Early-warning Mechanism of Forestry Enterprise Financial Risk Based on Entropy Value Method and Efficacy Coefficient Method:A Case Study of Fujian Yongan Forestry(Group)Joint-Stock Co.,Ltd.
Forestry is an important pillar industry related to the national economy and people's livelihood,and undertakes the multiple missions of promoting the national economic development,improving the ecological environment and ameliorating people's well-being.Under the background of promoting the great rejuvenation of the Chinese nation with Chinese-style modernization,the forestry sector is actively adjusting its industrial structure and building a modern forestry industry system for a circular economy.Forestry enterprises should constantly pay attention to their own financial situation when making strategic choices.Based on the data from Yongan annual report in 2015-2022,this paper selects 7 indicators that can best reflect the financial status of Yongan Forestry from 21 financial indicators using the entropy method,assigns weights to the indicators,and finally uses the efficiency coefficient method for performance evaluation and early warning.On this basis,the paper puts forward relevant suggestions for forestry enterprises to prevent financial risks:1)Actively seeking policy support;2)Improving the risk assessment system;3)Preparing for industrial transformation;4)Optimizing the capital structure;and 5)Strengthen investment in technology.
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