涉外农业企业应对汇率风险的策略选择

Coping Behavior with Exchange Rate Risk of Foreign-related Enterprises:an Survey of 130 Agricultural Firms in China

基于有关文献的梳理,本文提出了一个汇率风险反应行为概念性模型,并通过对130家中国农业企业的调查发现,模型基本刻画了涉外企业应对汇率风险的一般行为模式,运营策略、财务策略、签约策略和贸易融资是涉外农业企业规避汇率风险的主要手段。同时,对农业企业应对汇率风险的效果进行了简要评价,总结了农业企业汇率风险反应行为的特点和趋势。在此基础上,对进一步的研究提出了展望。

Based on literature review, this paper attempts to develop a conceptual model of coping behavior with exchange rate risk. It is found that this model can describe the general behavior pattern of foreign-related enterprises through a survey of 130 agricultural firms in China. Operational strategy, financial strate- gy, contract strategy and trade financing are major means for foreign-related enterprises＇ exchange rate risk hedging. Further more, this paper also tries to evaluate the coping effect and summarizes the behavior characteristics and tendency of agricultural firms. Finally, it proposes the forecast to the further research.