Article
Economics
Laurent Millischer, Tatiana Evdokimova, Oscar Fernandez
Summary: Financial markets can promote the transition to a low-carbon economy by considering carbon prices in company valuations. A study on European stock markets reveals a significant relationship between carbon price changes and stock returns, with the impact varying based on firms' carbon intensity. Companies facing higher carbon costs perform poorly in periods of carbon price increases, highlighting the importance of ambitious carbon pricing policies to support climate change mitigation.
Article
Business, Finance
Savva Shanaev, Arina Shuraeva, Svetlana Fedorova
Summary: This paper identifies a unique calendar anomaly in the US stock market related to the Groundhog Day prognostication tradition. The results suggest significant abnormal returns during the prediction of an early spring, while lower buy-and-hold returns are observed during the prediction of a long winter. These findings are robust across different subsamples and placebo tests for international stock indices, and cannot be explained by other seasonal factors. The study implies the presence of significant and persistent irrational optimism among US investors surrounding Groundhog Day early spring forecasts.
FINANCE RESEARCH LETTERS
(2022)
Article
Business, Finance
Qian Wang, Chunyan Zhou, Lei Wang, Yu Wei
Summary: Behavioral finance research has found that the end-word tones of stock names can have a significant impact on the cognitive biases of investors and their consequences in the Chinese IPO market. This study reveals that stocks with easy pronunciation of the end-word tones tend to have higher price-to-earnings ratios and abnormal returns compared to stocks with difficult pronunciation. However, after 12 months, the cumulative abnormal returns of easy-pronunciation stocks decrease more than difficult-pronunciation stocks. Furthermore, the effects of end-word tone on P/E ratios and abnormal returns of IPO stocks in China are generally significant throughout the first day of IPO to 12 months after, but change from positive to negative around six months after the IPO day.
FINANCE RESEARCH LETTERS
(2023)
Article
Business, Finance
Cui Hu, Ben G. Li
Summary: According to the study, Chinese stocks with lexicographically earlier tickers are traded more frequently, with a backward change leading to a decrease in turnover. This bias is heavier in the service sector and for obscure stocks. Stocks switching to later lexicographic positions are penalized in trading frequency, regardless of alternative financial measures used.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2021)
Article
Business, Finance
Yongfang Ai, Guanglin Sun, Tao Kong
Summary: This paper examines the effects and mechanisms of digital finance on the risk of stock price collapse using a sample of Chinese A-share listed enterprises from 2011 to 2020. The findings suggest that digital finance can prevent corporate share price collapse, with a greater impact from the depth of digital finance usage compared to the breadth of digital finance coverage. The study also reveals that information transparency, agency costs, and stock price synchronization act as mediating variables in the relationship between digital finance and the risk of stock price collapse. Furthermore, the inhibitory effect of digital finance on stock price collapse varies among different types of enterprises.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2023)
Article
Economics
Shuxin Li, Nobuya Takezawa, Jiaxi Zhou
Summary: The establishment and popularity of professional esports leagues, along with the public listing of Astralis Group, provide an opportunity to examine the impact of wins and losses on the stock price of nontraditional sports teams. The empirical evidence suggests that championship wins affect Astralis' stock returns, indicating that investors perceive them as indicative of future earnings growth.
APPLIED ECONOMICS LETTERS
(2023)
Article
Economics
Jihong Xiao, Xian Chen, Yang Li, Fenghua Wen
Summary: This paper examines the impact of oil price uncertainty on stock price crash risk in China and finds that oil price uncertainty increases stock price crash risk. In particular, non-state-owned enterprises are more affected by oil price uncertainty, but its positive impact is significant for both state-owned and non-state-owned enterprises. Further analysis suggests that corporate risk-taking and market competitiveness can moderate the positive impact of oil price uncertainty on stock price crash risk.
Article
Economics
Bo Sui, Chun-Ping Chang, Chyi-Lu Jang, Qiang Gong
Summary: The study reveals that epidemic strength is a key factor in influencing crude oil prices, particularly significant in OECD countries. Countries should enhance information dissemination, reduce information asymmetry, and take synergistic measures to prevent epidemic-based contagion.
