Earticle

초록

영어

This study is also associated with corporate performance and exchange rate volatility, and the objective lies onanalyzing field case studies on currency risk management targeting the representative companies by industrieswith high external transaction ratio. Actual cases of currency risk management on the representative companies by business types such asautomotives, heavy industries, shipbuilding and oil refinery predicting considerable correlation between theexchange rate volatility and the corporate performance due to high proportion of foreign transaction have beenanalyzed by trend during the IMF crisis until now on foreign currency transaction type, currency risk hedgeproducts, foreign currency asset management and procurement. Firstly, repeated deterioration of profitability was shown in the corporate foreign currency asset procurement andmanagement by mostly relying on external market conditions with post-procurement and management system. Secondly, companies have been poor systematic approach in performing foreign exchange risk management fora long period of time. Ratio of the amount of average foreign currency translation loss relative to current netincome showed 16% including the currency rate rising period, the IMF period and the global credit crisis, and inparticular, it showed 41.3% for the oil refinery business, 17% for the shipbuilding business respectively. Thirdly, the derivatives transactions for currency risk hedges were analyzed to be mostly for the purpose ofavoiding risk hedges related to cash flow and price fluctuation on imported raw materials, and the averageprofit and loss due to derivatives transactions showed 2.7 billion with the ratio of 1.0% level relative to thecurrent net income. Fourthly, in the analysis result for profit contribution due to foreign currency transaction of currency hedgepurpose the average corporate foreign exchange gains showed 93.3 billion net loss with the ratio of average 12%level relative to the current net income.

목차

Abstract
 Ⅰ. 서론
 Ⅱ. 선행연구
 Ⅲ. 산업별 환위험 관리 연구
 Ⅳ. 산업별 외화자산 운용구조 및 수익기여도 분석
 Ⅴ. 결론 및 시사점
 참고문헌

키워드

저자

• 이창민 [ Chang-Min Lee | 한양대학교 경영학과 교수 ] 교신저자
• 강형구 [ Hyoung-Ku Kang | 한양대학교 경영학과 교수 ] 공동저자
• 김동균 [ Dong-Gyun Kim | 한양대학교 경영학과 박사 ] 제1저자

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  무역통상학회지 [Journal of Korea Research Association of International Commerce]

• 간기

  격월간

• pISSN

  1738-4354

• 수록기간

  2001~2025

• 등재여부

  KCI 등재

• 십진분류

  KDC 326 DDC 380