Geopolitical risks and climate change stocks.
J Environ Manage
; 352: 119995, 2024 Feb 14.
Article
em En
| MEDLINE
| ID: mdl-38183918
ABSTRACT
This paper aims to examine the impact of geopolitical risk (GPR), threats (GPT) and acts (GPA) on returns and volatilities of regional climate change stocks under different market conditions, employing quantile regressions. Our main results suggest that climate change stock returns positively (negatively) respond to GPR in bullish (bearish) market states, however the effect is not uniform across the regions. The volatilities mainly show a positive response to geopolitical tensions; geopolitical acts appear to have a more pronounced impact on volatilities than geopolitical threats. We further find that GPR leads to higher volatility during the Russia-Ukraine war, creating heightened uncertainty. Overall, the results reveal that geopolitical risks have an asymmetric and heterogenous impact on climate change stocks. The results provide significant insights and implications for financial market participants and policy makers.
Palavras-chave
Texto completo:
1
Coleções:
01-internacional
Base de dados:
MEDLINE
Assunto principal:
Mudança Climática
Tipo de estudo:
Etiology_studies
/
Risk_factors_studies
Limite:
Humans
País/Região como assunto:
Asia
/
Europa
Idioma:
En
Revista:
J Environ Manage
Ano de publicação:
2024
Tipo de documento:
Article
País de afiliação:
Reino Unido
País de publicação:
Reino Unido