Purpose – The purpose of this paper is to examine whether the futures volatility could affect the investor behavior and what trading strategy different investors could adopt when they meet different information conditions. Design/methodology/approach – This study introduces a two‐period...

Purpose–The purpose of this paper is to examine whether the futures volatility could affect the investor behavior and what trading strategy different investors could adopt when they meet different information conditions. Design/methodology/approach–This study introduces a two-period...