{"id":580258,"date":"2023-12-28T03:16:08","date_gmt":"2023-12-28T03:16:08","guid":{"rendered":"https:\/\/proxyelite.info\/glossary\/hedge\/"},"modified":"2023-12-28T03:16:08","modified_gmt":"2023-12-28T03:16:08","slug":"hedge","status":"publish","type":"glossary","link":"https:\/\/proxyelite.info\/cn\/glossary\/hedge\/","title":{"rendered":"\u6811\u7bf1"},"content":{"rendered":"<p>\u5173\u4e8e\u5bf9\u51b2\u7684\u7b80\u8981\u4fe1\u606f<\/p>\n<p>\u5728\u91d1\u878d\u5e02\u573a\u80cc\u666f\u4e0b\uff0c\u5bf9\u51b2\u662f\u6307\u6295\u8d44\u8005\u548c\u4f01\u4e1a\u666e\u904d\u91c7\u7528\u7684\u98ce\u9669\u7ba1\u7406\u7b56\u7565\u3002\u5b83\u6d89\u53ca\u4f7f\u7528\u7279\u5b9a\u7684\u91d1\u878d\u5de5\u5177\u6216\u8d44\u4ea7\u6765\u62b5\u6d88\u53e6\u4e00\u9879\u6295\u8d44\u6216\u8d44\u4ea7\u7684\u6f5c\u5728\u635f\u5931\u6216\u6536\u76ca\u3002\u5bf9\u51b2\u7b56\u7565\u65e8\u5728\u51cf\u5c11\u4e0d\u5229\u4ef7\u683c\u53d8\u52a8\u7684\u5f71\u54cd\uff0c\u4ece\u800c\u63d0\u4f9b\u4e00\u5b9a\u7a0b\u5ea6\u7684\u9488\u5bf9\u5e02\u573a\u6ce2\u52a8\u7684\u4fdd\u62a4\u3002<\/p>\n<h2>\u5173\u4e8e\u5bf9\u51b2\u7684\u8be6\u7ec6\u4fe1\u606f<\/h2>\n<p>\u5bf9\u51b2\u7b56\u7565\u662f\u73b0\u4ee3\u91d1\u878d\u5e02\u573a\u4e0d\u53ef\u6216\u7f3a\u7684\u4e00\u90e8\u5206\uff0c\u4f7f\u53c2\u4e0e\u8005\u80fd\u591f\u7ba1\u7406\u98ce\u9669\u5e76\u4f18\u5316\u56de\u62a5\u3002\u8fd9\u4e9b\u7b56\u7565\u968f\u7740\u65f6\u95f4\u7684\u63a8\u79fb\u800c\u53d1\u5c55\uff0c\u5982\u4eca\uff0c\u5b83\u4eec\u6db5\u76d6\u4e86\u5e7f\u6cdb\u7684\u5de5\u5177\u548c\u6280\u672f\u3002\u5bf9\u51b2\u7684\u4e3b\u8981\u76ee\u6807\u662f\u901a\u8fc7\u51cf\u5c11\u4e0d\u5fc5\u8981\u6216\u610f\u5916\u7684\u5e02\u573a\u6ce2\u52a8\u98ce\u9669\u6765\u4fdd\u62a4\u6295\u8d44\u3002<\/p>\n<h2>Hedge\u7684\u4e3b\u8981\u7279\u5f81\u5206\u6790<\/h2>\n<p>\u4e3a\u4e86\u66f4\u597d\u5730\u7406\u89e3\u5bf9\u51b2\u7684\u6982\u5ff5\uff0c\u6709\u5fc5\u8981\u6df1\u5165\u7814\u7a76\u5176\u4e3b\u8981\u7279\u5f81\uff1a<\/p>\n<ol>\n<li>\n<p><strong>\u98ce\u9669\u7f13\u89e3\uff1a<\/strong> \u5bf9\u51b2\u7b56\u7565\u7684\u4e3b\u8981\u76ee\u7684\u662f\u964d\u4f4e\u98ce\u9669\u3002\u901a\u8fc7\u91c7\u7528\u5bf9\u51b2\uff0c\u6295\u8d44\u8005\u53ef\u4ee5\u4fdd\u62a4\u5176\u6295\u8d44\u7ec4\u5408\u514d\u53d7\u4e0d\u5229\u5e02\u573a\u6ce2\u52a8\u7684\u5f71\u54cd\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u591a\u6837\u5316\uff1a<\/strong> \u5bf9\u51b2\u7b56\u7565\u901a\u5e38\u6d89\u53ca\u4e0d\u540c\u8d44\u4ea7\u6216\u8d44\u4ea7\u7c7b\u522b\u7684\u591a\u5143\u5316\u6295\u8d44\u3002\u8fd9\u79cd\u591a\u5143\u5316