Apply Compound Options in Logistics Enterprise Risk Management
| Autor: | Chien-Ming Cho, 卓見明 |
|---|---|
| Rok vydání: | 2014 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 102 The compound option is an option that takes the option contract as the underlying asset. The compound options can be classified into a call on a call, a put on a call, a call on a put, and a put on a put according to the type of exercise right associated with compound option itself and underlying option. The compound options presented by this study should be attributed to a long strangle option that combined by a call option and a put option. In the trend to globalization, the main issue of company is how to enhance the company's core competence. However, logistics management has faced many decisions. Because of the transport costs account for the highest proportion of the costs of logistics, the delivery of goods from a warehouse to downstream firm is an important and practical problem of a logistics manager. When the total demand is greater than the whole capacity of owned trucks, the logistics managers may consider using an outsider carrier. Therefore, the purpose of this paper is to develop the option to help the demand-driven manufacturing hedge the future demand uncertain risk. That hedge the risk when shipments over its own fleet limit or below the cost equilibrium point, and using compound option to hedge the transport risk of Logistics Company. The compound option also could offer the effectiveness of economizing the hedging cost. Based on the results of empirical study, the compound options have fulfilled the purpose of capacity hedge. Furthermore, they indeed reducing the hedging cost. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
| Externí odkaz: |
|