摘 要:随着我国资本市场的发展，一方面资本市场为上市公司提供了广阔的融资平台，另一方面又有大批公司因为财务状况等原因被特殊标记，这就要求投资者在证券市场上进行投资时，不仅要关注企业的盈利能力，更要关心盈利背后的不确定性，即企业风险，特别是公司财务风险。而纺织服装行业又是我国的一个特殊行业，本身既存在着发展瓶颈的问题又有着转型升级的机遇。文章将结合纺织服装业的发展现状，从财务风险的概念和形成的内外部原因、纺织服装业的行业环境与财务风险的联系、财务风险指标对财务风险的度量等方面，宏观环境、微观指标两个不同的角度对财务风险进行分析。通过宏观环境的分析可以为理解公司的财务风险奠定坚实的基础，而微观的财务指标的研究又可以为计算财务风险提供一个简单地方法。希望以此给投资者的投资决策做出一定的指导，也给公司内部管理者经营管理公司控制财务风险提供一定参考。

关键字：财务风险；纺织服装业；宏观环境；财务指标

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