Article
Energy & Fuels
Waldemar Tarczynski, Sebastian Majewski, Malgorzata Tarczynska-Luniewska, Agnieszka Majewska, Grzegorz Mentel
Summary: Recent research in behavioral finance has investigated the relationship between weather, investors' mood, and investment decisions, with a focus on GARCH models to verify the impact of weather factors on market parameters of energy sector companies listed on the Warsaw Stock Exchange.
Article
Economics
Di Yuan, Sufang Li, Rong Li, Feipeng Zhang
Summary: This study examines the relationship between EPU, oil, and stock markets in the BRIC countries. The results show that EPU has a reverse effect on stock markets and a smaller impact on oil markets. Economic policies in China and Russia are more susceptible to fluctuations in oil and stock markets.
Article
Business, Finance
Vincent Fromentin, M. S. H. Lorraine, C. P. E. R. Ariane, Turki Alshammari
Summary: This study investigates the connection/disconnection between the stock market and macroeconomic fundamentals in the United States and reveals an asymmetric bidirectional causality. The lead-lag relationships between stock prices and key macroeconomic indicators are more prevalent during recession phases, but there may be a possible disconnection during the Covid crisis.
FINANCE RESEARCH LETTERS
(2022)
Article
Energy & Fuels
Vedat Ender Tuna, Gulfen Tuna, Nurcan Kostak
Summary: This study investigates the causality between stock and oil prices in both conventional and Islamic stock markets using a dataset of 4338 daily closing prices. The results show causality in both traditional and Islamic stock markets for both positive and negative shocks, although there is no steady causality in positive shocks. However, there is causality for most sub-sample periods in negative shocks.
Article
Business, Finance
Xiaozhu Guo, Yi Wang, Yixue Hao, Wenwen Zhang
Summary: This paper employs dynamic connectedness methods to explore the linkages among Chinese carbon bond market, carbon stock market, and energy stock market. The study finds that the spillover effects among these markets are dynamic and the carbon stock market and carbon bond market play major roles in transmitting and receiving shocks, respectively.
FINANCE RESEARCH LETTERS
(2023)
Article
Green & Sustainable Science & Technology
Lixin Qiu, Lijun Chu, Ran Zhou, Haitao Xu, Sai Yuan
Summary: This study examines the impact of Brexit, the launch of the European Green Deal, and the COVID-19 pandemic on the connectedness among carbon, stock, and renewable energy markets. The results indicate that the renewable energy market initially experiences a positive shock from the carbon market, which gradually decreases over time. The long-term connectivity between the carbon market and the stock market, and between the carbon market and the renewable energy market is close to zero. In the short term, COVID-19 strengthens the positive connectivity between the stock market and the carbon market, as well as between the renewable energy market and the carbon market. Furthermore, the negative impact of the carbon market on the renewable energy market is greater during COVID-19 compared to the release of the European Green Deal, while Brexit allows for a positive carbon price spillover to renewable energy prices.
JOURNAL OF CLEANER PRODUCTION
(2023)
Article
Environmental Studies
Zouheir Mighri, Hanen Ragoubi, Suleman Sarwar, Yihan Wang
Summary: This paper examines the dynamic causal relationships between US stock market indices and precious metal prices, and finds that the relationship is dependent on quantiles. The results show that there is bi-directional Granger causality between gold prices and US stock market indices, as well as between silver prices and changes in US stock market indices at extreme lower quantiles. Additionally, there is evidence of bi-directional Granger causality between changes in US stock market indices and changes in platinum prices across all tails of the distribution.
Article
Environmental Sciences
Yonghong Jiang, Lu Liu, Jinqi Mu
Summary: This study examines the nonlinear dependence between the carbon market and stock market in China under different market conditions, and finds heterogeneity across sectors under different market conditions.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2022)
Article
Business, Finance
Hao Wang, Xiaoqian Wang, Siyuan Yin, Hao Ji
Summary: This paper investigates the asymmetric contagion effects between the stock and cryptocurrency markets. Through the implementation of a time-varying symmetrized Joe-Clayton copula GARCH model and the Bai-Perron breakpoint test, the dynamic correlations between the daily log-returns of the two markets are explored. The non-linear Granger causality test is used to examine the asymmetric contagion effects between the two markets. The findings reveal that the lower tail dependences are more significant than the upper ones.
