Research On Influencing Factors Of Rural Commercial Bank’s Value Creation Ability

According to data from the Bank for International Settlements and the National Finance and Development Laboratory,by the end of June 2020,the overall leverage ratio of China’s non-financial enterprises was 164.4%,that is,the total debt of non-financial enterprises was 1.64 times of the total GDP at that time,which was a big increase compared with the leverage ratio of 151.9% at the end of 2019.And it is much higher than the world average of 0.91 times.In 2019,the number of Chinese enterprises defaulting on their debts reached a new high,with a total of 77 enterprises defaulting on their debts.In 2020,the scale of China’s debt default funds reached a new high,with a total of 133.038 billion yuan.In this environment,Kangdexin shares also have many debt default events,which have a great negative impact on the market.Therefore,this paper selects Kangdexin shares as the research object to explore the change of corporate default risk and the reasons for default.This paper combines case study with empirical research,adopts quantitative analysis and qualitative analysis,uses default distance model to measure the change of debt default risk of Kangde New Shares,and studies the reasons for debt default of Kangde New Shares.This paper mainly includes six parts: The first part is the introduction of the full text.The second part is about the concept and theory of debt default.The third part is an overview of the case of breach of contract of Kangde New Shares.The fourth part establishes the default risk measurement model to calculate the change of the debt default risk of Kangdexin shares.The research finds that the default distance of Kangdexin shares in 2018 is decreasing continuously,and the debt default risk is significantly increased,which is an obvious signal of the debt default in2019.Then analyze the reasons for the debt default of Kangde New Stock in 2019,and find that there are many reasons for the debt default of Kangde New Stock.From the perspective of operation risk,the external financing environment is tight,the industry competition pressure is great,the enterprise development strategy is radical are all the reasons that lead to the debt default of Kangdexin shares;From the perspective of financial risk,high leverage ratio,low profit level and low efficiency of capital use are the important influencing factors of debt default.From the perspective of internal control,the large shareholder’s high proportion of equity pledge,a large number of related transactions and related guarantees have an important impact on debt default.The fifth part,according to the reason analysis above,puts forward the prevention suggestions of debt default risk for borrowing enterprises,relevant external institutions and investors.The sixth part is the refining of the key research part of this paper.It is hoped that through the analysis of the debt default case of Kangde New Stock,it can prompt other indebted enterprises to avoid the same problem,and also give some inspiration to the relevant market departments and investors,so as to reduce the debt default event in the financial market and reduce the damage of debt default to all stakeholders.