Question 2: What is financial risk? What factors affect financial risks are too professional? You'd better ask the teacher. Just answer next time. We all use it, and the teacher answers it online. be free of charge
Question 3: Reasons for the formation of financial risks of enterprises Financial risks exist objectively. Enterprises can't eliminate financial risks, so they can only take measures to minimize the harm of financial risks to enterprises. Fully understanding the causes of financial risks is the premise of taking effective measures. Chang Song consulting financial experts analyzed the main reasons for the formation of financial risks from the inside and outside of the enterprise: the external environment of enterprise operation is the external reason for the formation of financial risks, mainly including the influence of macroeconomic environment and policies and industry background. 1. Macroeconomic environment and policy analysis The macroeconomic environment is the most basic factor affecting the company's survival and development, whether in the long term or in the short term. The economic benefits of the company will change with the changes of macroeconomic factors such as macroeconomic operation cycle, macroeconomic policy, interest rate level and price level. The macro-economy is running well, the overall profit level of the enterprise is improved, the financial situation is improved, and the financial risk is reduced; If the macroeconomic operation is not optimistic, the investment and operation of enterprises will be affected, profits will drop, and they may face financial risks. When the national economic policy changes, such as adjusting the interest rate level, implementing the consumer credit policy, collecting interest tax, etc., the capital holding cost of enterprises will also change accordingly, thus bringing uncertainty to the financial situation of enterprises. If the interest rate level is raised, the enterprise may pay too much interest or fail to fulfill its debt service obligations, thus causing financial risks. 2. Industry background analysis Industry background analysis is a bridge connecting macroeconomic analysis and company analysis, and it is also an important link in analyzing the financial situation of enterprises. The position of the industry itself in the national economy and the different development stages of its life cycle make the investment value of the industry different and the investment risk different. The external cause is the condition and the internal cause is the root. Although external reasons will bring financial risks to enterprises, internal reasons are the fundamental reasons for the formation of financial risks. 1. Unreasonable capital structure When the proportion of self-owned funds and borrowed funds in enterprise funds is inappropriate, it will cause unreasonable capital structure of enterprises, which will lead to financial risks. If the loan scale is too large, it will increase the burden of paying interest, affect the solvency of enterprises, and easily lead to financial risks. If the enterprise does not borrow money, or the debt ratio is very small, resulting in insufficient operating funds, it will affect the profitability of the enterprise. 2. Unreasonable investment decisions play a vital role in the future development of enterprises, and correct investment decisions can reduce enterprise risks and increase enterprise profits; Wrong investment decisions may bring disastrous losses to enterprises. Wrong investment decisions often fail to fully realize the risks of investment, and at the same time make mistakes in predicting the ability of enterprises to take risks. 3. The financial management system is not perfect. Enterprise financial management covers all aspects of enterprise basic activities, including fund-raising, investment and general working capital management. The financial management system should further refine the content of financial management, including financial decision-making, formulation of budget and standards, recording of actual data, comparison between standards and reality, evaluation and assessment. If the financial management system can not cover all departments and all operational links of the enterprise, it will easily cause financial loopholes and bring financial risks to the enterprise. 4. Weak risk awareness of financial personnel In practical work, corporate financial personnel lack risk awareness, have insufficient understanding of the objectivity of financial risks, and ignore the prediction and early warning of corporate financial risks, resulting in insufficient emergency response capability and easy to bring financial risks when emergencies occur. 5. unscientific income distribution policy and dividend distribution policy have great influence on the future development of enterprises. The choice of distribution mode will affect the reputation of the enterprise, the judgment of investors on the future development of the enterprise, and then affect the investment decision of investors. If the distribution of enterprise profits is divorced from the actual situation of enterprises and lacks a reasonable control system, it will inevitably affect the financial structure of enterprises, which may lead to financial risks.
Question 4: Relationship between operational risk and financial risk Hello, I am glad to answer your question:
Financial risk refers to the extra risk that * * * capital bears due to the use of debt capital. If the enterprise is in good operating condition, making the return on investment greater than the debt interest rate, it will gain financial leverage benefits; If the enterprise is in poor operating condition, which makes the return on investment less than the interest rate of liabilities, it will gain financial leverage loss and even lead to bankruptcy of the enterprise. This uncertainty is the financial risk that enterprises bear when using liabilities.
