Study of the necessity for the temperature risk hedge in area and firm
| Project/Area Number |
20730215
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Single-year Grants |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Iwate Prefectural University |
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Principal Investigator |
TEE Kianheng Iwate Prefectural University, 総合政策学部, 准教授 (70325140)
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| Project Period (FY) |
2008 – 2010
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| Project Status |
Completed (Fiscal Year 2010)
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| Budget Amount *help |
¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000)
Fiscal Year 2010: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2009: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2008: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
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| Keywords | 天候デリバティブ / 気温リスクヘッジ / オプション理論 / Burning Cost法 / 確率分布法 / 異常気象 / 会社四季報 / Burnin Cost法 / 気温オプション / 猛暑・冷夏 / 厳冬・暖冬 / 冷夏 / 暖冬 |
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| Research Abstract |
The corporate earnings are influenced of abnormal weather. In order to bring stable earnings, it is necessary to avoid the weather risk. Although the weather derivatives which considered most effective to avoid the risk are introduced into Japan in 1999 and the market is expanded gradually, it cannot be said that transaction volume is briskly. This study investigated the relationship between abnormal weather and the enterprise, and was understood that there are more enterprises influenced of abnormal weather in summer. Moreover, from analysis of the compensation and price of weather derivatives, it turned out that it is necessary to design the weather derivatives for each area in winter rather than summer.
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Report
(4 results)
Research Products
(3 results)
