Research On Solvency Risk Management In Bond Financing Of XX Urban Investment Company

In recent years,China’s local government bond financing and local investment and financing platform based bond financing scale of urban investment is growing rapidly,and city bond financing has become an important channel for local governments to raise funds for construction.With the increasing burden of local government debt,the payment risks of local government and city investment companies have been accumulated.Properly resolving the debt financing risk of local governments and city investment companies is an important aspect for the government to formulate administrative decisions and strengthen internal management,and is also one of the important directions of many theoretical researches.The identification,measurement and evaluation of the bond financing risk of the city investment company is the precondition for us to prevent the risk,and the most important risk is to pay the risk.Therefore,this article will take the XX city investment company as an example to analyze the problem of the debt financing risk management of the city investment company,which is bound to have important theoretical and practical significance.In the research process of this article,the research methods,such as literature review,analytic hierarchy process and case analysis,are mainly used,firstly reviews the relevant literatures on the bond financing risk,bond financing risk management,city investment company bond financing reimbursement risk management research at home and abroad,find the entry point to this study and existing research,and the city voted the company,bond financing,bond financing,the city investment company solvency risk and solvency risk management concept,and based on the theory of public goods,fiscal decentralization theory,information asymmetry theory,game theory and moral risk of the city investment company solvency risk bond financing mechanism analysis.Secondly,we use AHP to make a systematic and scientific evaluation of the factors that affect the repayment risk of XX City bond financing,such as macroeconomic situation,regional economic development and financial strength,government support,industry status and company financial status.According to the results of the evaluation,evaluation,issuance of corporate bond financing solvency risk management system has carried on the analysis to the XX city investment rating and management from the aspects of bonds,find out the XX city investment company debt repayment problems and the reasons of risk management,the main problems are concerned with understanding the performance of their duties are not in place,the production and management decision-making science,City Investment Company Limited Green bonds;the main reason for these problems is the city investment company bond financing supervision mechanism needs to be perfect,the city voted to lower level,the governance of modern company city investment company sustainable development ability is not strong.Again,this article based on the analysis of the above reasons,puts forward measures and suggestions,enhance the XX city investment company bond financing solvency risk management level is mainly:to further improve the city investment bond and regulatory measures,to enhance the city investment bond issuer credit level,and promote the city investment company governance capacity modernization,city investment continued to improve the ability of sustainable development company,up grading the debt financing risk of city investment company to reduce the level of factors.The innovation of this paper is:(1)from the perspective of city investment company,this paper studies the problem of bond payment risk management from the perspective of city investment,which has changed the vision of previous research on local government bond financing,and achieved a breakthrough in the research field.(2)in the research method,this paper adopted not only by AHP to XX city investment company bond financing solvency risk situation analysis,and Empirical Analysis on the change of corporate bond financing and solvency risk management,highlighting the typical problems,the main research focus.