Είναι η αγορά πετρελαίου μια αποτελεσματική αγορά;
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Abstract
The case of the "market efficiency" has been studied for many academic researchers. Generally the term efficient market meant the market in which stock prices fully reflect available information. Regarding the oil market there are many studies that have been made about whether or not it is effective. In this study we try to draw conclusions about the effectiveness of this market through two different analyzes. First we will check whether the spot prices of oil (WTI and Brent) affected by futures prices (contracts of various maturities) and past values of these. If futures prices "explain" the spot prices or respectively if previous prices predict future then the market is not efficient. Then we will check whether the returns on spot prices WTI and Brent are affected by changes in GDP, CPI and the G7 stock price indices of the same countries and the exchange rates $ / € and $ / £. In this case if the returns on spot prices of WTI and Brent affected by the above factors then we conclude non market efficiency.
Language
Greek
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Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 4.0 Διεθνές
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 4.0 Διεθνές