本文選題：J鋼鐵公司　切入點(diǎn)：套期保值　出處：《山東大學(xué)》2014年碩士論文

【摘要】：套期保值是規(guī)避市場價(jià)格波動(dòng)風(fēng)險(xiǎn)的工具之一,在發(fā)達(dá)國家利用期貨開展套期保值進(jìn)行風(fēng)險(xiǎn)管理,早已備受企業(yè)重視并得到有效利用,成為企業(yè)穩(wěn)定發(fā)展的重要手段。在我國套期保值是一項(xiàng)蓬勃發(fā)展的新事物,雖然一些企業(yè)開始利用期貨市場進(jìn)行風(fēng)險(xiǎn)對(duì)沖并取得了一定效果,但是相當(dāng)一部分企業(yè)對(duì)套期保值的認(rèn)識(shí)還存在偏頗,操作技術(shù)上尚不成熟,這些短板都導(dǎo)致了在實(shí)踐過程中有時(shí)通過套期保值不但沒有規(guī)避風(fēng)險(xiǎn),反而發(fā)生了不應(yīng)有的損失。 鋼材是世界第一大金屬材料,其價(jià)格變動(dòng)性較大,無論是鋼材生產(chǎn)企業(yè)還是鋼材需求企業(yè)和行業(yè)都面臨著巨大的價(jià)格風(fēng)險(xiǎn),我國是最大的鋼材生產(chǎn)國和消費(fèi)國,如何有效利用套期保值對(duì)沖現(xiàn)貨市場上的價(jià)格波動(dòng)風(fēng)險(xiǎn)是一項(xiàng)重要課題。 本文選取了J鋼鐵公司中所采用的套期保值策略進(jìn)行研究,根據(jù)風(fēng)險(xiǎn)管理的理論以及套期保值管理的理論基礎(chǔ),進(jìn)而運(yùn)用案例分析法、因素分析法、比較分析法、實(shí)地調(diào)研法等多種研究方法進(jìn)行分析,總結(jié)了J鋼鐵公司套期保值業(yè)務(wù)現(xiàn)狀與問題,進(jìn)而探討了問題根源與解決思路,最后設(shè)計(jì)了J鋼鐵公司套期保值策略。 隨著我國期貨市場的蓬勃發(fā)展,套期保值必將成為助力我國企業(yè)增強(qiáng)核心競爭力的重要工具,而具備明確的套期保值目標(biāo)、有效的制度保證、合理的組織結(jié)構(gòu)、切實(shí)可行的套期保值運(yùn)作方案等特點(diǎn)的科學(xué)務(wù)實(shí)的新型套期保值將成為今后企業(yè)參與期貨市場進(jìn)行套期保值的主流。
[Abstract]:Hedging is one of the tools to avoid the risk of market price fluctuation. In developed countries, hedging is used to carry out risk management, which has been attached great importance to and effectively utilized by enterprises. Hedging is a booming new thing in our country, although some enterprises begin to use the futures market to hedge risks and have achieved certain results. However, quite a number of enterprises still have a biased understanding of hedging, and the operation technology is not yet mature. These shortcuts have resulted in not only not avoiding risks, but also undeserved losses in the course of practice. Steel is the largest metal material in the world, and its price change is great. Both steel production enterprises and steel demand enterprises and industries are facing huge price risks. China is the largest producer and consumer of steel products. How to effectively use hedging to hedge the risk of price fluctuation in the spot market is an important subject. According to the theory of risk management and the theoretical basis of hedging management, this paper selects the hedge strategy adopted in J Iron and Steel Company, and then uses case analysis, factor analysis and comparative analysis. This paper analyzes various research methods such as field investigation, summarizes the current situation and problems of hedging business in J Iron and Steel Company, and then discusses the root causes and solutions of the problems, and finally designs the hedging strategy of J Iron and Steel Company. With the vigorous development of China's futures market, hedging will become an important tool to help Chinese enterprises to enhance their core competitiveness. The scientific and practical new hedging, which is characterized by feasible hedging operation scheme, will become the mainstream for enterprises to take part in the futures market in the future.
【學(xué)位授予單位】：山東大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F426.31;F406.7

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本文編號(hào)：1690028