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论文编号：	5265
作者编号：	2220110282
上传时间：	2013/6/5 21:12:21
中文题目：	跨国公司外汇风险管理研究——以摩托罗拉公司为例
英文题目：	Multinational Company Foreign Exchange Risk Management
指导老师：	陆宇建
中文关键字：	跨国公司,外汇风险,风险管理
英文关键字：	multinationals corporation,foreign exchange exposure,risk management
中文摘要：	随着经济全球化的发展，中国市场经济也走上了国际化的道路，参与海外经营的企业数量和规模不断扩大。但是从2008年开始，国内跨国企业不得不开始面对人民币的大幅升值，美元的持续疲软，欧元市场的震荡不安，同时还有国内不断上涨的物价及人力成本。回顾这段世界经济环境的转变，使我们感受到国际市场的变化莫测，同时也让我们认识到外汇风险管理的重要性和必要性。对于外汇风险管理，它不仅仅是跨国公司财务风险管理的一个方面，更是贯穿跨国公司的投、融资管理、营运管理和税务管理的各个环节，并且直接体现了跨国公司的全球战略政策，通过对集团内部经营资源的调整和各种外部避规风险工具的使用，实现企业的稳定发展。具体地方法有，改变订单销售价格、改变计量货币、调整资产负债结构、调整收付货款时间等，以及远期外汇交易、外汇期货交易和对冲外汇期权等等。本文首先对汇率的概念、汇率浮动的成因和外汇风险的三种基本类型进行了阐述，然后进一步表明外汇风险管理对跨国公司的重要意义，证明外汇风险管理不仅仅是跨国公司财务管理的一个基本层面，更是贯穿于整个公司的投、融资，营运资金管理和税收筹划中的各个环节。通过对我国跨国公司外汇风险管理现状的分析，发现其主要表现为我国跨国公司管理人员外汇风险管理意识淡漠，缺乏先进的外汇风险管理的技术。因此，本文以摩托罗拉公司的汇风险管理作为案例，对摩托罗拉是如何控制和管理外汇风险，以及如何运用先进的管理方法来规避外汇风险进行了具体分析。最后，为我国的跨国公司外汇风险管理提出一些建议，希望可以提高我国涉外经营中的竞争力，保证企业的稳定发展。
英文摘要：	With the development of economic globalization, China's market economy has embarked on the road of internationalization, the number of companies involved in overseas operations and expanding. But starting in 2008, the domestic multinationals have begun to face the sharp appreciation of the RMB, the dollar's continued weakness in the euro market volatility anxiety, as well as rising domestic prices and labor costs. Review this world economic environment changes, so that we feel the vagaries of the international market, but also allows us to recognize the importance of managing foreign exchange risk and necessity. For foreign exchange risk management, it is not just a multinational aspects of financial risk management, it is through multinational investment and financing management, operations management, and all aspects of tax administration, and directly reflects the multinational's global strategic policy, through on the Group's internal management adjustments and a variety of external resources to avoid compliance risk tools used to achieve stable development of enterprises. Specifically, methods, change order sales prices, changes in measurement currency, adjust the asset liability structure adjustment refers to the payment time, etc., as well as forward foreign exchange transactions, currency futures and currency options to hedge more. Firstly, the concept of the exchange rate, exchange rate fluctuations and foreign exchange risk causes are three basic types are described, and further indicates that foreign exchange risk management is important for multinational companies to prove that foreign exchange risk management is not just a basic financial management of multinational level, but also throughout the company's investment and financing, working capital management, and tax planning in all aspects. Through our multinational foreign exchange risk management analysis of the status and found that it mainly for multinational management of foreign exchange risk management sense of apathy, lack of advanced foreign exchange risk management techniques. Therefore, Motorola exchange risk management as a case, Motorola is how to control foreign exchange risk, and how to use advanced management methods to avoid foreign exchange risks analyzed in detail. Finally, make some suggestions for Chinese multinationals about foreign exchange risk management, hoping to improve China's competitiveness in foreign operations, to ensure stable development of enterprises.
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