| The financial chain is the guarantee for the survival and sustainable development of enterprises.In 2018,the forestry capital chain was faced with a fault crisis,debt collection turmoil,and the freezing of bank accounts.As a result,Sheng Da Forestry had to restructure its assets.that may lead to the collapse of the capital chain.This paper uses literature research method,case analysis method and comparative analysis method to analyze the background and process of the failure of forestry capital chain.Financial causes and preventive measures have been studied and analyzed.Firstly,starting from the three stages of capital input,operation and recovery,this paper analyzes the raising,investment and return of forestry capital.It is concluded that the phased feature of the operation of forestry funds is the transformation of business activities from 2013 to 2016.The development strategy has produced a qualitative change and requires a lot of funding support.Such a rapid business transformation and asset divestiture have brought about a crisis in 2017.Then,using the risk recognition model of the fund chain fracture,the safety level of the forest fund chain is measured from the static and dynamic angles.The conclusion is that there is no substantial fund chain break in Sheng Da Forestry.Finally,the paper broken forestry capital chain from four aspects: profitability,solvency,operational ability and development ability.Based on the above analysis,this paper considers that the financial causes leading to the failure of the forestry capital chain mainly include poor operating performance and slow return of funds;Violation of guarantees,funds are occupied;Inappropriate investment decision of the project,did not reach the expected goal;Internal controls were inadequate.In view of these financial causes,this paper puts forward four suggestions to prevent the risk of the failure of forestry Enhancing risk identification and assessment;Implement supervision and management. |
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