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Essays On The Crude Palm Oil Futures Market
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Book Synopsis Essays on the Crude Palm Oil Futures Market by : Norzalina Ahmad
Download or read book Essays on the Crude Palm Oil Futures Market written by Norzalina Ahmad and published by . This book was released on 2012 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis contributes to the existing literature by presenting the substantive essays on the Malaysian CPO futures market. In the first essay, the market efficiency test for the long-run, short-run and relative efficiency is applied under both open-outcry and electronic trading systems in the Malaysian Derivatives Markets. The findings reveal that the Malaysian CPO futures market is efficient in the long-run but inefficient in the short-run for both trading systems. The relative efficiency ratio test suggests that the level of inefficiency is higher in the electronic trading system and tends to increase with time to maturity. The second essay examines price discovery by utilizing the cost-of-carry model with incorporating an endogenously convenience yield. This model also is able to detect the market characteristics whether in backwardation or contango. The main result shows that the futures price is the main contributor to the price discovery function in the Malaysian CPO market. Furthermore, the long-run backwardation is significantly exist in the CPO futures market. Another finding reveals the positive CPO convenience yields and its value increases with time to maturity. The third and final essay explores the long memory properties of futures-spot basis and interest cost on market efficiency. The empirical result shows that the CPO futures basis can be characterised by both long memory and structural breaks. Moreover, the interest cost also shows the evidence of the long memory component. These findings are not consistent with unbiasedness hypothesis and therefore, past prices can be used to predict the future spot price. A new finding reveals that the level of persistence in futures basis and interest cost, increases when time to maturity increases.
Book Synopsis Two Essays on Crude Oil Futures and Options Markets by : Bingxin Li
Download or read book Two Essays on Crude Oil Futures and Options Markets written by Bingxin Li and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of two essays on crude oil futures and options markets. The first essay investigates whether aggregate risk aversion and risk premiums in the crude oil market co-vary with the level of speculation. Using crude oil futures and option data, I estimate aggregate risk aversion in the crude oil market and find that it is signi ficantly lower after 2002, when speculative activity started to increase. Using speculation index as a state variable, risk premiums implied by the state-dependent risk aversion estimates confi rm the negative correlation between speculative activity and risk premiums, and indicate that risk premiums in the crude oil market are on average lower and more volatile after 2002. These findings suggest that index-fund investors who demand commodity futures for the purpose of portfolio diversi fication are willing to accept lower compensation for their positions. Estimated state-dependent risk premiums have substantial predictive power for subsequent futures returns and outperform commonly used predictors. The second essay exams the economic importance of jumps, jump risk premiums, and dynamic jump intensities in crude oil futures and options markets. Existing pricing models for crude oil options are computationally intensive due to the presence of latent state variables. Using a panel data of crude oil futures and options, I implement a class of computationally e fficient discrete-time jump models. I find that jumps account for about half of the total variance in crude oil futures and options prices, and a substantial part of the risk premiums is due to jumps. Jumps are large and rare events in crude oil futures and options markets. The main role of jumps and jump risk premiums in crude oil futures and options markets is to capture excess kurtosis in the data. These findings suggest that it is critical to include jumps in pricing models for crude oil futures and options, and there is strong evidence in favor of time-varying jump intensities.
Book Synopsis Two Essays on Oil Futures Markets by : Iman Adeinat
Download or read book Two Essays on Oil Futures Markets written by Iman Adeinat and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Modeling Dependence in Econometrics by : Van-Nam Huynh
Download or read book Modeling Dependence in Econometrics written by Van-Nam Huynh and published by Springer Science & Business Media. This book was released on 2013-11-18 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt: In economics, many quantities are related to each other. Such economic relations are often much more complex than relations in science and engineering, where some quantities are independence and the relation between others can be well approximated by linear functions. As a result of this complexity, when we apply traditional statistical techniques - developed for science and engineering - to process economic data, the inadequate treatment of dependence leads to misleading models and erroneous predictions. Some economists even blamed such inadequate treatment of dependence for the 2008 financial crisis. To make economic models more adequate, we need more accurate techniques for describing dependence. Such techniques are currently being developed. This book contains description of state-of-the-art techniques for modeling dependence and economic applications of these techniques. Most of these research developments are centered around the notion of a copula - a general way of describing dependence in probability theory and statistics. To be even more adequate, many papers go beyond traditional copula techniques and take into account, e.g., the dynamical (changing) character of the dependence in economics.
