| Financial risk resistance is an indispensable choice for corporations to proactively adapt their business to the exterior environment and proactively respond to the adverse effects of environmental changes.In more years the drug business has been slowing down,policies have become stricter and market competition has intensified.It increases the increasing risks associated with an uncertain business environment.As the first listed pharmaceutical manufacturing company in China,the issue of how to achieve sustainable development in the face of changing industry policies and the adverse impact of the new epidemic has become the first issue that companies must deal with.Therefore,It is imperative to maintain appropriate budgetary resiliency to deal to the adverse effects due to the changing context.This paper combines theory and practice,adopts a case study approach,selects Ha Pharma Corporation as the research object,and financial data for 2016-2021 were obtained to explore the financial inelasticity level of the corporation according to the theory of indeterminacy,optimal ordering financing theory,and the theory of dynamic ability.Firstly,the current situation of financial elasticity research at home and abroad was sorted out;secondly,the risks that the case company might face were derived by analyzing the current business situation of Ha Pharma;finally,the current situation of Ha Pharma’s financial elasticity was analyzed by a single indicator first,and then factor analysis was introduced to analyze and interpret the key indicators affecting the financial elasticity of the enterprise.The results show that the financial elasticity of Harbin Pharmaceutical Company gradually increases and then decreases during the study period,with large fluctuations.On this basis,the corresponding optimization measures are proposed in terms of improving cash holdings,reducing financial leverage,broadening financing channels,and adjusting dividend distribution policies to address the problems in financial elasticity of Harbin Pharmaceutical Company,with a view to providing better guidance to relevant departments for the sound development of pharmaceutical enterprises,and also providing realistic guidance on how enterprises can use financial elasticity to cope with business risks. |
