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论文编号：	8278
作者编号：	2120112870
上传时间：	2016/6/6 16:21:08
中文题目：	本钢板材股份有限公司违约风险管理研究
英文题目：	Research on the default risk management of Bengang Steel Plates Co.,Ltd
指导老师：	余娟
中文关键字：	违约风险；违约风险管理；钢铁企业
英文关键字：	Default risk; Default risk management; Iron and steel enterprises
中文摘要：	2011年以来，大量的钢铁贸易企业出现破产，并有从小到大，从贸易到钢厂蔓延的趋势。由于钢铁行业利润降低，钢铁企业资产负债率不断提升，违约风险增大。企业如何优化违约风险管理，在保持资产保值增值的前提下，降低违约风险，越来越受到管理者的关注。金融企业的企业违约风险管理已经形成了一套比较完整的体系，但是钢铁企业管理者很少从自身角度出发对于违约风险进行系统的分析和管理。通过借用金融企业违约风险管理分析工具和方法，钢铁企业管理者可以更清晰地了解企业违约风险的大小，并对违约风险的因素进行分析，对照企业管理现状，找出不足，从而为企业经营提供改善建议。对于企业来说，企业的违约风险指的是企业不能通过经营获得资金或者通过筹资获得资金，以偿还银行贷款或者债券本息而造成违约，从而影响企业的信誉，使得银行等对企业评级下降，企业难以融得资金，进而使得企业蒙受损失。本文以本钢板材为例进行了分析和研究，对企业的违约风险成因进行分析，将成因划分为内生成因和外生成因两种。违约风险内生成因是企业经营不善持续亏损，筹资渠道和筹资策略不科学造成筹资风险。企业违约风险外生成因主要是指政治、经济、社会和技术等企业外在条件发生突然改变，超过企业承受阈值，从而驱使企业违约而产生风险。对于风险的评价主要通过对该企业财务报表进行分析，采用比率的分析方法分析企业的偿债能力、资产配置合理性、盈利能力、资产协调性以及融资相关指标等以评价企业违约风险相关的各个因素。论文对于内生成因结合企业管理实际进行了逐项分析，对于企业外生成因通过PEST分析法进行分析。在违约风险指标和成因的分析基础上，结合该企业违约风险管理现状，针对高违约风险的问题提出了提升违约风险意识、建立健全企业违约风险识别体系，提升违约风险管理能力，完善违约风险管理措施等一系列建议。本文重点从钢铁企业角度，借用金融企业违约风险分析的工具对本钢板材的违约风险点进行了分解分析，找出了管理中的不足从而为降低违约风险提出了具体的建议。
英文摘要：	Since 2011,bankruptcy began to appear in steel industry,from trading company to the factories, and had the trend to become bigger.Because of the low profit,iron and steel enterprises’ liability ratio is increasing, as well as the default risk. Therefore, managers pay more attention to perfect risk management of default. Most financial corporation has a completed system of default risk management, however, managers from steel industry seldom analyze and manage default risk management. Therefore,according to the management system from financial field, managers from steel industry can understand default risk more clearly, and promote the management by analyzing the factors of default risk. For businesses,default risk means that the company can not gain enough funds through normal operation or financing to repay the bank loan or the loan interest. The result is credibility crisis and downgrade of rating in banks which leads to difficulties of raising more money from bank and suffering a great loss. This paper will analyze the factors of default risk using the example of Bengang Steel Plates Co., Ltd. There are internal and external reasons which lead to default risk. Internal reasons include bad management, as well as unscientific fund-raising pattern. External reasons include policy,economic,society and technology’s sudden change. After analyzing the internal reasons and external reasons according to the business management and the situation of default risk,this paper provide several suggestions which include increasing awareness of default risk, building perfect risk identification system,improving management ability and perfecting default risk management measures. This paper ,from the point of Iron and steel enterprises, describes and analyzes the characteristics of default risk and also proposes some relevant cultivation strategy.
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