摘 要:隨著我國資本市場的發展，一方面資本市場為上市公司提供了廣闊的融資平臺，另一方面又有大批公司因為財務狀況等原因被特殊標記，這就要求投資者在證券市場上進行投資時，不僅要關注企業的盈利能力，更要關心盈利背后的不確定性，即企業風險，特別是公司財務風險。而紡織服裝行業又是我國的一個特殊行業，本身既存在著發展瓶頸的問題又有著轉型升級的機遇。文章將結合紡織服裝業的發展現狀，從財務風險的概念和形成的內外部原因、紡織服裝業的行業環境與財務風險的聯系、財務風險指標對財務風險的度量等方面，宏觀環境、微觀指標兩個不同的角度對財務風險進行分析。通過宏觀環境的分析可以為理解公司的財務風險奠定堅實的基礎，而微觀的財務指標的研究又可以為計算財務風險提供一個簡單地方法。希望以此給投資者的投資決策做出一定的指導，也給公司內部管理者經營管理公司控制財務風險提供一定參考。

關鍵字：財務風險；紡織服裝業；宏觀環境；財務指標

ABSTRACT:With the development of domestic capital market, listed companies on the one hand are provived with capacious financing platform, lots of unlisted companies on the other hand are marked distinctly due to their poor financing situations. This then requires accurate attention paid not only to profitability of enterprises, but more attention be paid on the uncertainties at the back of profits, that’s to say the business risks, especially the financial risks. Textile industry,as a special domestic industry, are companied innately with both bottleneck of development and chances of transformation and promotion. This paper will combine the development situation of textile industry to make analyses via both macroscopic and microscopic views in financial risks from the following aspects: the conception of financial risks and the interior and exterior reasons forming it, the relationship between the textile industry development situation and financial risks, and the method with which the financial risks are measured according to relevant index and more. Macroscopic analyses are for concrete base foundation of comprehension of company’s financial risks, and research into microscopic index are beneficial for calculation of financial risks. This paper is expected to offer some instructions for investor’s decision making, and for inside administrators to better control the company’s financial risks.

Keywords:  financial risks; textile industry; macroscopic environment; financial index