Research On Risk Control Of ZT Company's External Guarantee

Nowadays,the narrow financing channels,financing amount is difficult to meet the demand of enterprise funds and other issues have become the major issues,one of the most widely used of the listed company.However,as guaranteed financing is widely used,its disadvantages and loopholes gradually appear,which seriously endanger the stability of enterprises and the financial market.China Securities Regulatory Commission successively issued warning decisions on foreign guarantee behaviors of dozens of enterprises,indicating that there are significant risks in foreign guarantee behaviors,and the disadvantages of foreign guarantee are gradually exposed to the public.Guaranteed enterprise mostly listed companies affiliated enterprise,most of these enterprises because of its own can't satisfy the requirement of the Banks and other financial institutions loan,or from financial institutions to finance capital cannot meet the needs of their own development,then tried to use the correlation relationship with the listed company seeking guarantees,however these are there are unable to guarantee enterprise performance due to repay the capital risk,as the secured party jointly and severally liable for the guarantee behavior of listed companies,this constitutes the contingent liabilities of the enterprise,if the enterprise fails to perform the performance guarantee obligations,or liabilities have been become the real debt of listed companies,It seriously affects the normal operation and financial status of the enterprise,and these risks are finally transferred to the small and medium shareholders and creditors of the enterprise.Enterprise less because of its stake,small and medium shareholders holding shares relatively scattered,for appointment and removal of enterprise's management and decision making cannot guarantee behavior have a significant impact,enterprise's operating and guarantee information originate from the regular disclosure of listed companies,this determines the weak position of medium and small shareholders in the enterprise making important decisions.When the illegal guarantee and over-guarantee behaviors of enterprises are exposed,the company's stock price is shaken violently,and the minority shareholders at the end of the information acquisition channel have lost the opportunity to sell their stocks and avoid risks,and passively take the risks brought by the external guarantee behaviors of enterprises,and their own interests are damaged.For the financial institutions as the creditors,the listed company in order to successfully financing for the use of the subsidiary,will and secured party jointly imaginary profits,whitewash statements,when the guarantee enterprise fails to repay the debt,as a guarantor of the listed company insolvent may exist,in this case,increase the risk of financial institutions due to recover funds,serious damage to the liquidity of financial institutions in the capital,made it to the operation of foreign seek funds to support themselves.This paper focuses on the chaos of external guarantee behaviors in the financial market and conducts research against this background.From the perspective of risk control,it selects typical ZT companies in the energy industry to conduct research and analyzes the impact of their guarantee behaviors on the enterprises themselves.The author first elaborates the research background,research significance,shows that this paper studies the necessity and feasibility of the research achievements of previous scholars,through a large number of reading summary refining and use associated with this article research foundation,and then introduce the current status of guarantee of ZT company and internal control process,comparing with the same industry enterprise analysis,find out the point of significant risk guaranty behavior.In the end,the paper makes a study from the perspective of risk control,analyzes the internal and external causes of major problems in the risk control of ZT's guarantee business,and puts forward suggestions and solutions according to relevant problems.