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地缘政治风险和气候变化库存
Sercan Demiralay1, Yan Wang1, Conghui Chen1
1Department of Accounting and Finance, Nottingham Business School, Nottingham Trent University, Nottingham, UK.
Journal of environmental management
|January 6, 2024
概括
地缘政治风险 (GPR) 不对称地影响气候库存回报率和波动性. 市场状况和地缘政治事件,如俄罗斯-乌克兰战争,对区域气候投资的影响有很大影响.
科学领域:
- 环境金融 环境金融
- 地缘政治风险分析分析
- 气候变化经济学 气候变化经济学
背景情况:
- 气候变化股票是越来越重要的投资工具.
- 地缘政治事件给金融市场带来了巨大的不确定性.
- 了解地缘政治风险和气候投资之间的相互作用至关重要.
研究的目的:
- 调查地缘政治风险 (GPR),地缘政治威胁 (GPT) 和地缘政治行为 (GPA) 对气候变化股票回报和波动的影响.
- 分析这些影响在不同的市场条件和地理区域.
- 为金融市场参与者和决策者提供见解.
主要方法:
- 使用定量回归来分析GPR,GPT和GPA的不对称和异质效应.
- 研究了区域气候变化库存的回报率和波动性.
- 考虑了不同的市场状况,包括看和看跌状态.
主要成果:
- 气候库存回报显示,在看市场对GPR的回应是积极的,在看市场的回应是负面的,因地区而异.
- 地缘政治紧张局势通常会增加股票波动,地缘政治行为的影响比威胁更大.
- 在俄罗斯-乌克兰战争期间,GPR加剧了波动,突出了不确定性的增加.
结论:
- 地缘政治风险对气候变化库存产生不对称和异质的影响.
- 金融市场参与者和政策制定者需要考虑这些复杂的动态.
- 这些发现强调了气候投资对全球地缘政治不稳定的脆弱性.
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