Study On The Reasons And Coping Strategies Of The Financial Distress Of JiuGuiJiu

Under the general background of economic globalization,market competition which enterprises are facing constantly increase.At the same time,the number of enterprises that get into the financial difficulties and the frequency of the same enterprise in financial difficulties are also increasing.When an enterprise is in financial difficulties,it will lead to different degrees of financial difficulties.Therefore,in recent years,both academic and practical circles have paid great attention to the financial difficulties of enterprises.At the same time,the government has issued relevant policies to guide and help enterprises out of financial difficulties.Researches on enterprise financial distress in academic circles at home and abroad are rich,but mainly concentrated on the financial distress pre-warning,influence factors and so on,while measures about how to help enterprises out of financial trouble are less.regarded the JiuGuiJiu as the research object,through to the enterprise in three different performance of tracking financial distress,this article analyzes the enterprise measures taken by every time in financial trouble.through deeply thinking that the corporate has less energy to govern the financial difficulties,they found that enterprises and forms in the different stages of development in the causes of financial difficulties are different.if management can't suit the remedy,The only way to cure a headache is to stop the boiling.This is the starting point and the end-result of this paper.Based on the single case method,financial indicators analysis,comparative analysis,taking JiuGuiJiu as their main content of three financial difficulties,they analyzed the reasons which lead to the enterprise into the dilemma and the measures which they should take.what's more,they track and analyze the enterprises' changing situation from two aspects-financial and non-financial in 2001-2017 case,finding that firstly,reasons which lead the JiuGuiJiu to frequently get into the trouble are: incomplete corporate governance structure,"a dominant" phenomenon,big shareholders occupy huge sum funds of enterprises,the short-term debt paying ability;Secondly,the enterprise internal control is a sham,the product structure is unreasonable and the cost is too high;Thirdly,the corporate governance measures after getting into trouble are lack of pertinence,mainly through governance restructuring,strategic and operational restructuring,asset restructuring,financial restructuring to restore the plight.Fourthly,an enterprise takes the change of management as the first choice of measures to deal with financial distress every time.the more frequently the company's management changes,the more likely the enterprise will get into trouble,and the richer the professional background of the management will be,the more beneficial it will be for the recovery of financial distress.