The Empirical Research on the Economic Function of Chinese Fuel Oil Futures Market

摘要：

Risk aversion and price discovery are the important economic function of the futures market and are important indicators to determine the futures market. In view of fuel oil futures market undertaking the important pioneer task of the Chinese oil futures market, this article took Shanghai fuel oil futures market as the research object. Based on cointegration theory being intrinsically linked to the futures market, the author studied economic function by co-integration model. The results showed that Chinese fuel oil futures market had the function of price discovery and could realize hedging.

关键词： Fuel Oil Futures Risk Aversion Price Discovery

作者: SUN Xiaosu

作者单位: Dept. of Statistics, Shandong Institute of Business and Technology, 264005

会议类型: 国际会议

会议名称: 2011 International Symposium on Technical Innovation of Industrial Transformation and Structural Adjustment(2010 技术创新、产业转型与结构调整国际研讨会)

会议地点: 烟台

会议语种:英文

页码: 211-217

在线出版日期: 2011-08-06（万方平台首次上网日期，不代表论文的发表时间）