FINANCE RESEARCH LETTERS
(2022)
Article
Management
Weiqiang Tan, Jian Zhang
Summary: This study uses taxicab tipping records in NYC to develop a new measure of real-time utility and assess the impact of wealth change on individual well-being. The findings suggest that an increase in the stock market index has a short-term effect on tipping ratios, primarily driven by wealth loss. Additionally, the study shows that the impact of wealth change is more pronounced in stocks of firms with large market capitalization.
MANAGEMENT SCIENCE
(2021)
Article
Business, Finance
Hui Hong, Lijun Jiang, Cheng Zhang, Zhonggang Yue
Summary: This research specifies the difference in herding across China's conventional and new energy stock markets and finds that herding is stronger for new energy stocks. The study also reveals that during the COVID-19 pandemic, new energy stock investors tend to follow market consensus, while conventional energy stock investors are not influenced. Furthermore, information arrivals from the new energy market help weaken herding in the conventional energy market, highlighting the importance of information dissemination.
RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE
(2024)
Article
Economics
Muhammad Shahbaz, Nader Trabelsi, Aviral Kumar Tiwari, Emmanuel Joel Aikins Abakah, Zhilun Jiao
Summary: This study investigates the impact of energy and stock markets on the dynamics of green stock price returns, finding that clean energy markets react to crude oil and stock markets depending on different market regimes. Negative and significant cross relations were found when the stock market is in bullish condition and clean energy indices in bearish conditions.
Article
Environmental Studies
Yanran Hong, Feng Ma, Lu Wang, Chao Liang
Summary: This study examines the causal relationship between gold and stocks, finding that it typically arises from extreme shocks, with a long-term causality running from gold shocks to stock shocks, while the impact of stock shocks on gold shocks is more inconsistent. Additionally, the study shows that the causality between gold and stock shocks is greatly promoted after the COVID-19 outbreak.
Article
Business, Finance
Chuangxia Huang, Shigang Wen, Mengge Li, Fenghua Wen, Xin Yang
Summary: This paper ranks influential nodes in the Chinese A-share market using complex network analysis approach. The results show significant changes in the characteristics of stock market networks before and after the financial crisis, with influential companies mainly being large-cap firms, and the top three influential stocks being high-priced stocks.
FINANCE RESEARCH LETTERS
(2021)
Article
Economics
Jilong Chen, Liao Xu
Summary: Despite the fierce rise of ETFs, their impacts on market stability are still not well understood and controversial. This study focuses on the China Securities Index 300 stocks and ETFs from 2006 to 2020 and examines the effect of ETF ownership on stock volatility. The findings suggest that ETF ownership is a dominant factor that increases stock market volatility and the causality between ETF ownership and stock volatility is bidirectional. Moreover, the study shows that the coronavirus disease outbreak amplifies the negative role of ETFs in increasing market volatility.
ECONOMIC MODELLING
(2023)
Article
Environmental Sciences
Khurram Shahzad, Taimoor Hassan Farooq, Buhari Dogan, Li Zhong Hu, Umer Shahzad
Summary: This study examines the impact of environmental and weather variables on COVID-19 cases and deaths in Istanbul. The findings show that air quality and temperature significantly influence COVID-19 infections and deaths, with temperature playing a crucial role in the spread of the virus.
ENVIRONMENTAL FORENSICS
(2023)
Article
Business
Umer Shahzad, Mohamed Elheddad, Julia Swart, Sudeshna Ghosh, Buhari Dogan
Summary: This paper empirically examines the effect of biomass energy consumption and economic complexity on environmental sustainability in G7 economies. The empirical findings show that both biomass energy consumption and economic complexity are detrimental to the ecological footprint and carbon footprint. Additionally, globalization has a positive effect on the environment, while bureaucratic quality improves environmental quality to some extent, and economic growth has detrimental effects on the environment.
