Loading...
Publication
A gestão do risco cambial um estudo de caso
| Name: | Description: | Size: | Format: | |
|---|---|---|---|---|
| 1.32 MB | Adobe PDF |
Authors
Advisor(s)
Abstract(s)
Uma vez que a globalização dos negócios é um factor cada vez mais importante, este
trabalho reflete a importância da gestão do risco nos mercados internacionais, identificando-os,
bem como suas as técnicas de cobertura. Procurou-se fazer uma ligação entre as técnicas de
cobertura do risco e as técnicas de pagamento abordadas pela literatura, com as técnicas à
disposição das empresas portuguesas, bem como verificar se estas estão preocupadas com esta
problemática e se fazem uma eficaz gestão do risco nos mercados internacionais. Foi também
realizado um estudo de caso sobre uma empresa portuguesa que aposta fortemente na
internacionalização, apresentando um volume de negócios para fora de Portugal acima dos 70%.
Verificou-se que esta empresa apresenta algumas preocupações relativas ao risco, mas que não
utiliza instrumentos financeiros para o efeito, sendo que o principal motivo é a não existência
destes no seu principal marcado – Angola. Apesar da empresa estar bastante sujeita ao risco
cambial, é o risco de crédito o seu principal problema, através dos atrasos nos recebimentos. É,
portanto, crucial que a empresa expanda o seu negócio para outros mercados internacionais com
baixa correlação com os actuais, evidenciando o efeito de diversificação, com o objectivo de
diminuir o risco.
Since the globalization of business is an increasingly important factor, this work reflects the importance of risk management in international markets, identifying them as well as the techniques of their coverage. We tried to make a connection between the techniques of hedging and payment techniques discussed in literature with the techniques available to the Portuguese companies, as well as verify that they are concerned about this issue and make an effective risk management in international markets. It also conducted a case study of a Portuguese company that invests heavily in internationalization, with a turnover out of Portugal over 70%. It was found that this company has some concerns about the risk, but that does not use financial instruments for this purpose and the main reason is the lack of these in its flagship brand - Angola. Although the company is very subject to currency risk, credit risk is the main problem, through delays in receipts. It is therefore crucial that the company expand its business to other international markets with low correlation with the current, showing the effects of diversification, with the aim of reducing risk.
Since the globalization of business is an increasingly important factor, this work reflects the importance of risk management in international markets, identifying them as well as the techniques of their coverage. We tried to make a connection between the techniques of hedging and payment techniques discussed in literature with the techniques available to the Portuguese companies, as well as verify that they are concerned about this issue and make an effective risk management in international markets. It also conducted a case study of a Portuguese company that invests heavily in internationalization, with a turnover out of Portugal over 70%. It was found that this company has some concerns about the risk, but that does not use financial instruments for this purpose and the main reason is the lack of these in its flagship brand - Angola. Although the company is very subject to currency risk, credit risk is the main problem, through delays in receipts. It is therefore crucial that the company expand its business to other international markets with low correlation with the current, showing the effects of diversification, with the aim of reducing risk.
Description
Dissertação de Mestrado em Contabilidade e Finanças
Keywords
Globalização Risco Câmbio Crédito Pagamento Diversificação Instrumentos financeiros Globalization Risk Foreign Exchange Credit Payment Diversification Financial instruments
Pedagogical Context
Citation
Publisher
Escola Superior de Ciências Empresariais