外汇风险暴露

在当前我国企业外汇风险暴露研究中，使用资本市场法的研究占据了绝对主流的地位。

In the current research about our country enterprise foreign exchange risk exposure , Augmented Market Model occupies the mainstream position .

研究表明，外汇风险暴露与外销比例、速动比例和现金流量净额正相关，与总市值、净利率负相关。

The empirical results show that : foreign exchange risk exposure has positive correlation with export ratio , quick ratio , net cash flow of operating activities , and negative correlation with total market value , net profit margin .

中国上市公司外汇风险暴露问题研究

A Research on the Foreign Exchange Exposure of Chinese Listed Companies

然后列举出三种度量外汇风险暴露的主要方法：敏感性分析法、现金流分析法和公司市场价值方法。

Thirdly , it introduces three methods used by scholars to measure exchange risk exposure : sensitivity method , case flow method , and market value method .

将显著的外汇风险暴露系数作为因变量，将各个影响因素指标作为自变量进行横截面回归，采用逐步回归法，建立确定影响因素的最优模型。

We conduct cross-sectional regression by taking significant foreign exchange risk exposure coefficients as dependent variable , and the various influencing factors as independent variables , to establish the optimal model and determine the influencing factors by stepwise regression method .

国际参与度大的企业面临更大的外汇风险暴露；规模大的企业面临更小的外汇风险暴露；企业财务管理能力高会遭受更大的外汇风险暴露。

Those enterprises with international trades , are facing greater foreign exchange risk exposure ; large scale enterprises are facing the smaller foreign exchange risk exposure ; enterprise which have higher financial management ability will suffer greater foreign exchange risk exposure .

因此，可以证明基于策略性资源观点所撷取的八项研究变量以及所建构的多元线性回归实证模型，对于中国跨国企业的外汇风险暴露程度具有显著的影响效果并有直接的解释能力。

Therefore , it can be proved that ten study variables and constructive diverse linear return demonstration model taken based on structural capital perspective have apparent affects on the foreign exchange rate exposure extent of the Chinese transnational firms and direct explanation capacity .

在汇改后，中国企业的外汇风险暴露经历了怎样的变化，这是一个极具现实意义的重要问题，然而目前却只有少数国内学者对此进行过相关研究。

What are the changes of the foreign exchange risk exposure of Chinese companies caused by the reform ? This is an important question . However , only a few scholars have done some research on this topic . Firstly , this paper defines foreign exchange exposure .

第三章：外汇经济风险暴露的管理第三章主要讨论了外汇经济风险暴露的两类管理方法：运营策略和金融策略。

Chapter three discusses two policies to manage economic exposure : operating policies and financing policies .

本文仍然由易到难，首先估计了公司所面临的单个货币的外汇经济风险暴露；

The least-squares estimation method measures economic exposure by regressing the firm 's value and the exchange rates .

第二章：外汇经济风险暴露的测量第二章讨论了外汇经济风险暴露测量的两种主要方法：敏感性分析法和最小二乘法。

In chapter two we discuss two methods to measure economic exposure : the sensitivity method and the least-squares estimation method .

本文的逻辑框架和主要内容如下：第一章：外汇经济风险暴露概述第一章首先介绍了外汇经济风险暴露和其他两种外汇风险暴露（外汇交易风险暴露、外汇会计风险暴露）的含义。

Firstly , three kinds of foreign exchange exposure are defined in this chapter : transaction exposure , economic exposure and accounting exposure .

上世纪90年代末东南亚地区爆发严重的金融危机，使外汇风险问题暴露无疑，同时也给亚洲各国敲响了警钟。

Problems of foreign exchange risk were exposed entirely during the finance crisis in Southeast Asia area in the late 1990s , which alarmed countries in Asia .

本章对外汇经济风险暴露测量方法的讨论，更加清晰地描述了外汇经济风险暴露的产生过程；

Chapter two not only discusses the methods of the economic exposure measurement , but also makes clear the way that an unexpected change in foreign exchange rate impacting a firm 's value .