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ion of public participation on environmental issues is a major way to solve these problems. Enterprises can be oriented around the public through surveys and meetings, the production activities that may affect their management methods and associated factors in advance a clear introduction to the public in detail, so that both sides can be understood to the greatest extent.
3) Environmental risk management process to monitor.Hisense Electric mainly for monitoring the following aspects: (a) to promote the popularization of energy-saving equipment in the monitoring. (B) monitoring the implementation of quota management situation. (C) promote cleaner production monitoring. (D) Implementation of monitoring compliance with ROHS standards. (E) to promote the recycling of waste home appliances sectors monitored. (Vi) the deepening environmental monitoring system construction.
5）the capital structure and the WACC of Hisense 

Above table is the capital structure of Hisense, the funds of Hisense mainly come from the issuing of shares. Because Hisense is a listed company and it does not use the methods of issuing bonds or borrowing from banks. And the total paid-up capital is ￥1,306,645,222.00. Hisense chooses the because the disadvantage of corporate bond financing is the high financial risk and the bank loan financing method has high risks. And the total capital structure of Hisense in 2013 is as following:
Figure 1 Total Capital Structure of Hisense in 2013
As we can see from above figure, the majority of Hisense’s total capital is the current assets such as the receivable interest, receivable dividends and so on.
The calculation of WACC of Hisense:
WACC=(E/V)×Re+(D/V)×Rd×(1-Tc)
Re is the equity capital. And the Re here is 0.8/11.8+0.24=0.31.

E is the Shares Capital which is 270,000,000 yuan.
Rd is the cost of debt which is Loan interest rate×(1-rate of income tax)/(1-financing fee rate) =0.05.
D is the corporate obligation which is 8,681,648,447.86 yuan.
V = E + D= 8,951,648,448 yuan.
Tc is the rate of income tax which is 25%.
Thus the WACC for Hisense is 
(270,000,000/ 8,951,648,448)*0.31+(8,681,648,447.86/8,951,648,448)*0.05*(1-0.25)
=4.57%

Conclusion总结

In this paper, Hisense Electric as a case of environmental risk management and to study the relationship between the cost of capital, highly-targeted in environmental risk management investments to reduce the weighted average cost of capital due to reduce the company's cost base, so the larger the profit level of income. These findings also support the position taken by the normative provisions that managers 'should' improve environmental risk management, because doing so, they will among other things reduce the company's cost of capital.

References文献

[1] Li Weidong, Zhao Dongfeng, Zhao Chaocheng. 2008 .Correlation between environmental risk assessment and safety risk assessment. Environmental Science and Management, 
[2] Tangbing Liang, 2006.'corporate financial analysis,' Capital Economic and Trade University Press
[3] Report on Shu Min. Hisense Co., 2008 Economic Work Conference [N]. Hisense era
[4] Wang Yue. 2008.Hisense International Deve本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。