In this article, we consider the pricing and hedging of single route dry bulk freight futures contracts traded on the International Maritime Exchange. Thus far, this relatively young market has received almost no academic attention. In contrast to many other commodity markets, freight services are ...
(2012). `Speculation and hedging in the currency futures markets: Are they informative to the spot exchange rates', Journal of Futures Markets 32(2), 122--151.Speculation and hedging in the currency futures markets:Are they informative to the spot exchange rates. Tornell A,Yuan Chunming. ...
However, if preferences exhibit standard risk aversion and the background risk is fully exogenous, the qualitative effect of the added background risk is determinate and depends on the direction of any bias in the futures market. In all cases, the speculative component of the hedge ratio is ...
Speculative and hedging activities in the European Carbon Market We explore the dynamics of the speculative and hedging activities in futures carbon markets by using volume and open interest data. A comparison of the thr... Julio J. Lucia,Maria Mansanet-Bataller,Angel Pardo - International Conferen...
Market Overreaction and Underreaction for Currency Futures Prices Speculation and Hedging in the Currency Futures Markets: Are They Informative to the Spot Exchange Rates. Working paper, UCLA.Wahab, M. & Lashgari, M. (... SJ Larson 被引量: 0发表: 0年 On speculators and hedgers in ...
Hedging is the process of offsetting the risk of price movements in the physical market by locking in a price for the same commodity in the futures market. There are two main motivations for a company to hedge: to lock in a future price which is attractive, relative to an organisation’s...
Often cited as the major economic justification for futures markets, hedging is the act of taking a temporary position in the futures market that is equal to, yet opposite, one's position in the cash market in order to protect that cash position against loss due to unfavorable price ...
In the futures hedging strategy,we assume to minimize the downside risk measured by the lower partial moments(LPM).The general formula which can be used to calculate the short and long optimal ratio are obtained,and optimal hedge ratios how to behave with respect to target rates and orders of...
a套期保值是在现货市场购买,然后在期货市场进行反向操作,以防范价格风险; 而投机既可以在现货市场购买,也可以在期货市场购买,是利用市场价格的变化,做短线交易,以获得利润 The hedge is in the stock market purchase, then carries on the reverse operation in the futures market, guards against the price risk...