Net investment position and the stock market: The case of traditional and ESG indices

Slepecký, Jaroslav; Воронцова, Анна; Plastun, Alex; Makarenko, Inna; Zhyhlei, Iryna

doi:10.21511/imfi.19(2).2022.05

Cited by 7 publications

(3 citation statements)

References 15 publications

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“…Another worthwhile scientific research is devoted to the factors influencing investment decisions, which, in addition to traditional ones (risk and income - Shivaprasad et al, 2022), began to include behavioral aspects (Quaicoe & Eleke-Aboagye, 2021), as well as external environment factors. Slepecký et al (2022) investigated how traditional and ESG stock market indices affect a country's net international investment position.…”

Section: Literature Reviewmentioning

confidence: 99%

Priorities of Impact Investing in Environmental Protection Projects: The Case of the Future Post-War Reconstruction of Ukraine

Rieznyk,

Treus,

Kozmenko

2023

Business: Theory and Practice

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The purpose of this article is to identify environmental protection projects for priority impact investing on the example of the future post-war reconstruction of Ukraine. To evaluate priorities, it is proposed to use the results of a survey of ten independent experts in the field of environmental projects and ecology, belonging to the public, private and non-profit sectors of Ukraine. The survey includes an assessment of environmental protection projects based on the importance and effectiveness of their impact, the characteristics of stakeholders, the duration and risks of the projects, their contribution to the environment and sustainable development. The obtained scores are ranked based on the criteria of Laplace, Wald, Hurwitz, Savage, and Bord and Condorcet rules. In accordance with this, the most priority projects for impact investing are environmental protection projects aimed at land reclamation, conservation and protection, forest restoration, implementation of the national system of trading quotas for greenhouse gas emissions, and eco-modernization of industrial and infrastructural enterprises. This indicates the need for a comprehensive multi-vector approach to the selection of priority areas for impact investing. The lessons learned will be useful for the effective direction or selection of investment projects, their forecasting and analysis.

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Section: Literature Reviewmentioning

confidence: 99%

Priorities of Impact Investing in Environmental Protection Projects: The Case of the Future Post-War Reconstruction of Ukraine

Rieznyk,

Treus,

Kozmenko

2023

Business: Theory and Practice

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“…The modern economic literature on the outlined subject research offers many approaches and methods of analysis and forecasting of the dynamics of world stock indices. For example, (Slepecký et al, 2022) examine the impact of traditional stock market indices on the country's net international investment position. For this, the authors suggest the use of such methods as ANOVA analysis, multiple regression analysis, correlation analysis, VAR analysis, and R/S analysis, as well as a test of causal relationships.…”

Section: Literature Reviewmentioning

confidence: 99%

Analysis of the Dynamics of Europe Stock Markets Development

Serhiienko,

Bril,

Baranova

et al. 2023

ФКДПТП

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The article proposes a complex of economic and mathematical models of assessment, analysis, and forecasting of the world stock indices development state for effective management of investment flows. The modern concept and strategy of European countries’ stock market development were considered, and the existing methods of diagnosing the stock market development level were analyzed. ARIMA models were built and spectral analysis of the main world indices was carried out. The possible trends in the stock indices development for the future period were analyzed using predictive models. It makes it possible to determine directions for improving the stock market efficiency and investment strategies in modern conditions.The proposed set of models for evaluation, analysis, and forecasting of the world stock indices state can be used to test various trading strategies and to test various hypotheses in relation to the entire stock portfolio of a particular company or to one stock index. The results of the research can be used in the development of theoretical provisions and methodological tools for evaluating the global stock market effectiveness in modern conditions and development trends in local markets.

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“…A review of scientific works directly related to the impact of stock indices and responsible investments (including ESG indices) on Ukraine and Austria's net international investment position showed their absence. The only exception is the article by Slepecký et al (2022), which examines the impact of stock indices from Finland, Sweden, France, Spain, and Ukraine on the net international investment position.…”

Section: Literature Reviewmentioning

confidence: 99%

Forecasting the net investment position based on conventional and ESG stock market indices: The case of Ukraine and Austria

Plastun

Makarenko

Salabura

et al. 2022

Investment Management and Financial Innovations

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This paper examines the relationship between traditional and ESG stock market indices and the net international investment position for the case of Austria and Ukraine. For these purposes, the following methods are used: variance analysis, ANOVA analysis, correlation analysis, VAR analysis, R/S analysis, and Granger causality test. According to the results, ESG indices are less volatile than conventional ones. Based on the correlation analysis, it is concluded that there is a significant direct connection between ESG indices and their traditional counterparts (0.98 for Austria and 0.68 for Ukraine). A substantial level of persistence in Austria’s investment position indicates the possibility of using autoregression models for forecasting. The results of the net investment position modelling for the case of Austria showed a statistically significant impact of stock market indices on the net investment position. But for the case of Ukraine, this impact is insignificant. This is indirect evidence in favor of poor performance of the Ukrainian stock market. Further development of Ukrainian stock market is required, because Austrian experience showed that stock market can be used as a transmission mechanism in boosting investment position both within conventional approach and ESG. Acknowledgment Alex Plastun, Mario Situm, Inna Makarenko, and Yulia Serpeninova gratefully acknowledge support from Ministry of Education and Science of Ukraine (0122U002659).

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Net investment position and the stock market: The case of traditional and ESG indices

Cited by 7 publications

References 15 publications

Priorities of Impact Investing in Environmental Protection Projects: The Case of the Future Post-War Reconstruction of Ukraine

Priorities of Impact Investing in Environmental Protection Projects: The Case of the Future Post-War Reconstruction of Ukraine

Analysis of the Dynamics of Europe Stock Markets Development

Forecasting the net investment position based on conventional and ESG stock market indices: The case of Ukraine and Austria

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