大型国有粮食企业套期保值模式研究

发布时间：2018-01-17 17:26

  本文关键词：大型国有粮食企业套期保值模式研究　出处：《对外经济贸易大学》2017年硕士论文　论文类型：学位论文

  更多相关文章： 粮食企业 套期保值 模式

【摘要】：近几年来,粮食企业在不断发展的过程中,业务逐步由仓储向生产加工和贸易拓展,而大型国有粮食企业作为维护和保障国家粮食安全的重要载体,一方面面临市场化经营,另一方面还承担着民生保障等社会责任,自身对风险管理的需求越来越迫切。随着农产品的期货市场逐步发展和完善,越来越多的粮食企业参与到期货市场中,并通过套期保值的方式来规避风险,因此,这些粮食企业在不断提高自身经营能力的同时,还要结合企业自身实际情况采取相应的套期保值模式。本文将通过理论研究与案例分析相结合的方式,对粮食企业参与农产品期货套期保值的相关问题、目标策略以及业务流程进行分析,将企业实际经营情况和业务模式与套期保值相结合,探索适用于我国大型国有粮食企业的农产品期货套期保值模式,并提出对策建议。本文经过分析实证,认为大型国有粮食企业不仅应积极参与套期保值,还应成为农产品期货市场的交易主体,针对其生产加工和贸易等粮食产业链主营业务的套期保值需求,要充分分析国内外供需市场行情,预测农产品期货价格走势,确定套期保值规模,并进行成本测算,分析评估可能存在的风险,建立套保方案计划。实证表明,依此模式建立的粮食企业套期保值方案计划有很强的科学性和可操作性,对市场行情和趋势判断较为准确,有利于企业实际套期保值操作。
[Abstract]:In recent years, grain enterprises in the process of continuous development, business gradually from warehousing to production, processing and trade expansion, and large state-owned grain enterprises as an important carrier to maintain and ensure national food security. On the one hand, facing market-oriented operation, on the other hand, it is also shouldering social responsibilities such as livelihood security, and its own demand for risk management is becoming more and more urgent. With the gradual development and improvement of the futures market of agricultural products. More and more grain enterprises participate in the futures market and hedge to avoid the risk. Therefore, these grain enterprises are constantly improving their own operating capacity at the same time. This paper will combine the theoretical research with the case study, to the grain enterprises to participate in the agricultural products futures hedging related issues. By analyzing the target strategy and business process, combining the actual business situation and business model with hedging, this paper explores the futures hedging model of agricultural products suitable for large state-owned grain enterprises in China. And put forward countermeasures and suggestions. Through the analysis of empirical evidence, this paper thinks that large state-owned grain enterprises should not only actively participate in hedging, but also become the main trading body of the agricultural product futures market. In view of the hedging demand of the main business of grain industry chain, such as production, processing and trade, it is necessary to fully analyze the domestic and foreign market of supply and demand, forecast the trend of agricultural product futures price, and determine the scale of hedging. And the cost calculation, analysis and assessment of possible risks, the establishment of hedging plan plan. Empirical results show that the grain enterprises based on this model of hedging program plan has a strong scientific and operational. Market market and trend judgment is more accurate, conducive to the actual hedging operations.
【学位授予单位】：对外经济贸易大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F724.5;F323.7
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本文编号：1437239