| Before 2013,the market for Internet consumer finance was a blue ocean market.With the improvement of China’s consumption level,the number of consumer channels has continued to increase.In 2013,many e-commerce companies began to get involved in the Internet consumer finance industry.Fun staging,Jingdong Baitiao and other platforms quickly occupied market share,and various industries began to stimulate consumption through consumer finance platforms.As the market continues to expand and the number of consumer groups facing it continues to increase,there are many non-compliant debt collection methods in the industry.The state began to rectify the industry in 2017 and introduced relevant regulatory policies.Due to the contraction of policies,the financing channels of enterprises have begun to narrow,coupled with the rapid expansion of enterprises and the rapid increase in costs,some enterprises have encountered the problem of capital flow.For Internet consumer finance companies,funds are the most important resource for corporate development,and the three links of the capital chain circulation are indispensable.However,due to the short development time of the enterprise,the insufficient internal control system,and the lack of a sound risk control system,the risk of corporate capital chain risks cannot be effectively prevented and controlled.Therefore,the management and control of capital chain risks have become the focus that enterprises must pay attention to.Therefore,this article mainly studies the risk of the capital chain of Qudian,and through the risk identification and risk assessment of case companies,it puts forward effective suggestions.Established in 2014,Qudian is the earliest group of enterprises to enter the Internet consumer finance industry.It has been researching along the industry.Therefore,this article takes Qudian as the research object,introduces the basic situation of Qudian,and after identifying its capital chain risks,it selects 13 risk assessment indicators based on industry characteristics to build a reasonable and complete capital chain risk assessment system.,The evaluation index was substituted into the efficiency coefficient method to score the risk chain of the Qudian Group in the past three years.Based on the scoring results,recommendations were made for the control measures of the Qudian Group ’s capital chain risk.Sustainable development puts forward practical suggestions.The theory involved in the evaluation method of this case mainly includes the theory of capital circulation,the theory of capital operation,and the theory of risk management.The research results show that the risk chain risk rating of Qudian Group is mild,and some financial indicators may be abnormal.The main risk points of the capital chain are mainly the risk of capital operation and the risk of capital withdrawal.Low,and the overdue rate is also high,and a large number of assets are accumulated on accounts receivable.According to the research results,this article puts forward some suggestions to establish its own credit evaluation system,reduce its overdue rate and bad debt rate,optimize the company’s asset-liability structure,and rationally plan a diversification strategy.This article has innovations in evaluation models and research perspectives.The indicators selected by the efficacy coefficient method can be quantified or non-quantitative.It can be applied to different enterprises based on industry characteristics,and selected evaluation indicators based on different perspectives.Take the total score,and then evaluate the risk according to the rating scale.Therefore,the efficacy coefficient method can also be applied to assess the capital chain risk of the Internet consumer finance industry.By studying the risk of capital chain,enterprises can strengthen their awareness of capital chain risk prevention,help reduce the risk of corporate capital chain,and promote the healthy development of the Internet consumer finance industry. |
