Efficiency of Forward Freight Agreements: the “Unbiasedness Hypothesis"

dc.contributor.degreegrantinginstitution	Athens University of Economics and Business, Department of Accounting and Finance	en
dc.contributor.thesisadvisor	Kavussanos, Manolis	en
dc.creator	Liokis, Dimitrios	en
dc.date	31-12-2012
dc.date.accessioned	2025-03-26T19:47:37Z
dc.date.available	2025-03-26T19:47:37Z
dc.description.abstract	This paper investigates the “Unbiasedness Hypothesis” of Forward Freight Agreement (FFA) testing the hypothesis for dry-bulk FFAs of individual routes P2A, P3A, C4 and C7 one, two and three month prior to their maturity. Capesize 4TC, Panamax 4TC and Supramax 6TC are also investigated. A VECM is estimated by using the framework introduced by Johanssen (1988) to test for cointegration. Unbiasedness is tested by putting the necessary restrictions in the cointegrating vector and using the statistic introduced by Juselius and Johansen (1990). Unbiased FFAs are a free source of information about the expected future spot prices, being beneficial to any economic agent exposed to the freight market.	en
dc.format.extent	65p.
dc.identifier.uri	https://pyxida.aueb.gr/handle/123456789/8038
dc.language	en
dc.rights	CC BY: Attribution alone 4.0
dc.rights.uri	https://creativecommons.org/licenses/by/4.0/
dc.subject	Market efficiency	en
dc.subject	Forward Freight Agreement (FFA)	en
dc.subject	Unbiasedness Hypothesis	en
dc.title	Efficiency of Forward Freight Agreements: the “Unbiasedness Hypothesis"	en
dc.type	Text

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