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- Title
MARGIN REQUIREMENTS AND THE BEHAVIOR OF SILVER FUTURES PRICES.
- Authors
Ma, Christopher K.; Kao, G. Wenchi; Frohlich, C. J.
- Abstract
This study examines the impact of margin requirements on the pricing process in the silver futures market. The evidence suggests that increases (decreases) in price levels and price volatility are associated with decreases (increases) in margin requirements. This is consistent with the 'restriction hypothesis' which suggests that margin changes will mainly affect the destabilizing speculator's activities.
- Subjects
MARGIN requirements; MARGINS (Security trading); FUTURES market; SILVER industry; MARKET volatility
- Publication
Journal of Business Finance & Accounting, 1993, Vol 20, Issue 1, p41
- ISSN
0306-686X
- Publication type
Article
- DOI
10.1111/j.1468-5957.1993.tb00249.x