Risk Assessment Of Debt Financing Based On Matter-Element Extension Under The Financial Model

Based on the analysis of business model,the retail industry shows the phenomenon of large-scale operation and low profit in the development process.The emergence of a similar financial model provides innovative thinking for the development of the retail industry,making it out of the current predicament.The similar financial model refers to an operating model in which non-financial companies use the financial model in their operations to absorb and occupy funds through low or zero cost means,and then generate additional benefits through these funds.Similar financial models have been widely used in China's retail industry in recent years.Suning Tesco,which has repeatedly ranked first among the top 100 chain companies in China,is a typical enterprise that used this model earlier.The successful application of financial like model is inseparable from the huge network sales system and strong bargaining power of suppliers.The similar financial model makes great contribution for Suning Tesco mainly in store expansion,acquiring more market share,and improving the competitive advantage of the enterprise,which further consolidated Suning Tesco's dominant position in the market.The excessive proportion of current liabilities of similar financial model companies has a large impact on the rationality of corporate debt structure and short-term solvency.While benefiting from similar financial model,their debt financing risks under similar financial model also deserve attention.Therefore,the establishment of a reasonable and scientific debt financing risk evaluation system to assess the magnitude of debt financing risk has important guiding significance for better use of similar financial model.Based on a large amount of literature,this article first clearly defines the concepts of similar financial and debt financing risks.Based on this,combined with the characteristics of quasi finance model,it classifies debt financing risk into several different risk types,such as debt structure risk,capital repayment risk and capital operation risk.For each specific risk,a reasonable index is selected to constitute a financial model enterprise debt financing risk evaluation index system.Due to the timeliness of risk assessment and the large correlation between the evaluation indicators may lead to duplication of evaluation information,matter-element extension theoretical model is selected for risk evaluation,and the analytic hierarchy process is applied to determine the index weight.Compared with other evaluation models,the matter-element extension model does not need to standardize the data,and the calculation results will reduce some errors with one less process.The index of this evaluation method can be unstable index,which can be applied to the changing evaluation conditions and evaluation indexes,so that the evaluation has timeliness.The matter-element extension method can more clearly reflect the impact of each index on the evaluation object and express the level of the evaluation object in quantitative form by calculating the correlation degree of each index and each level.On the whole,Suning Tesco's debt financing risk level is at a medium level under the use of a similar financial model.Specifically,its capital operation risk and fund repayment risk risk level are relatively high.Taking Suning Tesco as a case to evaluate the debt financing risk under its similar financial model can not only help enterprises to pay more attention to the debt financing risk,but also produce certain reference significance for the theoretical innovation in the field of debt financing risk evaluation of enterprises under the similar financial model.