我国上市公司衍生金融工具交易调查——基于2007-2012的数据  

Financial Derivative Usage Survey in Chinese Listed Companies from 2007 to 2012

作　　者：程玲莎[1] 

机构地区：[1]宁波大学商学院,浙江宁波315211

出　　处：《宁波大学学报（人文科学版）》2015年第3期69-73,121,共6页Journal of Ningbo University：Liberal Arts Edition

基　　金：浙江省教育厅项目(Y201430943);宁波市软科学项目(2013A10020);宁波大学人文社科预研项目(XYY11006)

摘　　要：基于2007-2012年非金融上市公司数据,分别从企业分布、交易类型和合约类型、交易动机和目的等方面对衍生金融工具交易进行调查和分析。研究发现:衍生金融工具利用率逐年提高,约70%的使用企业分布于制造业,行业差异很大;外汇类是最常使用的交易类型,其次为商品类、利率类和股权类,且利率类和外汇类衍生金融工具交易发展最为迅速;合约类型单一,主要为外汇远期和商品期货,且在各交易类型中的分布很不均衡。应完善我国上市公司的衍生金融工具市场基础设施建设,推动衍生金融工具的金融创新,加强风险管理意识,培养国际化衍生金融工具人才。Based on the data of the non-financial listed companies in 2007-2012, the paper makes an analysis of the company distribution, types of transactions and contracts, motivation and purposes of derivatives transactions. The main conclusions are as follows. First, more and more financial derivatives are used in risk management. 70% of the companies using non-financial derivatives are manufacturing industries. Second foreign exchange derivatives are the most commonly used, followed by commodities derivatives and interest rates derivatives and so on. Third, the types of derivative contracts are mainly foreign exchange forwards and commodity futures, which are unevenly distributed. At last, the paper puts forward the suggestions for the improvement of derivatives market.

关 键 词：衍生金融工具 期货 期权 风险管理 

分 类 号：F276.6[经济管理—企业管理]