ECONOMIC ANALYSIS AND POLICY
(2021)
Article
Business, Finance
Elroi Hadad, Haim Kedar-Levy
Summary: This research investigates the impact of changes in sentiment on bond and stock conditional return volatility. The study utilizes six indicators from the Tel-Aviv Stock Exchange as proxies for sentiment and finds that sentiment changes affect the volatility of the two markets differently depending on market states. The study also highlights the uniqueness of the market structure in the dataset, which includes highly active retail traders and differs from the prevalent over-the-counter platforms dominated by institutional investors who are less influenced by sentiment.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2024)
Review
Psychology, Multidisciplinary
Shaista Jabeen, Muhammad Farhan, Muhammad Ahmad Zaka, Muhammad Fiaz, Mobina Farasat
Summary: The COVID-19 pandemic has had a significant impact on global stock markets, causing massive losses and forcing international financial institutions to revise their growth forecasts. However, despite the destructive effects, there is still hope for a rapid recovery in the stock market.
FRONTIERS IN PSYCHOLOGY
(2022)
Article
Business, Finance
Xiaotao Zhang, Ziqiao Wang, Jing Hao, Feng He
Summary: The daily price limit in the ChiNext market was changed from 10% to 20% in 2020. We used the difference-in-difference (DID) approach to examine the impact of this price limit change on firm-level market quality indicators. The results showed that the implementation of the new price limit range significantly improved market liquidity and increased market volatility and the likelihood of informed trading.
PACIFIC-BASIN FINANCE JOURNAL
(2022)
Article
Computer Science, Information Systems
Francesco Colasanto, Luca Grilli, Domenico Santoro, Giovanni Villani
Summary: This paper utilizes the BERT model for sentiment analysis in the financial sector and aims to improve stock forecasting. By assigning sentiment scores to news articles and using a Monte Carlo method to generate potential future paths, the study provides an accurate directed price as a result.
INFORMATION SCIENCES
(2022)
Article
Ecology
Jonathan Peillex, Imane El Ouadghiri, Mathieu Gomes, Jamil Jaballah
Summary: The study found that trading volumes on the French stock market significantly decrease when the maximum daily temperatures in Paris exceed 30 degrees Celsius. This negative association is robust to various alternative analyses and has implications for behavioral finance literature and public policy.
ECOLOGICAL ECONOMICS
(2021)
Article
Mathematics
Binghui Wu, Yuanman Cai, Mengjiao Zhang
Summary: This study uses the partial least squares method to construct an investor sentiment index in the Chinese stock market, focusing on its impact on stock price crash risk. The results indicate that investor sentiment significantly affects stock price crash risk in the Shenzhen A-share market, with pessimism having a greater impact from the perspective of heterogeneous sentiment. Additionally, the study compares the differences between Shanghai and Shenzhen A-share markets, providing a more comprehensive analysis.
JOURNAL OF MATHEMATICS
(2021)
Article
Environmental Studies
Yongbo Ge, Yuexiao Zhu
Summary: This paper investigates the effect of green financing on behavioral decision-making in heavily polluted industries that rely on natural resources. The findings suggest that green finance policy reduces the future crash risk of these industries, with a more pronounced effect in firms with weaker internal controls, lower audit quality, and a higher level of marketization. The study also highlights the importance of information transparency and efficiency as economic channels for achieving this effect.
