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Study on Foreign Exchanges Risks Hedging Strategies of SMEs 1、Introduction 3 1.1 Nature of the Research 3 1.2 The Research Problem 4 1.3 Hypothesis of the Research 4 1.4 Objective of the Research 5 2. Literature review 5 2.1 Foreign Exchange Risk 5 2.1.1 The Conception of Foreign Exchange Risk 5 2.1.2 Import & Export Enterprises and Foreign Exchange Risk 5 2.1.3 Factors affecting corporate exchange rate risks 6 2.2 Foreign Exchange Risk Management 7 2.2.1 Transaction Risk and Solutions 7 2.2.2 Accounting risks and countermeasures 7 2.2.3 Economic risks and countermeasures 8 2.3 Foreign Exchange Risk Hedging 8 2.3.1 Evolution of foreign exchange rate risks theories 8 2.3.2 The Objective and Principle of Foreign Exchange Risk Prevention 10 2.3.3Internal Prevention Mechanism for Foreign Exchange Transaction Risk 10 2.3.4 External Management Mechanism for Foreign Exchange Transaction Risk 11 2.3.5 Foreign Exchange Risk Prevention of Small and Medium Enterprise 12 2.4 Foreign exchange market in Taiwan 13 2.5 Inevitable choice of export-oriented economy in Taiwanese enterprises and foreign exchange risks 13 2.6Cooperate with banks to gain the line of credit 14 3 Methodologies 14 3.1 Qualitative analysis 14 3.2SWOT analysis 15 3.2.1 Strength analysis 15 3.2.2 Weakness analysis 15 3.2.3 Opportunity analysis 16 3.2.4 Threat analysis 16 3.3 PEST Analysis 16 3.3.1 Brief introduction of PEST analysis method 16 3.3.2 Application of PEST Analysis Method in the analysis of foreign exchange risks heding of SMEs 17 3.3.2.1 Politics environment analysis on the small and medium enterprises exchange risk 17 3.3.2.2 Economic environment analysis on the small and medium enterprises exchange risk 17 3.3.2.3 Society environment analysis on the small and medium enterprises exchange risk 18 3.3.2.4 Technology environment analysis on the small and medium enterprises exchange risk 19 4. Case Study 23 4.1 Profile of Taiwan East Asian Electronics Co. 23 4.2 Foreign exchange risks and the hedging measures of TEAE 23 4.3 Reflections from the risks hedging case of TEAE 24 5. Analysis of foreign exchange risks hedging strategies of SMEs 24 5.1 Exchange Rate Risks management and hedging tactics in Taiwan’s enterprises 25 5.1.1 Natural Hedge tactic 25 5.1.2 Tactic of transaction means adjustment 25 5.1.3 Tactic of the adjustment of assets and debts 26 5.1.4 Derivative financial products tactic 26 5.2 Analysis of the risks hedge by financial products 26 5.2.1 Forward rate contract 26 5.2.2 Non principal delivery forward contract (NDF) 27 5.2.3 Cross currency swap 27 5.2.4 Foreign Exchange Options 27 5.2.5 Foreign Exchange Futures 27 5.3 Exploration on foreign exchange risks hedge by Taiwan’s enterprise 28 6. Recommendation and Conclusion 28 6.1 Finding on the Three Hypothesis 28 6.2 Conclusion of the dissertation 29 References: 29 Abstract Small and medium enterprises in developing countries are faced with even greater pressure of foreign exchange risks. For foreign trade enterprises, the continuous and unbalance development of world economy and different economic cycle of development has forced them to merge into the trend of world economy. Benefits of foreign trade and export are subject to the even big impact of foreign exchanges. So how to face and hedge the risks of foreign exchanges has become the most important issue for enterprises, in particular, small and medium foreign trade enterprises. Usually, business of本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。