Chinese Publishing Group's Financial Risk Research

China's publishing industry is in an important period of the group.As a special organization, the Publishing Group, as a result of its own double attribute, is faced with a series of uncertain factors in the course of production and management, which will bring great risks to the Group,especially Financial risks, will have a significant impact, it should carry out research, especially the financial risks faced.Through the presentation of the publishing group and its financial risk, the paper analyzes the causes and forms of the financial risks of the publishing group, puts forward the quantitative analysis method of the financial risk identification and evaluation of the publishing group,and illustrates the financial risks through the case analysis, and in-depth thinking and analysis of the results. On this basis, combined with the relevant theory, have some solutions of China's publishing group‘s financial risks.The first part(Chapter 1-2) mainly focuses on the financial risks faced by publishing groups in China, and analyzes the characteristics of the group and the particularity of the publishing group through literature analysis and theoretical analysis.In the second part(chapter 3-4), based on the conclusion of the first part, draws the cause of financial risk of publishing group in our country is mainly due to the change and uncertainty of external economy, market,policy and technology environment, as well as internal financial risk management, organizational structure, capital structure, diversified operation, specific performance as investment risk, operational risk.Then it identifies and evaluates various financial risks. In the identification of risks, the Group mainly focuses on five areas in the main business: whether the Group's internal control is flawed, whetherthere are large amount of guarantee and related transactions, whether the capital structure is good, whether there is risk in the capital chain; in the risk assessment use the Z value to measure the overall risk of the publishing group and use the various financial indicators to measure the specific financial risk of the publishing group.The third part(Chapter 5-6) is a case study of Northern Publishing Group. Based on the introduction of the company, five financial risk points which need special attention are identified and quantitatively analyzed the whole financial risk, also the specific financial risk are be measured. Use the financial early-warning system to identify where the financial risk and the size of the risk, and to explain the causes of the Northern Publishing Media Group's financial risks. Finally, on the basis of the results of the case study, puts forward some strategies and measures to prevent and control the financial risk of the publishing group in our country, that is, strengthening the risk awareness, internal control construction, improving the operation and investment ability,reducing the risk of capital chain.