... on data from spot and futures market in China, this paper develops an improved B-S model for the calculation of crop price insurance premium and tests the possibility of hedging underwriting risks by insurance firms in the futures market. Findings The authors find that spot price of crops in China can...

...H. Holly Wang; Milton Boyd; Shi Zheng; Pei Xu; Zhigang Wang Purpose The purpose of this paper is to find factors that explain why some enterprises hedge but others do not. The authors' analysis relies on Heckman model (a probit and Tobit model) with the data obtained from questionnaires collected...