In the process of production and operation,the funds held by enterprises often do not meet the needs of the expanding production scale,so enterprises usually obtain the required funds by borrowing.However,the financin...In the process of production and operation,the funds held by enterprises often do not meet the needs of the expanding production scale,so enterprises usually obtain the required funds by borrowing.However,the financing mode of enterprises is not only limited to borrowing from banks or other financial institutions.With the rapid economic development and the continuous activity of the capital market,the bond market has gradually become an important channel for enterprise financing⑴,In order to improve the layout of the industrial chain,Guangyi Technology has carried out continuous mergers and acquisitions(M&A)since 2013.Due to its limited funds,Guangyi Technology acquired a large amount of funds required for M&A by means of equity pledge.However,the copyright cloud project invested in M&A in the early stage did not achieve the expected results,leading to a frequent breach of equity pledge,which evolved into debt defaults.Therefore,this article takes Guangyi Technology as the research subject and puts forward relevant avoidance suggestions through the evaluation of its debt default risk.展开更多
As a core issue in enterprise operation management,corporate financial risk is directly related to the survival and development of enterprises,and digital transformation has brought new challenges to the control of co...As a core issue in enterprise operation management,corporate financial risk is directly related to the survival and development of enterprises,and digital transformation has brought new challenges to the control of corporate financial risk.Based on the data of The Shanghai Stock Exchange(SSE)and Shenzhen Stock Exchange(SZSE)from 2009 to 2022,this paper analyzes the impact of digital transformation on corporate financial risk and the impact mechanism.The empirical study finds that digital transformation significantly increases the financial risk of enterprises,and shows differences among different regions,different risk factors,and enterprise natures,and substantially increases the corporate financial risk in the East and West,non-state-owned enterprises,high-risk and low-risk enterprises.The mechanism analysis found that digital transformation would affect the financial risk of enterprises by increasing their R&D investment and reducing their debt level.The conclusion improves insights and guidance for analyzing and managing financial risks in enterprises under digital transformation.展开更多
[Objective] The aim was to analyze risks of transgenic technology. [Method] Discussions on risks of transgenic technologies were conducted from perspective of philosophy. [Result] Mechanistic philosophy and reductioni...[Objective] The aim was to analyze risks of transgenic technology. [Method] Discussions on risks of transgenic technologies were conducted from perspective of philosophy. [Result] Mechanistic philosophy and reductionism are causes of reflection on risks of transgenic technology. Considering transgene is an artificial choice taking place of natural choice, it is inevitable for risks of transgenic technology to be found. In addition, social system constitutes the root for out-of-control of transgenic technology, hence, mechanism risk is the primary cause of transgenic risks. [Conclusion] It is inescapable for science view to be changed from arbitrary and lopsided to reflective and comprehensive and for technology view to be changed from exterminative and genesic to protective and symbiotic.展开更多
The risks of the current identity system represented by Domain Name System(DNS)and Object Identifier(OID)are studied.According to the characteristics of the industrial Internet Identity(Ⅲ)system,four open ecosystem p...The risks of the current identity system represented by Domain Name System(DNS)and Object Identifier(OID)are studied.According to the characteristics of the industrial Internet Identity(Ⅲ)system,four open ecosystem planes are divided,and a corresponding risk analysis view is established to analyze risks for various planes.This paper uses Isaiah Berlin’s definition of liberty to more generally express the concept of security as positive rights and negative rights.In the risk analysis view,the target system is modeled from four dimensions:stakeholders,framework,architecture,and capability delivery.At last,three defensive lines are proposed to establish the identity credit system.展开更多
At present,the“grey rhinoceros”in China’s financial sector mainly exists in the real estate bubble and enterprise debt accumulation.In order to release the financial risks accumulated in the past,on the one hand,we...At present,the“grey rhinoceros”in China’s financial sector mainly exists in the real estate bubble and enterprise debt accumulation.In order to release the financial risks accumulated in the past,on the one hand,we should weaken the economic growth indicators,resolve to eliminate the zombie enterprises,neutralize the monetary policy and change the incentive mechanism of the officials’assessment.On the other hand,we should also encourage the ideological emancipation to stabilize the expectation and further promote streamlining government and delegating authorities.展开更多
文摘In the process of production and operation,the funds held by enterprises often do not meet the needs of the expanding production scale,so enterprises usually obtain the required funds by borrowing.However,the financing mode of enterprises is not only limited to borrowing from banks or other financial institutions.With the rapid economic development and the continuous activity of the capital market,the bond market has gradually become an important channel for enterprise financing⑴,In order to improve the layout of the industrial chain,Guangyi Technology has carried out continuous mergers and acquisitions(M&A)since 2013.Due to its limited funds,Guangyi Technology acquired a large amount of funds required for M&A by means of equity pledge.However,the copyright cloud project invested in M&A in the early stage did not achieve the expected results,leading to a frequent breach of equity pledge,which evolved into debt defaults.Therefore,this article takes Guangyi Technology as the research subject and puts forward relevant avoidance suggestions through the evaluation of its debt default risk.
文摘As a core issue in enterprise operation management,corporate financial risk is directly related to the survival and development of enterprises,and digital transformation has brought new challenges to the control of corporate financial risk.Based on the data of The Shanghai Stock Exchange(SSE)and Shenzhen Stock Exchange(SZSE)from 2009 to 2022,this paper analyzes the impact of digital transformation on corporate financial risk and the impact mechanism.The empirical study finds that digital transformation significantly increases the financial risk of enterprises,and shows differences among different regions,different risk factors,and enterprise natures,and substantially increases the corporate financial risk in the East and West,non-state-owned enterprises,high-risk and low-risk enterprises.The mechanism analysis found that digital transformation would affect the financial risk of enterprises by increasing their R&D investment and reducing their debt level.The conclusion improves insights and guidance for analyzing and managing financial risks in enterprises under digital transformation.
文摘[Objective] The aim was to analyze risks of transgenic technology. [Method] Discussions on risks of transgenic technologies were conducted from perspective of philosophy. [Result] Mechanistic philosophy and reductionism are causes of reflection on risks of transgenic technology. Considering transgene is an artificial choice taking place of natural choice, it is inevitable for risks of transgenic technology to be found. In addition, social system constitutes the root for out-of-control of transgenic technology, hence, mechanism risk is the primary cause of transgenic risks. [Conclusion] It is inescapable for science view to be changed from arbitrary and lopsided to reflective and comprehensive and for technology view to be changed from exterminative and genesic to protective and symbiotic.
文摘The risks of the current identity system represented by Domain Name System(DNS)and Object Identifier(OID)are studied.According to the characteristics of the industrial Internet Identity(Ⅲ)system,four open ecosystem planes are divided,and a corresponding risk analysis view is established to analyze risks for various planes.This paper uses Isaiah Berlin’s definition of liberty to more generally express the concept of security as positive rights and negative rights.In the risk analysis view,the target system is modeled from four dimensions:stakeholders,framework,architecture,and capability delivery.At last,three defensive lines are proposed to establish the identity credit system.
文摘At present,the“grey rhinoceros”in China’s financial sector mainly exists in the real estate bubble and enterprise debt accumulation.In order to release the financial risks accumulated in the past,on the one hand,we should weaken the economic growth indicators,resolve to eliminate the zombie enterprises,neutralize the monetary policy and change the incentive mechanism of the officials’assessment.On the other hand,we should also encourage the ideological emancipation to stabilize the expectation and further promote streamlining government and delegating authorities.
