The spillover effect between Chinese crude oil futures market and Chinese green energy stock market

Li, Jingpeng; Umar, Muhammad; Huo, Jiale

doi:10.1016/j.eneco.2023.106568

Cited by 51 publications

(4 citation statements)

References 51 publications

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“…The dataset is composed of weekly data on Dubai crude oil forecast prices and stock market portfolio indexes of Korea, spanning the period from the first Friday of June (date: 13 June) in 2014 to the last Friday of December (date: 23 December) in 2022. The time span and observations are sufficient enough compared with many recent works covering even less than 8 years, such as Li et al (2023), Mo et al (2023), Zalfaghari et al (2020), and so on. Also, this paper examines 20 portfolio indexes that are officially classified by the Korea Exchange Market (KRX).…”

Section: Methodology: Data and Estimation Modelmentioning

confidence: 97%

Estimating Spillover Effect from International Oil Market to Stock Market: Evidence from Korean Portfolio-Level Analysis

Choi

2024

Economies

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Using a diagonal BEKK model, this paper estimates a spillover effect from the international crude oil market to the Korean stock market. Empirical results suggest that shocks and volatility in Dubai oil prices are significantly transmitted into twenty portfolios of the Korean stock market. Also, it was found that these spillover effects dramatically rose during the year 2020, when the threat of COVID-19 was the most serious. More specifically, oil-oriented portfolios, such as the power and gas firms’ portfolio and chemical firms’ portfolio, had a greater spillover effect from the international crude oil market rather than other portfolios. Further, compared to larger-capitalization firm portfolios, small-capitalization firm portfolios had a relatively greater spillover effect. Several implications and important avenues for further research are identified.

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Section: Methodology: Data and Estimation Modelmentioning

confidence: 97%

Estimating Spillover Effect from International Oil Market to Stock Market: Evidence from Korean Portfolio-Level Analysis

Choi

2024

Economies

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“…Energy companies increasingly focus on greening their supply chains by adopting sustainable procurement practices. This includes sourcing materials and components from suppliers that adhere to environmental and social standards and reducing the environmental impact of producing energy equipment like solar panels and wind turbines [80][81][82] . Some energy companies invest in carbon offset programs in their sustainable marketing strategies.…”

Section: Literature Reviewmentioning

confidence: 99%

Sustainability marketing strategies for the energy sector: Trends, challenges, and future directions

Durmus Senyapar

2024

Environ. Soc. Psychol.

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This study delves into the complex dynamics of sustainable marketing within the energy sector, aiming to unravel the intersection of sustainability principles and marketing strategies that promote environmental stewardship, economic viability, and social equity. Through exploratory qualitative research, the study uncovers critical trends in sustainable marketing, addressing the challenge of aligning strategies with environmental, economic, and social goals. A strategic shift is observed in integrating renewable energy sources, emphasizing environmental benefits and global alignment with sustainability goals. Transparent communication and ethical practices are pivotal, fostering consumer trust and authentic storytelling and establishing a foundation for a trustworthy energy sector. The emphasis on energy efficiency solutions and digital marketing platforms contribute to an informed and empowered consumer base. Customizable energy solutions, incentive programs, collaborative campaigns, and sustainable branding enhance market appeal, reinforcing economic benefits and positioning companies as leaders in transitioning to a sustainable energy future. The critical findings highlight integrating renewable energy sources, a shift towards transparency and ethical marketing practices, promoting energy efficiency solutions, leveraging digital platforms, offering customizable solutions, and engaging in collaborative campaigns with sustainable branding. Synthesizing these findings, the study provides a holistic perspective on strategies contributing to a resilient and eco-conscious future in the energy sector. Energy companies can leverage these insights to refine marketing strategies, align with global sustainability goals, foster consumer trust, and position themselves as leaders in transitioning to a sustainable energy future.

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“…Shahrestani & Rafei examined the effects of oil price shocks on Tehran Stock Exchange returns using Markov switching VAR models [4]. Xie probed into the spillover ramifications of the international crude oil futures domain on China's burgeoning energy stock market using the VAR methodology [5]. Chen and Hao orchestrated an analysis harnessing the VAR paradigm to fathom the synchronicities between China's crude oil futures valuations and sector-specific stock indices [6].…”

Section: Introductionmentioning

confidence: 99%

Analysis of the return linkages among international crude oil futures, Chinese stock market and US stock market based on VAR model

Dong

2024

Advances in Economics, Business and Management Research

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Crude oil, as a primary global energy resource, plays a pivotal role in influencing global financial landscapes, especially in major economies like China and the US. Despite extensive studies, a comprehensive analysis intertwining the three areas-crude oil prices, the Chinese stock market, and the US stock market-using the Vector Autoregression (VAR) model is lacking. This study bridges that gap, examining the interactions among international crude oil futures returns, the Shanghai Composite Index and the S&P 500 Index using 2,954 data sets from January 2011 to August 2023. Findings reveal a strong interconnection with crude oil futures significantly impacting both stock markets. Following disturbances, all markets revert to baseline states, with positive crude oil futures briefly boosting stock markets. However, stock market growth may precede a fall in crude oil futures. Although quantitative, the study's model may not fully align with real-world economic dynamics and carries potential overfitting risks due to its extensive lag order.

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The spillover effect between Chinese crude oil futures market and Chinese green energy stock market

Cited by 51 publications

References 51 publications

Estimating Spillover Effect from International Oil Market to Stock Market: Evidence from Korean Portfolio-Level Analysis

Estimating Spillover Effect from International Oil Market to Stock Market: Evidence from Korean Portfolio-Level Analysis

Sustainability marketing strategies for the energy sector: Trends, challenges, and future directions

Analysis of the return linkages among international crude oil futures, Chinese stock market and US stock market based on VAR model

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