The Impact of Oil Price Fluctuations on Industry Stock Returns: Evidence from International Markets

Randjbaran, Elias; Tahmoorespour, Reza; Rezvani, Marjan; Safari, Meysam

doi:10.31580/jmi.v5i1.26

Cited by 5 publications

(4 citation statements)

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“…Waheed et al (2018) found direct strong association between oil price changes & stock return (Filis et al, 2011) found strong negative relationship between stock market prices and oil price in case of any non-economic crisis. Tahmoorespour et al (2018) showcased that price volatility of oil, mainly impact the oil & gas industry as well as chronological impact on mining industry but have an insignificant or least effected food & beverage industry.…”

Section: Literature Reviewmentioning

confidence: 99%

Untitled

2019

Asian Journal of Economic Modelling

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Section: Literature Reviewmentioning

confidence: 99%

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2019

Asian Journal of Economic Modelling

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“…Fluctuations in fuel prices have been demonstra ted to impact stock returns in various industries, including the airline and petroleum sectors. Research has indicated that oil price fluctuations predominantly affect the Oil and Gas and Mining industries (Randjbaran et al, 2018). Within the aviation sector, fuel price shocks lead to fluctuations in airline stock returns, with American Airlines, Delta Air Lines, United Airlines, and US Airways showing statistically significant negative relationships between their stock returns and fuel price shocks (Hsu, 2017).…”

Section: The Effect Of Fuel Price Fluctuations On Stock Returnsmentioning

confidence: 99%

The Effect of Fuel Price Fluctuations, Exchange Rates, and Profitability on Stock Returns and Inflation as Intervening Variables

Satoto

2023

j.imb

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This study aims to analyze the impact of fuel price fluctuations, exchange rates, and profitability on inflation and stock returns. The study employs statistical analysis utilizing SEM techniques and is tested using Smart PLS version 3.0. The study reveals that Fuel price fluctuations have no effect on Inflation. The direction of the relationship between Exchange Rate and Inflation is negative. Profitability has no effect on Inflation. Fuel price fluctuations have no effect on stock returns. Exchange rate has a significant effect with a positive direction on stock returns. Profitability has no direct effect on stock returns. Inflation has a significant effect directly with a negative direction on Stock Returns. Exchange rate has no effect on stock returns through inflation as an intervening variable. Profitability has a significant effect with a positive direction on stock returns through inflation as an intervening variable. The novelty in research is inflation as an intervening variable. Investors are advised that fluctuations in fuel prices and inflation rates need not be a primary concern in their investment decisions. Instead, the focus should be on assessing the potential impact of these factors on company profits. Consequently, investors should emphasize monitoring stock returns periodically while also taking into account variables that could influence a company's stock returns. The study is limited in its scope by examining only three independent variables—Fuel Price Fluctuations, Exchange Rates, and Profitability. Additionally, the research is confined to the period from 2013 to 2017.

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“…Questions of statistical analysis of the market indices are the subject of research in the scientific works of both domestic (Almosov et al, 2019;Bobkov and Skorina, 2019;Orlov, 2018;Rusakovich and Malyutina, 2018;Shkarina, 2019;Mikhailov 2018) and foreign experts (Bass, 2017;Marashdeh and Afandi, 2017;Randjbaran, et al, 2018;Waheed, 2018;Ferrera et al, 2019). Some researchers, such as (Orlov, 2018;Bass, 2017), determine that in the near future a significant factor of influence on the oil market development (and then the industry market) should be the formation of a special trade regime for fuel within the WTO.…”

Section: Review Of Literaturementioning

confidence: 99%

Statistical Analysis of the Relationship Between Oil Prices and Industry Index Prices

Akbulaev

Rahimli²

2020

IJEEP

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The article is devoted to the study of the relationship between the level of industry indices and the oil market. It is proved that there are positive and negative effects associated with an increase in sales and oil prices and world indices. It is very difficult to establish a clear relationship between the level of industry indices and the development of the oil market, but statistical methods help to identify existing relationships. The purpose of the article is to identify the relationship between oil price and industry index prices through statistical analysis. The objectives of the work are: to consider existing approaches to assessing the relationship between oil price and prices of industry indices through the review of literature, to consider theoretical aspects of the relationship between oil prices for indices of stock exchanges, to form a model of statistical analysis and to check it on specific data of the Moscow Stock Exchange. Statistical analysis of the relationship between oil prices and industry index prices has helped international organizations to develop preventive measures to support positive market effects and to boost global markets.

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The Impact of Oil Price Fluctuations on Industry Stock Returns: Evidence from International Markets

Abstract: This study investigates the impact of oil price variation on 14 industries in six markets,

Cited by 5 publications

References 43 publications

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The Effect of Fuel Price Fluctuations, Exchange Rates, and Profitability on Stock Returns and Inflation as Intervening Variables

Statistical Analysis of the Relationship Between Oil Prices and Industry Index Prices

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