BUSINESS STRATEGY AND THE ENVIRONMENT
(2023)
Article
Energy & Fuels
Gordon Rausser, Wadim Strielkowski, Grzegorz Mentel
Summary: This editorial paper discusses consumer attitudes towards energy reduction and changing energy consumption behaviors. It is especially relevant today as Europe is facing an unprecedented energy crisis due to a shift away from Russian supplies of oil and gas. The transition to renewable energy now appears to be in jeopardy, and it is unclear whether rising energy prices will significantly change consumer behavior and increase energy efficiency. However, changing energy consumption behaviors would have long-term benefits for combating climate change and sustaining economic growth.
Review
Energy & Fuels
Grzegorz Mentel, Anna Lewandowska, Justyna Berniak-Wozny, Waldemar Tarczynski
Summary: Taking into account various factors such as climate changes, fossil fuel scarcity, energy inefficiency, and population growth, transitioning towards green and renewable energy is recognized as a crucial goal and challenge worldwide. The energy sector contributes to approximately 75% of global greenhouse gas emissions, with energy-related emissions continuously rising. To achieve successful energy transition, innovation in technology, business processes, and policies is essential. This study conducted a bibliometric review and visual analysis to analyze the research size, structure, and dynamics of innovations in the field of green and renewable energy over the last decade, aiming to identify key topics and research trends. Gaps in green and renewable energy innovations were identified, providing insights for future research directions.
Article
Operations Research & Management Science
Umer Shahzad, Tuhin Sengupta, Amar Rao, Lianbiao Cui
Summary: This study investigates the interactions between energy commodity futures, oil price futures, and carbon emission futures from a forecasting perspective, considering the uncertainty surrounding their coupling and decoupling. Machine learning tools including multiple linear regression (MLR), artificial neural network (ANN), support vector regression (SVR), and long short-term memory (LSTM) are applied to analyze daily data on natural gas futures prices, crude oil futures prices, carbon futures prices, and Dow Jones energy commodity futures prices from January 2018 to October 2021. The machine learning analysis reveals that nonlinear frameworks outperform linear models in developing the relationships between future oil prices and carbon emission futures prices, and it also shows that carbon emission futures prices react nonlinearly to extreme movements in oil and natural gas prices. These findings have important implications for designing climate and environmental policies and adjusting natural gas and oil futures prices. The study contributes to Sustainable Development Goals, mainly SDG 7 and SDG 12.
ANNALS OF OPERATIONS RESEARCH
(2023)
Article
Geosciences, Multidisciplinary
Xin Zhao, Weiliang Tao, Xiaowei Ma, Chen Wang, Grzegorz Mentel
Summary: Recently, the issue of energy security has gained increased attention due to the reduction of energy resources and the emergence of problems such as unreasonable use. Investigating the relationship between environmental regulation and energy security is important to ensure energy security and promote national economic transformation. This study empirically analyzes the direct and spillover effects of environmental regulation on energy security, as well as the spatial heterogeneity and non-linear characteristics driven by fiscal decentralization and marketization. The results show regional differences and spatial dependence in China's energy security, and suggest that the positive impact of environmental regulation is enhanced when certain thresholds of fiscal decentralization and marketization are crossed. Relevant policy recommendations are also provided.
Article
Green & Sustainable Science & Technology
Cosimo Magazzino, Festus Fatai Adedoyin, Faik Bilgili, Umer Shahzad
Summary: The study investigates the relationship between tourism, income levels, and environmental degradation in the European Union (EU) after Brexit, focusing on the impact of governance. The findings suggest that as income levels increase, the influence of tourism on CO2 emissions decreases. However, per capita growth contributes to long-term carbon emissions. The study also reveals a unidirectional causal relationship from per capita growth to carbon emissions and from carbon emissions to tourism arrivals.
INTERNATIONAL JOURNAL OF SUSTAINABLE DEVELOPMENT AND WORLD ECOLOGY
(2023)
Article
Green & Sustainable Science & Technology
Daniel Balsalobre Lorente, Kamel Si Mohammed, Javier Cifuentes-Faura, Umer Shahzad
Summary: This paper investigates the relationship among the climate change index, green financial assets, renewable energy markets, and geopolitical risk index using Quantile Vector Autoregressive (QVAR) and wavelet coherence (WC) methods. The study finds that the Total connectedness index (TCI) varies depending on the quantile, with the highest TCI originating in the upper quantile. The TCI decreases after the second wave of COVID19 but increases during the first 100 days of the Russia-Ukraine conflict. Furthermore, the results show that Geopolitical risk (GPR) acts as a net transmitter of the climate change index during the Russian invasion of Ukraine. The green bond and clean energy markets are negatively correlated with the GPR at the extreme 10th and 90th quantiles. The wavelet coherence analysis confirms the QVAR results, suggesting that the climate change market can serve as a safe haven against GPR during the Russian invasion. The study emphasizes the importance of the climate change index, green financial assets, and clean energy in financial markets and their role in international peace and reducing geopolitical risk.
