Study On The Construction And Influencing Factors Of Risk Management Evaluation System Of Listed Companies Of Mining Industry In China

Mining is a basic industry of national economy,as mining directly from the nature of various raw materials,fuel,such as coal,oil,natural gas,etc.)of the industrial sector,as one of the most important source of human life industry,faced with the increase of energy demand,extractive industries to a wider extension,the deeper the extractive industries listed companies in China face great variety,the risk of harm.Taking the risk of hidden safety hazards as an example,mining characteristics such as deep burial of coal seam,great gas hazard,serious coal dust explosion danger,great threat of rock burst and spontaneous combustion of coal seam pose many challenges to mining of coal and other minerals.More and more safety accidents constantly highlight the importance of risk management.For the development of mining industry in the future,it is necessary to know the influence of risk management level of listed companies in mining industry.This paper takes the 2017-2021 data of listed companies in mining industry as research samples to explore the influencing factors of risk management of listed companies in mining industry.On the basis of combing the risk management theory and constructing the risk management framework,it firstly combines the construction principles in COSO(2017)"Enterprise Risk Management--Integration with Strategy and Performance".Based on five major factors of risk management,the risk management evaluation system of listed companies in mining industry was constructed,and the risk management evaluation index was synthesized by factor analysis method(FA).Secondly,it empirically studies the influencing factors of risk management from five aspects: ownership structure,governance of the board of directors,governance of the board of supervisors,executive incentives,and external corporate governance level,and finally draws conclusions and puts forward relevant policy recommendations.This paper finds that:(1)Compared with non-state-owned enterprises,state-owned enterprises have better risk management.(2)The larger the board size,the better the enterprise risk management.(3)The larger the board of supervisors is,the better it can play its supervisory role and the higher the level of risk management.(4)The lower the shareholding ratio of senior executives,the higher the risk management level.(5)There is a positive correlation between the amount of analyst tracking and the proportion of institutional shareholding and the level of risk management,indicating that the higher the level of corporate external governance,the better the corporate risk management,and it is verified that the level of corporate external governance can promote the improvement of the level of corporate internal governance,and thus promote the improvement of the level of risk management.The innovation of this paper mainly lies in enriching the content of risk management evaluation system and risk management influencing factors.It is hoped that this paper will be of some inspiration on corporate governance and risk management of listed companies in mining industry.