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论文编号：	13912
作者编号：	2320200686
上传时间：	2023/6/6 10:22:47
中文题目：	Z城投公司财务风险管理研究
英文题目：	Research on Financial risk Management of Z City Investment Company
指导老师：	姚颐
中文关键字：	财务风险；城投企业；风险管理
英文关键字：	city investment companies；financial risk；risk management
中文摘要：	城投企业作为地方政府投融资平台，承担着地方基础设施建设的重任，在地方经济发展过程中扮演着重要的角色。同时，在经济下行时，城投企业作为逆周期调节经济的载体。2008年，美国爆发次贷危机，为应对金融危机冲击，国家出台了大规模的刺激政策，城投企业迎来了繁荣发展期。城投企业承担的项目建设任务重，积累的财务风险也越来越大，其后果不容小觑。 本文选择Z城投公司作为研究对象，首先介绍了Z城投公司基本情况、财务环境，然后通过剖析Z城投公司面临的财务风险以及Z城投公司财务风险管理现状，找到了Z城投公司财务风险管理存在的问题主要表现为无法有效识别和评估财务风险、针对特定财务风险采取的控制活动不充分、财务风险管理的内部治理结构不健全以及财务风险管理的制度保障措施不到位等。Z城投公司财务风险管理存在问题的原因主要为公司过于强调扩张而忽视了财务风险管理、公司承担的融资任务重且债务责任不明确、公司融资环境恶化以及投资决策能力和项目管理水平不足等。 针对Z城投公司财务风险管理存在的问题，本文给出了应对措施。首先，公司应该通过提高财务风险识别能力、完善财务风险评估方法和建立财务风险预警体系来增强公司财务风险识别和评估能力；其次，公司应通过完善项目融资模式、整合优质资源进行股权融资、加快市场化转型以及提升项目和资金管理水平来解决特定的财务风险；最后，公司应该从健全内部治理结构、强化财务风险管理意识以及完善并落实财务风险管理制度等角度来完善公司的财务风险管理体系。希望本文对Z城投公司以及其他城投企业在财务风险管理的过程中能有所帮助。
英文摘要：	As the investment and financing platform of local government, city investment companies undertake the heavy responsibility of local infrastructure construction and play an important role in the process of local economic development. At the same time, in the economic downturn, city investment companies act as the carrier of countercyclical regulation of the economy. In 2008, the subprime mortgage crisis broke out in the United States. In order to cope with the impact of the financial crisis, the country introduced large-scale stimulus policies, and city investment companies ushered in a period of prosperity and development. City investment companies undertake heavy project construction tasks and accumulate more and more financial risks, whose consequences can not be underestimated. This paper chooses Z City Investment Company as the research object, firstly introduces the basic situation and financial environment of Z City Investment Company, and then analyzes the financial risks faced by Z City Investment Company and the current situation of financial risk management of Z City Investment Company. It is found that the problems existing in the financial risk management of Z-City Investment Company are mainly manifested as the inability to effectively identify and evaluate financial risks, insufficient control activities for specific financial risks, the internal governance structure of financial risk management is not sound and the institutional safeguard measures of financial risk management are not in place. The problems in Z City Investment Company's financial risk management are mainly caused by the company's overemphasis on expansion and neglect of financial risk management, the company's heavy financing task and unclear debt responsibility, the deterioration of the company's financing environment, and the insufficient investment decision-making ability and project management level. In view of Z City Investment Company's financial risk management problems, this paper gives the countermeasures. Firstly, the company should enhance its financial risk identification and evaluation ability by improving the financial risk identification ability, improving the financial risk assessment method and establishing the financial risk early warning system. Secondly, the company should solve specific financial risks by improving the project financing mode, integrating high-quality resources for equity financing, accelerating market-oriented transformation and improving the project and fund management level. Finally, the company should improve the company's financial risk management system from the perspective of perfecting the internal governance structure, strengthening the awareness of financial risk management and perfecting and implementing the financial risk management system. I hope this paper can be helpful to Z City Investment Company and other city investment enterprises in the process of financial risk management.
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