Research On Financial Risk Management Of Domestic Barrage Video Website Based On COSO-ERM

With the continuous development of science and technology,the Internet has become more and more important in people’s lives while bringing convenience to human life.As the protagonist of the Internet era,the importance of Internet enterprises in China’s and even the global economic development can not be ignored,and the Internet video industry is integrated into the daily life of thousands of households through this development.Although China’s Internet video industry started late,it is full of momentum.Through a short period of development,it has explored a relatively stable video website operation mode and formed a mature ecological model.As a new form of video website,the barrage video website has been gradually welcomed by young people since its introduction in China.In recent years,by expanding the content of the website and expanding its influence,it has gradually grown into an online community that provides cultural content for young people.Because young people have a strong driving force for the online entertainment industry,the barrage video site has great potential for development.Because of the continuous expansion of scale,in order to survive and develop the website,the barrage video website that was initially operated in a non-profit state also began to seek commercialization.However,the management lag of the barrage video website is in stark contrast with the rapid growth of the website,which poses a huge risk to the operation of the website,especially the financial risk,which has brought great resistance to the development of the website.For financial risk management,many scholars at home and abroad have done a lot of research.However,by reading a large number of documents,few scholars have studied and integrated the financial risks of Internet companies,and the research involving the barrage video website is even rarer.Considering that many similar video websites are also facing financial risks in the process of seeking development,they are caught in financial difficulties,resulting in a series of serious consequences such as bankruptcy and merger.At the same time,such enterprises do not pay attention to financial risk management.This type of enterprise does not have a mature risk management system,and most of the barrage video websites basically do not have any financial risk management measures.Therefore,in order to enable such enterprises to develop healthily,a risk management system adapted to the barrage video website is urgently needed.As a model of global enterprise risk management,the COSO-ERM framework has generally enhanced the risk awareness of the board of directors and management since the first release of the COSO committee in 2004,and strengthened the management of corporate risks.Since the promulgation of more than a decade,new risks have been generated due to the increasing complexity of risks.In response to these situations,the COSO Committee released an updated comprehensive risk management framework in September 2017 to implement the COSO-ERM framework.Reconceived and discussed how to create value for the enterprise from the perspective of integrated risk management and ensure the realization of strategic goals.This paper uses the case analysis method to conduct research.Firstly,it introduces the related research results of financial risk management at home and abroad.By expounding the basic content of financial risk,comparing several financial risk management theories,we choose to use COSO-ERM theoretical framework to guide the barrage video.The website design financial risk management system,while introducing the 2017 COSO-ERM theoretical framework,compares it with the 2004 version of the ERM framework,and sorts out its development process,and analyzes the key changes and characteristics of the new ERM framework.Then,by analyzing the main reasons for the financial risk generated by the domestic barrage video website,taking the video website of the barrage as an example,the financial characteristics and business model of the website for the past three years are analyzed.The operation of the website,from which the financial risk of the website is derived,as a specimen to support the design of the financial risk management system for the barrage video website.Finally,by referring to the more mature risk management system and combining the new COSO-ERM theoretical framework,a more appropriate financial risk management measures are designed for the barrage video website,in order to provide reference for similar enterprises.