY finance company.It mainly points out the problems existing in the process of liquidity risk management of ZY finance company,and analyzes the causes of these problems.The last part is recommendations to improve the ZY finance company liquidity risk management.