Research On Foreign Exchange Risk Management Of Listed Companies

With the rapid development of China's economy,more and more enterprises are engaged in foreign trade business.For enterprises with foreign exchange income,the fluctuation of exchange rate has a great impact on the assets,liabilities,income and profits of foreign trade enterprises,especially for the tourism industry with outbound tourism business,exchange rate has a greater impact on corporate profits.At the same time,in the international market,sino-us trade frictions and disputes continue.Due to the US President trump's administration,he proposed to impose tariffs on China,which increased China's tax pressure.When some enterprises use foreign exchange hedging tools to avoid foreign exchange risks,due to the problem of methods,they fail to achieve the desired results,and Chinese tourism companies generally suffer large foreign exchange losses.Therefore,it is of great significance to study the hedging of foreign exchange.With the standard research method,this paper analyzes the hedging cases of caissa touristic in foreign exchange risk management,so that people can have a deeper understanding of the impact of exchange rate fluctuations on the foreign exchange market.In order to effectively avoid risks in the foreign exchange market,caissa touristic has carried out foreign exchange hedging business for three consecutive years in 2016,2017 and 2018.In 2017,the fluctuation of the central parity rate of us dollar and RMB decreased,and Caesar travel's foreign exchange hedging project changed from profit in 2016 to loss,and the hedging was facing serious problems.The study found that there are three main problems in the foreign exchange risk management of caesars travel company,including imperfect foreign exchange risk warning measures,insufficient hedge investment funds to fully cover the foreign exchange risk exposure,and insufficient use of hedging tools to effectively hedge foreign exchange risk.According to the Kaiser travel company,foreign exchange risk management problems,we can according to improve foreign exchange hedging performance of listed companies put forward the corresponding countermeasures and Suggestions,through the adoption of a variety of methods to reduce foreign exchange exposures,to avoid loss of one-way exchange rate fluctuations,establish and perfect rules and regulations of corporate hedging tools such as way to effectively avoid foreign exchange risk.The research shows that caissa touristic has certain effect in the process of hedging business,but it still needs to do further work in the aspect of avoiding the risk of foreign exchange business.