\u6709\u52a9\u4e8e\u5206\u6563\u98ce\u9669\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u6210\u672c\u548c\u6743\u8861\uff1a<\/strong> \u5bf9\u51b2\u53ef\u80fd\u4f1a\u4ea7\u751f\u76f8\u5173\u6210\u672c\uff0c\u4f8b\u5982\u4ea4\u6613\u8d39\u7528\u6216\u4e3a\u671f\u6743\u5408\u7ea6\u652f\u4ed8\u7684\u6ea2\u4ef7\u3002\u6295\u8d44\u8005\u5fc5\u987b\u6743\u8861\u8fd9\u4e9b\u6210\u672c\u4e0e\u6f5c\u5728\u6536\u76ca\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u5b9a\u5236\uff1a<\/strong> \u5bf9\u51b2\u7b56\u7565\u53ef\u4ee5\u6839\u636e\u7279\u5b9a\u7684\u98ce\u9669\u72b6\u51b5\u548c\u6295\u8d44\u76ee\u6807\u8fdb\u884c\u5b9a\u5236\u3002\u6ca1\u6709\u4e00\u79cd\u653e\u4e4b\u56db\u6d77\u800c\u7686\u51c6\u7684\u5bf9\u51b2\u65b9\u6cd5\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u6d41\u52a8\u6027\u7ba1\u7406\uff1a<\/strong> \u5bf9\u51b2\u8fd8\u53ef\u4ee5\u5e2e\u52a9\u7ba1\u7406\u6d41\u52a8\u6027\u9700\u6c42\u3002\u4ed6\u4eec\u53ef\u4ee5\u5728\u9700\u8981\u65f6\u63d0\u4f9b\u8d44\u91d1\u6765\u6e90\u3002<\/p>\n<\/li>\n<\/ol>\n<h2>\u5bf9\u51b2\u7684\u7c7b\u578b<\/h2>\n<p>\u5bf9\u51b2\u7b56\u7565\u6709\u591a\u79cd\u7c7b\u578b\uff0c\u6bcf\u79cd\u7b56\u7565\u90fd\u65e8\u5728\u89e3\u51b3\u7279\u5b9a\u7684\u98ce\u9669\u56e0\u7d20\u3002\u4ee5\u4e0b\u662f\u4e00\u4e9b\u5e38\u89c1\u7684\u7c7b\u578b\uff1a<\/p>\n<table>\n<thead>\n<tr>\n<th>\u5bf9\u51b2\u7c7b\u578b<\/th>\n<th>\u63cf\u8ff0<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><strong>\u671f\u8d27\u5bf9\u51b2<\/strong><\/td>\n<td>\u6d89\u53ca\u4f7f\u7528\u671f\u8d27\u5408\u7ea6\u6765\u62b5\u6d88\u4ef7\u683c\u98ce\u9669\u3002<\/td>\n<\/tr>\n<tr>\n<td><strong>\u671f\u6743\u5bf9\u51b2<\/strong><\/td>\n<td>\u4f7f\u7528\u671f\u6743\u5408\u7ea6\u6765\u9632\u8303\u4e0d\u5229\u8d70\u52bf\u3002<\/td>\n<\/tr>\n<tr>\n<td><strong>\u8d27\u5e01\u5bf9\u51b2<\/strong><\/td>\n<td>\u964d\u4f4e\u56fd\u9645\u8d38\u6613\u4e2d\u7684\u5916\u6c47\u98ce\u9669\u3002<\/td>\n<\/tr>\n<tr>\n<td><strong>\u5546\u54c1\u5bf9\u51b2<\/strong><\/td>\n<td>\u9632\u6b62\u5546\u54c1\u5e02\u573a\u4ef7\u683c\u6ce2\u52a8\u3002<\/td>\n<\/tr>\n<tr>\n<td><strong>\u5229\u7387\u5bf9\u51b2<\/strong><\/td>\n<td>\u7ba1\u7406\u8d37\u6b3e\u548c\u6295\u8d44\u7684\u5229\u7387\u98ce\u9669\u3002<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>Hedge\u7684\u4f7f\u7528\u65b9\u6cd5\u3001\u4f7f\u7528\u8fc7\u7a0b\u4e2d\u51fa\u73b0\u7684\u95ee\u9898\u53ca\u89e3\u51b3\u65b9\u6cd5<\/h2>\n<h3>\u4f7f\u7528\u5bf9\u51b2\u7684\u65b9\u6cd5<\/h3>\n<ol>\n<li><strong>\u6295\u8d44\u7ec4\u5408\u4fdd\u62a4\uff1a<\/strong> \u6295\