企业财务风险识别与预警机制研究——以华东医药股份有限公司为例

论文总字数：30811字

摘 要

我国医药产业具有鲜明的经济属性与经济特性，在参与经济建设的同时也承担满足人民需求的重任，不仅是创新型国家建设的核心工业领域，亦然，将经济整体弄好、调解其大体框架和改变经济进步的形式的巨大助力。最近几年医药行业的成长日新月异，他们在竞赛中提高了自身的能力，亦在这中间面临着不同种类的危机。最为告急的是企业的财务危害。医药产业研发具有“投入高、周期长、高风险”等待性，成为阻碍医药企业进步发展的关键。

跟着医药企业进展体制改革的一路深化，医药企业在经济获取进步的途中的职位越来越重要，已成为带领经济进步的新指标。对于民营医药企业而言，在新药研发、资金融资方面以及科技含量方面都存在一定的困难。从私立企业成长方面上看，最大的需求是资金。正常情况下，企业可以通过银行贷款来解决融资方面的问题。然则，因为有银行制约私立企业的放贷的举动，比方银行要求其供应抵押或有某些保证才能进行贷款；再加上部分企业本身的雷同于财务成本负担等，这些问题的存在将在一定程度上增加制药企业的财务危机。

华东医药株式会社（华东医药）建立于1993年,以出产出售抗生素、中成药、化学合成药、基因工程药品等药物为主,或有中西医药、中草药、医疗器械等,它是就家集医药研发、分开售卖、零售和药物物流于一体的大型综合性医药上市公司。在20多年来的快速成长中，由于经管不善，金融危机不可避免地出现，这将会对华东医药地可持续发展产生一定的影响。

本文以华东医药为案例研究对象，对其2013-2017年报数据梳理后发现华东医药面临的一些财务风险，通过数据以及查阅资料的方式对其财务风险识别与预警机制进行研究，发现华东医药在筹资、资金营运、内部投资上都存在面临财务风险的可能，而在关于预警机制的设计以及运行方面又存在一定的缺陷。针对于这些缺陷，我从华东医药的财务环境、财务风险识别、财务风险应对以及预警机制系统提出优化方案，并从企业的管理层面和业务执行角度提供一定的预防建议，以期有效预防。

关键词：财务风险；财务风险识别；预警机制研究；医药企业

Research on Financial Risk Recognition and Warning Mechanism of Enterprise
-- Take East China Pharmaceutical Co. Ltd.

Abstract

China's pharmaceutical industry has distinct economic attributes and economic characteristics. While participating in economic construction, it also undertakes the important task of meeting people's needs. It is not only the core industrial field of the construction of an innovative country, but also a tremendous help to improve the overall economic structure, mediate its general framework and change the form of economic progress. In recent years, the growth of the pharmaceutical industry is changing rapidly. They have improved their abilities in the competition and are facing different kinds of crises. The most urgent thing is the financial hazards of enterprises. The Ramp;D of pharmaceutical industry has the characteristics of "high investment, long cycle and high risk", which has become the key to hinder the progress and development of pharmaceutical enterprises.

Along with the deepening of the reform of pharmaceutical enterprises'progress system, the position of pharmaceutical enterprises on the way to economic progress is becoming more and more important, and has become a new indicator of leading economic progress. For private pharmaceutical enterprises, there are some difficulties in research and development of new drugs, financing and technology content. In terms of private enterprise growth, the biggest demand is capital. Normally, enterprises can solve financing problems through bank loans. However, because banks restrict private enterprises'lending, for example, banks require them to supply mortgages or some guarantees to make loans, and some enterprises themselves are similar to the financial cost burden, the existence of these problems will increase the financial crisis of pharmaceutical enterprises to a certain extent.

Established in 1993, East China Pharmaceutical Company (East China Pharmaceutical) is a large-scale comprehensive pharmaceutical listed company, which mainly produces and sells antibiotics, Chinese patent medicines, synthetic medicines, genetically engineered medicines, or Chinese and Western medicines, Chinese herbal medicines, medical devices and so on. It is a large-scale integrated pharmaceutical company that integrates pharmaceutical research and development, separate sales, retail and pharmaceutical logistics. In the rapid growth of more than 20 years, due to poor management, financial crisis inevitably appears, which will have a certain impact on the sustainable development of East China Medical Land.

Taking East China Pharmaceutical as a case study, this paper finds out some financial risks faced by East China Pharmaceutical after sorting out its report data from 2013 to 2017, and studies its financial risk identification and early warning mechanism by means of data and access to information. It finds that East China Pharmaceutical faces financial risks in financing, fund operation and internal investment, but in terms of early warning mechanism. There are some defects in design and operation. In view of these shortcomings, I put forward the optimization scheme from the financial environment, financial risk identification, financial risk response and early warning mechanism system of East China Pharmaceutical, and provide some preventive suggestions from the management level and business execution angle of the enterprise in order to effectively prevent.

Key words: financial risk ；identification of early warning mechanism research；pharmaceutical enterprises

目录

摘要 I

Abstract II

第一章 绪 论 1

1.1 引言 1

1.1.1研究背景 1

1.1.2研究目的 1

1.2文献综述 2

1.2.1国外研究现状 2

1.2.2国内研究现状 3

1.2.3文献述评 5

1.3研究思路（全文框架） 5

1.4研究方式 6

1.4.1文献研究法 6

1.4.2案例分析法 7

1.4.3定量分析法 7

1.4.4比较分析法 7

1.5本文的创新点与不足 7

第二章 企业财务风险相关概念 8

2.1 财务风险的概念 8

2.2 财务风险的特征 9

2.3财务风险的类型 10

2.4企业财务风险的识别方法 11

2.4.1定量分析法 11

2.4.2定性分析法 14

第三章 企业财务预警机制相关概念 15

3.1企业财务预警机制概念 15

3.2预警机制的研究 15

3.2.1财务风险预警的组织机构 15

3.3目前企业财务预警机制的建立 16

3.3.1现金流量预警（指标选取及警限设置） 16

3.3.2财务战略预警（指标选取及警限设置） 17

3.3.3成长能力预警（指标选取及警限设置） 18

3.4预警结果的检测及相关解决对策 19

第四章 华东医药股份有限公司（简称“华东医药”）案例 20

4.1 华东医药基本情况 20

4.1.1公司简介 20

4.1.2公司组织结构 20

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