Research On The Financial Risk Early Warning System Of Pan-Entertainment Live Broadcasting Platfor

With the increasingly mature Internet environment and the development of new media,the pan-entertainment live broadcast industry is booming thanks to the promotion of 5G and AI technologies.However,in recent years,due to the shrinking of domestic demographic dividend,fierce competition in the stock,and the significant increase in the activity of foreign users on the mobile end,more enterprises in the industry are actively moving overseas.These factors make the pan-entertainment live streaming platform face challenges and risks in various aspects in the process of development.Therefore,establishing a proven financial risk early warning system can help enterprises reduce the occurrence of financial crises in the market competition.Focusing on the theme of financial risk warning,this paper divides the index selection of financial risk warning system of pan-entertainment live streaming platform into financial and non-financial aspects.For the construction of financial indicator system,this paper comprehensively and systematically selects indicators from the four capabilities of profitability,debt repayment,operation and development.As for the construction of non-financial index system,considering the characteristics of pan-entertainment live streaming industry,nine aspects,such as tax payment index,MAU and annual user reward income,are taken into consideration to form an early warning index system of pan-entertainment live streaming platform.Then,the weight of financial indicators is calculated by the entropy method,the indicators are screened again by using the correlation analysis of SPSS,the performance of the screened indicators is weighted,and an improved efficacy coefficient method is used to build a financial risk early warning model for pan-entertainment live streaming platform.Then,the financial data of the JOYY is cited for calculation and the early warning model was verified,and it is found that its financial risk status is in the light warning level from 2017 to 2020,and in the medium warning level in2021,which is in line with the current situation of JOYY’s financial risk warning level.From the research results,the management should pay close attention to the risk of operational capability,and the risk of solvency and profitability should not be ignored in the financial risk warning of JOYY.Finally,aiming at the pan-entertainment live streaming platform,this paper puts forward to strengthen its financial risk early warning.Based on the research of entropy method and improved efficiency coefficient method,this paper,on the one hand,establishes a financial risk early-warning system for pan-entertainment live streaming platform,which helps enterprises in pan-entertainment live streaming industry to examine their own financial risk status and issue early warning in time,providing effective reference value for their analysis;On the other hand,it is helpful for JOYY to effectively identify the sources of risks according to the early warning results,so as to improve JOYY’s ability to continue as a going concern and achieve stable development.