汇率和利率波动影响下国内航空公司运营风险分析
发布时间：2018-08-27 07:45
【摘要】：“风险”,早期是指：事件的不确定性而导致的不安全。随国际金融活动日益频繁且金额日益增大,各种金融风险日益加重,企业承受的各种企业风险随之增长。尤其是上世纪70年代以来开始实施浮动汇率制,投机因素增加,外汇风险控制难度日益增大,给涉及外汇交易的企业带来越来越多的风险,易引发企业汇兑风险、影响企业价值变化、导致企业折算风险或影响企业利润。因此汇率和利率的风险管理成为企业风险管理最重要的组成部分之- 随国内经济的快速增长,国际间贸易活动日益频繁,涉及外汇的交易带来汇率风险和利率风险,同时交易中产生的外汇债务也在受到国内外汇率、利率变动的巨大影响。汇率、利率的波动将会给涉外企业的资产结构、外汇收入带来诸多不确定性,如果不能很好的预知和提前开展风险管理,将可能给企业带来巨大的经济损失。 中国的航空公司绝大部分都涉及国际业务,飞机引进、航材、航油消耗购置、外币债务借贷,相对于普通传统行业涉及更多的汇率和利率风险。因此,航空公司更应该重视汇率和利率风险管控,合理调整自身资产负债、外汇持有量、合理选择结算货币种类、制定灵活的结算方式,量身定做适合自己的风险管理和防范方法和制度。 在此我们旨在通过回顾国内航空公司目前存在的汇率和利率风险问题,探索期成因,结合实例举证分析国内航空公司所面临的利率和汇率风险,并有针对性的提出一些防范方法、建议、总体思路及应采取的管理策略。
[Abstract]:"risk", early on, refers to insecurity caused by the uncertainty of events. With the increasing of international financial activities and the increasing amount of money, all kinds of financial risks are becoming more and more serious. In particular, the floating exchange rate system has been implemented since the 1970s. With the increase of speculative factors and the increasing difficulty of controlling foreign exchange risks, the more risks they bring to enterprises involved in foreign exchange transactions, the easier it is to trigger the exchange risks of enterprises. Affects the enterprise value change, causes the enterprise to convert the risk or the influence enterprise profit. Therefore, the risk management of exchange rate and interest rate has become one of the most important components of enterprise risk management. With the rapid growth of domestic economy, international trade activities become more and more frequent. Transactions involving foreign exchange bring exchange rate risk and interest rate risk. At the same time, the foreign exchange debt generated in the transaction is also greatly affected by the changes of exchange rates and interest rates at home and abroad. The fluctuation of exchange rate and interest rate will bring a lot of uncertainty to the assets structure and foreign exchange income of foreign enterprises. If we can not predict well and carry out risk management in advance, it may bring huge economic losses to enterprises. The vast majority of Chinese airlines are involved in international operations, aircraft imports, aviation materials, aviation fuel consumption, foreign currency debt borrowing, and more currency and interest rate risk than conventional industries. Therefore, airlines should pay more attention to exchange rate and interest rate risk control, rationally adjust their own assets and liabilities, foreign exchange holdings, reasonable choice of settlement currencies, and formulate flexible settlement methods. Tailor to your own risk management and prevention methods and systems. Here, we aim to analyze the interest rate and exchange rate risk faced by domestic airlines by reviewing the current exchange rate and interest rate risk problems of domestic airlines, exploring the causes of the period, and analyzing the interest rate and exchange rate risks faced by domestic airlines. And puts forward some preventive methods, suggestions, general ideas and management strategies.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F562.6;F822.0;F832.6
本文编号：2206587
[Abstract]:"risk", early on, refers to insecurity caused by the uncertainty of events. With the increasing of international financial activities and the increasing amount of money, all kinds of financial risks are becoming more and more serious. In particular, the floating exchange rate system has been implemented since the 1970s. With the increase of speculative factors and the increasing difficulty of controlling foreign exchange risks, the more risks they bring to enterprises involved in foreign exchange transactions, the easier it is to trigger the exchange risks of enterprises. Affects the enterprise value change, causes the enterprise to convert the risk or the influence enterprise profit. Therefore, the risk management of exchange rate and interest rate has become one of the most important components of enterprise risk management. With the rapid growth of domestic economy, international trade activities become more and more frequent. Transactions involving foreign exchange bring exchange rate risk and interest rate risk. At the same time, the foreign exchange debt generated in the transaction is also greatly affected by the changes of exchange rates and interest rates at home and abroad. The fluctuation of exchange rate and interest rate will bring a lot of uncertainty to the assets structure and foreign exchange income of foreign enterprises. If we can not predict well and carry out risk management in advance, it may bring huge economic losses to enterprises. The vast majority of Chinese airlines are involved in international operations, aircraft imports, aviation materials, aviation fuel consumption, foreign currency debt borrowing, and more currency and interest rate risk than conventional industries. Therefore, airlines should pay more attention to exchange rate and interest rate risk control, rationally adjust their own assets and liabilities, foreign exchange holdings, reasonable choice of settlement currencies, and formulate flexible settlement methods. Tailor to your own risk management and prevention methods and systems. Here, we aim to analyze the interest rate and exchange rate risk faced by domestic airlines by reviewing the current exchange rate and interest rate risk problems of domestic airlines, exploring the causes of the period, and analyzing the interest rate and exchange rate risks faced by domestic airlines. And puts forward some preventive methods, suggestions, general ideas and management strategies.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F562.6;F822.0;F832.6
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