碩士 / 世新大學 / 財務金融學研究所(含碩專班) / 97 / After China participated in WTO on 2001, it gradually has opened its financial market and removed its international trading restriction. Nowadays, China plays a more and more important role in the world.
Therefore, the volatile of foreign exchange could be a significant factor for the China’s enterprises. In addition, China begins its revolution of foreign exchange policy since 21 July, 2005. The more deregulation in China’s foreign exchange market; the more foreign exchange risks that the China’s enterprises face with. This thesis attempts to estimate the foreign exchange exposure in China’s listed companies and how it influences the companies’ expected rate of return. 854 listed companies in Shanghai stock exchange are the samples. Daily data is adopted in this thesis and the period is from January 1, 2001 to 2008 June 30.
The empirical result found 793 of 854 listed companies (92.86%) are positive of foreign exchange exposure and 61 of 854 listed companies (7.14%) are negative. The conclusion of this thesis points out the A-shares Companies in China have the foreign exchange exposure and the exposure degree shall affect the expected rate of return of the company’s share price. The China’s stock market shall watch out for the degree of foreign exchange exposure.
| Identifer | oai:union.ndltd.org:TW/097SHU05304045 |
| Date | January 2009 |
| Creators | Ching-Hui Tsai, 蔡靜惠 |
| Contributors | Shu-Hwa Chang, 張淑華 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 73 |
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