Article
Environmental Sciences
Shi-Zheng Huang, Muhammad Sadiq, Fengsheng Chien
Summary: This study examines the relationship between transportation, urbanization, economic growth, and GHG emissions in ASEAN countries, as well as the impact of environmental regulations on GHG emission reduction. The findings suggest that transportation, urbanization, and economic growth contribute to an increase in GHG emissions, while environmental taxes help reduce GHG emissions.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2023)
Article
Environmental Sciences
Zheng Wenlong, Muhammad Atif Nawaz, Amena Sibghatullah, Syed Ehsan Ullah, Supat Chupradit, Vu Minh Hieu
Summary: The world has been facing the ecological deficit due to the continuous rise in ecological footprint and decline in per-capita bio-capacity. This study analyzes the impacts of economic globalization, transportation, coal rents, and electricity consumption on the ecological footprint in the USA. The findings suggest that reducing dependence on fossil fuels in the transport sector, increasing the use of hydroelectricity, and implementing strict strategies to curb coal consumption can help reduce the negative influence of these variables on ecological footprints.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2023)
Article
Economics
Fengsheng Chien, YunQian Zhang, Arshian Sharif, Muhammad Sadiq, Minh Vu Hieu
Summary: This study examined the impact of air pollution on the tourism industry in the USA from 1990 to 2020, considering macroeconomic variables. The results showed that air pollution, measured by CO2 emissions and PM2.5, had a negative association with international tourist arrivals. However, GDP and real effective exchange rate had a positive significant long-term association with tourist arrivals. Furthermore, the short-term analysis revealed a positive correlation between past and lagged values of tourist arrivals and current and lagged values of international tourist arrivals. The study also confirmed bidirectional causality between tourism, GDP, haze pollution, and exchange rates.
Article
Economics
Muhammad Sadiq, Thanh Quang Ngo, Adamu Abdurrahman Pantamee, Khurshid Khudoykulov, Truong Thi Ngan, Luc Phan Tan
Summary: This study investigates the impact of ESG and economic growth on the SDGs of ASEAN countries and finds a positive association between environmental score, social score, governance score, economic growth, and SDGs. The findings provide assistance to new researchers and guidance for policymakers in achieving SDGs through ESG.
ECONOMIC RESEARCH-EKONOMSKA ISTRAZIVANJA
(2023)
Article
Environmental Sciences
Vu Minh Hieu, Nguyen Hong Mai
Summary: This study examines the association between economic growth and energy consumption (renewable and nonrenewable) in developing countries. The findings suggest that both renewable and nonrenewable energy have a positive impact on economic growth, indicating the importance of investing in renewable energy for developing countries. Policy measures such as tax exemptions, subsidies, and feed-in tariffs are recommended to encourage the growth of the renewable energy sector.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2023)
Article
Economics
Muhammad Sadiq, Jenho Peter Ou, Khoa Dang Duong, Le Van, Thanh Quang Ngo, Thanh Xuan Bui
Summary: This study examines the impact of economic factors on sustainable energy consumption (SEC) in China and finds that economic growth, foreign direct investment (FDI), inflation, and population growth are positively associated with SEC. The results provide guidelines for policymakers in developing SEC policies.
ECONOMIC RESEARCH-EKONOMSKA ISTRAZIVANJA
(2023)
Article
Economics
Tolassa Temesgen Hordofa, Hieu Minh Vu, Apichit Maneengam, Nafeesa Mughal, Phan The Cong, Song Liying
Summary: This study examines the impact of eco-innovation and green investment on CO2 emissions using China's data from 1990 to 2019. The empirical findings confirm that eco-innovation and green investment have a negative effect on CO2 emissions, suggesting the importance of strengthening environmentally friendly policies and advancing green investment to mitigate CO2 emissions.
ECONOMIC RESEARCH-EKONOMSKA ISTRAZIVANJA
(2023)
Article
Energy & Fuels
Fengsheng Chien, Muhammad Sadiq, Li Li, Arshian Sharif
Summary: Energy poverty remains a critical global challenge, posing a risk to billions of lives across all economies, particularly in developing and underdeveloped economies. More than 1 billion people are still without access to electricity, and about 2.7 billion rely on non-renewable resources for cooking. This study examines the effectiveness of sustainable energy and utility, natural resource utilization, and waste management in reducing energy poverty, focusing on South Asian economies from 2011 to 2020. The findings indicate that renewable energy output and consumption, natural resource utilization, waste management, inflation, and industrialization are positively linked to reducing energy poverty, providing an empirical baseline for future research in other countries facing similar challenges.
