Analisis Kinerja Kontrak Berjangka Komoditi pada Tokyo Grain Exchange – Jepang

Authors

  • Tomy G. Soemapradja Staf pengajar Fakultas Ekonomi, UBiNus, Jakarta

DOI:

https://doi.org/10.21512/tw.v6i1.483

Keywords:

commodity futures, foreign exchange

Abstract

Futures contract is one of derivative instruments in which its value depends on underlying asset’s price fluctuation in the future. At the beginning, the futures contracts were traded with hedging motive, but now they are traded with speculative motive also. As an agricultural nation, finally, Indonesia has a commodity futures exchange (BBJ) by the end of 2000. Low volume of transactions and less futures alternative on BBJ made Tokyo Grain Exchange (TGE) as the object of this research. The statistical test concluded: The average rate of return of futures portfolio model is greater than average of forex trading of USD, and the risk of futures portfolio model is greater than forex trading of USD.

Dimensions

Plum Analytics

References

Elton, Edwin J. and Martin J. Gruber. 1995. Modern Portfolio Theory and Investment Analysis. 5th Edition. John Willey & Sons.

Hull, John C. 1997. Options, Futures, and Other Derivatives. 3rd Edition. Prentice-Hall.

Jarrow, Robert and Stuart Turnbull. 2000. Introduction to Derivative Securities. 2nd Edition. South-Western College Publishing.

Jones, Charles P. 1998. Investment – Analysis and Management. 6th Edition. John Willey.

Levin, Richard I. and David S. Rubin. 1998. Statistic for Management. 7th Edition. Prentice-Hall.

Linsmeier, Thomas J. and Neil D. Pearson. 1996. Risk Measurement: An Introduction to Value at Risk. University of Illinois at Urbana-Champaign.

Manfredo, Mark R. and Raymond M. Leuthold. 1998. Agricultural Applications of Value at Risk Analysis: A Perspective, Department of Agricultural and Consumer Economics. University of Illinois at Urbana-Champaign.

Tanugraha, Haryy. 1998. Perdagangan Berjangka: Peluang dan Tantangan di Era Globalisasi. Jurnalindo Aksara Grafika.

Weston, J. Fred and Thomas E. Copeland. 1997. Manajemen Keuangan. Edisi 9. Binarupa Aksara.

Weirs, Ronald M. 1998. Introduction to Business Statistics. 3rd Edition. Brooks/Cole Publishing Company.

Downloads

Published

2005-03-31

How to Cite

Soemapradja, T. G. (2005). Analisis Kinerja Kontrak Berjangka Komoditi pada Tokyo Grain Exchange – Jepang. Journal The Winners, 6(1), 1-22. https://doi.org/10.21512/tw.v6i1.483

Issue

Vol. 6 No. 1 (2005): The Winners Vol. 6 No. 1 2005

Section

Articles

License

Authors who publish with this journal agree to the following terms:
a. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License - Share Alike that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.

b. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.

c. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.

 

USER RIGHTS

 All articles published Open Access will be immediately and permanently free for everyone to read and download.  We are continuously working with our author communities to select the best choice of license options, currently being defined for this journal as follows: Creative Commons Attribution-Share Alike (CC BY-SA)

Abstract 528  .
PDF downloaded 662  .