Management Of Capital Risk In Import Agent Business

Agent import industry is suffering significant changes,with the feature of increasing responsibilities and risks borne by the agents,as the long lasting development.Especially,the capital risks are becoming new challenges.Corporation A,as the commercial part of the Chinese aviation industry system,is also suffering the impact of the capital risks in its agent business.Such phenomenon of the increasing capital risks was construed as the inadequacy of the contracts and the different profit goals of the principals and the agents,both of which were out of the insufficient "Principal-Agent Theory",on the basis of that "Principal-Agent"relationship was essentially regarded as the contract relationship about the venture and the inspiration.Besides,"Asymmetric Information Theory",which was recognized as one of the core theory of the modern economics theories,leads to"adverse selection" and "Moral Risk".The author analyzed the capital risks rising from the practical agent business of Corporation A to search the impact factors from outside and inside of the corporation by the method of cases studying with the "Principal-Agent Theory" and "Asymmetric Information Theory".It is concluded that the outside factors contains the client’s knowledge and management of the capital chains,the time variation of the budget settlement,transfer and arrival,and the communication issues between the parties,while the inside factors contains the inadequacy of the capital supervision system in the corporation and the lack of the risk consciousness of the employees.In the end,management suggestions for the capital risks control of Corporation A were put forward as the factors mentioned about analyzed.Regarding to the outside factors,it was designed that the clauses of the contracts were to assure the safety of the Corporation A’s capital.And so were the management system of the clients’credits,the solution of the budget issues out of industrial chain and the channels and methods to communicate.For the inside part,it was suggested that the system to enhance the management of the capital was,the informationization of the practical operation level to strengthen the system influence and to weaken the personnel factors was.It is expected that these suggestion can be proved to manage the capital risks of the Corporation A’s agent business efficiently and can be referred by other similar enterprises.