恋尿财务风险外文翻译
Rearch on Financial Risk of the Enterpri
Shanshan Li
School of economics and management,
Henan Polytechnic University, P.R. china 454000
女强人英语E-mail:/doc/b50f5237ba1aa8114531d913.html
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Abstract—With the intensification of market competition, the financial risk faced by enterpris increas day by day. This paper primarily probes into the definition, types, caus and potential harms of financial risk, and puts forward some detailed countermeasures to avoid it.
Keywords Financial Risk; Risk Identification; Risk Prevention
I.I NTRODUCTION
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With the strengthening of economic globalization and market mechanism, the competition between enterpris is also getting tougher. More enterpris are facing more vere financial risks. Financial risk focus on the management of uncertainties in companies’financial operating effects. The underestimation of financial risks and ineffective management would cau tremendous economical loss, and some is clo to going bankrupt even, clo down. So the rearch in awareness, prevention and control of the financial risks has become an important subject. The study of the financial risk management is not only theoretically but practically significant.
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pillow是什么意思II. THE BASIC THEORY OF FINANCIAL RISK
A.the Definition of Financial Risk
Financial risk, basically speaking, refers to a variety of unpredictable and uncontrollable factors in the financial system existing objectively, which result in the fact that the financial benefits actually deviate from the expected financial benefit, causing the loss of the financial benefits. Financing risk is the existence of an objective economic phenom
enon, a variety of financial risks in a concentrated expression, throughout the various gments of the financial activities. From the economics point of view, as a microeconomic risk, the modem corporate financial risk is the currency manifestation of all risks that companies faced, which is the concentrated on expression of all risks.
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B.the Types of Financial Risk
In the market economy conditions, the financial risk is an objective existence. For business, financial risk is cloly related to the managements about the raising and assigning of fund, especially fund safety. It reflecting risks when enterpris are in financial activity and dealing with financial relationship. There are veral different types of financial risk, including fundraising risk, investment risk and risk of income distribution.
1)Fundraising risk Business cannot do without financing. However, financing will surely bring out risks. Fundraising risk means a variety of unpredictable, which is from changes in supply and demand of funds, the whole macroeconomic and market environment changes, and etc. Fundraising risk basically include interest rate risk, exchange rate risk,
refinancing risk, the financial leverage and purchasing power risk. Interest rate risk means the cost of financing changes brought the fluctuation of price of finance asts; Exchange rate risk refers to the uncertainty in the foreign exchange business due to exchange-rate flexibility. Refinancing risk means the uncertainty for companies refinancing. The financial leverage is the enterpri u debt adjustment rights and interests capital income method. Enterpris can u the financial lever to bring the interests of the financial lever to enterpri shareholder or the enterpri owner rationally. As a result of financial leverage is influenced by many factors, in the interests of financial leverage was also accompanied by incalculable financial risks. Purchasing power risk refers to some effect on finance affected by currency fluctuations.
2)Investment risk
cellular版是什么意思Investment risk refers to risk due to the future of the enterpri income uncertainty, future income and practical; the deviation between the expected return. When developed areas where market development is not mature, and more likely to be a direct result of the incre
ad level of investment risk factor. In China, investment has two forms, that is, direct investment and curities investment. Typically, direct investment involves the purcha of asts such as land, plant. Securities investments include investments in shares and in bonds. For many decades investments in shares and bonds are one of the most commonly ud and popular kinds of investments. Investments in shares is a kind of profit mechanism of mutual benefits and risks. The biggest characteristic of bonds invest is stable income, higher safety factor, but also has strong liquidity. Whether investing in stocks or bonds, in the many uncertainties of the market environment, still have to grasp the sound principles of risk prevention.
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3)Risk of income distribution.
Risk of income distribution, often called transaction exposure, means bad fund movement becau of uncertainty in production, supply and sales, resulting in changes in value. The contents of this risk mainly include: purcha risk, production risk, inventory liquidation risk and accounts receivable realizable risk. Purcha risk means insufficient supply of m
aterial for changes what vendors made in raw materials, and the changes in actual payment period for
different credit conditions and payment. Production risk refers to changes in the production process for new information, changes in energy market prices and personnel changes and etc. Inventory liquidation risk refers to product sales blocked for the product market changes. Accounts receivable are relatively liquid asts, usually converting into cash within a period of 3 to 6 days. Account receivable is an important part of state expenditure of current asts, the strong or infirmness of liquidity has a direct affection on cash flow and working of performance of enterpri. So the corporations must pay attention to the risk on their accounts receivable, and learn to analyze the risk and control it.
