英文文献:Commodity Futures Markets-- Are Changes Needed?
英文文献作者:Wisner, Robert N.
英文文献摘要:
The usefulness of commodity futures markets for hedging is affected by delivery conditions, contract size and related contract details. Impediments to delivery or contract specifications designed primarily for large hedgers can reduce competition in such markets, thus lowering risk-shifting performance under certain conditions. Reduced risk-shifting performance was evident in grain futures markets in 1973.