论金融衍生工具及其风险防范_金融研究论文_证券金融论文.docVIP

论金融衍生工具及其风险防范_金融研究论文_证券金融论文 论金融衍生工具及其风险防范_金融研究论文_证券金融论文 【摘要】 随着金融市场国际化的加强，市场风险也不断加大，利用金融衍生工具来规避风险的需求越来越强烈，国外金融衍生工具市场已经有相当的广度和深度了，无论从应用的品种上还是范围上，都值得我国去学习。但是，作为重要的投资工具，金融衍生品本身并非风险的源泉，风险来自交易者的运用和管理，但是如果不用适当的方式去转移风险、控制风险，就会使得金融衍生品的风险无限放大。 因此，本文将从金融衍生工具的基本理念着手，结合我国的实际情况，对金融衍生工具风险进行分析，从具体案例中总结其交易过程中的风险形成原因，并对如何才能有效防止风险的产生和风险发生时的规避发表一些建议，不仅从风险本身考虑，而且将分别从内外部监管的角度对我国目前的金融衍生市场提出些许看法，希望能对金融衍生工具在我国的健康发展起到帮助作用。关键词：金融衍生工具，风险管理，金融监管，公司内控机制 Abstract With the globalization of the financial market deepening, the risk of which is getting wider. Meanwhile, the need to avoid those risks by using the derivatives gets stronger. The mature experience of applying all kinds of derivative financial instruments to the financial market deserves study by Chinese interior financial market. As the important investment tool, however, financial derivatives causes boundlessly large risks if they are not managed in proper ways, though they are not the source of risks themselves. This paper will start with some basic concepts to analyze the financial risks of derivative financial instruments and to do some basic research of how to reduce risks by presenting some suggestions both from the inside and the outside perspectives of the companies, to the development of Chinese financial market with discussions of some cases, hoping to help financial derivatives developing healthy in China. Key Words: financial derivatives, risk management, financial supervision, internal control mechanism 目 录 一、序言…………………………………………………………………5 二、文献综述……………………………………………………………5 三、金融衍生工具概述…………………………………………………6 （一）金融衍生工具的含义……………………………………………6 （二）金融衍生工具的基本分类………………………………………7 （三）金融衍生工具的主要功能………………………………………7 四、我国金融衍生工具的发展回顾……………………………………8 （一）外汇期货…………………………………………………………9 （二）国债期货…………………………………………………………9 （三）可转换债券………………………………………………………9 （四）认股权证…………………………………………………………9 （五）股票指数期货……………………………………………………9 五、金融衍生工具的风险防范分析……………………………………10 （一）金融衍生工具的风险特征………………………………………10 （二）金融衍生工具风险的管理………………………………………11 六、金融衍生交易案例分析——“中航油事件”……………………13 （一）“中航油事件”回顾……………………………………