Travel Listed Companies Risk Analysis And Evaluation System Research

With the vigorous development of China’s market economy, the domestic tourism market is growing rapidly. As tourism has a strong sustainability, strong linkage capabilities, provide jobs and more other advantages, it has become a strategic industry in China’s economic development, more and more investors began to turn their attention to tourism enterprises. However, China’s tourism industry is not yet mature,90%of companies are still in small scale, and the emergence of business failure and vicious competition often appear in the industry situation. Lack of adequate risk control system and risk measurement systems impede capital into the market, and it is clearly inconsistent with the trend of rapid development of tourism in this case. Therefore, there is a practical significance and value to find how identify and measure risk situation better, and how risk management to reduce losses that could lead to high-risk enterprise better.Scenic listed companies have a business involves a wide range of highly integrated features, and can be the representative of tourism business, so this paper take scenic listed companies as case, to study its risk profile, trying to provide a risk assessment tour of listed companies conditions. In order to identify the risk profile of scenic listed companies accurately, the author starting with risk cause study, divided risk cause into internal and external causes, then analysis how these factor influence company’s operating.For the establishment of a risk assessment model, according to the different forms of risk, the author decided use financial risks and operational risks as the basic elements of scenic listed companies risk evaluation system. For the assessment of financial risk, at the basic of2010-2012financial statement of scenic listed companies, use factor analysis to evaluate the financial performance of these companies, and then assess their risks situation. For the evaluation of operational risk, the author comprehensive reference to the research results of domestic scholars about scenic listed companies, and finally choose strategic risk, competitiveness, corporate governance, regional competitiveness and the external environment as the key elements of operational risk evaluation.This paper studies suggest that the causes of scenic listed companies risks are mainly from the macro, meso and micro environmental, risk assessment of the scenic listed companies should focus on the meso and micro environment that affect the company’s operational and its financial performance. To control the risks, the scenic listed company improved operational efficiency and financial performance, through the improvement of corporate governance, the establishment of the financial early warning mechanism and the tripartite financial supervision or other means, to achieve the purpose of risk response and control.