Empirical Analysis On The Function Of Cotton Futures Market And Senses On The Correlative Industry

After china went into world trade organization,more and more companies in correlative cotton industry are facing the international competition and price risk. Cotton futures market gives these companies a way of transferring price risk through hedge. To know how is the pricing model and market function of cotton futures market, it's very important to evade price risk.This thesis has made an empirical analysis on the market function of cotton futures in Zhengzhou Commodity Exchange by knowing the main influence factors of cotton futures market,using some methods such as correlation analysis,regression analysis,Granger test of causality etc,especially on the hedge function and price finding function. Research finds out,CCIndex which represent the cotton spot price and ZCE-0,ZCE-1,ZCE-2,ZCE-3 which represent the cotton futures price has...