Research On Financial Risk Of Listed Companies Under Diversification Strategy

The discussion of enterprise diversification is the research focus of many financial related disciplines in recent years.At the same time,it also has certain research significance in the academic circles.Since the late 1990 s,with the continuous development of China’s listed companies,the implementation of their diversification strategy has gradually attracted the attention of the academic circles.So far,these works focus on the relationship between "academic diversification" and business performance.The financial risk of enterprises is also an important content of accounting research.How to effectively prevent and control financial risk has always been a difficulty.Based on the above situation,starting from the financial risk of the enterprise,taking Tianhao environment as an example,this paper first introduces the case,then expounds the financial and operating conditions of Tianhao environment in detail,makes a quantitative analysis on the degree of diversification of the enterprise,and selects the appropriate financial risk assessment method through the measurement of the degree of diversification of the enterprise,It also analyzes the financial risk control system of Tianhao environment,and then puts forward some suggestions.Finally,the conclusion is that the diversification of Tianhao environment belongs to non relevant diversification.Since the diversification transformation of enterprises,the financial risk has been high,and its risk mainly comes from financing,investment,popularity and working capital.Therefore,the following suggestions are put forward: formulate a comprehensive financing plan,make flexible use of the internal capital market,strengthen the liquidity risk early warning mechanism,and strengthen the internal fund management.The main contributions of this paper are as follows: first,using the method of case study,this paper discusses the impact of diversified development on enterprise financial risk,and provides a specific case for studying the relationship between diversified development and enterprise financial risk.Second,this paper defines the degree of enterprise diversification in a quantitative way,and selects the appropriate risk assessment method through the analysis of the relationship between enterprise diversification and financial risk.Third,through the analysis and evaluation of Tianhao environmental financial risk,this paper puts forward effective risk control measures,so as to provide reference for other diversified enterprises.