I A机场公司财务风险评价与防范研究 工商管理专业 研究生 石佳 指导教师 杜伟 摘要 伴随着我国民航业的发展壮大及旅游业的快速发展，机场行业 进入高速 发展阶段。在大力开拓市场和基础设施建设的同时，面对高铁、动车快速发展的 竞争压力不断突出，机场企业外部竞争环境日益激烈，尤其是在经济欠发达地区， 支线 机场因地区人员稀少，人口流动较差，机场盈利能力不足，常年处于严重亏 损状态，我国机场企业运营面临的风险不容小觑。基于日趋下行的市场经济环境 和竞争形势的压力， 企业财务风险评价与防范研究成为当前机场企业迫切研究的 重要课题。 本文研究对象A机场公司历经多次体制改革，公司治理结构不完善，经营管 理体系存在严重混乱脱节的迹 象，监督约束机制不健全，管控手段比较落后，缺 乏有效的财务风险管控体系。本文基于构建公司内部控制体系的视角，从“风险 评估”和“控制活动”两个环节入手，通过运 用科学模型构建A机场公司财务风 险评价体系与预警系统。首先，对论文的研究背景和相关概念及理论基础进行了 论述；其次，简要介绍了A机场公司的实际情况，并结合公司财 务报表及同行业 评价指标标准值，从偿债能力、盈利能力、营运能力与发展能力等四个方面对A 机场公司财务风险状况进行识别和研究分析，研究表明A机场公司目前主要存在 偿 债风险、营运资金风险、投资风险和财务制度风险。再次，运用功效系数法计 算评价A机场公司2016-2018年财务风险状况，评价结果表明A机场公司2016年 财务风险处于重大风险 等级，2017-2018年财务风险均处于特别重大风险等级。最 后，根据评价结果及风险识别，通过F分数模型的实际应用，构建A机场公司财 务风险预警系统，并提出相应的风险防范 措施，尽可能减少企业损失。 本文研究的创新之处在于从构建A机场公司内部控制体系的角度出发,从“风 险评估”和“控制活动”两个环节入手，运用功效系数法和F分数模型构 建A机 场公司财务风险评价体系和防范机制，希望能为其他机场企业进行财务风险评价 和预警研究提供参考价值和科学依据。 四川师范大学硕士学位论文 II 关键词：机场企业 财务风险 风险评价 功效系数法 F分数模型 Abstract III Abstract With the development of China's civil aviation industry and the rapid development of tourism, the airport industry has entered a stage of rapid development. While vigorously opening up the market and infrastructure construction, competition pressure from high-speed rail and fast-moving vehicles is constantly increasing, and the external competition environment for airport companies is becoming increasingly fierce. Especially in less-developed regions, regional airports have fewer people and a relatively small population. Poor, the airport's profitability is insufficient, and it is in a state of severe losses throughout the year. The risks facing China's airport enterprise operations cannot be underestimated. Based on the downward market economic environment and the pressure of the competitive situation, the study of corporate financial risk assessment and prevention has become an important subject of current research by airport companies. The research object of this paper is that the airport company A has undergone several system reforms. The corporate governance structure is incomplete, there are signs of serious chaos and disconnection in the management system, the supervision and restraint mechanism is not perfect, the management and control methods are relatively backward, and there is no effective financial risk management and control system. Based on the perspective of constructing the company's internal control system, this article starts from the two aspects of "risk assessment" and "control activities", and uses a scientific model to construct the financial risk evaluation system and early warning system of Airport A Company. Firstly, the research background and related concepts and theoretical basis of the thesis are discussed. Secondly, the actual situation of the airport company A is briefly introduced, and the company's financial statements and the same industry evaluation index standard values are used. Identification and research and analysis of the airport's financial risk status in four aspects, including capacity and development capability, and research shows that the current airport A company mainly has debt repayment risk, working capital risk, investment risk, and financial system risk. Third, the efficiency coefficient method was used to calculate and evaluate the financial risk of A Airport Company in 2016-2018. The evaluation results showed that A Airport 四川师范大学硕士学位论文 IV Company's financial risk in 2016 was at a significant risk level, and the financial risk of 2017-2018 was at a particularly significant risk level. Finally, based on the evaluation results and risk identification, through the practical application of the F-score model, an airport financial risk early-warning system is constructed, and corresponding risk prevention measures are proposed to minimize corporate losses. The innovation of the research in this paper is to build an airport company's financial risk evaluation system from the perspective of building the internal control system of airport A company, starting from the two links of "risk assessment" and "control activities", using the efficiency coefficient method and F-score model And prevention mechanisms, hoping to provide reference value and scientific basis for other airport companies to conduct financial risk assessment and early warning research. Key words: Airport Enterprise; Financial risk; Risk evaluation; Efficiency coefficient method; F-fraction model. Abstract V 目 次 摘要 ............................................................... I Abstract ......................................................... III 1 导论 ............................................................. 1 1.1研究背景 ...................................................... 1 1.2研究目标和意义 ................................................ 1 1.2.1研究目标 ................................................... 1 1.2.2研究意义 ................................................... 2 1.3国内外相关研究综述............................................. 3 1.3.1关于财务风险管理的研究 ..................................... 3 1.3.2关于财务风险评价的研究 ..................................... 4 1.3.3关于财务风险防范的研究 ..................................... 5 1.3.4 研究文献述评 .............................................. 6 1.4研究内容、方法和框 架........................................... 7 1.4.1研究内容 ................................................... 7 1.4.2研究方法 ................................................... 7 1.4.3研究框架 ................................................... 8 1.5研究创新点与不足之 处........................................... 8 1.5.1研究创新点 ................................................. 8 1.5.2不足之处 ................................................... 8 2 相关概念界定及理论基础 ........................................... 10 2.1 内部控制基本概述 ............................................. 10 2.2 财务风险相关概念 ............................................. 10 2.2.1财务风险概述 .............................................. 10 2.2.2财务风险的分类 ............................................ 11 2.2.3财务风险的影响因素 ........................................ 11 2.3 企业财务风险相关理论 ......................................... 10 2.3.1功效系数法 ................................................ 11 2.3.2 F分数模型 ................................................ 11 3 A机场公司财务现状及风险识别 ..................................... 15 3.1 A 机场公司简况 ............................................... 15 3.2 A机场公司财务现状 ............................................ 15 3.2.1经营发展趋势分析 .......................................... 15 四川师范大学硕士学位论文 VI 3.2.2规模趋势 分析 .............................................. 15 3.3 A机场公司主要财务风险识别..................................... 17 3.3.1偿债风险 .................................................. 18 3.3.2营运资金风险 .............................................. 18 3.