{"id":"https://openalex.org/W3016133521","doi":"https://doi.org/10.1002/fut.22115","title":"The market quality of commodity futures markets","display_name":"The market quality of commodity futures markets","publication_year":2020,"publication_date":"2020-04-08","ids":{"openalex":"https://openalex.org/W3016133521","doi":"https://doi.org/10.1002/fut.22115","mag":"3016133521"},"language":"en","primary_location":{"id":"doi:10.1002/fut.22115","doi":"https://doi.org/10.1002/fut.22115","is_oa":false,"landing_page_url":"https://doi.org/10.1002/fut.22115","pdf_url":null,"source":{"id":"https://openalex.org/S136612413","display_name":"Journal of Futures Markets","issn_l":"0270-7314","issn":["0270-7314","1096-9934"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","erih-plus","fnege-3","jufo-2","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Futures Markets","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5102863751","display_name":"Qingfu Liu","orcid":"https://orcid.org/0000-0003-4252-2360","observed_orcids":["https://orcid.org/0000-0003-4252-2360"]},"institutions":[{"id":"https://openalex.org/I24943067","display_name":"Fudan University","ror":"https://ror.org/013q1eq08","country_code":"CN","type":"education","lineage":["https://openalex.org/I24943067"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Qingfu Liu","raw_affiliation_strings":["Institute for Financial Studies, Fudan University, Shanghai, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Institute for Financial Studies, Fudan University, Shanghai, China","institution_ids":["https://openalex.org/I24943067"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5100566162","display_name":"Qian Luo","orcid":"https://orcid.org/0000-0002-1819-6043","observed_orcids":["https://orcid.org/0000-0002-1819-6043","https://orcid.org/0009-0001-0723-0269"]},"institutions":[{"id":"https://openalex.org/I24943067","display_name":"Fudan University","ror":"https://ror.org/013q1eq08","country_code":"CN","type":"education","lineage":["https://openalex.org/I24943067"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Qian Luo","raw_affiliation_strings":["Institute for Financial Studies, Fudan University, Shanghai, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Institute for Financial Studies, Fudan University, Shanghai, China","institution_ids":["https://openalex.org/I24943067"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5052525630","display_name":"Yiuman Tse","orcid":"https://orcid.org/0000-0003-2230-1261","observed_orcids":["https://orcid.org/0000-0003-2230-1261"]},"institutions":[{"id":"https://openalex.org/I208333798","display_name":"University of Missouri\u2013St. Louis","ror":"https://ror.org/037cnag11","country_code":"US","type":"education","lineage":["https://openalex.org/I208333798"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Yiuman Tse","raw_affiliation_strings":["College of Business Administration University of Missouri\u2013St. Louis  St. Louis Missouri"],"raw_orcid":"https://orcid.org/0000-0003-2230-1261","affiliations":[{"raw_affiliation_string":"College of Business Administration University of Missouri\u2013St. Louis  St. Louis Missouri","institution_ids":["https://openalex.org/I208333798"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5103014828","display_name":"Yuchi Xie","orcid":"https://orcid.org/0000-0002-1530-5558","observed_orcids":["https://orcid.org/0000-0002-1530-5558"]},"institutions":[{"id":"https://openalex.org/I24943067","display_name":"Fudan University","ror":"https://ror.org/013q1eq08","country_code":"CN","type":"education","lineage":["https://openalex.org/I24943067"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Yuchi Xie","raw_affiliation_strings":["Fanhai International School of Finance, Fudan University, Shanghai, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Fanhai International School of Finance, Fudan