Financialisation of the crude oil market: do non-commercial traders influence spot prices?
by Antonio Focacci
International Journal of Revenue Management (IJRM), Vol. 11, No. 1/2, 2019

Abstract: Generally labelled by the term financialisation of commodity markets, integration between traditional financial asset and futures markets has spurred discussions about its supposed detrimental effect. In a revenue management perspective, commodities processors' resulting pricing policies may become more time-sensitive to physical quotations favouring potential instability in firm values. By using a recent developed multibreakpoint detection technique coupled with econometric Granger-causality, we attempt to contribute to existing literature by examining the direct relationships in the supposed influencing mechanism with a special focus on non-commercial activity.

Online publication date: Mon, 14-Oct-2019

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