Risk Connectedness among International Stock Markets: Fresh Findings from a Network Approach

Choi, Ki-Hong; Yoon, Seong‐Min

doi:10.3390/systems11040207

Cited by 5 publications

(1 citation statement)

References 71 publications

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“…The global financial crisis, the European debt crisis, and the COVID-19 turmoil have made changes in the international economic situation more difficult to predict [1,2]. The stock market, as a barometer of the economy, has also experienced sharp oscillations in the face of frequent changes in the external economic situation.…”

Section: Introductionmentioning

confidence: 99%

The impacts of economic policy uncertainty on firm cash holding in China

Chen,

Li,

Tang

et al. 2023

PLoS ONE

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Cash holding is an important strategic decision of enterprises. As a macro-level factor, economic policy uncertainty causes risks, affecting enterprises’ cash holdings. Taking the quarterly financial data of China’s A-share non-financial listed firms for 2010–2020 as a sample, this study adopts the OLS and fixed effect models to investigate how corporate cash holdings are affected by economic policy uncertainty. The findings indicate that economic policy uncertainty is directly proportional to the level of cash that listed corporations hold. The higher the uncertainty, the more cash the company holds. Among them, state-owned enterprises and the manufacturing industry are more significantly affected by economic policy uncertainty. Finally, considering the regional marketization level and the differences in financing constraints enterprises face, it is concluded through grouping empirical studies that enterprises located in regions with lower marketization levels are more susceptible to policy uncertainty, while financially constrained enterprises are more susceptible to economic policy uncertainty. The study of economic policy uncertainty is helpful to guide enterprises to realize the importance of coping strategies in advance under the background of intensifying economic policy uncertainty. Therefore, this paper proposes to introduce policies on the premise of fully considering the smoothness of the economy and the differences in the conditions of firms of different natures, as well as some proposals to alleviate financing constraints, reduce the adverse effects of uncertainty on firms, and bolster the marketization process.

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Section: Introductionmentioning

confidence: 99%

The impacts of economic policy uncertainty on firm cash holding in China

Chen,

Li,

Tang

et al. 2023

PLoS ONE

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Global Financial Market Spillovers to the Dhaka Stock Exchange: Strategic Insights From Trade‐Friendly Nations

Borman,

Nahiduzzaman,

Kuri

et al. 2024

Thunderbird Intl Bus Rev

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This study explores the strategic implications of global financial market spillovers on the Dhaka Stock Exchange (DSE), with a particular emphasis on the financial markets of Bangladesh's key trade partners. Leveraging daily price data, the analysis focuses on major equity indices from Bangladesh, the USA, China, Japan, Russia, and India, in addition to global green and commodity indices. The study employs advanced methodologies, including value at risk (VaR), conditional value at risk (CVaR), continuous wavelet transforms (CWT), wavelet coherence (WC), and time‐varying parameter vector autoregression (TVP‐VAR). The findings reveal that while the DSE demonstrates lower downside risk relative to global indices, certain global assets, such as WTICO, exhibit heightened tail risk. The wavelet analyses underscore significant volatility and co‐movements among key assets, particularly during periods of global crises, such as the COVID‐19 pandemic and the Russia–Ukraine conflict, highlighting the profound interconnectedness between global and regional markets and the DSE. Notably, global green and commodity assets provide potential safe haven benefits for Bangladeshi investors during times of crisis. The TVP‐VAR model further highlights the dynamic nature of volatility spillovers, identifying global green indices as key volatility transmitters, while the DSE retains robust internal market dynamics with reciprocal spillovers between DSE30 and DSEB. These insights suggest that Bangladesh should strategically integrate green and commodity assets into its financial markets to bolster market stability and protect investors amidst global uncertainties.

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Navigating median and extreme volatility in stock markets: Implications for portfolio strategies

Naeem

2024

International Review of Economics & Finance

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Risk Connectedness among International Stock Markets: Fresh Findings from a Network Approach

Cited by 5 publications

References 71 publications

The impacts of economic policy uncertainty on firm cash holding in China

The impacts of economic policy uncertainty on firm cash holding in China

Global Financial Market Spillovers to the Dhaka Stock Exchange: Strategic Insights From Trade‐Friendly Nations

Navigating median and extreme volatility in stock markets: Implications for portfolio strategies

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