109,468 research outputs found
Commodity Futures Contract Viability: A Multidisciplinary Approach
We propose a development process of commodity futures contracts in which the decisions and wishes of potential customers are investigated simultaneously with the necessary technical properties that need to be met for trading to take place. Within this framework the relationship between trading volume and hedging effectiveness is examined taking both basis risk and market depth risk into account, and the relationship between owner-manager's characteristics and the probability of using futures is examined, taking latent variables and the heterogeneity of owner-managers into account. The relationships are tested on a set of data gathered in a stratified sample of 440 owner-managers by means of computer-assisted personal interviews and on transaction-specific futures data. Structural equation models and multiple regression models are used to validate the relationships. The hedging effectiveness and the variables that play a role in the owner-manager's use of futures are related to the tools of the exchange.Futures Contracts Design; Multidisciplinarity; Hedging Effectiveness; Choice Behavior; Measurement Error; Segments; Futures Exchange Toolbox
Institutional developments in the globalization of securities and futures markets
Futures ; International finance
New types of non-trade related participation in commodity futures markets
This paper explores the growing involvement of new types of non- commodity-sector-related players in commodity futures markets. This includes a discussion on the role of managed funds, the impact of the use of commodity warrants, and the direct involvement of banks. The impact of this new form of "speculation" on the price formation process on commodity futures markets is then examined, and conclusions are drawn as to the use of these markets by commodity sector actors.commodity futures market, futures, options, speculation, market efficiency
Benefits of Computer Based Content Analysis to Foresight
Purpose of the article: The present manuscript summarizes benefits of the use of computer-based content
analysis in a generation phase of foresight initiatives. Possible advantages, disadvantages and limitations of
the content analysis for the foresight projects are discussed as well.
Methodology/methods: In order to specify the benefits and identify the limitations of the content analysis
within the foresight, results of the generation phase of a particular foresight project performed without
and subsequently with the use of computer based content analysis tool were compared by two proposed
measurements.
Scientific aim: The generation phase of the foresight is the most demanding part in terms of analysis duration,
costs and resources due to a significant amount of reviewed text. In addition, the conclusions of the foresight
evaluation are dependent on personal views and perceptions of the foresight analysts as the evaluation is
based merely on reading. The content analysis may partially or even fully replace the reading and provide an
important benchmark.
Findings: The use of computer based content analysis tool significantly reduced time to conduct the foresight
generation phase. The content analysis tool showed very similar results as compared to the evaluation
performed by the standard reading. Only ten % of results were not revealed by the use of content analysis tool.
On the other hand, several new topics were identified by means of content analysis tool that were missed by
the reading.
Conclusions: The results of two measurements should be subjected to further testing within more foresight
projects to validate them. The computer based content analysis tool provides valuable benchmark to the
foresight analysts and partially substitute the reading. However, a complete replacement of the reading is not
recommended, as deep understanding to weak signals interpretation is essential for the foresight
Target Markets for Grain and Cotton Marketing Consultants and Market Information Systems
This paper examines the use of market consultants and market information systems by grain and cotton producers. A model of producer demand for marketing information and consultants is proposed that decomposes price received into exogenous and endogenous components. The analysis is based on a survey of over 1,600 producers. The results suggest that expenditures on market information systems and market consultants are not independent and, more specifically, expenditures on marketing consultants substitute for expenditures on market information systems.expected utility, market information, marketing, risk, Tobit, Marketing,
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