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Article
Economics
Tianle Yang et al.
Summary: This paper investigates the relationships between the global oil market, stock markets, and economic policy, focusing on China and the US. The research finds significant correlations between the volatility of the two countries' stock markets and fluctuation in the global oil price. The US stock market has a greater impact on the global oil market compared to the Chinese stock market, and an increase in economic policy uncertainty in the two countries exacerbates fluctuation in the global oil price.
QUARTERLY REVIEW OF ECONOMICS AND FINANCE
(2023)
Article
Business, Finance
Peng-Fei Dai et al.
Summary: This article investigates the impact of European and global economic policy uncertainty on the volatility of the European carbon market and finds that both factors exacerbate the long-term volatility of the carbon spot return, with global economic policy uncertainty having a stronger effect. The study also reveals that global economic policy uncertainty can better predict the volatility of the carbon spot return, providing valuable insights for market managers and participants.
JOURNAL OF COMMODITY MARKETS
(2022)
Article
Business, Finance
Wang Fengrong et al.
Summary: The study shows that economic policy uncertainty leads to declining stock liquidity, and managers respond by producing more information. Furthermore, high-quality information disclosure can mitigate the negative impact of economic policy uncertainty on stock liquidity.
RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE
(2022)
Article
Green & Sustainable Science & Technology
Fangping Rao et al.
Summary: This study aims to measure energy poverty using a multidimensional approach, combining indicators from N11 countries over a period of 16 years. Results show an overall alleviation of energy poverty, with Bangladesh and Pakistan being the most vulnerable economies, and the Philippines, Indonesia, and Vietnam less prone to energy poverty. Variations in energy poverty were found among N11 countries, with South Korea showing improvement and Iran displaying a fluctuating trend. The study emphasizes the importance of cross-border comparisons in regions with similar circumstances.
SUSTAINABLE PRODUCTION AND CONSUMPTION
(2022)
Article
Economics
Tiezhen Yuan et al.
Summary: This study investigates the impact of economic policy uncertainty (EPU) on corporate social responsibility (CSR) engagement in Chinese listed firms. The findings show a significant positive relationship between EPU and firms' CSR engagement. The results support the "sending signal hypothesis" that firms tend to adopt more CSR engagement during periods of higher uncertainty to signal their stakeholders.
ECONOMIC MODELLING
(2022)
Article
Environmental Studies
Faheem Aslam et al.
Summary: This study combines STL and MFCCA to estimate the cross-correlations between the evolution of EPU of the USA and return of metals, finding nonlinear dependencies and multifractality between them. Precious metals show persistent cross-correlations while industrial metals have anti-persistent cross-correlations with EPU.
Article
Business, Finance
Ji Wu et al.
Summary: This paper investigates the impact of economic uncertainty on the relationship between monetary policy and bank risk. Using panel data from 2000 to 2018 on approximately 1100 public banks in 43 economies, consistent evidence is found that higher economic uncertainty weakens the risk-taking channel of monetary policy. This finding aligns with the option value of waiting hypothesis, suggesting that economic uncertainty may lead banks to withhold adjustments to their risk-taking strategies when monetary policy changes.
JOURNAL OF INTERNATIONAL MONEY AND FINANCE
(2022)
Article
Business, Finance
Oleg Deev et al.
Summary: This paper analyzes the impact of policy intervention and response announcements on the realized volatility in financial markets in 23 countries during the COVID-19 pandemic. The study finds that the international calming effect of COVID-19 economic policy actions originates from the macroprudential policy announcements in the US.
RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE
(2022)
Article
Business, Finance
David Batista Soares et al.
Summary: This article addresses the issue of rational destabilization in commodity markets. Using a three-period model, the study reveals that the increased risk management of technical trading leads to greater volatility in spot prices and negatively affects long hedging. Additionally, the article highlights the caveats regarding empirical measures of hedging pressure and excessive speculation, which may introduce bias.
JOURNAL OF COMMODITY MARKETS
(2022)
Review
Green & Sustainable Science & Technology
Himadri Rajput et al.
