Heterogeneous impacts of wars on global equity markets: Evidence from the invasion of Ukraine

Boubaker, Sabri; Goodell, John W.; Pandey, Dharen Kumar; Kumari, Vineeta

doi:10.1016/j.frl.2022.102934

Cited by 357 publications

(218 citation statements)

References 33 publications

Supporting

Mentioning

148

Contrasting

Order By: Relevance

“…Their aim is to improve customer satisfaction and overall competitiveness in the global marketplace [ 23 ]. On a global level, supply chains must quickly adapt to the changing world because of new situations such as the COVID-19 pandemic [ 24 ], the war in Ukraine [ 25 ], or climate change [ 26 ]. Convergence between the supply chain and sustainable operation was also defined [ 27 ], which was first focused narrowly (locally) and then transferred to the entire supply chain.…”

Section: Introductionmentioning

confidence: 99%

Boosting Sustainable Operations with Sustainable Supply Chain Modeling: A Case of Organizational Culture and Normative Commitment

Lazar

Potočan

Klimecka-Tatar

et al. 2022

IJERPH

View full text Add to dashboard Cite

The importance of sustainability in supply chain management is growing worldwide. It is possible to find reasons for this using various phenomena that negatively affect humanity, e.g., climate change, scarce materials, supply disruptions, and complex fossil fuel dependency. Because of that, is extremely important to constantly look for new ways to systematically increase sustainability in enterprises and their logistics and supply chain processes by considering different stakeholders and influential factors. Therefore, this paper explores how different types of organizational culture and normative commitment impact sustainability and each other in business logistics and supply chains and develops a conceptual model to manage this challenge. Gaining new insights is valuable especially for managers to obtain better information on how to improve sustainability not just by integrating green technologies but mainly by changing culture, attitude, and perception in their enterprises. The research is focused on employees from global logistics or related branches in micro, small, medium, and large enterprises with the primary activity mostly related to manufacturing, transport, and storage. The findings are based on the questionnaire which was sent directly to 1576 employees from 528 enterprises. A total of 516 employees from enterprises that are mostly located in 34 countries responded to requests for participation. The results reveal statistically significant positive and negative impacts, e.g., clan culture has a positive statistically significant impact on the sustainable development of supply chains. Most of the connections to the eighth Sustainable Development Goal by the United Nations (decent work and economic growth) were also found, which was the enterprise’s highest priority with a share of 52.99%. A contribution to the theory development is gained using the developed model that considers both positive and negative statistically significant impacts studied.

show abstract

Section: Introductionmentioning

confidence: 99%

Boosting Sustainable Operations with Sustainable Supply Chain Modeling: A Case of Organizational Culture and Normative Commitment

Lazar

Potočan

Klimecka-Tatar

et al. 2022

IJERPH

View full text Add to dashboard Cite

show abstract

“…This paper also examines the volatility connectedness between the Russian stock market index and indices selected from among the twenty largest stock exchanges by asset size. Studies including the effect of the Russia-Ukraine war on the financial markets can be listed as follows : Boubaker et al (2022), Boungou and Yatié (2022), Umar et al (2022), andYousaf et al (2022). Boubaker et al (2022) use an event study methodology and find that this invasion generated negative cumulative abnormal returns for global stock market indices, but with heterogeneous effects.…”

Section: Introductionmentioning

confidence: 99%

“…Studies including the effect of the Russia-Ukraine war on the financial markets can be listed as follows : Boubaker et al (2022), Boungou and Yatié (2022), Umar et al (2022), andYousaf et al (2022). Boubaker et al (2022) use an event study methodology and find that this invasion generated negative cumulative abnormal returns for global stock market indices, but with heterogeneous effects. They also indicate that the war had a strong negative impact on the global indices on the event of February 24, 2022, followed by a positive impact on the very next day.…”

Section: Introductionmentioning

confidence: 99%

TVP-VAR Tabanlı CARR Oynaklık Bağlantılılığı: Rusya-Ukrayna Çatışmasından Kanıtlar

