When BIFFEX (Baltic International Freight Futures Exchange) came ijnto existence in 1985, many critics were perssimistic that it would have a successful future. In spite of the eight year's surival of BIFFEX, a recent empirical study shows that BIFFEX is not widely used a s a hedging tool ijn the shipping community, unlike the expectations and recommendations of many experts. one reason could be that BIFFEX may not be considered peredictive of the physical market and, therefore, investors might be suspicious of the hedging effect. The objective of this paper is to test this argument by exdamining the predicatability of BIFFEX in the dry bulk shipping market up to six months. Prior to the real situation, the explainable power ranges from 90% in a one-month advance to 23% in a six-month advance.
Predictability of the dry bulk shipping market by BIFFEX
Maritime Policy & Management ; 23 , 2 ; 103-114
01.01.1996
Aufsatz (Zeitschrift)
Elektronische Ressource
Unbekannt
Predictability of the dry bulk shipping market by BIFFEX
Online Contents | 1996
|Springer Verlag | 2023
|Bulk shipping - a market overview
British Library Conference Proceedings | 1991
|Shipping investor sentiment and international stock return predictability
Online Contents | 2016
|Dry bulk shipping market inefficiency, the wide perspective
Online Contents | 2007
|