การใช้ตลาดซื้อขายล่วงหน้า : โมเดลทัศนคติที่หลากหลายคุณลักษณะ

Abstract

Hedging decisions by futures market usage is a protected mechanism to facilitate price risk management. From this mechanism, the producer in particular would be able to solve the price uncertainty problems enhance the minimized risk and increase profit opportunities. The main purpose of this study is to investigate the multi-attribute attitude factors influencing the probability that a producer makes decisions to use futures market. The second objective is to examine the effect among the multi-attribute attitude variables and futures market usage in each marketing activity, composed of exchange, physical and facilitating functions. Based on these objectives, the multi-attribute attitudes and functional approaches were used. The unit of analysis was rubber producers, the questionnaire design consisted of four sections. The results were analyzed by using a logistic regression and a linear multiple regressions. Our findings disclosed that in the multi-attribute attitudes model, the levels of understanding and risk perception could significantly explain the probability in hedging decisions. The similar result existed in the functional approach for each marketing activity using the stepwise method. The levels of understanding and risk perception contributed significantly to decision on futures market usage. Nevertheless, different results persisted when using the enter method analysis with the perceived performance and ease of use having significant effect for using futures market in exchange function,while only risk attitude had an impact in the facilitating function.