Summary: The novel coronavirus originated in China has now spread to approximately 213 countries globally, posing a health calamity and international emergency. The emergence of COVID-19 has caused global declines in commodity prices, particularly affecting the oil market due to travel restrictions. The ultimate impact of the pandemic is expected to have long-lasting implications.
ENVIRONMENT DEVELOPMENT AND SUSTAINABILITY
(2021)
Article
Environmental Sciences
Hou Yumei et al.
Summary: The study finds a positive impact of corporate social responsibility on firm performance, especially in the case of local companies in Pakistan, where environmental CSR has the most significant influence on company reputation and employee commitment.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2021)
Article
Environmental Sciences
Yaming Zhang et al.
Summary: This study assessed the impact of population, energy taxes, and energy prices on greenhouse gas emissions from residential and industrial energy consumption in Europe. The results showed that rising energy prices and increased energy taxes can reduce greenhouse gas emissions. It also found that increasing population size leads to higher residential emissions, while urbanization process decreases them.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2021)
Article
Economics
Michael A. Ellis et al.
Summary: The study shows that an increase in economic policy uncertainty is associated with a preference for monetary policy easing among Federal Open Market Committee meeting participants, especially non-voting presidents of Federal Reserve Banks.
Article
Environmental Studies
Ismail O. Fasanya et al.
Summary: This study finds that U.S. economic policy uncertainty has a significant impact on the connectedness between oil and exchange rate markets, nonlinear consideration is crucial in the research, and spillover is driven by economic policy uncertainty in different quantile ranges.
Article
Environmental Studies
Yanpeng Sun et al.
Summary: The increasing financialization of energy and commodity markets presents tradeoffs for investors and consumers, with the long-term study showing bidirectional causality between oil and agricultural commodity prices. Surprisingly, both agricultural commodity prices and oil prices remained immune to shocks during the COVID-19 pandemic.
Article
Business, Finance
Zhen Yu et al.
Summary: The study shows that economic policy uncertainty leads firms to prefer vertical mergers over other types of mergers. High relationship concentration and poor judicial quality exacerbate this effect, particularly for risk-averse firms. The results support incomplete contract theory and suggest that policy uncertainty increases hold-up risk, leading firms to opt for vertical integration to mitigate transaction costs.
PACIFIC-BASIN FINANCE JOURNAL
(2021)
Article
Economics
Saumya Ranjan Dash et al.
Summary: This paper investigates the relationship between economic policy uncertainty and energy prices, finding co-movement and causality in the oil sector, but low correlation between oil futures price returns and spot price returns.
QUARTERLY REVIEW OF ECONOMICS AND FINANCE
(2021)
Article
Business, Finance
Quoc Trung Tran
Summary: The study shows that economic policy uncertainty positively affects the cost of debt financing, with a stronger impact during the global financial crisis from 2008 to 2009. Additionally, the research findings indicate that large firms' debt financing costs are less affected by economic policy uncertainty.
NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE
(2021)
Article
Business, Finance
Huiming Zhu et al.
Summary: The study shows that the total connectedness between EPU, oil, and commodities becomes stronger as the time scale increases. The net connectedness of EPU and WTI is positive in the system, and during financial crises the connectedness remains at a high level, with EPU and crude oil contributing significantly to commodities.
NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE
(2021)
Article
Economics
Kexuan Zhou et al.
Summary: This study investigates the impact of economic policy uncertainty on the choice of entry mode for Outward Foreign Direct Investment (OFDI) by Chinese enterprises. The research finds that when economic policy uncertainty decreases, enterprises tend to choose cross-border mergers and acquisitions over greenfield investments.
JOURNAL OF ASIAN ECONOMICS
(2021)
Article
Business, Finance
Muhammad Tahir Suleman et al.
Summary: This study reveals significant asymmetric volatility connectedness between the DJIM and commodity markets, with DJIM and the Brent oil market being the main contributors to spillovers. Negative volatilities are associated with net transmission of spillovers to other markets in an asymmetric manner.
