Thesis (MBA)--Stellenbosch University, 2002. / ENGLISH ABSTRACT: This study reviews the development and current status of the weather
derivative market in the world. As technology has improved, man's potential to
model the unpredictable has come to the fore.
Changes in the macro economic environment have prompted business to
diversify. Deregulation in the American energy market and the advent of
weather phenomenon like EI Nino and La Nina enticed large business to
hedge their risk exposure in a different way than traditional diversification.
Risk for the agriculture sector can be divided into three categories: Price risk,
event risk and yield risk. Price risk has been managed by the incorporation of
options and futures in the marketing of produce and acquiring of requisites.
In conclusion the research finds that the SA market has the potential to grow
faster than its American and European counterparts partly because
techniques developed can be "leap frogged", but mostly because the SA
environment induces smaller contracts that will lead to more market
participants and eventually to higher liquidity. / AFRIKAANSE OPSOMMING: Hierdie studie bespreek die ontwikkeling en huidige stand van die Weer
afgeleide instrumente mark in die wêreld. Soos tegnology verbeter het, het die
mens se vermoeë om die onsekere te voorspel na vore getree.
Veranderings in die makro ekonomiese omgewing het besighede genoodsaak
om te diversifiseer. Deregulasie van die Amerikaanse energy mark en
weerverskynsels soos EI Nino en La Nina het groot besighede verplig om
risiko te verskans deur middel van 'n ander metode as tradisionele
diversifikasie.
Risiko in die landbou sektor kan verdeel word in drie kategorie; prys risiko,
gebeurtenis risiko en laastens opbrengs risiko. In die verlede is prys risiko
bestuur deur die insluiting van afgeleide opsies in die bemarkingsaksie van
kommoditeite. Gebeurtenis risiko is beheer deur oes versekering en die laaste
word deesdae deur weer afgeleide instrumente bestuur.
In samevatting bevind die navorsing dat die Suid Afrikaanse mark die
potensiaal bevat om vinnig te groei. Deels omdat tegnieke wat ontwikkel is
gebruik kan word en deels omdat die Suid Afrikaanse omgewing kleiner
kontrakte, dog meer deelnemers in die mark stimuleer.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/53219 |
| Date | 12 1900 |
| Creators | Dreyer, Andries |
| Contributors | Du P. Smith, J., Stellenbosch University. Faculty of Economic & Management Sciences. Graduate School of Business. |
| Publisher | Stellenbosch : Stellenbosch University |
| Source Sets | South African National ETD Portal |
| Language | en_ZA |
| Detected Language | Unknown |
| Type | Thesis |
| Format | 52 p. : ill. |
| Rights | Stellenbosch University |
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