Lack of investment in financial markets is one of the enduring puzzles in empirical finance. Although recent studies ascribe the lack of investment in stocks to financial literacy, the association between financial literacy and investment in financia...
This review organizes the current state of knowledge on the role of financial markets in energy transition. The originality of the study lies in the delimitation of its scope and diagnosis of research trends concerning the role of financing, innovati...
Financial innovation and institutional quality play a key role in financial development. This study investigates the impact of financial innovation and institutional quality on financial development in an emerging markets setting. We used the sample...
We propose here a method to analyze whether financial and macroeconomic shocks influence the entropy of financial networks. We derive a measure of entropy using the correlation matrix of the stock market components of the DOW Jones Industrial Average...
In this paper, I propose a methodology to study the comovement between the entropy of different financial markets. The entropy is derived using singular value decomposition of the components of stock market indices in financial markets from selected...
This study comprehensively analyzes the relationship between migration and financial markets. We examine existing research on this subject using a scientometric and bibliometric approach. By employing VOSviewer and Bibliometrix tools, we introduce a...
This paper leverages turbulence theory from physics to examine the similarities and differences between financial market volatility and turbulent phenomena on a statistical physics level. By drawing analogies between the dynamics of financial markets...
Using a unique multi-wave dataset from nationally representative surveys in Portugal (2015, 2020, and 2023), this study extends the household finance literature by examining the mechanisms linking financial literacy to capital market participation. W...
This article explores the impact of financial market regulation on jobs. It argues that understanding the impact of finance on labor markets is key to an understanding of the trade-off between economic stability and financial sector growth. The artic...
Policy incentives and technological advancements are driving the rapid expansion of renewable energy industries. However, as speculative investment intensifies, concerns about the potential formation of financial bubbles are growing. This paper exami...
Using a unique database, this paper examines the interconnection among stress indicators of the Spanish financial markets during the period of January 1999 to April 2021, applying both the connectedness framework and the Time-Varying Parameter Vector...
The results of the single-equation cointegration tests indicate that patterns of cointegration in the two main and four sub-periods are not homogeneous. Two key findings emerge from the study. First, fewer stock markets cointegrated with S&P 500...
In this research, we examine how the quality of institutions promotes financial market development (FMD) in 21 emerging markets (classified by the Financial Times Stock Exchange Group). The moderating role of culture is also empirically tested. For t...
We employ wavelet analysis using the maximum overlap discrete wavelet transform (MODWT) to examine the return and volatility interconnectedness between the German equity market (a prominent representative of the Eurozone market) and the BRICS countri...
The UK’s withdrawal from the EU will have far-reaching consequences on the European economy. However, the ultimate consequences of Brexit, especially for financial markets, depend on the final agreement, which is still under negotiation. Curren...
The discovery and sudden spread of the novel coronavirus (COVID-19) exposed individuals to a great uncertainty about the potential health and economic ramifications of the virus, which triggered a surge in demand for information about COVID-19. To un...
This paper applies long-memory techniques (both parametric and semi-parametric) to examine whether Brexit has led to any significant changes in the degree of persistence of the FTSE (Financial Times Stock Index) 100 Implied Volatility Index (IVI) and...
As crypto assets become more widely adopted, crypto asset markets and traditional financial markets may become increasingly interconnected. The close linkages between these markets have potentially important implications for price formation, contagio...
As global financial markets become highly dependent on each other, risk contagion among stock markets is a primary feature of progressing globalization, which poses uncertainties for government agencies. The deficiency of previous studies is that it...
It has become a hot issue to integrate the carbon market, energy market, and financial market into one system and explore the relationship among them. Considering that the carbon market, energy market, and financial market all have chaotic characteri...
With the growing financialization of energy markets, financial and energy security have become critical global concerns. This study overcomes the limitations of traditional methods in analyzing extreme events by adopting a conditional quantile spillo...
Financial bubble prediction has been a significant area of interest in empirical finance, garnering substantial attention in the literature. This study aims to detect and forecast financial bubbles in the Vietnamese stock market from 2001 to 2021. Th...
The greening of financial markets can effectively guide the flow of capital to green and environmental industries, prompt the upgrading and transformation of the green industry, and help China achieve its dual carbon goals. This paper adopts China&rs...
