论文总字数：28724字

摘 要

互联网行业作为新兴产业，受到国家扶持，近年来发展迅猛。然而，其良好的发展势头背后隐藏着风险。互联网企业处于瞬息万变的网络环境中，风险难以被识别和衡量。在这种情况下，企业内部风险控制容易失去平衡，逐渐导致其应对外部风险的能力越来越薄弱，大大阻碍企业发展。因此，本文旨在深入分析互联网上市公司面临的财务风险并建立起科学有效的预警系统，为保障互联网企业的财务安全贡献一份自己的力量。

文章运用文献分析、定量分析和案例分析的方法，首先明确了财务预警的定义和研究方法，接着将互联网企业面临的财务风险分为经营风险、筹资风险和投资风险三类，并按风险的分类选取指标，建立起预警系统。再以佳都科技为例，运用建立起的预警系统，选择其2015-2019年的财务数据进行具体分析，能够发现佳都科技面临着很大的经营风险和筹资风险，投资风险也需要进行关注。

本文在对互联网企业进行分析后，可以得出互联网企业在面临较大的经营、筹资和投资风险时，并没有足够重视并建立有效的预警系统进行应对这一结论。在分析中可以证明本文建立起的财务预警模型涵盖了互联网企业特点，能够有效反映互联网企业面临的风险大小。

本文最后还为如何完善互联网上市企业财务预警系统提出了建议。管理层首先开始重视风险预警、引进专业人才进行风控以及建立专门的风险预警部门都是减小和规避风险的有效措施。本文的研究能够加深管理层的风险认知水平，使企业尽早发现即将到来的财务风险并进行精准识别，采取恰当措施及时规避，保护企业的财务安全，从而提高其行业竞争地位。

关键词：互联网上市公司；财务风险预警；经营风险；筹资风险；投资风险

Research on Financial Early Warning of Listed Companies in the Internet Industry-Taking Jiadu Technology as an Example

Abstract

As an emerging industry, the Internet industry is supported by the nation and is developing rapidly in recent years. However, risks are hidden behind this good momentum. For Internet companies which are surrounded by a fast-changing network environment, risks are difficult to identify and measure. Under this circumstance, the internal risk control of the enterprise is easy to lose balance, which gradually leads to its weaker and weaker ability to deal with external risks, at last greatly hinders the development of the enterprise. Therefore, this article aims to deeply analyze the financial risks faced by Internet listed companies, establish a scientific and effective early warning system to contribute to the financial security of Internet companies.

Using the methods of literature analysis, quantitative analysis and case analysis, the article first clarifies the definition and research methods of financial early warning, then divides the financial risks faced by Internet companies into three categories: operating risk, financing risk and investment risk. Next, it chooses indicators according to the three categories to establish an early warning system. Afterwards, the article takes Jiadu Technology as an example, putting the established early warning system into practice, selecting its financial data from 2015 to 2019 for specific analysis. It can be found that Jiadu Technology faces great business risks and financing risks, and its investment risks also need to be paid attention to.

After analyzing Internet companies, this article can conclude that these companies do not pay enough attention to the risk itself and do not lay much emphasis on establishing effective early warning systems to deal with the giant risks in operation, financing and investment. In the process of analysis, it can be proved that the financial early warning model established in this article covers the characteristics of Internet companies and can effectively reflect the magnitude of the risks faced by Internet companies.

At the end of this article, suggestions are put forward for solving the problem of how to improve the financial early warning system of listed companies in the Internet industry. Company leaders first begin to pay attention to risk early warning, introducing professional talents to do the work of risk control, establishing a special risk early warning department are all effective measures to reduce and avoid risks. The research in this paper can deepen the management level of risk awareness, enable companies to detect and identify upcoming financial risks accurately as early as possible. The research can make an Internet company capable of taking appropriate measures to avoid risks in time, reaching the goal of protecting the company"s financial security, thereby enhancing its competitive position in the industry.

Keywords: Internet listed companies; Financial risk warning; Business risk; Financing risk; Investment risk

目 录

摘 要 I

Abstract II

第一章 绪 论 1

1.1 研究背景 1

1.2 研究目的及意义 1

1.3 研究内容及方法 1

1.4 论文框架 2

第二章 财务预警相关理论基础 3

2.1 财务预警的定义 3

2.2 财务预警的研究方法 3

2.2.1 定性分析法 3

2.2.2 定量分析法 3

2.3 文献综述 4

2.3.1 财务风险产生的原因 4

2.3.2 财务预警指标和模型的构建 4

2.3.3 财务预警体系的建立 4

2.3.4 提升企业财务预警能力的对策 5

2.3.5 文献评述 5

第三章 互联网上市公司财务风险和预警现状 6

3.1 互联网企业发展现状 6

3.2 互联网企业财务风险及预警现状 6

3.2.1 经营风险 6

3.2.2 筹资风险 6

3.2.3 投资风险 7

3.2.4 财务预警现状 7

3.3 互联网企业财务风险成因 7

3.3.1 现金流量短缺 7

3.3.2 人才流失 7

3.3.3 难以创新和更改盈利模式 7

第四章 互联网上市公司财务预警体系的构建 8

4.1 财务预警体系构建原则 8

4.2 互联网企业财务预警体系构建 8

4.2.1 经营风险指标 8

4.2.2 筹资风险指标 9

4.2.3 投资风险指标 10

第五章 佳都科技财务风险预警及风险成因分析 12

5.1 佳都科技简介 12

5.2 佳都科技风险预警指标计算和分析 12

5.2.1 佳都科技经营风险指标计算分析 12

5.2.2 佳都科技筹资风险指标计算分析 12

5.2.3 佳都科技投资风险指标计算分析 13

5.3 佳都科技财务风险问题分析 13

5.3.1 经营风险大 13

5.3.2 极可能产生筹资风险 14

5.3.3 投资风险需要关注 14

5.4 佳都科技财务风险产生的原因 15

5.4.1 企业对现金流量的监测和把控不够到位 15

5.4.2 企业资金来源渠道单一 15

5.4.3 企业内部财务预警体系不完善 15

5.4.4 企业领导层多年无更新 16

第六章 完善互联网行业财务预警系统的建议 17

6.1管理层首先具备风险管理意识，起到带头作用 17

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