The Financial Risk Of JD Group Under Heavy Asset Operation Mode And Its Countermeasures

Financial risk is a long-term problem in the process of enterprise financial management,which exists objectively and can be alleviated by specific means,but it can not be completely eliminated.The heavy asset operation mode is a kind of operation mode which is solidified by the form of enterprise assets,and making enterprises can not use more external capital to obtain greater economic benefits by controlling the controllable resources.For a long time,with the research on financial risk continuing,the western theory of financial risk tends to be mature,mainly about theoretical research and empirical research on enterprise financial risk.The results of these studies are used in a large number of financial risk management practice in Western enterprises.Although China's financial risk research is no more new subject,theoretical research and practice of financial risk in China is still developing,especially with heavy asset operation mode.In addition,with the virtualization of economic forms,many enterprises operation mode is gradually changing,of which most of the business modes of business enterprises began to shift from the heavy asset operation mode to the light asset operation mode.However,based on a variety of reasons,there are still some enterprises in the e-commerce industry do exactly the opposite.Among the heavy asset operation mode e-commerce enterprises,JD is one of the typical.This paper selects JD as the object,combined with its characteristics as a business enterprise with heavy asset operation mode,through theoretical analysis and case analysis based in heavy asset operation mode of financial risk evaluation,assessing the financial risk of JD under heavy asset operation mode,and put forward relevant countermeasures.Besides,through the analysis of the financial risk of JD under heavy asset operation mode,combined with industry background,assessing whether heavy asset operation mode of the enterprise developing healthfully,and how to achieve the most effective application of heavy asset operation mode in e-commerce industry.In this paper,it's combined with the actual situation of JD and theory of financial risk management,the financial risk of JD under heavy asset operation mode analysis using literature research method,qualitative analysis,financial ratio analysis and summarizing.First of all,this paper divides the research categories of financial risk,combining the case,using qualitative analysis to identify the financial risk factors involved in this article,determining the financial risk types of this paper.Secondly,using financial ratio analysis method and model study method,the financial risk of JD under heavy asset operation mode is analyzed from the overall level and decomposition level.Finally,combining the domestic and external factors such as the national policy,the industry environment and the enterprise development strategy,this paper summarizes the characteristics and causes of the financial risk of JD under heavy asset operation mode,and puts forward some countermeasures.The structure of this paper consists of five parts.The first chapter is the introduction,which summarizes the writing background,significance,train of thought and application of research methods,and summarizes the existing research results domestic and abroad.The second chapter is the theoretical basis of this paper,first of all,describe the characteristics of heavy asset operation mode and the reasons to choose heavy asset operation mode briefly,then the general performance of heavy asset operation mode of financial risk are summarized,finally the reasons for the formation of the financial risk under heavy asset operation mode and related theories.The third chapter mainly introduces the selected cases.Explain the basic situation and the development of the JD,then combined with the actual situation of the specific interpretation of the heavy asset operation mode of JD,finally summarizes the basic characteristics of heavy assets operation mode of JD.The fourth chapter is the concrete analysis of the financial risk of JD under heavy asset operation mode.The first specific phenotype of the financial risk of JD under heavy asset operation mode make qualitative description,and combining with the analysis of financial statements,financial index analysis method to the financial risk of JD under heavy asset operation mode quantitative analysis,then based on the analysis results to further explore the causes of the financial risk of JD under heavy asset operation mode.The fifth chapter is based on the analysis of the financial risk of JD under heavy asset operation mode specific measures proposed,but also the last chapter of this article.This chapter focuses on the financing risk,investment risk,capital recovery and cash flow risk of JD,and puts forward corresponding countermeasures according to the actual situation.