国际干散货ffa市场的信息传递效应的研究

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1、TheresearchoninformationtransmiSSionofinternationaIdrybuIkFFAmarketAbstractInformationtransmissioniSthatinthetwoormoreconnectedorganizations，one’Schangesareabletotransfertotheotheronethroughallkindsofwaysandresultinthechange，whenthenewchangealSOcouldhavean

2、effectontheoriginalone，wecallittwo—wayinformationtransmission：whenthelattereffectdoesnotexist，wecallitone—wayinformationtransmission．IntheconditionofglobalizationandFinancialintegration，withthedevelopmentofinternationaltradeandfinance；therateofreturnsandfl

3、uctuationofShippingmarketnotonlyaffectedbylastvalueofitself，butalSOaffectedbyfactorsinothermarkets．thiSphenomenoniScalledinformationaltransmissioneffect．IntheInternationalshippingmarket，oursneedtotransportationcapacityiSincreasingwiththedevelopmentofnation

4、aleconomics，yetthepartofselfsatisfactioniSverysmall，therestmustbeboughtfrominternationalshippingmarket，asaresult，severepricevolatilityinthemarketwi1haveseriOUSeffectonournationaleconomics．onthepresentmarket，enterprisesbuystockfromtheshippingmarketignoringt

5、heforwardmarket，yetforwardmarketvolatilityiStheexpectationtothespotmarketvolatilityinthefuture，aftercarefulanalysiS，enterprisescanforecastfuture’Schangeinthespotmarket．toourenterprises，theycanmakefulluseofthiSphenomenonintheforwardmarkettodecreasetheriskin

6、thespotmarket．articlehaveastudyonthevolatilityspilloverbetweenforwardmarketandspotmarketwithinrouteswithqualitativeandquantitativemethods：thequalitativemethodsaregrangertestandImpulseresponse：thequantitativemethodsarehamaoandEGARCHmodels，inwhichweuseAmarke

7、t’meanerrorasavariablesofBvarianceequationtohaveainspectationofvolatilityspilloverbetweenspotandforwardmarket．Throughcombinationuseofqualitativeandquantitativemodels，wecanhaveagooddescriptionofinformationvolatilitybetweenspotandforwardmarketTherouteswestud

8、ymainlyareC3C5C4C4TC，theformertwoarerelatedtoourcountryclosely，therestareconnectedwithEuropeclosely．thetimeiSfrom2006toendof2010．thearticlehaveastudyoninformationtransmissioneffectbetweenforwardmarketandspotm