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008			241128b |||||||| |||| 00| 0 eng d
022			_a03128962
040			_aMSU _bEnglish _cMSU _erda
050	0	0	_aHD31 AUS
100	1		_aFan, John Hua _eauthor
245	1	0	_aEstimation and performance evaluation of optimal hedge ratios in the carbon market of the European Union Emissions Trading Scheme/ _ccreated by John Hua Fan, Eduardo Roca, and Alexandr Akimov
264	1		_aLos Angeles : _bSage, _c2014.
336			_2rdacontent _atext _btxt
337			_2rdamedia _aunmediated _bn
338			_2rdacarrier _avolume _bnc
440			_aAustralian journal of management _vVolume 39, number 1,
520	3		_aFollowing the introduction of the European Union Emissions Trading Scheme (EU-ETS), CO2 emissions have become a tradable commodity. As a regulated party, emitters are forced to take into account the additional cost of carbon emissions in their production costs structure. Given the high volatility in the carbon price, the importance of price risk management becomes unquestionable. This study is the first attempt that has been made to calculate hedge ratios and to investigate their hedging effectiveness in the EU-ETS carbon market by applying conventional, recently developed estimation models. These hedge ratios are then compared with those derived for other markets. In spite of the uniqueness and novelty of the carbon market, the results of the study are consistent with those found in other markets – that the hedge ratio is in the range of 0.5–1.0 and is still best estimated by simple regression models.
650			_acarbon market _vConditional hedge ratio _xEmissions trading
700	1		_aRoca, Eduardo _eco author
700	1		_aAkimov, Alexandr _eco author
856			_uhttps://doi.org/10.1177/0312896212468454
942			_2lcc _cJA
999			_c168437 _d168437