Research On Financial Risk Of Pharmaceutical Listed Companies From The Perspective Of Stakeholders

The nineteen major reports of the party clearly put forward the strategy of implementing healthy China.The pharmaceutical industry has a good opportunity for development.With the deepening of drug supply side structural reform and the upgrading of drug consumption,the pharmaceutical industry is facing a comprehensive reshuffle.The pharmaceutical industry is a typical high investment,high yield and high risk industry.Listed companies must fully understand the characteristics of the industry,adjust the strategy,control company's financial risk level,remove obstacles to promote the steady development of the company.The focus of this paper is to study the financial risks of pharmaceutical listed companies.In the process of combing the literature,we can find that there are a number of literature studying the financial risk from the perspectives of a company's internal control,corporate management,lever theory,etc.Only a few articles are analyzed from the perspective of stakeholders.Actually,The company's financial risk is closely related to this balance which is for managers to balance the interests of stakeholders.Based on this,we describe and evaluate the financial risks of Chinese pharmaceutical listed companies from the stakeholder perspective.The purpose of this paper is to explore the influencing factors of financial risk from the perspective of stakeholders.Finally,it puts forward suggestions for preventing financial risks of pharmaceutical listed companies.Firstly,this paper combs the literature and related theories at home and abroad,select appropriate financial risk evaluation indicators from the perspective of stakeholders,construct financial risk assessment system for Chinese pharmaceutical listed companies.Secondly,Taking 133 medical companies listed in Shenzhen and Shanghai as samples,using SPSS statistics software,Taking factor analysis and cluster analysisto study,evaluating the financial risk of the Sample Firms.The results show that factors such as operation capability,profitability,creditors and employees play a more important role in the financial risk of pharmaceutical industry.Finally,based on the empirical results,Putting forward suggestions to prevent financial risks from the perspective of stakeholders.From an internal stakeholder perspective,The enterprise should optimize the ownership structure reasonably,Control operating cost,improve the treatment of employees to prevent the phenomenon of large shareholders' hollowing out,improve the profitability of enterprises,cultivate employees' enthusiasm for work.From an external stakeholder perspective,The enterprise should improve their operating mechanism,optimize debt structure,maintain a good customer relationship to improve the enterprise's operational capacity,improve the enterprise's solvency,establish enterprise information sharing system with upstream and downstream enterprises.We should take measures to reduce financial risks so as to ensure the stable development of the pharmaceutical industry.