u8d44\u8005\u5229\u7528\u5bf9\u51b2\u6765\u4fdd\u62a4\u5176\u6295\u8d44\u7ec4\u5408\u514d\u53d7\u5e02\u573a\u4f4e\u8ff7\u7684\u5f71\u54cd\u3002<\/li>\n<li><strong>\u63a8\u6d4b\uff1a<\/strong> \u4e00\u4e9b\u6295\u8d44\u8005\u4f7f\u7528\u5bf9\u51b2\u6280\u672f\u6765\u63a8\u6d4b\u4ef7\u683c\u53d8\u52a8\uff0c\u540c\u65f6\u9650\u5236\u6f5c\u5728\u635f\u5931\u3002<\/li>\n<li><strong>\u964d\u4f4e\u98ce\u9669\uff1a<\/strong> \u4f01\u4e1a\u901a\u5e38\u4f1a\u9488\u5bf9\u4e0d\u5229\u7684\u8d27\u5e01\u6ce2\u52a8\u6216\u5927\u5b97\u5546\u54c1\u4ef7\u683c\u7684\u6ce2\u52a8\u8fdb\u884c\u5bf9\u51b2\uff0c\u4ee5\u7a33\u5b9a\u6210\u672c\u3002<\/li>\n<\/ol>\n<h3>\u95ee\u9898\u4e0e\u89e3\u51b3\u65b9\u6848<\/h3>\n<ul>\n<li><strong>\u8fc7\u5ea6\u5bf9\u51b2\uff1a<\/strong> \u8fc7\u5ea6\u5bf9\u51b2\u53ef\u80fd\u4f1a\u9650\u5236\u6f5c\u5728\u6536\u76ca\u3002\u53d6\u5f97\u5e73\u8861\u81f3\u5173\u91cd\u8981\u3002<\/li>\n<li><strong>\u4ea4\u6613\u5bf9\u624b\u98ce\u9669\uff1a<\/strong> \u5728\u67d0\u4e9b\u60c5\u51b5\u4e0b\uff0c\u5bf9\u51b2\u53d6\u51b3\u4e8e\u4ea4\u6613\u5bf9\u624b\u7684\u53ef\u9760\u6027\u3002\u591a\u5143\u5316\u53ef\u4ee5\u51cf\u8f7b\u8fd9\u79cd\u98ce\u9669\u3002<\/li>\n<li><strong>\u590d\u6742\uff1a<\/strong> \u5bf9\u51b2\u53ef\u80fd\u5f88\u590d\u6742\u3002\u5bfb\u6c42\u4e13\u5bb6\u5efa\u8bae\u53ef\u4ee5\u5e2e\u52a9\u89e3\u51b3\u9519\u7efc\u590d\u6742\u7684\u95ee\u9898\u3002<\/li>\n<\/ul>\n<h2>\u4e3b\u8981\u7279\u70b9\u53ca\u4e0e\u540c\u7c7b\u672f\u8bed\u7684\u5176\u4ed6\u6bd4\u8f83<\/h2>\n<p>\u4e3a\u4e86\u533a\u5206\u5bf9\u51b2\u548c\u76f8\u5173\u6982\u5ff5\uff0c\u6211\u4eec\u5c06\u5176\u4e0e\u4e00\u4e9b\u7c7b\u4f3c\u672f\u8bed\u8fdb\u884c\u6bd4\u8f83\uff1a<\/p>\n<table>\n<thead>\n<tr>\n<th>\u7279\u5f81<\/th>\n<th>\u6811\u7bf1<\/th>\n<th>\u6295\u673a<\/th>\n<th>\u6295\u8d44<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><strong>\u4e3b\u8981\u610f\u56fe<\/strong><\/td>\n<td>\u98ce\u9669\u7f13\u89e3<\/td>\n<td>\u5229\u6da6\u6700\u5927\u5316<\/td>\n<td>\u8d22\u5bcc\u79ef\u7d2f<\/td>\n<\/tr>\n<tr>\n<td><strong>\u98ce\u9669\u7b49\u7ea7<\/strong><\/td>\n<td>\u4f4e\u5230\u4e2d\u7b49<\/td>\n<td>\u9ad8\u7684<\/td>\n<td>\u4e2d\u5230\u9ad8<\/td>\n<\/tr>\n<tr>\n<td><strong>\u65f6\u95f4\u8303\u56f4<\/strong><\/td>\n<td>\u77ed\u671f\u5230\u957f\u671f<\/td>\n<td>\u77ed\u671f\u5230\u957f\u671f<\/td>\n<td>\u957f\u671f<\/td>\n<\/tr>\n<tr>\n<td><strong>\u591a\u6837\u5316<\/strong><\/td>\n<td>\u5e38\u89c1\u7684<\/td>\n<td>\u4e0d\u5e38\u89c1<\/td>\n<td>\u5e38\u89c1\u7684<\/td>\n<\/tr>\n<tr>\n<td><strong>\u5ba2\u89c2\u7684<\/strong><\/td>\n<td