DocumentCode
3260063
Title
Notice of Retraction
The study of the relationship between the forward prices of agricultural products in DCE and the stock price of New Hope Group
Author
Cheng Zhe
Author_Institution
Coll. of Econ. & Manage., Sichuan Agric. Univ., Chengdu, China
fYear
2011
fDate
8-10 Aug. 2011
Firstpage
712
Lastpage
715
Abstract
Notice of Retraction
After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.
We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.
The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.
The paper has made an empirical study of the relationship between the prices of soybeans, soybean meal and corns in DCE and the stock price of New Hope Group, the representative of listed agricultural companies in feed industry, by such econometric methods as ADF unit root test, extended E-G test and Granger causality test, etc., and presented relevant conclusion as well as suggestions. The study shows that there is a long-term balanced co-integration and two-way Granger casual relation between the forward prices of dominant futures like soybeans and corns in DCE and the stock price of New Hope Group while between the price of soybean meal futures and the stock price there is only a co-integration and one-way Granger causality with stock price affecting the price of soybean meal futures, from which it can be easily concluded that the price discovery ability of soybeans and corns is better than that of soybean meal.
After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.
We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.
The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.
The paper has made an empirical study of the relationship between the prices of soybeans, soybean meal and corns in DCE and the stock price of New Hope Group, the representative of listed agricultural companies in feed industry, by such econometric methods as ADF unit root test, extended E-G test and Granger causality test, etc., and presented relevant conclusion as well as suggestions. The study shows that there is a long-term balanced co-integration and two-way Granger casual relation between the forward prices of dominant futures like soybeans and corns in DCE and the stock price of New Hope Group while between the price of soybean meal futures and the stock price there is only a co-integration and one-way Granger causality with stock price affecting the price of soybean meal futures, from which it can be easily concluded that the price discovery ability of soybeans and corns is better than that of soybean meal.
Keywords
agricultural products; pricing; stock markets; New Hope Group; agricultural company; agricultural product; corns; econometric method; feed industry; forward prices; long-term balanced co-integration; one-way Granger causality; price discovery ability; soybean meal; stock price; two-way Granger casual relation; Agricultural products; Companies; Contracts; Feeds; Time series analysis; ADF unit root test; Granger causality test; agricultural futures; cointegration;
fLanguage
English
Publisher
ieee
Conference_Titel
Emergency Management and Management Sciences (ICEMMS), 2011 2nd IEEE International Conference on
Conference_Location
Beijing
Print_ISBN
978-1-4244-9665-5
Type
conf
DOI
10.1109/ICEMMS.2011.6015781
Filename
6015781
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