扬州FT贸易有限公司汇率风险管理研究

发布时间：2018-02-27 17:18

本文关键词： 汇率改革中小企业汇率风险管理策略　出处：《扬州大学》2013年硕士论文　论文类型：学位论文

【摘要】：随着改革开放的不断深入,我国对外贸易规模不断扩大,许多企业逐渐走向国际市场,参与到国际化竞争中。汇率的波动关系到所有涉外企业的直接利益,短期内,汇率风险关系到企业在进出口贸易、境外投资融资过程中的运营成本及经营成果；而在较长阶段内,汇率波动可能导致企业面临的竞争状况发生显著变化,最终影响其长期盈利状况。目前全世界都在瞩目中国经济的崛起,而数量庞大的中小企业正是推动中国经济高速发展的不竭动力,中小企业已近逐步发展成为中国对外贸易的中坚力量。我国中小型外贸企业普遍规模较小、实力较弱,因此抵抗风险能力不足,同时外贸企业的外汇业务会涉及到很多的国际惯例、贸易规则以及国际法律条款等因素,具有很强的专业技术性。在这样的情况下很多中小企业应对汇率风险的意识淡薄,规避风险的相关管理方法更是无从谈起。对于逐步走向国际市场的中小企业来说,想要长远平稳发展,必须直面挑战,积极应对,主动运用经济管理手段和金融工具来防范汇率风险,找出适应自身发展的汇率管理策略。本文主要是以扬州FT贸易有限公司为主要研究对象,从扬州FT贸易有限公司的经营管理实际出发,通过借鉴国内外外汇风险管理的相关理论,分析扬州FT贸易有限公司的经营管理环境及经营管理现状,总结了公司面临的汇率风险主要有折算风险、交易风险和经济风险,提出在现行汇率制度下扬州FT贸易有限公司汇率风险管理总体处于被动状态,没有系统、科学的风险管理方法,在汇率管理中存在的具体问题有：缺乏科学的风险管理理念,缺乏全面有效的避险工具,缺乏汇率风险管理的专业人才。针对这些问题,从企业管理角度论文提出了扬州FT贸易有限公司汇率风险管理的对策：一是要明确公司汇率管理的目标是规避风险稳健保值；二是要提高提高识别风险的能力；三是要加强汇率风险管理人才培养,树立风险管理意识,培养自有员工的汇率管理专业技能,提升汇率风险管理能力；四是要综合运用汇率风险管理策略,在财务管理方面灵活运用融资方式,降低运行成本,以提高企业效益,在金融衍生工具方面积极主用利用金融机构提供的汇率风险管理工具,选择适合企业经营管理需要的金融产品,从而有效地控制和规避企业的汇率风险,在贸易经营方面要适当运用合同条款,合理选择计价货币,有效的把外汇风险管理与企业的长期发展战略目标相结合起来,调整产品生产经营策略,控制管理成本,提升产品技术内涵,培育产品的核心竞争力,提高企业产品议价的能力。进一步,通过对扬州FT贸易有限公司汇率风险管理的研究,为我国相同类型的中小型外贸企业汇率风险的防范管理提供借鉴,帮助我国中小型外贸企业更加平稳健康的发展,进而促进我国国际贸易的健康发展。
[Abstract]:With the deepening of reform and opening up, the scale of China's foreign trade continues to expand, many enterprises gradually go to the international market, participate in international competition. The fluctuation of exchange rate is related to the direct interests of all foreign enterprises, in the short term, Exchange rate risk is related to the operating cost and operating achievement of the enterprise in the process of import and export trade, overseas investment and financing. In a longer period, the exchange rate fluctuation may lead to a significant change in the competitive situation faced by the enterprise. Ultimately affect its long-term profitability. At present, the world is focusing on the rise of China's economy, and a large number of small and medium-sized enterprises are the inexhaustible driving force behind the rapid development of China's economy. Small and medium-sized enterprises have gradually developed into the backbone of China's foreign trade. China's small and medium-sized foreign trade enterprises are generally small in scale and weak in strength, so they have insufficient ability to resist risks. At the same time, the foreign exchange business of foreign trade enterprises will involve a lot of factors such as international practice, trade rules and international legal provisions, and have a very strong professional technology. Under such circumstances, many small and medium-sized enterprises have a weak awareness of how to deal with exchange rate risks. For small and medium-sized enterprises that step by step towards the international market, if they want to develop smoothly in the long run, they must face the challenge and actively deal with it. Actively use economic management means and financial instruments to guard against exchange rate risk and find out the exchange rate management strategy adapted to their own development. In this paper, Yangzhou FT Trading Co., Ltd. is the main research object, from Yangzhou FT Trading Co., Ltd.'s operation and management reality, through the reference of foreign exchange risk management theory at home and abroad, This paper analyzes the operation and management environment and current situation of Yangzhou FT Trading Co., Ltd., summarizes the exchange rate risks faced by Yangzhou FT Trading Co., Ltd., including conversion risk, transaction risk and economic risk. Under the current exchange rate system, Yangzhou FT Trading Co., Ltd. is in a passive state of exchange rate risk management. There is no systematic and scientific risk management method. The concrete problems in exchange rate management are: lack of scientific risk management concept. Lack of comprehensive and effective hedging tools, lack of exchange rate risk management professionals. From the point of view of enterprise management, the paper puts forward the countermeasures of exchange rate risk management of Yangzhou FT Trading Co., Ltd. Third, it is necessary to strengthen the training of exchange rate risk management personnel, to establish risk management awareness, to cultivate the exchange rate management professional skills of its own staff, and to enhance the exchange rate risk management ability; fourth, to comprehensively apply exchange rate risk management strategies. In the aspect of financial management, the flexible use of financing methods, the reduction of operating costs, in order to improve the efficiency of enterprises, the main use of financial derivatives in the use of exchange rate risk management tools provided by financial institutions, To select financial products suitable for the needs of enterprise operation and management, so as to effectively control and avoid the exchange rate risk of the enterprise, to apply the terms of the contract in trade operations, and to reasonably select the valuation currency, Effectively combine the foreign exchange risk management with the long-term development strategic goal of the enterprise, adjust the production and management strategy of the product, control the management cost, enhance the technical connotation of the product, cultivate the core competitiveness of the product, Improve the bargaining power of enterprise products. Further, through the study of exchange rate risk management of Yangzhou FT Trading Co., Ltd., it provides reference for the prevention and management of exchange rate risk of the same type of small and medium-sized foreign trade enterprises in our country, and helps the small and medium-sized foreign trade enterprises of our country to develop more smoothly and healthily. Then promote the healthy development of China's international trade.
【学位授予单位】：扬州大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F752;F740.45;F832.6

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