GLOBAL FINANCE JOURNAL
(2021)
Article
Thermodynamics
Xiwen Bai
Summary: This study examines the dynamic relationship between global economic policy uncertainty and tanker freight rates, revealing the vulnerability of the tanker shipping market to global political and economic risks. The findings demonstrate significant time variations in the dependence structure between GEPU and tanker freight indices over different time scales.
Article
Economics
Muhammad Mohsin et al.
Summary: This study used data from forty-eight countries in five different regions to analyze the impact of energy reforms on energy efficiency. Results show varying performances among countries, with Sub-Saharan Africa seeing improvement after implementing energy reform. The study confirms that energy reform is a good means to achieve high energy efficiency and reduce per-unit energy cost.
Article
Environmental Sciences
Fang Yu Fu et al.
Summary: This study evaluates the top ten countries in terms of energy efficiency using the Energy Trilemma Index, finding Denmark and Germany to be leading in energy performance. It also suggests that a higher energy price could lead to a shift towards renewable alternatives and cleaner energy consumption through carbon valuation, ultimately maximizing profits while reducing greenhouse gas emissions.
JOURNAL OF ENVIRONMENTAL MANAGEMENT
(2021)
Article
Green & Sustainable Science & Technology
Muhammad Shafiullah et al.
Summary: This study models the impact of economic policy uncertainty on renewable energy consumption in the USA using nonparametric econometric approaches, finding a negative long-run association between the two variables. The results highlight the importance of maintaining consistency in economic policy to encourage renewable energy consumption in the USA.
Article
Business, Finance
Longfei Shang et al.
Summary: The study revealed that non-lobbying firms are less likely to initiate lobbying during periods of heightened Economic Policy Uncertainty (EPU). This may be due to the barriers of lobbying entry costs and returns to experience.
JOURNAL OF CORPORATE FINANCE
(2021)
Article
Environmental Studies
Peng Chen et al.
Summary: The study finds that a large proportion of fluctuations in China's commodities is attributed to cross-sector connectedness, which behaves differently across sectors in the commodity market. Over time, most sectors frequently switch between a net transmitting and receiving role, while spillover effects across sectors increase during unstable periods.
Article
Environmental Studies
Qiang Ma et al.
Summary: The study found that in the Covid-19 period, the prices of natural resource commodities in China were more vulnerable than economic performance, but there was a bidirectional causal relationship between them at different frequencies and time periods. The volatility in natural resource commodity prices significantly affected economic performance only in the medium-run according to the frequency domain causality test.
Article
Environmental Studies
Zaghum Umar et al.
Summary: This study examines the interdependence between agricultural commodities and oil price shocks in terms of joint return and volatility. It finds that the directional return and volatility connectedness of oil risk shocks are higher than oil demand shocks, particularly during economic crises. The net return connectedness measure significantly increases during major crises, emphasizing differences between transmitters (Canola and Corn) and receivers (Orange Juice, Lean Hog, Sugar and Rubber) in agricultural commodity markets.
Article
Business, Finance
Alexandre R. Scarcioffolo et al.
Summary: This study reveals different volatility patterns for oil and natural gas prices. Through quantile regression analysis, it is found that economic policy uncertainty increases the probability of turbulent market conditions for both commodities, although this effect has weakened in the post-shale period.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2021)
Article
Business, Finance
Cheng Zhang et al.
Summary: The research found that an increase in economic policy uncertainty will facilitate corporate risk-taking through financialization. Product market competition strengthens this effect, while financial market friction restricts it.
PACIFIC-BASIN FINANCE JOURNAL
(2021)
Article
Business, Finance
Hyonok Kim et al.
Summary: The study found a negative relationship between economic policy uncertainty (EPU) and earnings management in Japan, with main banks and analysts playing a moderating role in this relationship. When EPU increases, managers have less incentive to reduce earnings management, and the presence of main banks and analysts further influences this dynamic.
JOURNAL OF FINANCIAL STABILITY
(2021)
Article
Economics
Shaobo Long et al.
