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英国信息管理作业 development in information technology and financial markets

背景：

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关键词：information technology financial markets 英国论文 硕士课程论文

development in information technology and financial markets

Table of Contents
1. Introduction: 3
1.1 Motivation 3
1.2 Objectives 4
1.2 Research structure 5
1.3 Period and source of data 6
2. Literature Review: 6
3. Methodology 8
3.1 Hedging strategies 8
3.2 Methods for testing hedging strategies 10
4. Time and Cost 11
References: 13

1. Introduction:
1.1 Motivation
With the development in information technology and financial markets, international trading has become popular nowadays, and hence, when traders pay or receive money for goods from clients in other countries, some transaction risks will happen, such as default risk and the risk of volatility in currency value. The former can be avoided by making a license of credit, as to the latter, this is hard to forecast, and this usually happens with a country’s credit risk and the risk from demands in a market. The risk is called as foreign exchange risk.

The employment of a hedging strategy could minimize the risk of foreign exchange, and some corporations might gain by the use of these strategies. However, the enterprises in Taiwan are small or medium size, which leads to some problems, such as not enough capital. As a result, this makes them ignore the foreign exchange risk. The problem lies in the economic structure, and we should have insight into these problems. However, enterprises are established to make money, and besides lower price, corporations are devoted to reducing costs and losses.

Furthermore, after the financial markets opened and with increasing globalization, the enterprises, which heavily depend on international trading, are influenced mostly by the internationally financial crisis, especially the recent credit crunch. Enterprises should notice any events and analyze the foreign exchange, otherwise, companies may have losses occurred by the variation in the rate of foreign exchange. Therefore, exports and imports should establish the concept of hedging the losses from the kind of risk. Corporations could employ variety of hedging tools and strategies to avoid themselves exposing to the uncertainty environment. 
In a word, the management of foreign exchange is a most important skill. In addition, many enterprises are not familiar with it. Therefore, this research is expected to give some recommendations to those who need helps in hedging this kind of risk.  

References:

Andrea B., Andrea L. and Stavros A. (2004) ‘Scenario modeling for selective hedging strategies’, Journal of Economic Dynamics & control, 28, pp. 955-974

Brealey R.A., Kaplanis E.C. (1995) ‘Discrete exchange rate hedging strategies’, The Journal of Banking & finance, 19.

Enderington L.H. (1979) www.51lunwen.com‘The Hedging Performance of the New Futures Markets’, Journal of Finance, 34, 本论文由无忧论文网www.51lunwen.com整理提供

  
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