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政大機構典藏 > 商學院 > 金融學系 > 期刊論文 > Item 140.119/7509

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/7509

Title:	An Evaluation of the Performance of Financial Futures Markets:A Cross Country,Cross Market Study
Authors:	朱浩民 Chu, Hau-Min
Date:	1992
Issue Date:	2008-11-14 12:39:28 (UTC+8)
Abstract:	There are deficiencies of the traditional methods in evaluating the performance of speculative markets. This thesis applies a new welfare measure to evaluate the performance of nine futures markets in five countries. The result shows that different future market behaves differently in different countries. Among them, Japanese and Hong Kong markets have the largest welfare loss. Some common reasons can be attributed to the poor performance of the futures market. Liquidity of the market is needed, however, hedgers must be the main participants of the market. Otherwise, the market is doomed to be volatile. Other market conditions are also important: clear understanding of the instrument, sound risk management, adequate margin, strong enforcement of the regulations, sound market order etc. Unless overcomes these obstacles, there is little chance for a country to have a successful futures market.
Relation:	The Review of Futures Market, 11(3), 295-317 Brown University, ProQuest, UMI Dissertations Publishing, 1992. 9308790. http://search.proquest.com/pqdt/docview/304049709/5C65AC1E68324380PQ/1?accountid=10067
Data Type:	article
Appears in Collections:	[金融學系] 期刊論文

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