Summary: Investment has played a significant role in driving economic growth in China, but the growth rate of fixed asset investment in the country has shown a downward trend in recent years. Identifying the main influencing factors of China's investment is crucial for formulating stable investment policies.Using the nonlinear autoregressive distributed lag (NARDL) model, this study found that economic policy uncertainty, capital cost, and raw material cost have asymmetrical impacts on China's fixed asset investment.
ECONOMIC ANALYSIS AND POLICY
(2021)
Article
Multidisciplinary Sciences
Wenyi Yan et al.
Summary: This research presents a three-dimensional methodology considering supply safety, domestic economy, and environmental risk, specifically tailored to Chinese industrial conditions. In total, 64 materials were assessed, with 18 metals classified as highly critical in the three-dimensional criticality space. The findings provide decision-makers with insights for strategic resource management.
Article
Green & Sustainable Science & Technology
Asikha Aktar et al.
Summary: The COVID-19 pandemic has had a huge impact on the global economy, energy demand, and CO2 emissions, with lockdowns causing global economic shocks. The study presents policy suggestions to address the pandemic, economic downturn, and climate crisis, helping decision-makers move in a better direction.
SUSTAINABLE PRODUCTION AND CONSUMPTION
(2021)
Article
Engineering, Environmental
Wasim Iqbal et al.
Summary: The study reveals a positive correlation between air pollution, particularly nitrogen dioxide and PM2.5, and the number of NCOV-2019 cases and deaths in China. A slight rise in air pollution, as represented by PM2.5, has caused a significant increase in both cases and deaths of NCOV-2019.
PROCESS SAFETY AND ENVIRONMENTAL PROTECTION
(2021)
Article
Economics
Daniele Bianchi
Summary: The study finds that the time variation in commodity futures risk premiums is mainly driven by hedging vs speculation decisions and past performances. The model-implied risk premiums significantly correlate with proxies of risk quantity. The empirical analysis also shows evidence of business cycle fluctuations in the relationship between hedging pressure and risk premiums over different horizons.
JOURNAL OF ECONOMIC DYNAMICS & CONTROL
(2021)
Article
Business, Finance
Peng-Fei Dai et al.
Summary: This study constructs a global economic policy uncertainty index through principal component analysis, finding it to be a good proxy for global economic policy uncertainty and positively correlated with market volatility and correlation. The PCA-based index performs slightly better than GDP-weighted index in representing the relationships between uncertainty and market dynamics.
FINANCE RESEARCH LETTERS
(2021)
Article
Economics
Hardik A. Marfatia et al.
Summary: This study assesses the dynamic impact of U.S. monetary policy announcements on oil market futures returns and volatility, finding significant time variation in the response. Higher uncertainty about Federal Reserve policy actions is associated with weaker impacts on oil returns and volatility.
QUARTERLY REVIEW OF ECONOMICS AND FINANCE
(2021)
Article
Business, Finance
Xiaoyun Wei et al.
Summary: The study shows that the COVID-19 pandemic weakened the transmission of monetary policy to financial markets significantly. Both conventional and unconventional monetary policies did not have significant effects on all four financial markets during the sample period, but unconventional policies were slightly more effective in affecting the stock and exchange rate markets.
INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
(2021)
Article
Business, Finance
Jianlei Yang et al.
Summary: The study finds that the economic policy uncertainty dispersion index can predict the excess returns of Chinese stock market portfolios positively, with a stronger impact observed in small-stock portfolios.
FINANCE RESEARCH LETTERS
(2021)
Article
Environmental Studies
Mobeen Ur Rehman et al.
Summary: The study reveals low to moderate integration among energy, precious metal, and industrial metal commodities in the short and medium-term investment periods, with coherence level increasing in the long-term under bearish and normal market conditions.
Article
Business, Finance
Huayu Shen et al.
Summary: This study examines the impact of economic policy uncertainty on stock price synchronicity in China, finding a significant negative effect. Various factors such as managerial ownership and institutional investors can attenuate or reinforce this influence. Robustness tests confirm these results.
