| 1. | Hereby we propose an option of " hedge controlling risk , speculation striving for profit " as a solution
针对这种现状，本论文提出了采用“套保控制风险，投机争取利润”的解决办法。 |
| 2. | Ratio of the value of futures contracts purchased or sold to the value of the cash commodity being hedged , a computation necessary to minimize basis risk
所买卖的期货合约价值与要进行套保的现货商品价值之间比值，用来计算最小化基差风险。 |
| 3. | It has important practical significance for manager to keep away risk and receive maximize profile , that speculation is understood correctly and combined by hedge
对投机行为的正确认识，并使它与套保行为结合使用，对企业防犯风险、最大限度地实现自身的经济效益具有重要的现实意义。 |
| 4. | In practice , the method show good operability . significant conclusions : it is available in our market to get target profit and control venture by speculation and hedge combination
本论文通过理论与实证的研究，得出的结论是:利用投机加套保组合投资能有效实现利润与控制风险，在我国目前的市场状况下，是切实可行的。 |
| 5. | Fourth , the article use method of projecting to investigate the strategy of portfolio hedging . then it limit the portfolio to one financial capital , namely stock index futures , thus it gains the index to estimate the efficiency of hedging . at last , an empirical study is conducted to analyze xinhua index and zhongxin index
第四，论文对模型的研究采用了这样一种思路，从利用多种金融资产进行套期保值出发，采用随机变量的投影分析的方法，研究了组合套期保值的策略，然后将其限制在只用一种金融资产即股指期货进行套保的情况下，得出了股指期货的套期保值效率的评价指标。 |
| 6. | The new points of this dissertation is that the hedge portfolio investment theory joined speculation . the hedge portfolio investment mode extend to the mode of hedge combining with speculation : the invest position of spot position + hedge position has become spot position + hedge position + speculation position
本论文的创新之处是，在套保组合投资理论的基础上，融入了投机的因索。将套保组合投资模式发展为套保与投机结合的模式，即投资部位由现货头寸+期货套保头寸转变为现货头寸+期货套包头寸+期货投机头寸三个投资部位。 |
| 7. | It has been a misunderstanding among the theoretical circle as well as the public , that speculation is improper in operation . therefore heavy restrictions have been taken against it , which has resulted in over - cautiousness and even passing away from it in enterprises " investment activities . even if there is a chance of speculations , they let the profit - making chance passed by
目前理论界及大众心里普遍存在着一种误区，将投机行为视为不正当的，不好的东西，在经营的过程中，对投机行为加以约束及限制，导致企业进行投资时，对投机行为常常顾忌，蹑手蹑脚，不敢涉足，以至当获利机会来临时，毫无准备，白白地让机会从眼前溜走，甚至当套保出现亏损时，也无人问津投机交易，不敢做“非分”投机的尝试。 |
| 8. | Correspondingly , the hedge combination invention model has become hedge joined speculation mathematical model . the new model has been analysed theoretically and is effective in enterprise ' s active application . the thesis proves the linear correlativity of spot price and future price by excel software , calculates correlation of two markets . hedge rate . regress equation by two market price and offers quantitative evidences for investment decision - making
本论文运用excel软件，利用散点图证明了期、现两市场价格的相关关系，对现货价格、期货价格进行线性回归，给出了计算期、现两市场的相关系数、套保率的方法，为企业投资决策提供可量化的依据，在实际运作中，具有较强的可操作性。 |
| 9. | This thesis mainly includes four parts : part one : according to practical problems , analyses reason caused by theoretic mistakes , gives solving method of combination of hedge with speculation ; part two : introduces basic theory of hedge and speculation , demonstrates speculation function and their relation ; part three : offers mathematical model and analyses them theoretically ; part four : proves the method right by practical application and result ; part five : a few of conclusions
本论文的结构为:第一部分根据企业经营中存在的问题，分析了其产生根源的理论误区，从而提出了解决问题的方法，即利用套保与投机进行组合投资。第二部分介绍了套保与投机的基础理论，论述了投机的积极作用及两者的关系。第三部分提出了套保与投机组合的数学模型，并进行了理论分析。 |
| 10. | In the past time , many enterprises hedged mainly for the sake of spot transaction risk prevention , when they failed in hedge , they turned to attribute the reason of failure to miscellaneous causes instead of taking some compensation measures , let alone striving for the speculative profit by taking advantage of the future market
在以往的经历中，企业进行套期保值的主要目的是为了防范现货风险，即使套保失败，总找借口，将不利的结果归入其它原因，并未考虑其补救措施，更谈不上利用期货市场争取投机利润。 |