The financial risk of an enterprise mainly depends on the level of financial leverage. Generally speaking, the greater the degree of financial leverage, the greater the elasticity of the return on capital to the profit rate before interest and tax. If the profit rate before interest and tax rises, the return on capital will rise even faster. If the profit rate before interest and tax decreases, the profit rate of capital will decrease faster, which will lead to greater risks. On the contrary, the smaller the financial risk. The essence of the existence of financial risk is that the part of operating risk borne by debt is passed on to equity capital because of debt operation.
Business risk refers to the risk of profit change due to business reasons. It refers to the risk that the company's decision-makers and managers make mistakes in business management, which leads to the change of the company's profit level and the decline of investors' expected income. Generally speaking, it refers to the uncertainty brought by production and operation reasons to the profit amount or profit rate of enterprises.
The main factors affecting the business risk of enterprises are: product demand, product sales price, product cost, price adjustment ability and fixed cost ratio.
Business risk and financial risk are two concepts that are both related and different. Most business risks will eventually have financial consequences, and business risks may have a direct impact on various transactions, account balance, presentation confirmation level or financial statement level.
Question 5: What is financial risk? What is operational risk? What is the connection and difference between the two? Financial risk refers to the extra risk that * * * capital bears due to the use of debt capital. If the enterprise is in good operating condition, making the return on investment greater than the debt interest rate, it will gain financial leverage benefits; If the enterprise is in poor operating condition, which makes the return on investment less than the interest rate of liabilities, it will gain financial leverage loss and even lead to bankruptcy of the enterprise. This uncertainty is the financial risk that enterprises bear when using liabilities. The financial risk of an enterprise mainly depends on the level of financial leverage. Generally speaking, the greater the degree of financial leverage, the greater the elasticity of the return on capital to the profit rate before interest and tax. If the profit rate before interest and tax rises, the return on capital will rise even faster. If the profit rate before interest and tax decreases, the profit rate of capital will decrease faster, which will lead to greater risks. On the contrary, the smaller the financial risk. The essence of the existence of financial risk is that the part of operating risk borne by debt is passed on to equity capital because of debt operation. Business risk refers to the risk of profit change due to business reasons. It refers to the risk that the company's decision-makers and managers make mistakes in business management, which leads to the change of the company's profit level and the decline of investors' expected income. Generally speaking, it refers to the uncertainty brought by production and operation reasons to the profit amount or profit rate of enterprises. The main factors affecting the business risk of enterprises are: product demand, product sales price, product cost, price adjustment ability and fixed cost ratio. Business risk and financial risk are two concepts that are both related and different. Most business risks will eventually have financial consequences, and business risks may have a direct impact on various transactions, account balance, presentation confirmation level or financial statement level.
Question 6: The factors affecting financial risk include capital structure, right?
Financial risk refers to the risk that the company may lose its solvency due to unreasonable financial structure and improper financing, which will lead to the decline of investors' expected income.
Question 7: What are the factors that affect the financial management risk of the company? (1) External factors of financial risk.
The external cause of financial risk is the complexity of the external environment of enterprises. The macro-environment of financial management is complex and changeable, and the macro-environment acting on enterprise financial management is complex, which is the external cause of enterprise financial risk. The external influencing factors of enterprise financial management activities include natural factors, market factors and social factors. Although these factors exist outside the enterprise, they also have great influence on the prediction and prevention of financial risks. Due to the variability and complexity of the financial management environment, changes in the external environment may not only bring development opportunities to enterprises, but also make enterprises face certain threats. The threat of external factors will inevitably bring financial risks to enterprises. As we all know, long-term inflation will cause the continuous shortage of enterprise funds, the continuous depreciation of monetary funds, the relative appreciation of physical funds and the continuous increase of capital costs. For example, the rise of global crude oil prices leads to the rise of refined oil prices, the increase of enterprise operating costs and the decrease of profits, and the expected income cannot be realized. The change of interest rate will produce interest rate risks, including the risk of paying too much interest, the risk of investment loss and the risk of not being able to fulfill debt repayment obligations. It can be seen that the risk factors of the external environment will have a great impact on financial risks.
However, external factors are irresistible, and enterprises should consider internal factors if they want to avoid financial risks. Within enterprises, in order to adapt to the development trend of economic globalization, most enterprises change their financial management methods to adapt to changes in the external environment. The financial activities of modern enterprises are becoming more and more complex and diversified, and the financial risks are also becoming more and more diversified. For example, the risks of enterprises in fund raising, capital investment, capital operation and income acquisition are increasing day by day, which requires enterprises to adjust their financial management system in time to prevent management loopholes. If the financial management system can't adapt to the complex and changeable external environment, such as improper fund-raising scale strategy, improper fund source structure, improper fund-raising method and opportunity selection, improper credit trading strategy, improper fund-raising order arrangement, etc. At the same time, low management level, poor quality of products or services, deteriorating business conditions, low work efficiency and low quality of employees will all bring difficulties to enterprises and bring financial risks to their financial management activities. At present, the financial management system established by many enterprises in our country has reduced its adaptability and adaptability to changes in the external environment due to imperfect and unreasonable institutional setup, imperfect financial management rules and regulations, low quality of managers and lack of basic management work, which is embodied in the fact that enterprises cannot grasp their own situation in time, scientifically predict changes in the external environment, lag in response and lack of preventive measures.
