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Advisor(s)
Abstract(s)
Num ambiente económico cada vez mais incerto, uma maior necessidade de
conhecimento por parte dos investidores, e adequada utilização de ferramentas para
cobertura de riscos, são fatores que impulsionam o desenvolvimento e a inovação do
mercado de derivados.
Neste contexto, esta dissertação procura perceber o funcionamento do mercado
de derivados, mais concretamente sobre os futuros, e sobre as vantagens que estes
incorporam no funcionamento da economia, ao cobrir riscos das empresas nas suas
atividades económicas.
Segundo Hull “um contrato de futuro é um compromisso de comprar ou vender
um determinado ativo numa data específica no futuro, por um preço previamente
estabelecido” (Hull, J., 1996, pág.1). Nos últimos anos, os mercados de futuros
tornaram-se bastante importantes no mundo das finanças e dos investimentos, e têm
aumentado o número de utilizadores e de aplicações, o que torna necessário que todos
os profissionais de finanças, e não só, compreendam o funcionamento, a sua utilização e
os fatores que afetam a formação dos preços dos futuros.
Nesta da dissertação pretende-se familiarizar o leitor com definições e questões
sobre os futuros, e os vários tipos de futuros existentes, as vantagens da sua utilização e
de que forma pode proporcionar o controlo de risco em possíveis variações de preços, e
como atualmente a contabilidade aborda esta temática.
In an unstable economic environment, where investors need to be more prepared and where became necessary to use financial tools to hedge risks, the development and innovation of the derivatives market gained great importance. In this context, this dissertation approach to study and understand the functioning of the derivatives market, specifically about the futures market and the benefit of his use by companies to cover risks in their business activities. According to Hull "a future contract is a commitment to buy or sell a specific asset at a specific date in the future at a price previously established" (Hull, J., 1996, p.1). In recent years, the futures market have become quite important in the world of finance and investments, and have increased the number of users and applications, which makes necessary for all finance professionals, understand how futures market works such as the factors that affect the price of futures. This dissertation pretends to familiarize the reader with definitions and questions about the futures market, for example, the various types of futures, the advantages of its use and how it can provide risk control on price changes, as the accounting process of this issue.
In an unstable economic environment, where investors need to be more prepared and where became necessary to use financial tools to hedge risks, the development and innovation of the derivatives market gained great importance. In this context, this dissertation approach to study and understand the functioning of the derivatives market, specifically about the futures market and the benefit of his use by companies to cover risks in their business activities. According to Hull "a future contract is a commitment to buy or sell a specific asset at a specific date in the future at a price previously established" (Hull, J., 1996, p.1). In recent years, the futures market have become quite important in the world of finance and investments, and have increased the number of users and applications, which makes necessary for all finance professionals, understand how futures market works such as the factors that affect the price of futures. This dissertation pretends to familiarize the reader with definitions and questions about the futures market, for example, the various types of futures, the advantages of its use and how it can provide risk control on price changes, as the accounting process of this issue.
Description
Dissertação de Mestrado
Apresentado ao Instituto de Contabilidade e Administração do Porto para
a obtenção do grau de Mestre em Contabilidade e Finanças, sob
orientação de Mestre José Carlos Pedro
Keywords
Mercado de futuros Algodão Commodities Derivados Futures market Cotton Commodities Derivatives
Pedagogical Context
Citation
Publisher
Instituto Politécnico do Porto. Instituto Superior de Contabilidade e Administração do Porto