Book Synopsis Parliamentary Papers by : Great Britain. Parliament. House of Commons
Download or read book Parliamentary Papers written by Great Britain. Parliament. House of Commons and published by . This book was released on 1920 with total page 1132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Social impacts of oil palm in Indonesia by : Tania Murray Li
Download or read book Social impacts of oil palm in Indonesia written by Tania Murray Li and published by CIFOR. This book was released on 2015-05-07 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil palm plantations and smallholdings are expanding massively in Indonesia. Proponents highlight the potential for job creation and poverty alleviation, but scholars are more cautious, noting that social impacts of oil palm are not well understood. This report draws upon primary research in West Kalimantan to explore the gendered dynamics of oil palm among smallholders and plantation workers. It concludes that the social and economic benefits of oil palm are real, but restricted to particular social groups. Among smallholders in the research area, couples who were able to sustain diverse farming systems and add oil palm to their repertoire benefited more than transmigrants, who had to survive on limited incomes from a 2-ha plot.
Book Synopsis Sessional Papers by : Great Britain. Parliament. House of Commons
Download or read book Sessional Papers written by Great Britain. Parliament. House of Commons and published by . This book was released on 1903 with total page 738 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hong Kong Economic Papers written by and published by . This book was released on 1996 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Platinum Essays in the Philosophy of Applied Economics of Development by : Herbert Onye Orji
Download or read book Platinum Essays in the Philosophy of Applied Economics of Development written by Herbert Onye Orji and published by AuthorHouse. This book was released on 2011-09 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, Platinum Essays In The Philosophy Of Applied Economics Of Development, is a collection of interrelated and interconnected essays on applied economics of development with underlying philosophy contents. The topic and areas of coverage were carefully chosen to comprehensively reflect a mandatory range of issues, germane to the understanding, teaching, research, publication and practice of applied economics of development, particularly in medium-to low income emerging markets. There are twenty one chapters each with a topic of major developmental significance in applied economics. Based on the clear and lucid underlying philosophical statements, the broad scope of the applied definitions, analytical and descriptive review of relevant modern and dated literatures, germane to the discourse, observations, recommendations, conclusions and range of ease or otherwise of policy implementations, the key objectives of the book have been achieved.
Book Synopsis The non-industrial palm oil sector in Cameroon by : Raymond Ndip Nkongho
Download or read book The non-industrial palm oil sector in Cameroon written by Raymond Ndip Nkongho and published by CIFOR. This book was released on 2014-07-15 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil palm (Elæis guineensis Jacq.) is not new to Cameroon, since it is indigenous to the countries bordering the Gulf of Guinea. People in the rainforest region of Cameroon used to harvest fresh fruit bunches (FFB) from the wild dura variety to produce palm oil and kernel oil, and fell and tap old stands of both dura and pisifera varieties to produce palm wine, which is a much cherished liquor. The hybrid tenera oil palm variety produces the highest yield -up to eight times more- compared to other vegetable oil crops like soybean, sunflower or rapeseed (Mathew et al. 2007; Feintrenie and Rafflegeau 2012; Jacquemard 2012).
Book Synopsis Selected Papers from Coastlab18 Conference by : Javier López Lara
Download or read book Selected Papers from Coastlab18 Conference written by Javier López Lara and published by MDPI. This book was released on 2020-07-01 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents 16 selected papers from the 7th International Conference on The Application of Physical Modelling in Coastal and Port Engineering and Science, Coastlab18. The conference was organized in Santander, Spain, from 22 to 26 May, 2018, by the Instituto de Hidráulica Ambiental de la Universidad de Cantabria, IHCantabria. Coastlab18 welcomed 175 attendees from 18 different countries. The technical program included three renowned keynote lectures and 120 presentations focused on theoretical and practical aspects related to physical modelling in the field of coastal and ocean engineering. Coastal and ocean structures, breakwaters, revetments, laboratory technologies, measurement systems, coastal field measurement and monitoring, combined physical and numerical modelling, physical modelling case studies, tsunamis, and coastal hydrodynamics were the main topics covered in the conference. This book attempts to cover, as completely as possible, all the topics presented during the conference. The papers were accepted after a peer-review process based on their full text.
Book Synopsis The Palm Oil Controversy in Southeast Asia by : Oliver Pye
Download or read book The Palm Oil Controversy in Southeast Asia written by Oliver Pye and published by Institute of Southeast Asian Studies. This book was released on 2013 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book is a compilation of papers first presented at the workshop "The palm oil controversy in transnational perspective" that took place in Singapore, 2-4 March 2009. The workshop was jointly organized by the Institute of Oriental and Asian Studies, Rheinische Friedrich-Wilhelms-Universit'at, Bonn and the Institute of Southeast Asian Studies (ISEAS), Singapore. It was funded by Asia-Europe Foundation (ASEF)"--Preface.
