金融风险管理外文文献翻译原文及译文.doc

金融衍生工具管理金融风险外文文献翻译?(含：英文原文及中文译文) 文献出处：Said A. Managing Financial Risk by Using Derivatives:, a Study of United Arab Emirate Listed Companies[J]. Social Science Electronic Publishing, 2017. 英文原文 MANAGING FINANCIAL RISK BY USING DERIVATIVES: A Study of United Arab Emirate Listed Companies Ali Said Abstract The present paper attempts to identify the ways that the United Arab Emirate listed companies manage their financial risk with the use of derivatives. By examining the companies’ annual reports and financial reviews for the year 2015. The studied revealed that low use of the financial derivatives within Investment and the real estate industries. The use of the derivatives was only 25% while is consider to be below due to the high risk associated with the industry. The risk management tools available for hedging real-estate risk within the United Arab Emirate financial market are very much in their infancy and have problems ranging from illiquidity of trading to lack of theoretical development regarding modeling. Keywords: Financial risk, derivatives, interest rate risk, foreign exchange risk, United Arab Emirate Listed Companies. 1. INTRODUCTION Many of the companies work on reducing risk associated with a business such as interest rates, currency-exchange rates, commodity prices and equity markets. Therefore, many companies are relying heavily on the use of the finance derivatives. The financial derivatives play an important role to support companies to manage and reduce risk by shelter these firms from the volatility of the financial market. Many of the academies and practitioners have expressed concerns over the use of derivatives. Some of the academic studies, such as Faulkender (2005) and Vickery (2008), show that companies frequently utilize interest rate risk derivatives to time the market. Another study such by Brown, Crabb, and Haushalter (2002) discovered that the use of corporate risk management instrument in the gold mining industry is often affected