Article
Green & Sustainable Science & Technology
Fengsheng Chien, Ching-Chi Hsu, YunQian Zhang, Muhammad Sadiq
Summary: This research examines the influence of foreign direct investment, economic development, and resource utilization on carbon emissions in G-7 member countries using a unique quantile regression model. The study finds that the effect of these variables on carbon emissions varies across different quantiles. Increased energy use leads to higher emissions, particularly at higher quantiles. Financial development and population growth appear to reduce emissions in high-emission nations. The study also confirms the halo effect concept and suggests that increased trade openness may decrease environmental emissions in low- and high-emissions countries.
SUSTAINABLE ENERGY TECHNOLOGIES AND ASSESSMENTS
(2023)
Article
Environmental Studies
FengSheng Chien, Ka Yin Chau, Muhammad Sadiq
Summary: Climate degradation is a global issue, and addressing it requires focusing on climate change mitigation technologies and the efficient use of natural resources. This study examines the impact of climate mitigation technology (renewable energy production and consumption) and natural resource management (natural resource rent and depletion) on climate change (greenhouse gas emissions) in China. The findings show that renewable energy output, consumption, natural resource rent, and depletion are negatively associated with greenhouse gas emissions in China, while industrialization and population growth have a positive association. This research provides guidance for policymakers in formulating regulations related to climate change using mitigation technologies and optimizing natural resource usage.
Article
Environmental Studies
Liu Xin, Trong Lam Vu, Thi Thu Hien Phan, Muhammad Sadiq, Nguyen Thi My Xuyen, Thanh Quang Ngo
Summary: Despite their population, Asian countries have not achieved full economic recovery, which may be short-lived without environmental protection. This study examines the economic recovery of Asian nations from the Asian Financial crisis, focusing on the impact of globalization, economic growth, financial development, natural resource utilization, and innovation. Using econometric approaches, the study finds that natural resource use enhances economic recovery, while technological advancement reduces it. Financial development and eco-innovation contribute to economic recovery, while urbanization accelerates environmental deterioration. The study recommends that Asian countries integrate into the financial system, fund environmental initiatives, support environmental modernization, and accelerate economic recovery through energy production and consumption.
Article
Environmental Studies
Ka Yin Chau, Muhammad Sadiq, FengSheng Chien
Summary: The present generation is facing the challenging effects of global warming, which are more visible and severe compared to the pre-industrial era, leading to ecological destruction. Economies are making maximum efforts to ensure a sustainable environment, particularly by the year 2050. This research examines the impact of natural resources and eco-financing on renewable energy production and achieving carbon neutrality in ten Asian countries. The results indicate that natural resources, eco-financing, economic growth, industrialization, and increased renewable energy production contribute towards achieving COP26 resolution - the carbon neutrality goal. It is suggested that Asian economies should utilize eco-financing to unlock the potential for achieving carbon neutrality.
Article
Business
Muhammad Sadiq, Massoud Moslehpour, Ranfeng Qiu, Vu Minh Hieu, Khoa Dang Duong, Thanh Quang Ngo
Summary: Sustainable development goals are crucial for the world, and a sharing economy is seen as the best way to achieve them. This study explores the impact of environmental, social, and economic benefits of a sharing economy on SDG achievement, with innovative culture mediating the relationship.
JOURNAL OF INNOVATION & KNOWLEDGE
(2023)
Article
Environmental Sciences
Shieh-Liang Chen, Yu-Sheng Su, Gia Luat Diep, Premagowrie Sivanandan, Muhammad Sadiq, Thi Thu Hien Phan
Summary: Global warming and the harsh climate conditions in China necessitate a shift towards sustainable energy production that is not reliant on coal. This article examines the impact of environmental knowledge and green supply chain practices on sustainable energy production, with the inclusion of green behavior and green leadership as moderating variables. The study utilized primary data collected and assessed through PLS-SEM. The findings reveal a positive association between environmental knowledge, green purchases, and internal environmental management (IEM) with sustainable energy production (SEP) in China. Additionally, green behavior moderates the relationship between environmental knowledge, green purchases, and SEP, while green leadership moderates the relationship between IEM and SEP in China. The research provides guidance for policymakers in developing SEP policies using green behavior, GSC practices, and environmental knowledge.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2023)
