Research On The Problems And Countermeasures Of Financial Risk Management Of SHOUGANG

Financial risk refers to a variety of unpredictable and uncontrollable factors in the company's financial activities,which make the company's actual earnings deviate from expectations,resulting in a company's economic losses and even bankruptcy.As the environment of enterprise management is more and more complex,financial risk management plays a more and more important role in the management of enterprises.The iron and steel industry is the basic industry of China's economic development,which plays an important role in the economic development of our country.After the outbreak of the financial crisis in 2008,China's economic development has been slow,and the steel industry has also been greatly impacted.The entire industry was in a state of general loss.Under the background of overcapacity and sluggish development in the steel industry,most steel companies face huge financial risks.At the same time,our country has also put forward the requirements of "de-capacity and de-leverage" to iron and steel enterprises.Therefore,if iron and steel enterpruses want to survive and develop healthfully in unstable market,they must strengthen their own financial risk management,deal with existing risks,and prevent unknown risks.Taking Shougang Corporation as an example,this article analyzes current situation of its financial risk and the current situation of its financial risk management under the background of the industry,and finds that there are many problems and deficiencies in financial risk management:methods to the identification and assessment of financial risks are Unscientific;financial risk warning system is not perfect;control of some financial risks are not enough;and the division of responsibilities of financial risk management is unreasonable.This article further analyzes the causes of Shougang's financial risk management issues,mainly including:weak awareness of financial risk management;imperfect financial risk management system;the lack of independent financial risk management department;the lack of effective financial risk management measures;and the lack of supervision over financial risk management.On this basis,this article combines the theoretical knowledge related to financial risk management and the actual problems of Shougang,and puts forward some reasonable suggestions for improving its financial risk management.At the same time,the results of this paper can also provide references for each steel enterprise to improve thire financial risk management and control financial risks under the background of industry transformation.