Article
Energy & Fuels
Muhammad Adnan Bashir, Dengfeng Zhao, Fouzia Amin, Grzegorz Mentel, Syed Ali Raza, Muhammad Farhan Bashir
Summary: In the contemporary time, global economies must comply with Sustainable Development Goals to achieve environmental and energy efficiency. Within the scope of environmental reforms, we analyze the role of electricity transition on carbon emissions for the period of 1995-2021. Our extensive empirical analysis shows that population growth and economic growth significantly contribute to environmental degradation. However, we find that natural resource rents, electricity transition, and human development ensure environmental sustainability. Based on our findings, we recommend promoting energy transition through electricity from renewable energy resources to tackle environmental challenges.
Article
Economics
Muhammad Zubair Chishti, Avik Sinha, Umer Zaman, Umer Shahzad
Summary: The recent progress report on the Sustainable Development Goals (SDG) 2022 highlights the existence of a policy gap at the global level in achieving SDG 7. The Energy Transition is identified as a possible means to achieve this objective. However, the geopolitical risks associated with global interconnectedness might impede the energy transition process. Therefore, a policy framework is needed to isolate the impacts of geopolitical risks and maximize the positive impacts of energy transition drivers.
Article
Business
Xin Zhao, Yong Xu, Laszlo Vasa, Umer Shahzad
Summary: Entrepreneurial activities are crucial for urban innovation, which is closely related to cities' economic development. This study utilizes fuzzy set qualitative comparative analysis to examine the combined effects of multiple elements of the entrepreneurial ecosystem on urban innovation in 34 representative cities in China. The findings reveal that well-designed government services and large markets are associated with high levels of urban innovation.
TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE
(2023)
Correction
Business
Muhammad Ibrahim Shah, Matteo Foglia, Umer Shahzad, Zeeshan Fareed
TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE
(2023)
Article
Environmental Studies
Minjie Pan, Xin Zhao, Kangjuan Lv, Joanna Rosak-Szyrocka, Grzegorz Mentel, Tadeusz Truskolaski
Summary: Since human beings entered the digital era, the Internet industry has played a crucial role in urban energy and industrial transformation. This study analyzes the impact of Internet evolution on urban carbon emissions using panel data from 283 cities in China. The empirical findings indicate that the Internet effectively promotes low-carbon urban transition by upgrading industrial structure, promoting green innovation, and strengthening environmental regulation. This research provides a significant theoretical basis for effectively advancing low-carbon transformation and development at the urban level in China from the perspective of Internet development.
Article
Environmental Studies
Kamel Si Mohammed, Rabeh Khalfaoui, Buhari Dogan, Gagan Deep Sharma, Urszula Mentel
Summary: The article examines the role of metal markets, gold resources, and clean energy markets in policy-making during the post-COVID-19 era and the Russia-Ukrainian military conflict. It analyzes the impact of fossil fuels, clean energy, and metals markets in the conflict, using event study methodology, Total connectedness index, and network analyses. The results show that natural gas and clean energy prices are less affected by the conflict compared to traditional energy and metals markets. The study also identifies key asset class transmitters and optimal hedge strategies.
Article
Business
Umer Shahzad, Kamel Si Mohammed, Nicolas Schneider, Francesca Faggioni, Armando Papa
Summary: This study uses deep learning and artificial neural network algorithms to predict the response of US GDP to supply chain disruptions, energy prices, economic policy uncertainty, and Google trends. The findings show that monthly GDP variations are highly sensitive to dynamic changes in supply chain performance, and Google trends play an important role in predicting GDP values.
TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE
(2023)
