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dc.contributor.authorØglend, Atle
dc.contributor.authorStraume, Hans-Martin
dc.date.accessioned2021-05-10T10:49:18Z
dc.date.available2021-05-10T10:49:18Z
dc.date.created2020-01-11T15:38:24Z
dc.date.issued2019
dc.identifier.citationJournal of Futures Markets. 2020; 40 (4), 617– 631.en_US
dc.identifier.issn0270-7314
dc.identifier.urihttps://hdl.handle.net/11250/2754613
dc.description.abstractThis paper uses transaction data to examine hedging efficiency in a new futures exchange; the Fish Pool salmon futures exchange in Norway. The paper utilizes data on firm‐level exporter/importer transaction prices to quantify firm‐level futures hedging efficiency. This allows us to address heterogeneity in hedging efficiency and basis risk at the firm level. The main result of this paper shows that larger firms with greater trade partner diversification have lower basis risk. Such firms align their internal transaction price closer to the common spot price in the market, which encourages greater futures market participation. Results are discussed in light of recent declines in participation in the salmon futures exchange.en_US
dc.language.isoengen_US
dc.publisherWileyen_US
dc.titleFutures market hedging efficiency in a new futures exchange: Effects of trade partner diversificationen_US
dc.typeJournal articleen_US
dc.typePeer revieweden_US
dc.description.versionacceptedVersionen_US
dc.source.pagenumber617– 631en_US
dc.source.volume40en_US
dc.source.journalJournal of futures marketsen_US
dc.source.issue4en_US
dc.identifier.doi10.1002/fut.22088
dc.identifier.cristin1770692
cristin.unitcode158,3,0,0
cristin.unitnameInstitutt for samfunnsøkonomi
cristin.ispublishedtrue
cristin.qualitycode1


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