摘要
随着保险市场与资本市场的逐渐对接与融合，一些新兴的风险管理金融工具被开发出来，为财产保险公司和其他大型公司的整合风险管理提供了条件。在这些新兴风险管理工具中，或有资本工具是最为典型的一类。不同的或有资本工具的采用将对公司的资本结构产生不同的冲击，从而对公司价值产生不同的影响。尽管不同的工具对公司资本结构的冲击不同，但是单纯地采用某一种或有资本工具都不是最理想的，实际操作中有必要根据实际情况混合使用多种风险管理工具。
As the insurance market is gradually interfacing with and integrated into the capital market, some new risk management financial vehicles are developed, providing more tools for property insurance companies and other large enterprises to integrate their risk management. Among these risk management tools, alternative capital vehicle is the most typical one. Applying different alternative capital management tools will have different impact on the company＇s capital structure, and accordingly different effect on the company＇s value. Even though different tools have different effects, using any single alternative tool will not produce satisfactory results. Therefore it is necessary to combine different risk management tools according to the actual situations.
出处
《保险研究》
CSSCI
北大核心
2006年第9期55-57,共3页
Insurance Studies
关键词
整合风险管理
或有资本工具
资产避险
负债避险
权益避险
公司价值
integrating risk management
alternative capital management vehicle
asset risk avoidance
liability risk avoidance
shareholder equity risk avoidance
corporate value