>\u6700\u5927\u9650\u5ea6\u5730\u51cf\u5c11\u635f\u5931<\/td>\n<td>\u6536\u76ca\u6700\u5927\u5316<\/td>\n<td>\u4ea7\u751f\u56de\u62a5<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>\u4e0e\u5bf9\u51b2\u76f8\u5173\u7684\u672a\u6765\u524d\u666f\u548c\u6280\u672f<\/h2>\n<p>\u5bf9\u51b2\u7b56\u7565\u7684\u672a\u6765\u4e0e\u6280\u672f\u548c\u91d1\u878d\u521b\u65b0\u7684\u8fdb\u6b65\u5bc6\u5207\u76f8\u5173\u3002\u4ee5\u4e0b\u662f\u4e00\u4e9b\u6f5c\u5728\u7684\u53d1\u5c55\uff1a<\/p>\n<ol>\n<li>\n<p><strong>\u7b97\u6cd5\u4ea4\u6613\uff1a<\/strong> \u6267\u884c\u5bf9\u51b2\u7b56\u7565\u7684\u5148\u8fdb\u7b97\u6cd5\u7684\u4f7f\u7528\u9884\u8ba1\u5c06\u4f1a\u589e\u957f\uff0c\u4ece\u800c\u5b9e\u73b0\u66f4\u5feb\u3001\u66f4\u7cbe\u786e\u7684\u5bf9\u51b2\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u6570\u636e\u5206\u6790\uff1a<\/strong> \u589e\u5f3a\u7684\u6570\u636e\u5206\u6790\u5de5\u5177\u5c06\u63d0\u4f9b\u5bf9\u5e02\u573a\u8d8b\u52bf\u7684\u66f4\u6df1\u5165\u7684\u6d1e\u5bdf\uff0c\u6709\u52a9\u4e8e\u8bc6\u522b\u5bf9\u51b2\u673a\u4f1a\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u533a\u5757\u94fe\u6280\u672f\uff1a<\/strong> \u533a\u5757\u94fe\u5e73\u53f0\u4e0a\u7684\u667a\u80fd\u5408\u7ea6\u53ef\u4ee5\u5f7b\u5e95\u6539\u53d8\u884d\u751f\u54c1\u4ea4\u6613\uff0c\u63d0\u4f9b\u900f\u660e\u548c\u81ea\u52a8\u5316\u7684\u5bf9\u51b2\u89e3\u51b3\u65b9\u6848\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u73af\u5883\u3001\u793e\u4f1a\u548c\u6cbb\u7406 (ESG) \u5bf9\u51b2\uff1a<\/strong> \u968f\u7740 ESG \u8003\u8651\u56e0\u7d20\u65e5\u76ca\u7a81\u51fa\uff0c\u4ee5 ESG \u4e3a\u91cd\u70b9\u7684\u5bf9\u51b2\u7b56\u7565\u53ef\u80fd\u4f1a\u589e\u52a0\u3002<\/p>\n<\/li>\n<\/ol>\n<h2>\u5982\u4f55\u4f7f\u7528\u4ee3\u7406\u670d\u52a1\u5668\u6216\u5c06\u5176\u4e0e Hedge \u5173\u8054<\/h2>\n<p>\u4ee3\u7406\u670d\u52a1\u5668\u5728\u91d1\u878d\u9886\u57df\u53d1\u6325\u7740\u91cd\u8981\u4f5c\u7528\uff0c\u5305\u62ec\u5bf9\u51b2\u57fa\u91d1\u7ba1\u7406\u3002\u4ee5\u4e0b\u662f\u5b83\u4eec\u7684\u4f7f\u7528\u65b9\u5f0f\u6216\u4e0e\u5bf9\u51b2\u6d3b\u52a8\u7684\u5173\u8054\u65b9\u5f0f\uff1a<\/p>\n<ol>\n<li>\n<p><strong>\u98ce\u9669\u7ba1\u7406\uff1a<\/strong> \u5bf9\u51b2\u57fa\u91d1\u548c\u91d1\u878d\u673a\u6784\u7ecf\u5e38\u4f7f\u7528\u4ee3\u7406\u670d\u52a1\u5668\u6765\u4fdd\u62a4\u5176\u654f\u611f\u6570\u636e\u548c\u901a\u4fe1\uff0c\u4ece\u800c\u964d\u4f4e\u6570\u636e\u6cc4\u9732\u7684\u98ce\u9669\u3002<\/p>\n<\/li>\n<li>\n<p><strong>\u5e02\u573a\u8c03\u67e5\uff1a<\/strong> 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