期刊文献+

现金流量套期保值与企业价值研究 预览 被引量:2

Study on Cash Flow Hedging Strategy and Firm Value
在线阅读 下载PDF
分享 导出
摘要 阐述了近年来新兴的风险管理工具--现金流量套期保值的概念,并建立理论模型解释了这一工具与企业价值的关系,证明了在合理的假设条件下现金流量套期保值对企业价值的提升是有益的.最后对该理论在我国的实际应用提出了相应的建议. This paper clarified the conception of cash flow hedging, a new risk management tool. The (paper) also built the theory model and explained the relationship between the tool and firm value, and proved that cash flow hedging is beneficial to improving firm value under the condition of reasonable hypothesis. Some suggestions on the application in China were put forward.
作者 姜秀珍 全林 JIANG Xiu-zhen~1,(QUAN) Lin~2 (Business School, Shanghai Inst. of Foreign Trade, Shanghai 200062, China; 2. School of International and Public Affairs, Shanghai Jiaotong Univ., Shanghai 200030)
出处 《上海交通大学学报》 EI CAS 北大核心 2005年第3期 471-473,478,共4页 Journal of Shanghai Jiaotong University
关键词 风险管理 现金流量套期保值 企业价值 理论模型 risk management cash flow hedging firm value theory model
  • 相关文献

参考文献6

  • 1赵艳芳.现金流量的管理说和信息说的比较分析[J].财经研究,1998(1):26-30. 被引量:4
  • 2泽昭人 滨本明 冯芳译.现金流量[M].北京:中信出版社,2001.. 被引量:3
  • 3Allayannis G S, Mozumdar A. Cash flow, investment, and hedging[DB/DL]. http://www. ssrn. eom/so13/results. cfm 被引量:1
  • 4Tufano P. Agency cost of corporate risk management [J]. Financial Management, Spring, 1998,27 (1): 67-77. 被引量:1
  • 5Froot K A, Scharfstein D S, Stein J C. Risk management:coordinating corporate investment and financing policies [DB/OL ]. http ://www. ssrn. com/so13/results. cfm 被引量:1
  • 6Chacko G, Tufano P, Verter G. Gephalon, inc taking risk managenent theory seriously [DB/OL]. http://www. ssrn. com/so13/results. cfm 被引量:1

共引文献5

同被引文献39

  • 1邓莉,张宗益,李宏胜.银行债权的公司治理效应研究——来自中国上市公司的经验证据[J].金融研究,2007(01A):61-70. 被引量:53
  • 2陈忠阳,赵阳.衍生产品、风险对冲与公司价值——一个理论综述[J].管理世界,2007(11):139-149. 被引量:19
  • 3Carter, D.A.,Rogers,D.A., and Simkins, B.J. Simkins. Does Fuel Hedging Make Economic Sense [M]. The Case of the US Airline Industry, 2003. 被引量:1
  • 4Bartram, S. M., Brown,G. W., and Conrad,J. The Effects of Derivatives on Firm Risk and Value[J]. Journal of Financial and Quantitative Analysis, 2011,46(4) :967-999. 被引量:1
  • 5Guay, W., and Kothari, S.P., How Much Do Firms Hedge with Derivatives[J]. Journal of Financial Economics, 2003,70 (3) : 423 -461. 被引量:1
  • 6Jin, Y., and Jorion,P. Firm Value and Hedging: Evidence from U.S. Oil and Gas Producers [J]. Journal of Finance, 2006,61(2):893-919. 被引量:1
  • 7Haushalter, G.D. Financing Policy, Basis Risk, and Corporate Hedging: Evidence from Oil and Gas Producers [J]. Journal of Finance, 2000,55 (1) : 107-152. 被引量:1
  • 8Smith,C.W., and Stulz, R.M. The Determinants of Firms Hedging Policies [J]. Journal of Financial and Quantitative Analysis, 1985, (28) :391-405. 被引量:1
  • 9Mayers, D., and Smith,C. W. On the Corporate Demand for Insurance [J]. Journal of Business, 1982,55(2): 281-296. 被引量:1
  • 10Aretz, K., Dufey, G., Bartram, S.M. Why Hedge? Rationales for Corporate Hedging and Value Implications [J]. Journal of Risk Finance, 2007,8 (5) :434-449. 被引量:1

引证文献2

二级引证文献13

相关作者

内容加载中请稍等...

相关机构

内容加载中请稍等...

相关主题

内容加载中请稍等...

浏览历史

内容加载中请稍等...
;
使用帮助 返回顶部 意见反馈