Research On Capital Chain Risk Management Of D Coal Enterprises

Coal industry is one of the important industries closely related to people’s life and has made great contributions to the development of the national economy.Since 1990,with the strong support of government departments,the domestic coal industry has entered a stage of rapid development.Compared with other industries,the coal industry has many characteristics,such as large geographical differences,long operating cycles,high debt ratios,and huge investment.The debt ratio of most domestic coal enterprises shows an obvious upward trend.The fundamental reason is that the initial capital investment of the coal industry is relatively high,and in the process of the entire coal development project,the capital demand is huge,which has a great impact on the capital reserves of coal enterprises.It has high requirements.If the capital reserve of the coal enterprise is insufficient,the project capital chain will be broken,and the capital turnover will not be smooth,which will cause problems in the operation of the entire enterprise,and even lead to the collapse of the enterprise.Therefore,the smooth operation of the capital chain is very important for enterprises.This study selects D coal enterprises as the research object,and adopts literature research method,case study method,qualitative and quantitative analysis method,etc.The article first expounds the basis of topic selection,scientific research purpose and significance,and at the same time,it also analyzes the relevant domestic capital chain in China.The content of the literature is summarized,which provides a theoretical foundation for the discussion in the following chapters.Secondly,it introduces the relevant theory of capital chain management,mainly expounds the risk of asset chain,its causes and its management and control,and the theory of risk management.Then it makes a comprehensive analysis of the financial status of D coal enterprise,briefly describes the basic status of the enterprise,and then analyzes the status of its capital chain management.Using data,from the perspectives of capital raising,capital utilization,and capital withdrawal,the paper identifies the possible financial risks faced by the capital of D company,and explains the main problems it faces and the reasons for the problems.Then establish a model and evaluate the financing chain risk of D coal enterprise.Including the description,selection,establishment,calculation and analysis of the model,as well as the result test of the calculation results using the F model,and the result analysis.Finally,analyze the potential risks in the company’s capital chain management from the four different dimensions of internal management,capital return,capital utilization,and capital financing,and put forward targeted opinions and suggestions to reduce the risk of enterprise capital chain management.This paper takes D coal enterprise as the research object to deeply analyze the potential problems in the capital chain management of coal enterprises,analyze them,and propose countermeasures.It lays a certain theoretical foundation for the follow-up research,and at the same time has reference significance for the capital chain management of other coal enterprises in my country.