公司套期保值的决定因素——基于有色金属行业的经验研究
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引用本文:戴致光.公司套期保值的决定因素——基于有色金属行业的经验研究[J].财经理论与实践,2013,(1):43-46
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作者单位
戴致光 (1.东北财经大学 会计学院 ,辽宁 大连1160002.东北财经大学 津桥商学院,辽宁 大连116000) 
中文摘要:利用公司披露的数据,发现了样本公司套期保值决策与财务困境成本和流动性需求的高度相关性,同时也发现了与理论预期相反的证据,对于我国有色金属上市公司来说,协调投融资的工具并不是套期保值,而是其它;管理者持股激励机制有可能并未起到应有的作用。
中文关键词:套期保值  有色金属行业  决定因素
 
Hedging Decision Factors: Based on the Empirical Study of Nonferrous Metal Industry
Abstract:Using the data released by the company, the high correlation is found among the sample company hedging decision, financial distress costs and liquidity demand, which is in contrast to the theory expected. The results suggest that, to the listed companies in the industry of the non-ferrous metal in China, the coordination tools between investment and financing are not hedging but the other factors, Managers shareholding incentive mechanism may not be effective.
keywords:Hedging  Non-ferrous metal  Determinants
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