提 要
在市場(chǎng)經(jīng)濟(jì)條件下，企業(yè)的生存和發(fā)展不可能沒(méi)有投資和融資、賒購(gòu)和賒銷；在市場(chǎng)主體和客體充滿變數(shù)的情況下，企業(yè)財(cái)務(wù)都潛伏著不同程度的風(fēng)險(xiǎn)。企業(yè)發(fā)生財(cái)務(wù)風(fēng)險(xiǎn)，輕則影響融資，重則導(dǎo)致破產(chǎn)。因此，監(jiān)測(cè)與防范財(cái)務(wù)風(fēng)險(xiǎn)對(duì)所有企業(yè)尤其是中小企業(yè)，具有緊迫性和現(xiàn)實(shí)意義。
本文對(duì)財(cái)務(wù)風(fēng)險(xiǎn)涵義及其屬性進(jìn)行了概括，對(duì)xx石油天然氣股份有限公司（以下簡(jiǎn)稱xx石油）面臨的主要財(cái)務(wù)風(fēng)險(xiǎn)進(jìn)行了分析。在分析面臨的財(cái)務(wù)風(fēng)險(xiǎn)基礎(chǔ)上，本文提出了xx石油如何加強(qiáng)財(cái)務(wù)風(fēng)險(xiǎn)管理的建議，最后得出結(jié)論。
一、財(cái)務(wù)風(fēng)險(xiǎn)。本文認(rèn)為財(cái)務(wù)風(fēng)險(xiǎn)是客觀存在的，是可以控制的。其實(shí)質(zhì)是一種微觀經(jīng)濟(jì)風(fēng)險(xiǎn)，是企業(yè)理財(cái)活動(dòng)風(fēng)險(xiǎn)的集中體現(xiàn)。狹義的財(cái)務(wù)風(fēng)險(xiǎn)是指籌資風(fēng)險(xiǎn)，廣義的財(cái)務(wù)風(fēng)險(xiǎn)包括籌資風(fēng)險(xiǎn)、投資風(fēng)險(xiǎn)、現(xiàn)金流量風(fēng)險(xiǎn)、利率風(fēng)險(xiǎn)和匯率風(fēng)險(xiǎn)。
二、xx石油面臨的主要財(cái)務(wù)風(fēng)險(xiǎn)。xx石油已于2005年4月在紐約和香港上市，完成了海外籌資計(jì)劃，所以本文沒(méi)有詳細(xì)分析它的籌資風(fēng)險(xiǎn)。價(jià)格風(fēng)險(xiǎn)雖然沒(méi)有出現(xiàn)在財(cái)務(wù)風(fēng)險(xiǎn)管理的書籍中，但本文認(rèn)為由于它對(duì)xx石油經(jīng)濟(jì)效益的影響很大，所以本文將其列為xx石油的財(cái)務(wù)風(fēng)險(xiǎn)來(lái)分析。目前，xx石油面臨的主要財(cái)務(wù)風(fēng)險(xiǎn)有：價(jià)格風(fēng)險(xiǎn)、匯率風(fēng)險(xiǎn)、利率風(fēng)險(xiǎn)、現(xiàn)金流量風(fēng)險(xiǎn)和投資風(fēng)險(xiǎn)。
三、加強(qiáng)財(cái)務(wù)風(fēng)險(xiǎn)管理的建議。本文從以下幾個(gè)方面對(duì)xx石油提出了建議：
1．建立財(cái)務(wù)風(fēng)險(xiǎn)衡量和預(yù)警系統(tǒng)；
2．完善內(nèi)部控制制度；
3．應(yīng)用衍生金融工具規(guī)避風(fēng)險(xiǎn)；
4．加強(qiáng)投資風(fēng)險(xiǎn)管理；
5．建立風(fēng)險(xiǎn)基金；
6．建立財(cái)務(wù)風(fēng)險(xiǎn)管理的組織系統(tǒng)；
7．注重財(cái)務(wù)風(fēng)險(xiǎn)管理人才的培養(yǎng)。
本文最后指出了不足，并將衍生金融工具與風(fēng)險(xiǎn)管理、內(nèi)部控制體系建設(shè)作為自己今后繼續(xù)學(xué)習(xí)和研究的方向。

ABSTRACT
Under the market economy condition, enterprise's survival and the development not impossible not to have the investment and financing, buys on credit with the selling on credit； In market main body and in object fill variable situation, enterprise finance all ambush varying degree risk. The enterprise has the financial risk, affects financing lightly, the heavy piece causes the bankruptcy. Therefore, the monitor and the guard finance risk to all enterprise small and medium-sized enterprise, has the pressing and the practical significance in particular.
