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ID:8426258
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页数:2页
时间:2018-03-27
《effect of exchange rate uncertainty on investments(上)》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、___________________________________________________________________________________________EffectofExchangeRateUncertaintyonInvestments(上) Abstract Inthispaperanoptionpricingmodelisusedtoexploretherelationshipbetweenexchangerateuncertaintyandinvestmentsoffirms.Assumingtheinvestmentisirre
2、versible,theoptiontowaitapproachwasdevelopedbyDixit(1989,1992),Krugman(1989),andPindyck(1991).Inthismodelthevalueofwaitingisconsideredasvalueofanoptiontowaitandthefirmcandelaytheinvestmenttowaitforfurtherinformationaboutexchangerate,outputpriceandmacroeconomicvariables.Usingtheexchangerat
3、evolatilityastheproxyforexchangerateuncertainty,weextendtheoptionmodeltoanalyzetheeffectofexchangerateuncertaintyoninvestmentsinthecasesofexportsandimportsfirmsandfindoutthatanincreaseintheexchangeratevolatilitydecreasesinvestmentsregardlessofexportsorimportsfirms. 点击查看全文其他参考文献:1.赵慧芝.加
4、强高校科研经费管理的几点思考[J].现代经济信息,2010(12). 2.付林,李冬叶.高校科研经费的使用监管机制[J].黑龙江高教研究,2009(11). 3.江轶.高校科研经费管理若干问题探析[J].福建财会管理干部学院学报,2010(4). 4.李红宇.高校科研经费管理有效性探究[J].财会通讯·综合(中),2009(1). 2_________________________________________________________________________________________________________________________
5、____________________________________________________________5.石勉.对高校科研经费管理和审计的探讨[J].经济师,2010(10). 6.林大静.构建高校科研经费内部审计机制的思考[J].审计月刊,2009(6).2__________________________________________________________________________________________
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