| 基于现金流量法的企业外汇风险暴露度量研究 |
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| 引用本文： | 谢赤,丁晖,王雅瑜.基于现金流量法的企业外汇风险暴露度量研究[J].湖南师范大学社会科学学报,2008,37(2):97-100. |
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| 作者姓名： | 谢赤 丁晖 王雅瑜 |
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| 作者单位： | 湖南大学,工商管理学院,湖南,长沙,410082 |
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| 基金项目： | 国家社会科学基金资助项目(07AJL005)和全国高校青年教师奖励基金资助项目(教人司2002[123]) |
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| 摘 要： | 随着中国企业国际化程度的提高,由汇率波动所带来的企业价值变化的外汇风险将越来越大。因此,如何准确而简约地衡量企业外汇风险是一个亟待解决的问题。从这个角度出发,通过实证研究发现现金流量法能较好地度量中国企业的外汇风险暴露。
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| 关 键 词： | 外汇风险 外汇风险暴露 现金流量法 资本市场法 企业价值 |
| 文章编号： | 1000-2529(2008)02-0097-04 |
| 修稿时间： | 2007年12月12 |
The Research on Foreign Exchange Exposure Measurement Based on Cash Flow Approach |
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| XIE Chi,DING Hui,WANG Ya-yu.The Research on Foreign Exchange Exposure Measurement Based on Cash Flow Approach[J].Journal of Social Science of Hunan Normal University,2008,37(2):97-100. |
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| Authors: | XIE Chi DING Hui WANG Ya-yu |
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| Abstract: | Along with further deepening of China's opening up,the globalization of enterprise has become much more highly and as the RMB exchange rate is no longer pegged to US dollar singly but starts to be adjusted with reference to a basket of currencies,the exchange risk which causes the change of value of enterprises brought by the exchange rate fluctuation will enlarge.Thus,how to measure the exchange risk becomes a crucial problem for our country enterprises.From this perspective,the article confirms the cash flow approach will be able to measure the foreign exchange exposure well for enterprises in our country through empirical study. |
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| Keywords: | exchange risk foreign exchange exposure cash flow approach capital market approach value of enterprises |
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