Research On Financial Risk Early Warning Of Film And Television Enterprises Based On Entropy Weight And Efficacy Coefficient Method

The reason why this paper chooses the film and television industry as the research direction is that this industry has experienced a capital boom and received huge dividends in the capital boom.Secondly,the probability of success of products in the large market is uncertain due to the impact of market changes in this industry.At the same time,this paper is a case study paper and chooses the Great Wall film and television industry with great characteristics as the research object.China’s rapid development in the early 20th century has spawned a large number of new industries,and the advantages and disadvantages of enterprises in these new industries have gradually taken shape in the nearly 20 years of development so far.Due to the rapid development of China,the world’s second largest economy,the whole market has seen the phenomenon of capital fever in the past few years,which makes investors seem to be covered with a layer of light veil in front of their eyes,they can not see the overall operating conditions and future development prospects of the invested enterprises.By "hot money" dizzy investors like cut leek wave after wave of forward surge and "thunder" of the enterprise has been growing year after year,investors can not even immediately pull out of the cause of losses.Therefore,in recent years,the topic of corporate financial risk in the mass media has been increasing year by year.However,before the company "thunderbolt" basically no news or announcement to explain the risk in the process of business operation,investors are difficult to predict the risk,so it is very necessary to carry out annual financial risk warning for enterprises.This paper establishes a financial risk early warning system for the film and television industry,and uses the model to take the Great Wall film and television as an example for its financial risk early warning.First of all,related concepts of financial risk and financial early warning are described,and two methods,efficiency coefficient method and entropy weight method,are introduced throughout the whole paper.Secondly,the status quo of financial risks in the film and television industry is sorted out and the risks in the film and television industry include investment risk,financing risk,return of capital risk and cash flow risk.Again is to use 26 film and television industry listed company profit,operating,solvency,growth ability of financial indicators data to construct financial risk early warning index system of film and television industry,and uses the correlation analysis to filter the selected financial indicators,to highlight the rationality of the financial indicators after the screening,can reflect the characteristics of film and television industry and increase the non-financial indicators.In order to ensure the objectivity of the comprehensive evaluation of the final warning results,entropy weight method is adopted to give weight to the financial and non-financial indicators after screening.Since non-financial indicators are added to the index system,the orderly clustering method is adopted to calculate the standard values of the early warning indicators of 26 listed companies from 2014 to 2019.Finally,the financial risk early warning system of film and television industry established based on the efficiency coefficient method was applied to Great Wall film and television to make a comprehensive early warning score for the financial risk of the enterprise.The comprehensive evaluation results of the financial risk early warning of Great Wall Film and Television from 2014 to 2019 are as follows: heavy alarm,huge alarm,huge alarm,heavy alarm,heavy alarm,huge alarm.To the Great Wall,film and television early warning result of comprehensive evaluation,the profit ability,operation ability,debt paying ability,growth ability analysis found that the four dimensions,cause the company’s warning so worrying results include: early over-expansion,a decline in investment benefit,the industry competition for resources intensifies,review the high risk and low degree of marketization.Then combined with the characteristics of the film and television industry for the above reasons for Great Wall film and television to develop the corresponding solutions:reduce the debt ratio and reduce non-performing assets,enhance the production of boutique film and television and take into account the cost control,customer differentiated credit policy and maintain a "three-dimensional" balance and reasonable control of financial risks.The specific solutions to the financial risks of Great Wall film and television industry are also given the corresponding inspiration: improve the overall financial risk prevention awareness of the industry and improve the financial risk early warning system.