ANALYSIS OF FINANCIAL RISK MANAGEMENT MECHANISMS IN COTTON GINNING JOINT-STOCK COMPANIES

This thesis analyzes the formation of financial risks in cotton ginning joint-stock companies and examines the current state of mechanisms used to manage these risks. The study identifies key factors negatively affecting financial stability, including the seasonal nature of the industry, uneven cash flows, a high share of accounts receivable, and liquidity-related risks. The structural elements of financial risk management mechanisms are identified, and the extent of their application in cotton ginning joint-stock companies is evaluated. The results of the analysis provide a scientific and methodological basis for improving financial risk management mechanisms in the future.本论文剖析了轧棉股份有限公司的金融风险形成机理，并考察了该类企业用于管控此类风险的机制现状。本研究识别出对金融稳定性产生负面影响的关键因素，包括行业季节性特征、现金流不均衡、应收账款占比过高以及流动性相关风险。研究明确了金融风险管理机制的构成要素，并评估了这些机制在轧棉股份有限公司中的应用程度。本次分析所得结果可为未来优化金融风险管理机制提供科学方法论层面的依据。