Book Synopsis Records of the Proceedings and Printed Papers of the Parliament by : Australia. Parliament
Download or read book Records of the Proceedings and Printed Papers of the Parliament written by Australia. Parliament and published by . This book was released on 1906 with total page 1830 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :145197423X Total Pages :128 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff Papers, Volume 47, No. 2 by : International Monetary Fund. Research Dept.
Download or read book IMF Staff Papers, Volume 47, No. 2 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2000-01-01 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes portfolio diversification, leverage, and financial contagion. It studies the extent to which basic principles of portfolio diversification explain “contagious selling” of financial assets when there are purely local shocks. The paper demonstrates that the elementary portfolio theory offers key insights into “contagion.” Most important, portfolio diversification and leverage are sufficient to explain why an investor will find it optimal to significantly reduce all risky asset positions when an adverse shock impacts just one asset.
Book Synopsis Artisanal Milling of Palm Oil in Cameroon by : Yvonne K. Nchanji
Download or read book Artisanal Milling of Palm Oil in Cameroon written by Yvonne K. Nchanji and published by CIFOR. This book was released on with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study was carried out in three major palm-oil producing areas in Cameroon with the aim of investigating the artisanal milling and commercialization of red palm oil. Structured and semi-structured questionnaires were administered; focus group discussions and participatory observation were applied to obtain required information. Those involved were identified and the service providers ranged from mill owners or managers to smallholders and intermediaries, some of which were involved in two or three of the services. All told, 83% of those involved were men, and the women represented 17% of the service providers. Six different types of processing equipment were identified in the production areas and it was revealed that semi-automated press and combined motorized hydraulic digester and press system (digester screw press) were the most efficient. After harvesting of fresh fruit bunches (FFBs), the major operations were: chopping or cutting, stripping, selecting and sieving, loading to drums for boiling, off-loading to the digester or press for crushing and/or pressing, and clarifying of palm oil. Family labor, hired labor or both, contributed greatly to the success of the milling operations. Family labor was not paid, but motivations were given to family members, while hired labor was paid per activity. The average cost of labor per ton of FFB in the study area was 8,812 FCFA for both peak and low seasons. The average net return in the processing and marketing of 1 ton of FFB was 32,207 FCFA in peak season and 46,556 FCFA in low season. This income-generating activity was ranked as the first main source of income in the study area and has valuable contributions in household livelihood. The production of palm kernel oil and local soap was also recorded in the area, but this was mainly for home use and not for sale. Poor accessibility and unstable prices were the main constraints in the production process. While the men were dominant in processing, women were dominant in the commercialization of RPO. Artisanal palm-oil milling is a lucrative business in the area and will go a long way to alleviate poverty if the smallholders could come together and form a dynamic scheme.
Book Synopsis IMF Staff Papers, Volume 49, No. 2 by : Mr.Robert P. Flood
Download or read book IMF Staff Papers, Volume 49, No. 2 written by Mr.Robert P. Flood and published by International Monetary Fund. This book was released on 2002-07-11 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores sources of the output collapse in Russia during transition. A modified growth-accounting framework is developed that takes into account changes in factor utilization that are typical of the transition process. The results indicate that declines in factor inputs and productivity were both important determinants of the output fall. The paper analyzes the behavior of real commodity prices over the 1862–1999 progress. It also examines whether average stocks of health and education are converging across countries, and calculates the speed of their convergence using data from 84 countries for 1970–90.
Book Synopsis The Oxford Handbook of Hedge Funds by : Douglas Cumming
Download or read book The Oxford Handbook of Hedge Funds written by Douglas Cumming and published by Oxford University Press. This book was released on 2021-10-26 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Hedge Funds provides a comprehensive overview of the hedge fund industry from a global perspective, bringing together insights from theoretical and applied research. The book seeks to both introduce the industry and what it does to scholars and practitioners new to the area, and to provide more advanced insights to those with extensive expertise in the area. The handbook explains the main context in which hedge funds operate, how the raise capital, and their structure and governance. It evaluates the main factors that have affected the operation of hedge funds, including competition from mutual funds, the market environment, and financial regulation, explains key concepts such as hedge fund flows, and core issues of practice, such as hedge fund manager fees. This volume provides insights into the principle head fund strategies and how these have changed over the years. The behavioural dimensions of hedge fund behaviour are evaluated, as are fintech's consequences. The volume evaluates the effects of hedge funds on the firms they invest in, in terms of internal governance, strategy and practice. Furthermore, it explores a range of ethical issues around the operation of hedge funds, how they fit within the wider political economy, and changes in hedge fund regulation and taxation strategies.
