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| 论文编号： | 7778 | |
| 作者编号： | 2120132682 | |
| 上传时间： | 2015/12/5 20:00:05 | |
| 中文题目： | 农贸加工企业运用期货工具的研究 | |
| 英文题目： | Research on the Use of Futures Tools for Agricultural Enterprises | |
| 指导老师： | 齐岳 | |
| 中文关键字： | 农贸加工企业；期货工具；风险敞口；投机 | |
| 英文关键字： | agricultural；enterprises；futures tool；risk exposure；speculate | |
| 中文摘要： | 目前，我国国内农产品产业链的贸易行为方式正发生深刻的变化，一般现货贸易从传统的一口价合同模式，开始大量转入基差点价合同的方式进行，农贸加工企业开始不得不直接面对期货市场进行。同时各种传统的期货交易对冲工具，在市场内的运用方兴未艾；而在新的经济形势和行业变化下，这些工具的实践运用又出了很多新的问题。如何更好的利用这些期货工具，成为摆在相关涉农企业面前的主要课题。本文从国内油脂油料和商品谷物相关品种所关联的行业领域的现实需要出发，通过对各类期货市场理论和市场经济与行业现状的阐述，围绕企业的期现净头寸风险敞口的处理、对基差点价合同的操作、以及期现套利等方面，进行了适应市场客观现实状况的研究分析和风险提示，并给出各种期货工具相对应的改良和处理建议。本文进一步提出，需要承认期货对冲交易本质都属于投机交易，需要结合一般市场交易管理的基本规律，去处理套期保值等期现结合操作的交易管理，以最大化实现企业参与期货市场所实现的效益。 | |
| 英文摘要： | At present, the trade behaviors of China's domestic agricultural industry chain is undergoing profound changes, the general spot trade is changing from the traditional fixed price contract to forward contract, agricultural enterprises began to directly face the futures market. At the same time, the use of a variety of traditional futures hedging tools is in the ascendant; and in the new economic situation and industry changes, the use of these hedging tools had many new problems. How to use of these futures tools better, become the main subject in front of agriculture related enterprises. Based on the practical need of industries aboat the oils, oilseeds and grains ,with the elaboration of many kinds of the theories aboat the futures and the market economy and the status of the industry,around the process of the risk exposure, the operation of the forward contract,the Cross-time arbitraging and other aspects, there are objective reality of research analysis and risk warning, and given various improvement and recommendations corresponding to these futures tools. In this paper, it is important to recognize that all of futures hedging transactions are speculative transactions, they need to combine the basic rules of the general market transactions, to deal with the current combination of hedging and trading management, to maximize the benefits of the enterprise which participates in the futures market. | |
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