摘要
以劳动力与资本密集为特点的纺织行业,在中国经济刘易斯拐点及银行紧缩政策,以及劳动力、原材料、资金成本不断上升情况下,正面临着前所未有的财务风险。本文根据雅戈尔集团2005—2010年年报数据,深入分析雅戈尔集团的筹资风险、投资风险、汇率风险与收益分配风险等主要财务风险,得出纺织企业财务风险管理的启示,包括:财务风险管理贯穿于公司经营、投资、筹资全过程,综合考虑宏观经济状况,综合运用多种手段实现避险目的,利用自身的内部管理提高应对本币升值风险能力,保持一定的现金储备以确保企业资金链条的完整性和资金充足性。
The labor and capital-intensive textile industry is facing unprecedented financial risks with the appearance of Lewis turning point of China＇s economy and a tight monetary policy,as well as increasing costs of labor,raw materials and financing.Based on the data from the annual reports of Youngor Group from 2005 to 2010,this paper makes in-depth analyses on its major financing risks,including risk in financing,investment risk,exchange rate risk and income distribution risk,and then it draws experiences on financial risk management for the textile industry： the financial risk management should be implemented throughout the whole process of operation,investment and financing;the macro-economic conditions should be taken into consideration;various measures should be taken to avoid risks;the internal management should be improved to address the risk of appreciation of Chinese currency,and it is necessary to maintain certain amount of cash reserves so as to ensure a sound and complete capital chain and capital adequacy for an enterprise.
出处
《广西财经学院学报》
2012年第1期80-85,共6页
Journal of Guangxi University of Finance and Economics
关键词
纺织企业
财务风险
雅戈尔集团
textile industry
financial risk
Youngor Group
