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1.
Research examining firms' economic exposures to exchange rate movements has not differentiated periods of foreign currency appreciation and depreciation when estimating exposure coefficients. Recent theoretical developments regarding real options and pricing-to-market suggest corporate exposures may be asymmetric (i.e., the financial performance impact of a foreign currency appreciation may not be offset by the currency's depreciation). Our empirical analysis indicates that for the small percentage of U.S. manufacturing firms exposed to currency appreciations or depreciations, their exposures are asymmetric. © 1998 John Wiley & Sons, Ltd.  相似文献   

2.
建设项目的实施贯穿于项目全生命周期过程,且涉及不同的利益相关者,使得风险具有动态性特征。本文在综合国内外现有研究成果的基础上,提出了基于利益相关者和生命周期的动态风险管理体系。分别从利益相关者和生命周期两个角度探讨了风险的动态性特征,将项目风险、项目利益相关者和生命周期有机结合,系统地阐述了实施建设项目动态风险管理思想并提出实现动态风险管理的建议。  相似文献   

3.
项目经理的不良经济行为,如随意签订经济合同、不注意合同条款谈判、拒付和拖欠民工工资、挪用和转移工程资金等,已成为产生施工企业经济风险的主要原因之一,必须从制度上对项目经理进行必要的约束,加强合同管理、把好合同签订关,实行风险抵押承包制度,加强成本管理和进度控制,加强对工程资金的管理,才能防范和化解企业经济风险,以维护企业的利益。  相似文献   

4.
加强能源计量管理提高企业经济效益   总被引:1,自引:0,他引:1  
通过对石油企业中存在的能源计量问题分析研究,强调了通过优化生产工艺节能过程,加强节能降耗技术攻关,科学调控、合理利用能源,以及加强节能基础性管理的必要性。从健全能源计量网络,推行成本目标管理,以及提升计量技术机构的能力和水平,确保量值传递和溯源的准确可靠等方面,进一步阐明了为建设节约型企业,计量应如何发挥应有的作用。  相似文献   

5.
In dynamic sectors, organizations should be capable of adapting to unpredictable environmental conditions. Strategic flexibility grants organizations the capacity to respond to the changes in their environment in the direction required, renewing their strategies and making the required organizational changes. The goal of this study is to analyze how the use of real options relates to strategic flexibility from a managerial capacity perspective. Through an empirical study performed on European firms, we confirm that innovative capacity exercises a moderating role between real options and strategic flexibility. The fact that a firm's management has foreseen and contemplated real options does not necessarily lead to their execution; they must also be accompanied by some innovative capacity.  相似文献   

6.
湖南某“煤矸石综合利用”项目,一期300MW超临界机组工程电厂年耗矸石、中煤及劣质煤94×10^4t,由邻近煤电一体化项目的黄兰煤矿及柳树选煤厂供应。根据煤源至电厂的厂外交通条件,对厂外运输方式进行了比较论证,可以实现建设期降低工程造价、生产运营期节约运行成本,符合电厂全寿命周期内综合效益最大化的要求,并简化了运输管理,节约了管理成本。  相似文献   

7.
    
Research summary : When war occurs in a country, some foreign multinational enterprises (MNEs) stay on, while others flee. We argue that MNE responses to external threats depend on the firm's vulnerability, which we decompose into exposure (proximity to threat), at‐risk resources (potential for loss), and resilience (capacity for coping). We test the independent and interactive effects of these dimensions using a geo‐referenced sample of 1,162 MNE subsidiaries in 20 war‐afflicted countries between 1987 and 2006. We find that highly valuable resources can become liabilities when exposed to harm, and the best way to cope with external threats may be to exit. Our findings extend the resource‐based view and real options theory by demonstrating the bounded value of resources and options in the face of environmental contingencies. Managerial summary : A recent survey of multinational enterprise (MNE) executives revealed that 30 percent of the respondents believed that their firms were exposed to collateral damage from war, with more than 90 percent expecting risks to rise. Yet, 25 percent of the executives indicated that their firms had no continuity plan. Our study of MNEs in war‐afflicted countries highlights the costs of not having a response strategy in place. We find that, in war zones, otherwise highly valuable locations and resources can become sources of vulnerability that prompt early withdrawal from a host country. Our work further highlights the value of real options thinking—where structural solutions such as building redundancy into a portfolio of options may exist in advance of problems—for navigating hostile environments. Copyright © 2016 John Wiley & Sons, Ltd.  相似文献   

8.
房地产投资风险管理   总被引:1,自引:0,他引:1  
对房地产投资开发过程中所存在的各种风险进行了分析,运用数学和概率统计的知识,分析了衡量房地产投资风险大小的几种方法,并提出了针对各种潜在风险的规避与控制措施。  相似文献   

9.
As a consequence of recent food safety incidents, consumer trust in European food safety management has diminished. A risk governance framework that formally institutes stakeholder (including consumer) consultation and dialogue through a transparent and accountable process has been proposed, with due emphasis on risk communication. This paper delivers actionable policy recommendations based on consumer preferences for different approaches to food risk management. These results suggest that risk communication should be informed by knowledge of consumer risk perceptions and information needs, including individual differences in consumer preferences and requirements, and differences in these relating to socio-historical context associated with regulation. In addition, information about what is being done to identify, prevent and manage food risks needs to be communicated to consumers, together with consistent messages regarding preventative programs, enforcement systems, and scientific uncertainty and variability associated with risk assessments. Cross-cultural differences in consumer perception and information preferences suggest a national or regional strategy for food risk communication may be more effective than one applied at a pan-European level.  相似文献   

