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Betreiben Indexfonds Agrarspekulation? Erläuterungen zum Geschäftsmodell und zum weiteren Forschungsbedarf
[Do index funds speculate on agricultural futures markets? Explanatory notes on the business model and the additional need for research]

Author

Listed:
  • Prehn, Sören
  • Glauben, Thomas
  • Pies, Ingo
  • Will, Matthias Georg
  • Loy, Jens-Peter

Abstract

Indexfonds sind aufgrund ihrer Terminmarktgeschäfte mit Agrarrohstoffen ins Zentrum öffentlicher Aufmerksamkeit und Kritik geraten. Hierzu kursieren in den Medien zahlreiche Falschinformationen, deren Korrektur sich durch klar identifizierbare Forschungslücken der empirischen Literatur verzögert hat. Gleichwohl können folgende Erkenntnisse helfen, die Debatte zu versachlichen: Indexfonds folgen einer passiven Handelsstrategie. Sie zeichnen einen Markttrend nach. Hiervon geht eine preisstabilisierende Wirkung aus. Deshalb ist zu befürchten, dass regulatorische Einschränkungen der Geschäftsaktivität von Indexfonds in Form von strengen Positionslimits oder Preislimits der Funktionsweise von Terminmärkten nicht zuträglich, sondern abträglich sind.

Suggested Citation

  • Prehn, Sören & Glauben, Thomas & Pies, Ingo & Will, Matthias Georg & Loy, Jens-Peter, 2013. "Betreiben Indexfonds Agrarspekulation? Erläuterungen zum Geschäftsmodell und zum weiteren Forschungsbedarf [Do index funds speculate on agricultural futures markets? Explanatory notes on the busine," IAMO Discussion Papers 138, Leibniz Institute of Agricultural Development in Transition Economies (IAMO).
    • Handle: RePEc:zbw:iamodp:138
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    References listed on IDEAS

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    More about this item

    Keywords

    Warenterminmärkte; Preisbildung; Indexfonds; Regulierungen; futures; pricing; index funds; regulation;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General

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