International Journal of Financial Studies,
Год журнала:
2025,
Номер
13(2), С. 88 - 88
Опубликована: Май 21, 2025
In
this
paper,
we
propose
a
linear
factor
model
that
incorporates
investor
preferences
toward
sustainability
to
analyze
indirect
effects
climate
concerns
may
have
on
asset
prices.
Our
approach
is
based
the
relationship
between
environmental,
social,
and
governance
(ESG)
investing
change
considerations
by
investors.
We
use
ESG
scores
as
part
of
information
set
used
investors
determine
unconditional
version
conditional
capital
pricing
(CAPM).
results
show
score
allows
linearized
CAPM
greatly
outperform
classic
Fama–French
three-factor
for
different
sorts
stock
portfolios,
contributing
significantly
reducing
errors.
Furthermore,
find
negative
price
risk
stocks
covary
positively
with
growth,
which
suggests
green
assets
perform
better
than
brown
ones
if
suddenly
become
more
pressing
over
time.
Thus,
our
paper
constitutes
step
forward
in
attempt
shed
light
how
priced
regardless
measure
used.
Heliyon,
Год журнала:
2024,
Номер
10(16), С. e34712 - e34712
Опубликована: Июль 20, 2024
This
study
examines
the
economic
impact
of
soaring
international
energy
prices
during
Russia-Ukraine
conflict
from
February
23,
2022,
to
May
31,
2022.
Notably,
by
applying
a
CGE
model,
this
offers
insights
into
policies
at
both
macroeconomic
and
industrial
levels,
emphasizing
model's
utility
in
analyzing
complex
interactions
under
geopolitical
stress.
Findings
indicate
that:
Heliyon,
Год журнала:
2024,
Номер
10(3), С. e25476 - e25476
Опубликована: Фев. 1, 2024
PurposeThis
study
investigates
the
impact
of
Russian
Ruble
on
Czech
crown,
Polish
zloty,
and
Hungarian
forint
during
Russia-Ukraine
war.
The
euro
is
used
as
a
comparative
base
unit
in
four
exchange
rate
parities.
Euro
was
since
Republic,
Hungary,
Poland,
Russia
maintain
intensive
economic
relations
with
Eurozone.
At
same
time,
Visegrad
(V4)
countries
are
geographically
located
European
continent
bordered
by
Eurozone
member
states.MethodsThe
series
stands
daily
frequency
indicate
period
from
February
1,
2022,
to
2023.
To
generate
results,
VAR
impulse
response
function,
variance
decomposition,
vector
error
correction
model,
granger
causality
test
were
performed.ResultsEven
though
demanded
that
gas
payments
be
made
Rubles,
this
fact
did
not
affect
forint.
Due
for
V4
agreed
Euros
through
German
contractors.
During
period,
strong
influence
crown
zloty
observed.ImplicationsFrom
policy
perspective,
results
provide
indications
national
governments
regulatory
bodies
implications
ruble
conflict.
In
short,
our
findings
document
instability
currency
pairs
only
but
also
geopolitical.
Energy
dependence
autocratic
states
endangers
security
can
set
rates
cardiac
arrest.
Moreover,
geographical
proximity
conflict
zone
tends
decisive
collapse
currencies.
Financial Innovation,
Год журнала:
2025,
Номер
11(1)
Опубликована: Янв. 6, 2025
Abstract
This
study
utilizes
two
complementary
models,
the
Time-Varying
Parameter
Vector
Autoregressive
Diebold–Yilmaz
(TVP-VAR-DY)
and
Baruník–Křehlík
(TVP-VAR-BK),
to
investigate
dynamic
volatility
transmission
between
exchange
rates
stock
returns
in
major
commodity-exporting
-importing
countries.
The
analysis
focuses
on
periods
of
quantitative
easing
(QE)
tightening
(QT)
from
March
15,
2020
December
30,
2022.
countries
examined
are
Canada
Australia
(major
commodity
exporters)
UK
Germany
importers).
An
essential
contribution
this
paper
is
new
empirical
insights
into
dynamics
market
these
markets
during
QE
QT
periods.
results
reveal
that
causality
primarily
flows
rates,
especially
period
across
all
investment
horizons.
Toronto
Stock
Exchange
(TSX)
emerges
as
principal
net
driver
among
under
study.
Furthermore,
Canadian
rate
(USDCAD)
Australian
(ASX)
most
significantly
affected
indices
within
network
various
horizons
(excluding
long-term).
These
findings
underscore
importance
for
investors
policymakers
consider
interplay
returns,
particularly
context
periods,
well
other
economic,
political,
health-related
events.
Our
relevant
stakeholders,
including
governments,
traders,
portfolio
managers,
multinationals.
Journal of Economic Surveys,
Год журнала:
2025,
Номер
unknown
Опубликована: Янв. 23, 2025
ABSTRACT
Leading
to
enormous
effects
on
the
global
financial
markets,
oil
shocks
have
received
full
attention
from
academic
literature.
The
objective
of
this
survey
is
organize
and
consolidate
existing
theoretical
empirical
research
with
goal
uncovering
potential
areas
for
future
investigation.
paper
begins
a
brief
overview
against
historical
background,
makes
summarized
literature
regarding
shocks.
Then
discusses
underlying
sources
then
turns
make
review
connections
between
economy,
stock
market,
commodity
market.
concludes
recommendations
subsequent
endeavors,
hopes
facilitate
further
in
many
strands
shocks‐related
IntechOpen eBooks,
Год журнала:
2025,
Номер
unknown
Опубликована: Янв. 22, 2025
This
chapter
further
investigates
whether
a
surge
in
international
commodity
resources
serves
as
“godsend”
or
“misfortune”
for
the
financial
markets
of
various
nations.
By
using
systematic
review
approach,
we
focus
on
examining
relationship
among
three
factors:
(1)
growth
country’s
market
response
to
(2)
an
price
shock
and
(3)
government’s
role
mitigating
these
shocks.
Our
analysis
reveals
that,
even
when
accounting
institutional
quality
system’s
capacity,
increase
resource
windfall
generally
improves
overall
health
markets,
though
it
also
introduces
certain
short-term
vulnerabilities.
Notably,
evaluate
macroprudential
policies
shocks
discover
that
strategies,
such
cautious
loan
restrictions,
liberalization,
capital
preservation,
effectively
mitigate
risks
during
significant
changes,
regardless
changes
are
favorable
unfavorable.
In
summary,
our
findings,
which
remain
robust
across
multiple
tests,
align
more
closely
with
“new
trade”
theory
rather
than
notion
“resource
curse.”
