Research On Feature Identification Of Bond Defaulting Companies Based On User Portrai

At this stage,the scale of the bond market is constantly expanding,and the bond market is playing an increasingly critical role in corporate investment and financing activities,and its importance in improving corporate financing structures and meeting corporate financing needs has become increasingly prominent.With the upward development of China’s bond market,the risk of bond default has been increasing,and the problem of bond default has become an important problem in the bond market that needs to be solved urgently.The increasing frequency of bond default incidents and the continuous increase in the number of bond defaults have caused investors to lose confidence in the bond market,which in turn affects other companies that have not defaulted on bonds,causing them to fall into financing difficulties.This undoubtedly has a serious impact on the bond market.Therefore,exploring the default characteristics of bond defaulting enterprises will help enterprises identify the existence of default risks in advance,take effective measures to prevent bond defaults,reduce losses caused by default,ensure the orderly operation and development of enterprises,and maintain the stability of bond market order.Based on user portraits,this thesis describes the portraits of bond default enterprises from different dimensions,identifies the default characteristics of bond default enterprises,and verifies them with the data before the bond default of Yongmei Holdings,and analyzes the characteristics of bond default portraits of Yongmei Holdings.First of all,by sorting out the relevant literature research on the influencing factors and risk measurement of corporate bond defaults,it proposes a six-dimensions enterprise portrait label system of bond defaults,including industry attribute dimensions,basic attribute dimensions,strategic goal dimensions,governance control dimensions,financial status dimensions,and corporate compliance dimensions.Secondly,select the enterprises that defaulted on bonds for the first time in the five years from 2016 to 2020 as the research object,analyze the overall portrait characteristics of bond default enterprises,and portray the corporate portraits of bond default enterprises.Thirdly,portray the corporate portrait of Yongmei Holdings bond default,select the data information before its substantial default,and analyze the corporate profile from five dimensions,including the coal industry dimension,strategic goal dimension,governance control dimension,financial status dimension,and corporate compliance dimension.Analyze the characteristics of the company’s bond defaults,and describe the corporate portraits of its bond defaults.According to the portrait characteristics of debt default enterprises,it is found that Yongmei Holdings has the characteristics of bond default,so as to verify the accuracy of the overall portrait of bond default enterprises.Finally,on the basis of the research conclusions of this thesis,suggestions are put forward to prevent corporate bond defaults,requiring bond-issuing companies to formulate appropriate development goals and strategies,improve internal control and governance systems,enhance corporate operations and profitability,establish the corporate compliance institution and system.The intermediary agencies are required to standardize the quality of credit ratings and improve the credit rating system.The portraits of bond default enterprises described in this thesis have expanded the application of user portraits in the field of bond defaults,improved the identification performance of bond default subjects,and to a certain extent can help identify the existence of default risks in a timely manner,which has realistic reference value for avoiding default risks in the bond market.