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1、北京化工大学北方学院毕业设计(论文)————外文文献原稿及翻译北京化工大学北方学院NORTHCOLLEGEOFBEIJINGUNIVERSITYOFCHEMICALTECHNOLOGY(2013)届本科生毕业设计(论文)外文文献及翻译姓名:邓奡远专业:国际经济与贸易班级:国贸0906学号:毕业设计(论文)题目:贵州轮胎进出口公司外汇风险管理指导教师:荣华英2013年5月21日北京化工大学北方学院毕业设计(论文)————外文文献原稿及翻译原稿IntroductionThetermforeignexchanger
2、iskmanagementiscommonlyusedamongmultinationals.Nonetheless,thereisnouniformlyaccepteddefinitionofexchangerateriskmanagement.Severalauthors(e.g.Cook,1993;Baldoni,1998;RahardjoandDowling,1998;ChiuandFoerster,1997;Ankrom,1974)haveprovideddefinitionsofforeignex
3、changeriskmanagement.AmongthefirstauthorswhodefinedforeignexchangeorcurrencyriskwasAnkrom(1974).Heclassifiedforeignexchangeexposuresintotranslation,transactionandeconomicexposures.Translationexposureistheaccountant'srecordofprofitandlossintranslatingbalance
4、sheetaccountsintothehomecurrency.Transactionexposureistheforeignexchangeexposureassociatedwithsalesortransactionsthathaveakeadybeenmade.Amultinationalisexposedtotransactionexposureifitsellsproductswherepaymentisgoingtobemadeatsomefuturedate.Lastly,economice
5、xposureisthecombinationoftranslationandtransactionexposures.Ankrom(1974)arguedthateconomicexposureisacomprehensivemeasureforthecompany'sforeignexchangeexposures.However,economicexposureisusuallyverycomplexasitinvolvesnotonlyknowncashfiowsbutalsounknownfutur
6、ecashfiows(Glaum,1990;BelkandGlaum,1990).Motivatedbythefactthatforeigncurrencyriskbecomesmoreandmoreimportantinthelightoftheglobalisationandinternationalisation,thisstudywasconductedinordertogaininsightintothemanagementofforeigncurrencyriskbyJordanianfirms.
7、Inaddition,itexaminedtheimpactoffirm-specificcharacteristicsandtheirrelationshipwiththemanagerialtechniquesusedtofacethatriskwithrespecttotwodimensions:transactionandeconomicexposures.Thespecificfactorsofafirm北京化工大学北方学院毕业设计(论文)————外文文献原稿及翻译includedsize,sect
8、or,legalstructure,andinternationalinvolvement.TheresultsofthequestionnairegiveanideaaboutJordan’seconomicenvironmentintermsofcomprehension,exposure,andmanagementofforeigncurrencyrisk.Evidencefromtheana