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论文编号：	1053
作者编号：	042185
上传时间：	2009/6/5 14:46:13
中文题目：	企业风险管理与绩效管理研究
英文题目：	Enterprise risk asset quantifi
指导老师：	李姝
中文关键字：	风险资产；风险资产量化；绩效管
英文关键字：	Risk asset; Risk asset quantif
中文摘要：	风险是由于未来的不确定性引起的收益变动的可能性。风险自古就有，只不过随着世界经济的发展，这种不确定性变得比过去任何时代都更加剧烈。风险管理是一个能增加企业盈利性并降低收益波动性的战略工具，如何科学管理风险是当今现代企业管理中的重要课题。 为了科学地管理风险，风险的量化理论得到长足的发展，风险量化管理也得到了越来越广泛地应用。但是，目前大部分企业的风险管理中普遍存在两个问题，第一是量化还局限于个别单一资产风险的量化，很少有企业站在企业全面风险管理的角度对企业可能面临的风险进行量化并实施有效的管理；第二是没能将风险成本融入到企业日常的管理当中，在绩效管理中忽视风险的存在，直接影响企业决策的可靠性。 在企业风险资产量化及应用方面，国外的一些企业已经做出了很多成功的实践，相比较而言，中国尽管在信用风险评级模型，市场风险量化模型等风险量化领域也有很深入的研究，但是在如何全面地量化风险并通过风险的量化来实现企业绩效提高方面，无论从理论还是实践方面来看，同国外的研究和实践相比似乎还很不够，应该给与更多的关注和投入。 在本文中介绍了风险资产量化的基本理论，并以VaR法为基础，介绍了企业各种风险资产的可能的量化方法。同时，论述了如何从风险资产总量控制和新的绩效指标-风险收益率的使用这两个方面来提高企业的绩效管理水平。文章的最后，以一个企业的风险量化管理的实绩为例，介绍了该企业的风险资产量化方法，以及该企业如何利用风险量化的结果来开展企业绩效管理活动。
英文摘要：	Risk is a possibility of income’s change due to the uncertainty in future. It exists since ancient times but become more and more uncertain as nowadays development of economy. We need a tool to increase the profibility and decrease the undulatory property of income, and risk management is the just tool. How to manage risk properly is an important subject for the nowadays enterprise. As one of the risk management achievement, the theory of risk quantification developed a lot, and the risk quantification management is extensively used. But there are two problems in most enterprise’s risk management. First, they do quantize the risk they are facing or maybe face, but just quantize part of the risk asset, not the whole. They can not figure out all the risk and therefore quantize and manage them. The second problem is that they do not take risk asset into their everyday management. They ignore risk in their performance management, which have direct effect to the reliability of their decision about the enterprise. In the area of risk asset quantification and application, some oversea enterprises have made out much successful result. Comparatively, we do have make deep research in risk quantification like credit risk rating model, market risk quantitative model, etc, but we are still lack of the knowledge on full-scale risk quantification and improve performance through risk quantification. It need us pay more attention and devotion to the risk quantification research and practice. In this article I introduced the basic theory and some viable quantization solution of risk asset based on VaR law. Meanwhile, I discussed how to improve the level of performance management through total risk asset control and performance indicator-the usage of yield risk. At the end, I made an example of one enterprise. I introduced the enterprise’s way of quantizing risk asset, and how to extend the result to performance management.
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