10.
综合系统的安全管理   总被引:6,自引:1,他引:6  
应用综合的系统的方法将全面的质量管理应用到安全管理中,形成全员参与、全过程管理、全方位保证的安全管理新局面,有组织有系统的完成我们的安全管理工作。  相似文献   

11.
在风险投资项目中,不确定性对风险项目投资评价、决策起到了决定性的作用。运用实物期权原理分析了不确定性对风险投资项目评价和决策的影响,通过风险中性概率方法将这些影响予以定量化,并进一步对实际投资行为作出解释。  相似文献   

12.
This study investigates the value of the strategic flexibility provided by firms' international investments during an economic crisis, defined here as an unanticipated significant downturn in the economy. To avoid below‐par performance, firms need to adapt quickly to this significant change in their environment, making real options very valuable to them. Although firms' international investments can potentially provide such flexibility, this issue has not been empirically examined in a context of such dramatic negative change. We consider two types of international investments by firms in this regard, foreign direct investments and export‐related international investments, developing two measures that directly assess the flexibility derived from each that are new to the literature. Based on these measures, we find evidence that both types of international investments provided valuable flexibility for Korean firms during the economic crisis conditions. This study contributes to the literature by showing that firms with real options investments in place have a greater ability to flexibly adapt their overall operations in line with unforeseen negative environmental change, in contrast to firms without such investments. Copyright © 2009 John Wiley & Sons, Ltd.  相似文献   

13.
Supply Chain Risk Management has become a key concern for organizations, which is even further emphasized by the current economic and financial crisis. Against this background, this paper investigates successful approaches and experiences by companies in dealing with this new reality, especially as it concerns the supply side. Using in-depth case studies conducted among eight European enterprises, we develop a set of propositions about how companies manage supply risks in financial crises, highlight how their risk management approaches have shifted, and illustrate how they are related to Enterprise Risk Management. Our framework is further differentiated based on whether firms are predominantly engaged in manufacturing or services—a factor influencing how supply chain risk is managed. Transaction cost economics serves as our main theoretical anchor. By rigorously grounding our research in both theory and empirical evidence, we provide valuable insight for both academia and practice.  相似文献   

14.
    
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15.
    
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16.
    
Managing knowledge inventories is the central issue posed by the knowledge‐based view of the firm. Knowledge inventory management involves acquiring, retaining, deploying, idling, and abandoning technologies. Because of future opportunities to switch technologies over time, managing knowledge inventories requires valuing flexibility. Real option theory presents normative conceptual frameworks and pricing formulas for valuing flexibility. These formulas assume managers consider the full time horizon of technologies as well as all available substituting and complementary technologies. This study considers the implications of violations of these assumptions (i.e., temporal and spatial myopia) for managers' technology investment decisions. Specifying decision criteria under alternative forms of myopia reveals possible sources and patterns of technology management decision errors. This study highlights the cognitive sources of path dependencies and organizational rigidities. Copyright © 2002 John Wiley & Sons, Ltd.  相似文献   

17.
简要总结了我国BT建没模式的发展,分析了该模式下监理与参建各方的合同关系和监督关系。将BT模式与BOT模式及EPC模式进行比较,讨论了该模式下监理的工程管理风险,重点研究了工程施工过程中质量管理和投资控制的新方法,为实施BT建没模式进一步提供借鉴和参考  相似文献   

18.
文章提出了对建设项目风险效率进行分析与评价的方法。解释了风险效率的概念,并基于风险投入和风险效应两个维度详细阐述了建设项目风险效率的内涵。结合风险管理的全过程以及风险效率的两个维度,分析了建设项目风险效率的形成机理,并对风险投入和风险效应的内容和量化思路做了进一步的分析。通过对管理学及经济学中效率评价的一般方法的分析,提出了对建设项目风险效率进行评价的方法,以期能基于风险效率提供更好的建设项目风险管理。  相似文献   

19.
The purpose of this paper is to investigate the research development in supply chain risk management (SCRM), which has shown an increasing global attention in recent years. Literature survey and citation/co-citation analysis are used to fulfil the research task. Literature survey has undertaken a thorough search of articles on selected journals relevant to supply chain operations management. Meanwhile, citation/co-citation analysis uses Web of Sciences database to disclose SCRM development between 1995 and 2009. Both the approaches show similar trends of rising publications over the past 15 years. This review has piloted us to identify and classify the potential risk associated with different flows, namely material, cash and information flows. Consequently, we identify some research gaps. Even though there is a pressing need and awareness of SCRM from industrial aspect, quantitative models in the field are relatively lacking and information flow risk has received less attention. It is also interesting to observe the evolutions and advancements of SCRM discipline. One finding is that the intellectual structure of the field made statistically significant increase during 2000-2005 and evolved from passively reacting to vague general issues of disruptions towards more proactively managing supply chain risk from system perspectives.  相似文献   

20.
Real options reasoning (ROR) is a conceptual approach to strategic investment that takes into account the value of preserving the right to make future choices under uncertain conditions. In this study, we explore firms' motivations to invest in a new option. We find, based on an analysis of a large sample of patents by firms active in the pharmaceutical industry, that their investments in R&D are consistent with the logic of ROR. We identify three constructs—scope of opportunity, prior experience, and competitive effects—which have an influence on firms' propensity to invest in new R&D options and which could usefully be incorporated in a strategic theory of investment. Copyright © 2003 John Wiley & Sons, Ltd.  相似文献   

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