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ResearchonFinancialRiskoftheEnterpriseShanshanLiSchoolofeconomicsandmanagement,HenanPolytechnicUniversity,P.R.china454000E-mail:shanshanli@hpu.edu.cnAbstract—Withtheintensificationofmarketcompetition,thefinancialriskfacedbyenterprisesincreasesdaybyday.Thispaperprimarilyprobesintothedefinition,types,causesandpotentialharmsoffinancialrisk,andputsforwardsomedetailedcountermeasurestoavoidit.KeywordsFinancialRisk;RiskIdentification;RiskPreventionI.INTRODUCTIONWiththestrengtheningofeconomicglobalizationandmarketmechanism,thecompetitionbetweenenterprisesisalsogettingtougher.Moreenterprisesarefacingmoreseverefinancialrisks.Financialriskfocusesonthemanagementofuncertaintiesincompanies’financialoperatingeffects.Theunderestimationoffinancialrisksandineffectivemanagementwouldcausetremendouseconomicalloss,andsomeisclosetogoingbankrupteven,closedown.Sotheresearchinawareness,preventionandcontrolofthefinancialriskshasbecomeanimportantsubject.Thestudyofthefinancialriskmanagementisnotonlytheoreticallybutpracticallysignificant.II.THEBASICTHEORYOFFINANCIALRISKA.theDefinitionofFinancialRiskFinancialrisk,basicallyspeaking,referstoavarietyofunpredictableanduncontrollablefactorsinthefinancialsystemexistingobjectively,whichresultinthefactthatthefinancialbenefitsactuallydeviatefromtheexpectedfinancialbenefit,causingthelossesofthefinancialbenefits.Financingriskistheexistenceofanobjectiveeconomicphenomenon,avarietyoffinancialrisksinaconcentratedexpression,throughoutthevarioussegmentsofthefinancialactivities.Fromtheeconomicspointofview,asamicroeconomicrisk,themodemcorporatefinancialriskisthecurrencymanifestationofallrisksthatcompaniesfaced,whichistheconcentratedonexpressionofallrisks.B.theTypesofFinancialRiskInthemarketeconomyconditions,thefinancialriskisanobjectiveexistence.Forbusiness,financialriskiscloselyrelatedtothemanagementsabouttheraisingandassigningoffund,especiallyfundsafety.Itreflectingriskswhenenterprisesareinfinancialactivityanddealingwithfinancialrelationship.Thereareseveraldifferenttypesoffinancialrisk,includingfundraisingrisk,investmentriskandriskofincomedistribution.1)FundraisingriskBusinessescannotdowithoutfinancing.However,financingwillsurelybringoutrisks.Fundraisingriskmeansavarietyofunpredictable,whichisfromchangesinsupplyanddemandoffunds,thewholemacroeconomicandmarketenvironmentchanges,andetc.Fundraisingriskbasicallyincludeinterestraterisk,exchangeraterisk,refinancingrisk,thefinancialleverageandpurchasingpowerrisk.Interestrateriskmeansthecostoffinancingchangesbroughtthefluctuationofpriceoffinanceassets;Exchangerateriskreferstotheuncertaintyintheforeignexchangebusinessduetoexchange-rateflexibility.Refinancingriskmeanstheuncertaintyforcompaniesrefinancing.Thefinancialleverageistheenterpriseusedebtadjustmentrightsandinterestscapitalincomemethod.Enterprisescanusethefinanciallevertobringtheinterestsofthefinanciallevertoenterpriseshareholderortheenterpriseownerrationally.Asaresultoffinancialleverageisinfluencedbymanyfactors,intheinterestsoffinancialleveragewasalsoaccompaniedbyincalculablefinancialrisks.Purchasingpowerriskreferstosomeeffectonfinanceaffectedbycurrencyfluctuations.2)InvestmentriskInvestmentriskreferstoriskduetothefutureoftheenterpriseincomeuncertainty,futureincomeandpractical;thedeviationbetweentheexpectedreturn.Whendevelopedareaswheremarketdevelopmentisnotmature,andmorelikelytobeadirectresultoftheincreasedlevelofinvestmentriskfactor.InChina,investmenthastwoforms,thatis,directinvestmentandsecuritiesinvestment.Typically,directinvestmentinvolvesthepurchaseofassetssuchasland,plant.Securitiesinvestmentsincludeinvestmentsinsharesandinbonds.Formanydecadesinvestmentsinsharesandbondsareoneofthemostcommonlyusedandpopularkindsofinvestments.Investmentsinsharesisakindofprofitmechanismofmutualbenefitsandrisks.Thebiggestcharacteristicofbondsinvestisstableincome,highersafetyfactor,butalsohasstrongliquidity.Whetherinvestinginstocksorbonds,inthemanyuncertaintiesofthemarketenvironment,stillhavetograspthesoundprinciplesofriskprevention.3)Riskofincomedistribution.Riskofincomedistribution,oftencalledtransactionexposure,meansbadfundmovementbecauseofuncertaintyinproduction,supplyandsales,resultinginchangesinvalue.Thecontentsofthisriskmainlyinclude:purchaserisk,productionrisk,inventoryliquidationriskandaccountsreceivablerealizablerisk.Purchaseriskmeansinsufficientsupplyofmaterialforchangeswhatvendorsmadeinrawmaterials,andthechangesinactualpaymentperiodfor2326978-1-4577-0536-6/11/$26.00©2011IEEEdifferentcreditconditionsandpayment.Productionriskreferstochangesintheproductionprocessfornewinformation,changesinenergymarketpricesandpersonnelchangesandetc.Inventoryliquidationriskreferstoproductsalesblockedfortheproductmarketchanges.Accountsreceivablearerelativelyliquidassets,usuallyconvertingintocashwithinaperiodof3to6days.Accountreceivableisanimportantpartofstateexpenditureofcurrentassets,thestrongorinfirmnessofliquidityhasadirectaffectiononcashflowandworkingofperformanceofenterprise.Sothecorporationsmustpayattentiontotheriskontheirac