【導(dǎo)讀】與此同時(shí)，傾銷作為外國生產(chǎn)商爭奪我國市場(chǎng)的一種競(jìng)爭。動(dòng)對(duì)外發(fā)起反傾銷調(diào)查。氨綸作為一種高檔紡織材料，我國的氨綸產(chǎn)業(yè)起步晚了西方50多年，泰和新材作為中國煙臺(tái)市第一家氨綸企業(yè)，牽頭其他氨綸企業(yè)，發(fā)。起對(duì)國外的反傾銷調(diào)查，對(duì)于保護(hù)我國氨綸產(chǎn)業(yè)，有重要意義。傾銷過程中取得的成果和存在的問題。嘗試提出煙臺(tái)市氨綸行業(yè)應(yīng)對(duì)低價(jià)。導(dǎo)教師的指導(dǎo)下進(jìn)行的研究工作及取得的成果。機(jī)構(gòu)的學(xué)位或?qū)W歷而使用過的材料。行研究所取得的研究成果。除了文中特別加以標(biāo)注引用的內(nèi)容。對(duì)本文的研究做出重要貢獻(xiàn)的個(gè)人和集體，均已在文中以明。本人完全意識(shí)到本聲明的法律后果由本人承擔(dān)。電子版，允許論文被查閱和借閱。可以將本學(xué)位論文的全部或部分內(nèi)容編入有關(guān)數(shù)據(jù)庫進(jìn)行檢索，可以采用影印、縮印或掃描等復(fù)制手段保存和匯編本學(xué)位論文。涉密論文按學(xué)校規(guī)定處理。

　　

【正文】 itions closely monitor their foreign exchange risk and try to manage, as well as limit, their exposure to it. In a similar fashion, some institutions with significant investments in one modity such as oil, through their lending activity or geographical franchise, concern themselves with modity price risk. Others with high singleindustry concentrations may monitor specific industry concentration risk as well as the forces that affect the fortunes of the industry involved. Credit risk arises from nonperformance by a borrower. It may arise from either an inability or an unwillingness to perform in the premitted contracted manner. This can affect the lender holding the loan contract, as well as other lenders to the creditor. Therefore, the financial condition of the borrower as well as the current value of any underlying collateral is of considerable interest to its bank. The real risk from credit is the deviation of portfolio performance from its expected value. Accordingly, credit risk is diversifiable, but difficult to eliminate pletely. This is because a portion of the default risk may, in fact, result from 煙臺(tái)市氨綸行業(yè)反傾銷現(xiàn)狀和對(duì)策分析 30 the systematic risk outlined above. In addition, the idiosyncratic nature of some portion of these losses remains a problem for creditors in spite of the beneficial effect of diversification on total uncertainty. This is particularly true for banks that lend in local markets and ones that take on highly illiquid assets. In such cases, the credit risk is not easily transferred, and accurate estimates of loss are difficult to obtain. Counterparty risk es from nonperformance of a trading partner. The nonperformance may arise from counterparty’s refusal to perform due to an adverse price movement caused by systematic factors, or from some other political or legal constraint that was not anticipated by the principals. Diversification is the major tool for controlling nonsystematic counterparty risk. Counterparty risk is like credit risk, but it is generally viewed as a more transient financial risk associated with trading than standard creditor default risk. In addition, counterparty’s failure to settle a trade can arise from other factors beyond a credit problem. Liquidity risk can best be described as the risk of a funding crisis. While some would include the need to plan for growth and unexpected expansion of credit, the risk here is seen more correctly as the potential for a funding crisis. Such a situation would inevitably be associated with an unexpected event, such as a large charge off, loss of confidence, or a crisis of national proportion such as a currency crisis. In any case, risk management here centers on liquidity facilities and portfolio structure. Recognizing liquidity risk leads the bank to recognize liquidity itself as an asset, and portfolio design in the face of illiquidity concerns Xxxx 大學(xué)學(xué)士學(xué)位論文 31 as a challenge. Operational risk is associated with the problems of accurately processing, settling, and taking or making delivery on trades in exchange for cash. It also arises in record keeping, processing system failures and pliance with various regulations. As such, individual operating problems are small probability events for wellrun anizations but they expose a firm to outes that may be quite costly. Legal risks are endemic in financial contracting and are separate from the legal ramifications of credit counterparty and operational risks. New statutes, tax legislation, court opinions and regulations can put formerly wellestablished transactions into contention even when all parties have previously performed adequately and are fully able to perform in the future. For example, environmental regulations have radically affected real estate values for older properties and imposed serious risks to lending institutions in this area. A second type of legal risk arises from the activities of an institution39。s manageme nt or employees. Fraud, violations of regulations or laws, and other actions can lead to catastrophic loss, as recent examples in the thrift industry have demonstrated. All financial institutions face all these risks to some extent. Nonprincipal or agency activity involves operational risk primarily. Since institutions in this case do not own the underlying assets in which they trade, systematic, credit and counterparty risk accrues directly to the asset holder. If the latter experiences a financial loss, however, legal recourse against an agent is often attempted. Therefore, institutions engaged in only agency transactions bear some legal risk, if only indirectly. 煙臺(tái)市氨綸行業(yè)反傾銷現(xiàn)狀和對(duì)策分析 32 Our main interest, however, centers around the businesses in which the bank participates as a principal, ., as an intermediary. In these activities, principals must decide how much business to originate, how much to finance, how much to sell, and how much to contract to agents. In so doing, they must weigh both the return and the risk embedded in the portfolio. Principals must measure the expected profit and evaluate the prudence of the various risks enumerated to be sure that the result achieves the stated goal of maximizing shareholder value. The banking industry has long viewed the problem of risk management as the need to control four of the above risks which make up most, if not all, of their risk exposure, viz., credit, interest rate, foreign exchange and liquidity risk. While they recognize counterparty and legal risks, they view them as less central to their concerns. Where counterparty risk is significant, it is evaluated using standard credit risk procedures, and often within the credit department itself. Likewise, most bankers would view legal risks as arising from their credit decisions or, more likely, proper process not employed in financial contracting.