(B) the internal factors of financial risk
1. Financial personnel's understanding of risks is lagging behind. The financial activities of enterprises run through the whole process of enterprise activities. With the acceleration of economic globalization, the transnational trade of enterprises is becoming more and more frequent, and the financial activities of China enterprises are becoming more and more complicated, and the financial risks they face are also increasing. At the same time, in financial work, financial managers' risk awareness is still relatively weak, they fail to grasp the essence of risk and have a clear understanding of risk, which makes the understanding of risk lag behind the existence of risk, which is an important factor causing financial risks in Chinese enterprises. With the China market becoming a buyer's market, there is a widespread phenomenon of unsalable products in enterprises. In order to increase sales and expand market share rapidly, some enterprises sell products by selling goods on credit, which greatly increases the accounts receivable of enterprises. At the same time, due to the lack of understanding of customer credit rating in the process of credit sales, enterprises blindly sell on credit, leading to out-of-control accounts receivable; A large number of accounts receivable can not be recovered for a long time until they become bad debts; The assets of enterprises have been occupied by debtors for a long time without compensation, which seriously affects the liquidity and security of enterprise assets and will also bring huge financial risks to enterprises. Only by strengthening the awareness of risk prevention of financial personnel can we understand the risk, grasp the essence of the risk and come up with measures to deal with the risk in time.
2. unscientific financial decisions. Financial decision-making mistakes are another important reason for financial risks. At present, empirical decision-making or subjective decision-making is common in the financial decision-making process of Chinese enterprises, and scientific decision-making and analysis methods are not used, which leads to frequent decision-making mistakes and financial risks. For example, in the decision-making process of fixed assets investment, due to the lack of serious and systematic analysis and research on the feasibility of investment projects, and the incomplete and untrue economic information on which the decision is based, the decision is made >>
Question 8: What are the main factors affecting financial risks? Please understand the answer and thank the system, man-made, market, mechanism, credit, time, investment type, international politics, confidence, etc.
Question 9: Is there a tax rate? Financial risk in a broad sense refers to the significant impact on the existence, profit and development of an enterprise due to various reasons in the process of financial activities such as fund-raising, investment, capital operation and income distribution under specific objective circumstances and within a specific period, mainly including fund-raising risk, investment risk, capital operation risk and income distribution risk.
Question 10: What is financial risk? What are the factors that affect it? Financial risk refers to the risk that the company may lose its solvency due to unreasonable financial structure and improper financing, which will lead to the decline of investors' expected income. Financial risk is a realistic problem that enterprises must face in the process of financial management. Financial risks exist objectively. Enterprise managers can only take effective measures to reduce financial risks, but can not completely eliminate financial risks.
Influencing factors:
The internal reasons mainly include improper fund-raising scale strategy, improper fund source structure, improper fund-raising method and opportunity selection, improper credit trading strategy and improper fund-raising sequence arrangement. External causes mainly include market risk, interest rate, change and price risk. Specific performance in the following aspects:
(A) the macroeconomic environment is complex and changeable
Specifically, enterprises can't scientifically predict the changes in the external environment, reflect the lag, and take ineffective measures, resulting in financial risks.
(B) the internal financial relations of enterprises are chaotic
The internal financial operation of enterprises greatly affects the ability and effect of preventing and controlling financial risks. The confusion of internal financial relations is another important reason for the financial risks of enterprises in China. There is a phenomenon of unclear rights and responsibilities and confusion in fund management and benefit distribution between various departments within the enterprise and between the enterprise and the superior enterprise, which leads to inefficient use of funds and serious capital loss, and cannot guarantee the safety and integrity of funds. For example, the capital structure of enterprises is unreasonable and the proportion of debt funds is too high.
(C) lack of risk awareness of financial personnel
The complexity of business activities and the variability of market environment determine the objectivity of financial risks.
(D) Lack of scientific financial management decisions
Lack of scientific financial decision-making will inevitably increase the risk of financial decision-making, which is another important reason for financial risk.