PACIFIC-BASIN FINANCE JOURNAL
(2021)
Article
Business, Finance
Hong Huang et al.
Summary: The study suggests that economic uncertainty has a check-and-balance relationship with executive turnover. Executives are more likely to leave during corporate distress, but firms carefully consider executive changes in light of internal and external risk, reducing the likelihood of turnover.
CHINA JOURNAL OF ACCOUNTING RESEARCH
(2021)
Article
Economics
Jie Li
Summary: This study examines the interaction between economic policy uncertainty and contracting frictions on importers' choice of sourcing. Using US Related Party Trade dataset and Economic Policy Uncertainty dataset, it found that importers in high contract intensity industries increase intra-firm trade share in response to elevated economic policy uncertainty, with a more pronounced effect observed in developing countries.
Article
Economics
Qi Liang et al.
Summary: Our study finds that macroeconomic announcements, although necessary, may not be sufficient to drive the gold futures market. The media, as a crucial intermediary, plays a vital role in news absorption, with a stronger effect from national and political media. Additionally, the gold futures market asymmetrically reacts to good and bad news, with significant market responses only triggered by reporting on good news.
ECONOMIC MODELLING
(2021)
Article
Economics
Xunpeng Shi et al.
Summary: This study fills the gap in examining the role of macroeconomic uncertainty in natural gas pricing, showing that macroeconomic uncertainty is crucial in determining natural gas price variations. The impact of uncertainty on gas pricing is moderate but significant compared to oil price, with market-specific supply and demand drivers in three different markets contributing to the understanding of the Asian Premium phenomenon in natural gas trade.
Article
Transportation
Theo Notteboom et al.
Summary: This paper investigates the temporal and spatial sequences of the supply and demand shocks of COVID-19 on container ports and the container shipping industry by comparing these events to the 2008-2009 financial crisis. The study analyzes short-term impacts, differences, reasons for variations, and strategic behavior of market players, revealing different adaptation mechanisms and outcomes between the financial crisis and COVID-19. The impacts of external shocks like COVID-19 are determined by the integration of ports and the shipping industry within complex supply chains.
MARITIME ECONOMICS & LOGISTICS
(2021)
Article
Economics
Abdullahi D. Ahmed et al.
Summary: The study reveals a strong dependence of the Chinese stock market on the oil market and significant impact on key commodities indicators in China. There are significant interactions between the Chinese stock market, global oil market, and commodity markets. While bidirectional shocks spillovers exist between oil and stock markets, there are unidirectional volatility spillovers from the oil market to the Chinese stock market.
Article
Environmental Sciences
Muhammad Khalid Anser et al.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2020)
Article
Environmental Sciences
Hao Dai et al.
JOURNAL OF COASTAL RESEARCH
(2020)
Article
Environmental Sciences
Ping Xiang et al.
JOURNAL OF COASTAL RESEARCH
(2020)
Article
Engineering, Chemical
Maryam Khokhar et al.
Article
Management
Neharika Sobti
IIMB MANAGEMENT REVIEW
(2020)
Article
Business, Finance
Mohamed A. Ayadi et al.
FINANCE RESEARCH LETTERS
(2020)
Article
Economics
Yanli Zhu et al.
Article
Environmental Studies
Min Hu et al.
Article
Economics
Yongna Yuan et al.
Article
Environmental Studies
Sufang An et al.
Article
Economics
Yezhou Sha et al.
ECONOMIC MODELLING
(2020)
Article
Business, Finance
Chen Liming et al.
FINANCE RESEARCH LETTERS
(2020)
Article
Engineering, Chemical
Yumei Hou et al.
Article
Environmental Studies
David Y. Aharon et al.
Article
Business, Finance
Dimitrios Bakas et al.
JOURNAL OF INTERNATIONAL MONEY AND FINANCE
(2018)
Article
Business, Finance
Qiang Ji et al.
INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
(2018)
Article
Thermodynamics
Qingfeng Wang et al.
Article
Economics
Riadh Aloui et al.
Article
Economics
S Ng et al.