Arı¹

2022

EPF Journal

View full text Add to dashboard Cite

Bu çalışma Zamanla Değişen Parametreli Vektör Otoregresif (TVP-VAR) tabanlı Diebold-Yılmaz yaklaşımı ile Koşullu Otoregresif Aralık (CARR) sürecinden elde edilen oynaklıklar arasındaki yayılmayı incelemeyi amaçlamaktadır. Çalışmada volatiliteleri tahmin etmek için Gumbel olasılık dağılımına sahip CARR (1,1) uygulanmıştır. Özet istatistikler serilerin normal dağılım göstermediğini ve inovasyonların Gumbel dağılımına uyduğunu göstermektedir. Ayrıca elde edilen oynaklık serileri durağandır. Bunların yanında tüm serilerde ve kare serilerde anlamlı bir otokorelasyonun ortaya çıktığı gözlemlenmiştir. Bu nedenle, zamanla değişen varyans-kovaryans yapısına sahip bir TVP-VAR modeli tüm bu ampirik özellikleri yakalamak için uygun bir ekonometrik çerçevedir. Metodolojik yaklaşıma örnek olarak Ukrayna-Rusya Savaşının küresel piyasalar üzerindeki etkisini ortaya koyan bir uygulama sunulmuştur. Bu amaçla, bağlantılılık analizini gerçekleştirmek için varlık büyüklüğüne göre küresel ölçekte en büyük yirmi borsa arasından seçilen endeksler ile Rus borsa endeksi verisini içeren TVP-VAR analizi iki gruba ayrılmıştır. İlk grubu oluşturan panelde Rus borsa endeksinin oynaklığı dahil edilmezken, ikinci panele dahil edilerek ortalama toplam bağlantılılık endeksleri hesaplanmıştır. Bulgular, toplam bağlantılılık endeksinin ilk panelde %79,91 olduğunu ve Rusya pazarının eklenmesiyle %81,44'e yükseldiğini göstermektedir.

show abstract

“…This major geopolitical event will inevitably have a fatal impact on all walks of life. Stock markets of more globalized economies worldwide are more vulnerable to being negatively affected by the crisis, but the effects are heterogeneous across different countries (Boubaker et al, 2022).…”

Section: Introductionmentioning

confidence: 99%

UK, US, and China’s Stock Market Reactions to The Russia-Ukraine War: An Inspection across Industries

Qian¹,

Wang²

2022

BCPBM

View full text Add to dashboard Cite

The Russia-Ukraine crisis is expected to have a considerable impact on the global economy. By applying the event study approach, we examine the effect of the war on the UK, the US, and China across ten major industries over different lengths of the event window around 22 February 2022. The observed significant cumulative abnormal returns (CAR) in specific industries, along with the differences between nations, are comprehensively analyzed with actual situations faced by each country. Through comparisons, the UK is concluded to be mainly more affected by the crisis than the US and China, especially in the material, information technology, and consumer staples industries. Notably, all three countries are observed to have positive and significant CARs across the event window, which provides strong evidence of the adverse impact of the Russia-Ukraine war on the global energy supply. In other industries, the harmful effects of the crisis vary from countries. This study could provide a new, broad inspection of the ongoing crisis at a macro level and a substantial information reference for policymakers.

show abstract

Heterogeneous impacts of wars on global equity markets: Evidence from the invasion of Ukraine

Cited by 357 publications

References 33 publications

Boosting Sustainable Operations with Sustainable Supply Chain Modeling: A Case of Organizational Culture and Normative Commitment

Boosting Sustainable Operations with Sustainable Supply Chain Modeling: A Case of Organizational Culture and Normative Commitment

TVP-VAR Tabanlı CARR Oynaklık Bağlantılılığı: Rusya-Ukrayna Çatışmasından Kanıtlar

UK, US, and China’s Stock Market Reactions to The Russia-Ukraine War: An Inspection across Industries

Contact Info

Product

Resources

About