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African Journal of Business Management
Bulk shipping is a globalised industry, and market prices are entirely dependent on the world's economic climate. The industries contractual arrangements are also rather flexible making it difficult for market participants to understand the trends and fluctuations of market prices and forcing market participants to face greater uncertainty and volatility. VARMA (1,3) is the most suitable model, because it demonstrates the existence of a stage one lag effect between Capesize FFAs and the globaldoi:10.5897/ajbm10.1075 fatcat:hfx6xd6alfgnxk42bmkpe6romu