汇率与公司利润

汇率的一个重要职能就是价格转换功能，它是形成各种相对价格的基础。汇率变化会通过相对价格的变化而对一个国家的贸易收支状况和公司的价值，利润及其它的财务指标产生较大的影响。本文将探讨汇率变化对进出口企业利润产生的影响。在假定生产厂商追求利润最大化目标的前提下，作者得出了如下的结果：１）对于纯出口型企业，公司利润对汇率的弹性为国外对公司出口产品的需求弹性；２）对于纯进口型企业，公司利润对汇率的弹性为公司进口产品的需求弹性；３）对于进出口型企业，公司利润对汇率的弹性为０，即汇率变化对该类公司利润不产生影响。最后，作者提供了测算进，出口企业利润对汇率弹性的一般方法。

Exchange Rates and the Profits of Firms

An important role of exchange rates is price transfering, which is the foundation of comparative price. The change of exchange rates can affect on the trade account of a country, the value of a firm, the profit of a firm, and other financial items by comparative price. In this paper, we discuss the change of exchange rates affects on the profit of a firm. Under the assumption of maximizing profit, we can get such results as below: 1) For a pure exporting firm, the elasticity of the profit of a firm to exchange rates is just the demand elasticity of exporting products; 2) For a pure importing firm, the elasticity of the profit of a firm to exchange rates is just the demand elasticity of importing products; 3) For a both exporting and importing firm, the elasticity of the profit of a firm to exchange rates is just zero. Finally, we offer the general method of assessing the demand elasticity of both exporting and importing products.