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Zinsrisiko und Zinsrisikomanagement in internationalen Unternehmungen

Zinsrisiko und Zinsrisikomanagement in internationalen Unternehmungen


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About the Book

Inhaltsangabe: Einleitung: In der bankorientierten Literatur und Praxis findet sich bereits seit Anfang der achtziger Jahre, als unerwartete Zinsvolatilitäten bei einigen Kreditinstituten zu erheblichen Ertragsausfällen führten, eine weitreichende Auseinandersetzung mit der Thematik des Zinsrisikos. Die betriebswirtschaftliche Literatur hingegen konzentrierte sich parallel dazu vorwiegend auf Wechselkursrisiken, denn Zinsrisiken waren durch Festsatzfinanzierungen überwiegend ausgeschlossen. Die weltweite Integration und Liberalisierung der Geld- und Kapitalmärkte sowie die Entwicklung moderner Finanzinstrumente veränderte jedoch in jüngerer Zeit das Finanzierungsverhalten international tätiger Unternehmungen nachhaltig. In zunehmendem Maße finanzierten sich Unternehmen über zinsvariable Geschäfte zu niedrigeren kurzfristigen Finanzmarktkonditionen. Die daraus resultierenden Zinsrisiken versucht man heute mittels derivativer Finanzinstrumente abzusichern. Eine theoretisch fundierte Auseinandersetzung mit dem Zinsrisiko internationaler Unternehmungen ist bislang allerdings nur langsam vorangeschritten. Ziel dieser Arbeit ist es, einen Überblick über den aktuellen Stand in Literatur und Praxis zu bieten. Dabei stehen insbesondere Ansätze zur Identifizierung und Quantifizierung des Zinsrisikos von Industrie- und Handelsunternehmungen im Vordergrund. Da das Zinsrisiko nicht notwendigerweise vom Internationalisierungsgrad abhängt, beschäftigt sich ein separater Abschnitt mit den Zinsrisiken internationaler Unternehmungen. Aufgrund der genannten Themen gliedert sich die Arbeit in sechs Kapitel. Dieser Problemstellung folgend werden im zweiten Kapitel der Begriff und die Komponenten des Zinsrisikos sowie die Erfassungsmöglichkeiten in Unternehmungen dargelegt. Kapitel drei liefert das Instrumentarium zur Quantifizierung der identifizierten Zinsrisiken. Neben den gängigen Verfahren der Durationsanalysen werden auch neuere Ansätze vorgestellt. Das vierte Kapitel geht dann,


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Product Details
  • ISBN-13: 9783838643069
  • Publisher: Diplom.de
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 5 mm
  • Width: 148 mm
  • ISBN-10: 3838643062
  • Publisher Date: 12 Jul 2001
  • Height: 210 mm
  • No of Pages: 88
  • Series Title: German
  • Weight: 177 gr


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