Commentary about the article "The risk of asymmetric information on the liquidity of agricultural commodities futures contracts"/Comentarios acerca do artigo "O risco de informacao assimetrica sobre a liquidez dos contratos futuros de commodities agricolas"

• Published in: Revista Brasileira de Financas 2023-04, Vol.21 (2), p.101
• Main Authors: Cruz, Jose Cesar, Junior, Capitani, Daniel Henrique Dario, Silva, Renato Moraes, Silveira, Rodrigo Lanna Franco da
• Format: Article
• Language: Portuguese
• ISSN: 1679-0731

In this note, we comment on the limitations and precautions required to analyze how liquidity relates to asymmetric information in agricultural futures markets. Our focus is on the methods used by Ribeiro et al. (2020, Brazilian Review of Finance 18(2)), "The risk of asymmetric information on the liquidity of agricultural commodity futures contracts," in their investigation of the influence of information asymmetry on liquidity in the Brazilian agricultural futures markets. Keywords: Agricultural futures market; Asymmetric information; Liquidity. JEL Code: G13, G14. Esta nota de comentario tem como objetivo explorar quais os limites e os cuidados necessarios para analisar a relacao entre liquidez e informacao assimetrica nos mercados de derivativos agropecuarios, diante dos metodos empregados no trabalho de Ribeiro et al. (2020, Revista Brasileira de Financas 18(2)), "O risco de informacao assimetrica sobre a liquidez dos contratos futuros de commodities agricolas", que investigaram a influencia da assimetria de informacoes sobre a liquidez nos mercados futuros agropecuarios (de milho, soja, cafe e boi gordo) da bolsa brasileira, B3 (Brasil, Bolsa, Balcao). Palavras-chave: Mercados futuros agropecuarios; Assimetria informacional; Liquidez. Codigo JEL: G13, G14.