Analysis On Credit Risk Of Logistics Listed Enterprises

With the economic globalization and reform and opening up,China has become an influential logistics country.With the rapid development of China's logistics industry,the demand of logistics society is increasing.However,China's logistics industry still faces the problems of high cost and poor performance,such as lack of credibility and breach of contract.So how to prevent the credit risk of logistics industry and improve the credit level of enterprises is an urgent problem to be solved.In this paper,the financial data of listed logistics enterprises in 2014-1018 is taken as the research sample to evaluate the credit risk of enterprises.Interest expense,liability and equity are selected as the input indicators of the enterprise,while main business income,net profit margin of total assets,cash and its cash;equivalents are selected as the output indicators.First of all,using the traditional DEA model to evaluate the credit efficiency of logistics industry,it can be seen that the credit efficiency of most enterprises belongs to the.low efficiency state,and the credit efficiency of enterprises needs to be further improved.The main reason for the low comprehensive efficiency of the enterprise is the low pure technical efficiency,which means that the enterprise should pay attention to the investment of science and technology,so as to realize the adaptation of the technical investment of the enterprise to the scale development of the enterprise.Secondly,the super SBM model is used to analyze the credit efficiency of enterprises,and the conclusion is that the enterprises in super efficiency account for less than one-third of the total number of enterprises,most of the enterprises' credit efficiency belongs to the low efficiency state,and the credit efficiency of enterprises needs to be further improved.In the past five years,the credit efficiency of logistics industry has been fluctuating and rising,but the credit efficiency has not reached an effective state.It shows that enterprises should strengthen internal system management,risk management and financial management to make resource allocation more scientific,improve enterprise credit efficiency and reduce enterprise credit risk.From the perspective of investment redundancy,enterprises should reduce the amount of investment and reduce the occurrence of redundancy in the future operation process.From the perspective of insufficient output,insufficient output will lead to limited growth and profitability of enterprises,and then affect the net income of enterprises.Insufficient income will affect the expenditure of various expenses and the development of production business transactions,and then affect the credit level of enterprises.Finally,Tobit regression model is used to analyze the influencing factors of enterprise credit risk.The conclusion is that the credit risk of logistics industry is negatively related to the asset liability ratio and the listed years of the enterprise,and positively related to the total assets,the level of economic development and the rate of return on net assetsFinally,combined with the above analysis,this paper proposes that logistics enterprises should strengthen the internal credit management system,do a good job in capital control to form the best asset scale,use new technology to optimize the allocation of resources,improve the utilization rate,enhance the profitability and optimize the financial structure to reduce credit risk.