英文文献:What Drives How Much Crop Producers Sell in Spot, Forward, and Futures Markets?-是什么驱动着农作物生产商在现货、远期和期货市场上的销售?作物生产者有许多可用的营销和风险管理工具
英文文献作者:Franken, Jason R.V.,Pennings, Joost M.E.
英文文献摘要:
Crop producers have numerous marketing and risk management tools available. Research relating producers’ risk attitudes to their use of these tools has produced mixed results, and most studies focus on individual tools to the neglect of complementarities among them. Hence, little is known about the proportion in which these tools are used, e.g., the percentage of the crop that is forward sold as opposed to hedged. This study identifies some factors, including risk attitude, that impact the proportion of corn producers’ sales through spot markets, futures and options, and forward and production contracts using complementary survey and accounting data.
将生产者的风险态度与其使用这些工具联系起来的研究产生了各种结果,而且大多数研究都侧重于个别工具,而忽视了它们之间的互补性。因此,人们对这些工具的使用比例知之甚少,例如远期销售的作物与对冲的作物的比例。本研究利用补充性调查和会计数据,通过现货市场、期货和期权、远期和生产合同确定了一些影响玉米生产者销售比例的因素,包括风险态度。