University, Shanghai, China","institution_ids":["https://openalex.org/I24943067"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5052525630"],"corresponding_institution_ids":["https://openalex.org/I208333798"],"apc_list":{"value":2800,"currency":"USD","value_usd":2800},"apc_paid":null,"fwci":2.853,"has_fulltext":false,"cited_by_count":20,"citation_normalized_percentile":{"value":0.91238633,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":99},"biblio":{"volume":"40","issue":"11","first_page":"1751","last_page":"1766"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9199000000953674,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9199000000953674,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.06599999964237213,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.007400000002235174,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/commodity-futures-markets","display_name":"commodity futures markets","score":0.8989999890327454},{"id":"https://openalex.org/keywords/market-quality","display_name":"market quality","score":0.9269999861717224},{"id":"https://openalex.org/keywords/liquidity","display_name":"liquidity","score":0.7990000247955322},{"id":"https://openalex.org/keywords/market-efficiency","display_name":"market efficiency","score":0.9549999833106995},{"id":"https://openalex.org/keywords/volatility","display_name":"volatility","score":0.7429999709129333},{"id":"https://openalex.org/keywords/metal-futures","display_name":"metal futures","score":0.8309999704360962},{"id":"https://openalex.org/keywords/agricultural-futures","display_name":"agricultural futures","score":1.0},{"id":"https://openalex.org/keywords/chinese-futures-market","display_name":"Chinese futures market","score":0.8330000042915344},{"id":"https://openalex.org/keywords/macroeconomic-factors","display_name":"macroeconomic factors","score":0.8289999961853027},{"id":"https://openalex.org/keywords/futures-contracts","display_name":"futures contracts","score":0.7390000224113464}],"concepts":[{"id":"https://openalex.org/C106306483","wikidata":"https://www.wikidata.org/wiki/Q183984","display_name":"Futures contract","level":2,"score":0.8849954605102539},{"id":"https://openalex.org/C52837651","wikidata":"https://www.wikidata.org/wiki/Q5473279","display_name":"Forward market","level":3,"score":0.7474544644355774},{"id":"https://openalex.org/C2983622608","wikidata":"https://www.wikidata.org/wiki/Q2298435","display_name":"Futures market","level":3,"score":0.6151237487792969},{"id":"https://openalex.org/C2776667075","wikidata":"https://www.wikidata.org/wiki/Q2922469","display_name":"Commodity market","level":2,"score":0.6087294220924377},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.5893270373344421},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5672686100006104},{"id":"https://openalex.org/C70771513","wikidata":"https://www.wikidata.org/wiki/Q235779","display_name":"Hedge","level":2,"score":0.5566700100898743},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.49992895126342773},{"id":"https://openalex.org/C90937171","wikidata":"https://www.wikidata.org/wiki/Q764869","display_name":"Contango","level":3,"score":0.47241082787513733},{"id":"https://openalex.org/C190622953","wikidata":"https://www.wikidata.org/wiki/Q5153170","display_name":"Commodity pool","level":5,"score":0.45890775322914124},{"id":"https://openalex.org/C91602232","wikidata":"https://www.wikidata.org/wiki/Q756115","display_name":"Volatility (finance)","level":2,"score":0.4586505889892578},{"id":"https://openalex.org/C2777382242","wikidata":"https://www.wikidata.org/wiki/Q6017816","display_name":"Index (typography)","level":2,"score":0.4534660577774048},{"id":"https://openalex.org/C195534400","wikidata":"https://www.wikidata.org/wiki/Q641443","display_name":"Factor market","level":2,"score":0.44240713119506836},{"id":"https://openalex.org/C2779439359","wikidata":"https://www.wikidata.org/wiki/Q317088","display_name":"Commodity","level":2,"score":0.43810662627220154},{"id":"https://openalex.org/C2779530757","wikidata":"https://www.wikidata.org/wiki/Q1207505","display_name":"Quality (philosophy)","level":2,"score":0.4257950186729431},{"id":"https://openalex.org/C51926234","wikidata":"https://www.wikidata.org/wiki/Q3312426","display_name":"Market microstructure","level":3,"score":0.41066625714302063},{"id":"https://openalex.org/C182306322","wikidata":"https://www.wikidata.org/wiki/Q1779371","display_name":"Order (exchange)","level":2,"score":0.39738744497299194},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3520229458808899},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.26789534091949463},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.1553506851196289},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.1060575544834137},{"id":"https://openalex.org/C64589626","wikidata":"https://www.wikidata.org/wiki/Q7142812","display_name":"Passive management","level":4,"score":0.06656429171562195},{"id":"https://openalex.org/C34375142","wikidata":"https://www.wikidata.org/wiki/Q1156684","display_name":"Fund of funds","level":3,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0},{"id":"https://openalex.org/C136764020","wikidata":"https://www.wikidata.org/wiki/Q466","display_name":"World Wide Web","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1002/fut.22115","doi":"https://doi.org/10.1002/fut.22115","is_oa":false,"landing_page_url":"https://doi.org/10.1002/fut.22115","pdf_url":null,"source":{"id":"https://openalex.org/S136612413","display_name":"Journal of Futures Markets","issn_l":"0270-7314","issn":["0270-7314","1096-9934"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","erih-plus","fnege-3","jufo-2","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Futures Markets","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Zero hunger","score":0.4359000027179718,"id":"https://metadata.un.org/sdg/2"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":43,"referenced_works":["https://openalex.org/W579587870","https://openalex.org/W1998856889","https://openalex.org/W2002765661","https://openalex.org/W2005605529","https://openalex.org/W2039682891","https://openalex.org/W2050807192","https://openalex.org/W2068138154","https://openalex.org/W2074616142","https://openalex.org/W2075145522","https://openalex.org/W2081845631","https://openalex.org/W2098243058","https://openalex.org/W2098978342","https://openalex.org/W2104559023","https://openalex.org/W2106450782","https://openalex.org/W2106965518","https://openalex.org/W2107872696","https://openalex.org/W2113551185","https://openalex.org/W2127456942","https://openalex.org/W2132527237","https://openalex.org/W2136972693","https://openalex.org/W2137582495","https://openalex.org/W2143654996","https://openalex.org/W2150014789","https://openalex.org/W2153900362","https://openalex.org/W2157201362","https://openalex.org/W2158120228","https://openalex.org/W2158172939","https://openalex.org/W2166384358","https://openalex.org/W2312297414","https://openalex.org/W2326698579","https://openalex.org/W2341760625","https://openalex.org/W2580300094","https://openalex.org/W2746950032","https://openalex.org/W2801887377","https://openalex.org/W3121295570","https://openalex.org/W3121364726","https://openalex.org/W3121401171","https://openalex.org/W3122240774","https://openalex.org/W3122312505","https://openalex.org/W3122733718","https://openalex.org/W3122984658","https://openalex.org/W3123454797","https://openalex.org/W3123899576"],"related_works":["https://openalex.org/W4362588151","https://openalex.org/W4318481854","https://openalex.org/W2792114701","https://openalex.org/W7100036785","https://openalex.org/W2364066496","https://openalex.org/W2364464803","https://openalex.org/W2007959677","https://openalex.org/W4384435837","https://openalex.org/W2903242114","https://openalex.org/W4379653715"],"abstract_inverted_index":{"Abstract":[0],"To":[1],"study":[2],"the":[3,19,28,32,49,66,71,89],"market":[4,15,29,36,42,50,58,74,83,90],"quality":[5,16,30,75,91],"of":[6,21,73,92],"commodity":[7,13,34,56,94],"futures":[8,14,35,41,57,82],"markets,":[9],"we":[10],"construct":[11],"a":[12],"index":[17],"from":[18],"perspective":[20],"liquidity,":[22],"efficiency,":[23],"and":[24,46,62,76,81],"volatility.":[25],"Based":[26],"on":[27],"index,":[31],"Chinese":[33,55,93],"operates":[37],"steadily.":[38],"The":[39,54],"metal":[40],"is":[43,59],"more":[44,63],"efficient":[45],"stable":[47],"than":[48,65],"for":[51],"agricultural":[52],"futures.":[53,95],"less":[60],"liquid":[61],"volatile":[64],"U.S.":[67],"market.":[68],"We":[69],"examine":[70],"determinants":[72],"find":[77],"that":[78],"macroeconomic":[79],"variables":[80],"contracts":[84],"are":[85],"significantly":[86],"related":[87],"to":[88]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":6},{"year":2023,"cited_by_count":8},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":1}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2020-04-17T00:00:00"}