In this thesis,the author summarizes the definition and characters of financial risks,analyzes the major financial risks that face PetroDaqing,and proposes to PetroDaqing how to strengthen the management of financial risk.Consequently he reaches the conclusion of the thesis.
Financial risk.Financial risk is one kind of microeconomic risks in substance resulting from companies’financing activity.It is objective but controllable.To a narrow sense,it refers to only financing risk;to a broad sense,it includes the risk of financing,investing,cash flow,interest rate and exchange rate,etc.
The major financial risks confronting PetroDaqing.As a major oil company,Petrodaqing bears both the common characters as other company and the unique characters in oil and gas industry.Because PetroDaqing has been listed on the New York Stock Exchange,Inc.and the Stock Exchange of Hong Kong,and has fulfilled its goal to finance overseas,the thesis focus on more about the risks of price,exchange rate,interest rate,cash flow and investing instead of mentioning too much of the financing risk.
Suggestion to strengthen the management of financial risk.It is a new and critical issue for Petrodaqing to consider how to strengthen the control and management of financial risk when facing emerging competition market.In the end,the article came to suggestion to Petrodaqing in terms of following aspects:
1．Establish the measurement and alarming system of financial risk;
2．Improve internal control;
3．Minimize risks by using financial derivatives;
4．Strengthen the management of investing risk;
5．Establish risk fund；
6．Establish the management system of financial risk;
7．Pay attention to the training of financial risk management experts.
The author draw the conclusion based on the analyzing and point out the
shortcomings of the thesis.He plans to make further study regarding to the derivatives and risk management,and the internal control system.


提 要 I
ABSTRACT II
第一章 緒論 1
1.1 研究背景及意義 2
1.1.1 研究背景 2
1.1.2 研究意義 2
1.2 國(guó)內(nèi)外研究現(xiàn)狀 2
1.2.1 國(guó)外研究現(xiàn)狀 2
1.2.2 國(guó)內(nèi)研究現(xiàn)狀 3
1.3 研究方法及結(jié)構(gòu)體系 4
第2章 財(cái)務(wù)風(fēng)險(xiǎn)的相關(guān)理論 6
2.1 財(cái)務(wù)風(fēng)險(xiǎn)的定義及特征 6
2.1.1 財(cái)務(wù)風(fēng)險(xiǎn)的定義 6
2.1.2 財(cái)務(wù)風(fēng)險(xiǎn)的特征 6
2.2 財(cái)務(wù)風(fēng)險(xiǎn)的生成傳導(dǎo) 7
2.3 財(cái)務(wù)風(fēng)險(xiǎn)的分類 9
2.3.1 按財(cái)務(wù)活動(dòng)的環(huán)節(jié)分類 9
2.3.2 按風(fēng)險(xiǎn)產(chǎn)生的結(jié)果分類 10
2.3.3 按風(fēng)險(xiǎn)涉及的對(duì)象分類 11
2.4 財(cái)務(wù)風(fēng)險(xiǎn)的分析 11
2.4.1 財(cái)務(wù)風(fēng)險(xiǎn)定性分析法 11
2.4.2 財(cái)務(wù)風(fēng)險(xiǎn)定量分析法 12
第三章 xx石油面臨的主要財(cái)務(wù)風(fēng)險(xiǎn)分析 14
3.1價(jià)格風(fēng)險(xiǎn) 14
3.1.1．國(guó)際市場(chǎng)油價(jià)影響 14
3.1.2．國(guó)內(nèi)油氣價(jià)格影響 15
3.2 匯率風(fēng)險(xiǎn) 16
3.3利率風(fēng)險(xiǎn) 18
3.4現(xiàn)金流量風(fēng)險(xiǎn) 19
3.4.1．現(xiàn)金收付風(fēng)險(xiǎn) 19
3.4.2．資金流動(dòng)風(fēng)險(xiǎn) 20
3.4.3．信用風(fēng)險(xiǎn) 21
3.4.4．存貨占用資金風(fēng)險(xiǎn) 23
3.5投資風(fēng)險(xiǎn) 24
3.5.1．短期投資風(fēng)險(xiǎn) 24
3.5.2．長(zhǎng)期投資風(fēng)險(xiǎn) 25
第四章預(yù)警系統(tǒng)模型建立以及風(fēng)險(xiǎn)管理的建議 27
4.1xx石油公司財(cái)務(wù)預(yù)警模型建立 27
..