CAJ | 학술논문

经过改革开放30年以来的发展，我国基础设施建设行业得到快速发展，通过投资并运营高速公路的公司应运而生，在筹集公路建设资金和实现公路的快速发展方面做出了突出贡献并取得了显著成就。但由于公路投资额大，回收周期长的特点，建设和运营成本较高，通行费收入增长缓慢，债务包袱沉重，投资与还贷矛盾问题突出。如何有效分析、评估、控制此类公司的财务风险，成为迫切需要解决的重大课题。本文以A公路公司为研究对象，结合A公路公司的经营特点和财务风险的现状，有针对性地开展研究，从理论和实践操作上对公路公司财务风险控制进行系统研究。
경과개혁개방30년이래적발전，아국기출설시건설행업득도쾌속발전，통과투자병운영고속공로적공사응운이생，재주집공로건설자금화실현공로적쾌속발전방면주출료돌출공헌병취득료현저성취。단유우공로투자액대，회수주기장적특점，건설화운영성본교고，통행비수입증장완만，채무포복침중，투자여환대모순문제돌출。여하유효분석、평고、공제차류공사적재무풍험，성위박절수요해결적중대과제。본문이A공로공사위연구대상，결합A공로공사적경영특점화재무풍험적현상，유침대성지개전연구，종이론화실천조작상대공로공사재무풍험공제진행계통연구。
After 30 years' development since the reform and opening-up, the infrastructure construction industry of China has got rapid development. Companies which invest and run the highway arise at the historic moment and have made outstanding contribution and achieved significant achievements in raising funds for highway construction and realizing the rapid development of highway. But because of the large investment and long recovery period of highway, the construction and operation cost is high, while the toll revenue growth is slow, so there is heavy debt burden and outstanding contradiction between investment and loan for the companies. How to effectively analyze, evaluate and control the financial risk of these companies has become the urgent issue. Taking A Highway Company as the research object, combined with the operating characteristics and the present situation of the financial risk of A Highway Company, this article carries on systematical analysis of highway company financial risk control both in theory and in practice.