Vol.5 No.2 (April 2015)
On the Nature of Financial Tool Side of Profit and Loss in the Hedge
毕 鹏 ：上海期货交易所监查部，上海
In a hedging, profits and losses made by financial tools can be matched with those made by spot exchanges. The hedging of risk does not directly affect the profit and loss of the enterprise. Re-gardless of its profitability and the amount of profit or loss, one should not fuss. Profits generated by changing of basis in financial tools are similar to the abnormal returns gained by rising of the relevant asset prices in the property liquidation, while losses are similar to those parts of property losses which the insurance cannot cover. Profits and losses of an enterprise caused by a lax ex-ecution of hedging scheme should belong to those profits and losses made by speculation. The en-terprise should strengthen management to avoid this.
毕 鹏 (2015) 论套期保值中金融工具侧盈亏的性质。 金融， 5， 33-37. doi: 10.12677/FIN.2015.52005
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 Jovarovic, S. (2014) Hedging com-modities—A practical guide to hedging strategies with futures and options. Harriman House Publishing, UK.
 徐爱荣 (2009) 保险理财学. 复旦大学出版社, 上海.