Publication: Metal sektöründe riski azaltmak için türev araçların hedging amaçlı kullanımı
Abstract
Yatırımcılar açısından risk; belirlenen zaman aralığında, hedeflenen bir sonuca ulaşamama, kayba ya da zarara uğrama olasılığıdır. Bu bakımdan risk gelecekte meydana gelecek potansiyel sorunlara, tehdit ve tehlikelere işaret eder. Ancak risk kavramına yalnızca olumsuz olarak bakılmamalı, riskin etkin yönetim ve sistematik çaba ile kazanca dönüştürülebileceği de unutulmamalıdır. Türev araçların bir türü olarak adlandırılan Vadeli İşlem Sözleşmeleri, özellikle gelişmiş ülkelerde, reel ve finansal sektör tarafından risk yönetimi amacıyla etkin biçimde kullanılmaktadır. Çalışmamda; finansal piyasaların tarihsel gelişiminden bahsedilerek piyasa çeşitleri açıklanmış, riskler sistematik veya sistematik olmayan riskler olmak üzere sınıflamaya tabi tutularak tanımlama yapılmıştır. Ayrıca; yatırımcının etkin bir risk yönetimi sağlayabilmek için seçtiği finansal enstrümanlar ve özellikleri açıklanarak, metal sektöründe faaliyet gösteren firma verileriyle kriz döneminde vadeli işlem sözleşmelerinin etkinliği araştırılmıştır. Yapılan araştırmada, ekonomik istikrarın olduğu dönemlerde tercih edilen uzun pozisyon ile riskten korunma işlemi, kriz dönemlerinde etkisini kaybedip firmayı zarara uğratmış, buna karşın kriz döneminde tercih edilen kısa pozisyon ile riskten korunma işlemi ise etkin risk yönetimini sağlayarak ve zararı kompanse etmiştir. rev Araçlar, Riskten Korunma, Metal Hedging
Risk in terms of investors, the specified time interval, the failure to achieve targeted results, is likely to suffer loss or damage. This will occur in the future from the risk of potential problems, refers to threats and danger. However, the concept of risk should not be considered to be only negative, the effective management of risk and systematic efforts also should be noted that the gain can be converted. Known as a type of derivative instruments Term Transactions Agreements, especially in developed countries, by the real and financial sectors for the purpose of risk management is used effectively. My Work, by talking about the historical development of financial markets have been open market variations, risk of non-systematic or systematic risk to be subjected to classification by the identification was made. Additionally, investors can provide an effective risk management and financial instrument for the selected features will be open, metal industry company operating in the data-term contracts in the period of crisis events has been investigated. Configuration research economic stability in the period, the preferred long position protected from the risk process, the effects of the crisis period, the company lost to have suffered damage, but the period of crisis, preferred risk with short positions to protect them from the process of effective risk management by providing and compensated damage. Key Words: Futures, Hedging, Metal Hedging
Risk in terms of investors, the specified time interval, the failure to achieve targeted results, is likely to suffer loss or damage. This will occur in the future from the risk of potential problems, refers to threats and danger. However, the concept of risk should not be considered to be only negative, the effective management of risk and systematic efforts also should be noted that the gain can be converted. Known as a type of derivative instruments Term Transactions Agreements, especially in developed countries, by the real and financial sectors for the purpose of risk management is used effectively. My Work, by talking about the historical development of financial markets have been open market variations, risk of non-systematic or systematic risk to be subjected to classification by the identification was made. Additionally, investors can provide an effective risk management and financial instrument for the selected features will be open, metal industry company operating in the data-term contracts in the period of crisis events has been investigated. Configuration research economic stability in the period, the preferred long position protected from the risk process, the effects of the crisis period, the company lost to have suffered damage, but the period of crisis, preferred risk with short positions to protect them from the process of effective risk management by providing and compensated damage. Key Words: Futures, Hedging, Metal Hedging