现金流量套期保值与企业价值研究

Study on Cash Flow Hedging Strategy and Firm Value

阐述了近年来新兴的风险管理工具——现金流量套期保值的概念,并建立理论模型解释了这一工具与企业价值的关系,证明了在合理的假设条件下现金流量套期保值对企业价值的提升是有益的.最后对该理论在我国的实际应用提出了相应的建议.

This paper clarified the conception of cash flow hedging, a new risk management tool. The (paper) also built the theory model and explained the relationship between the tool and firm value, and proved that cash flow hedging is beneficial to improving firm value under the condition of reasonable hypothesis. Some suggestions on the application in China were put forward.