金融期权在纺织外贸企业国有资本保值增值中的应用——以对冲系统性风险为目的

Application of financial options in maintaining and increasing the value of state-owned capital of textile and foreign trade enterprises:for the purpose of hedging systematic risk

在“双循环”背景下,实体经济的自立自强需要一个完善的多层次资本市场提供必要的金融服务,尤其是风险管理。全球金融体系深度融合、近年来“黑天鹅”事件的频发及其造成的严重后果凸显了防范系统性风险的重要性。文章主要探讨金融期权在纺织外贸企业国有资本保值增值中的应用,认为金融期权是国有资本保值增值的有力工具;国内交易所期权市场仍不够完善,广度和深度有待提高,以提高风险管理的效率,降低对冲的成本。

Under the background of“double circle”,the self-reliance of the real economy requires a sound multi-level capital market to provide necessary financial services,especially risk management.The deep integration of the global financial system,the frequent occurrence of the“Black Swan”incident and its serious consequences in recent years also highlight the importance of preventing systemic risks.This paper mainly discusses the application of financial options in maintaining and increasing the value of state-owned capital in textile and foreign trade enterprises,and considers that the financial option is a powerful tool to maintain and increase the value of state-owned capital;the domestic exchange option market is still not perfect,and the breadth and depth need to be increased to improve the efficiency of risk management and reduce the cost of hedging.