MBA教育中心知识库

  国有企业是中国特色社会主义的重要物质基础和政治基础，是党执政兴国的重要支柱和依靠力量。国有资本投资公司作为国有企业阵营的重要力量，主要以服务国家和地方发展战略、优化国有资本布局结构、提升产业发展竞争力等为功能定位，在关系国家和地方经济发展的重要行业和关键领域，开展投资融资、产业培育和资本运作等，着力提升国有资本控制力、影响力。鉴于国有资本投资公司主要围绕重点产业、重大项目和重要领域发挥功能作用，其风险防控就显得尤为重要。从当前国有资本投资公司改革试点的实际看，国内关于国有资本投资公司全面风险管理的研究文献较少，可借鉴可推广的经验做法亦处于试点探索阶段；国有资本投资公司在重大风险防范、健全风险管理体系、建立风险预警机制、提高资本增值保值能力等方面值得更多关注和研究。

  本文在对国有资本投资公司全面风险评估相关理论进行系统研究的基础上，以T公司为例，对其战略风险、财务风险、市场风险、运营风险、法律风险、治理风险等进行综合评估分析。针对风险管理的不确定性和难以量化的特性，采取定性和定量的分析方法，从风险发生的可能性和风险结果的影响程度两个维度进行评估。评估过程通过建立模糊规则模型和专家评分的方式进行全面风险分析，梳理评估出T公司较大及以上等级的风险。评估运算过程中运用MATLAB仿真软件进行评估仿真调试，得出风险分布曲面图，更为直观地展示T公司风险分布相关情况。针对风险评估结果，综合研判T公司当前风险状态，并提出全面风险管理的有关对策建议，为国有资本投资公司全面防范风险提供借鉴。

State-owned enterprises (SOEs) are significant material and political foundations of socialism with Chinese characteristics, as well as vital pillars and reliable forces for the Party to govern and rejuvenate the country. As a crucial force in the SOE sector, state-owned capital investment companies primarily serve national and local development strategies, optimize the layout and structure of state-owned capital, and enhance the competitiveness of industrial development. They engage in investment and financing, industrial cultivation, and capital operation in critical industries and key sectors that are related to national and local economic development, focusing on enhancing the control and influence of state-owned capital. Given that state-owned capital investment companies primarily function around key industries, significant projects, and important areas, risk prevention and control are particularly important. From the current perspective of the reform pilot of state-owned capital investment companies, there are few research documents on comprehensive risk management of state-owned capital investment companies in China, and the experiences that can be learned from and promoted are still in the pilot exploration stage. More attention and research should be given to major risk prevention, improving the risk management system, establishing risk warning mechanisms, and enhancing the ability to increase and maintain capital value. Based on a systematic study of relevant theories of comprehensive risk assessment for state-owned capital investment companies, this paper takes Company T as an example to conduct a comprehensive assessment and analysis of its strategic risks, financial risks, market risks, operational risks, legal risks, and governance risks. Considering the uncertainty and difficulty in quantifying risk management, qualitative and quantitative analysis methods are adopted to evaluate the probability of risk occurrence and the impact degree of risk results. The assessment process conducts a comprehensive risk analysis by establishing a fuzzy rule model and expert scoring, identifying significant and above-average risks for Company T. MATLAB simulation software is used in the assessment and simulation debugging process to obtain a risk distribution surface chart, providing a more intuitive display of the risk distribution of Company T. Based on the risk assessment results, a comprehensive evaluation of the current risk status of Company T is conducted, and relevant countermeasures and suggestions for comprehensive risk management are proposed, providing a reference for state-owned capital investment companies to comprehensively prevent risks.