The main purpose of the paper is to analyze the conditional correlations, conditional covariances, and co-volatility spillovers between international crude oil and associated financial markets. The prices of oil and its interactions with financial ma...
The global financial crisis in 2008 spurred the need to study systemic risk in financial markets, which is of interest to both academics and practitioners alike. We first aimed to measure and forecast systemic risk in global financial markets and the...
Countries are confronting climate change using climate-related regulations that require firms and investors to disclose their green strategies and activities. Using the Meta-Analysis Structural Equation Modeling (MASEM) technique, this study evaluate...
In this study, we carry out a comparative analysis between the US and South Korea, with a special attention to three key areas, including the stock market, the currency market, and the bond market. By employing a composite model, VAR-GARCH-BEKK, we w...
This study assesses contagion from the USA subprime financial crisis on a large set of frontier stock markets. Copula models were used to investigate the structure of dependence between frontier markets and the USA, before and after the occurrence of...
We consider a spread financial market defined by the multidimensional Ornstein–Uhlenbeck (OU) process. We study the optimal consumption/investment problem for logarithmic utility functions using a stochastic dynamical programming method. We sho...
This study investigates dynamic risk spillover effects between renewable energy markets and Chinese green financial markets from a time-frequency perspective by utilizing weekly data from two types of markets with a span from January 2010 to August 2...
Exploring the factors and mechanisms influencing farmers’ participation behavior in formal financial markets is of great significance for improving the rural financial service system and comprehensively promoting the development of rural inclus...
This research analyzes the BOVESPA stock market response to the worst drought occurred in the last 100 years in Brazil. For this purpose, we conducted a standard event study analysis in order to assess the financial response to such hydrological risk...
The recent outbreak of the coronavirus pandemic has made a significant impact on the global financial markets. The aim of this paper is to assess the short-term reaction of the Visegrad countries’ financial markets to the COVID-19 pandemic. The...
This review paper thoroughly examines the role of technical analysis in energy and financial markets with a primary focus on its application, effectiveness, and comparative analysis with fundamental analysis. The discussion encompasses fundamental pr...
Financial development has been considered an efficient and effective mechanism for the sustainable economic growth and development of emerging markets in past decades. However, various concerns have emerged in relation to the influences of financial...
The spread of the global financial crisis of 2008/2009 was rapid, and impacted the functioning and the performance of financial markets. Due to the importance of this phenomenon, this study aims to explain the impact of the crisis on stock market beh...
Fluctuations in oil prices substantially impact both the real economy and international financial markets. Despite extensive studies on oil market dynamics and overnight momentum, a comprehensive understanding of the link between oil price changes an...
Uncovering dynamic information flow between stock market indices has been the topic of several studies which exploited the notion of transfer entropy or Granger causality, its linear version. The output of the transfer entropy approach is a directed...
This paper explores how financial markets can support the practical applicability of Sustainability Development Goals (SDGs) principles and why ethics has a central role in this process. The efficient market hypothesis holds that a financial market i...
Information about the possibilities of changes in national and international macroeconomic variables affects the expectations and behavior of individuals and firms more quickly than real changes in those macroeconomic variables. In this research, we...
The purpose of this paper is to identify econometric models likely to highlight the impact of the COVID-19 pandemic on the financial markets. The Markov-switching “GARCH and EGARCH” models are suitable for analyzing and forecasting the se...
We introduce a new identification strategy for uncertainty shocks to explain macroeconomic volatility in financial markets. The Chicago Board Options Exchange Volatility Index (VIX) measures the market expectations of future volatility, but tradition...
This paper investigates the impact of recent financial crisis on six major stock markets during the three periods. To measure the impact of the crisis on different stock markets, we have applied a vector auto-regression (VAR) model and conducted Gran...
In the present paper, we investigate the financial homogeneity of the euro area economies by contrasting eurozone countries’ responses to monetary policy steps to the theoretical assumptions of the liquidity trap phenomenon. Our assumption is t...
In this study, we analyzed structural changes in financial markets under COVID-19 to support investors’ investment decisions. Because an explanation of these changes is necessary to respond appropriately to said changes and prepare for similar...
Numerous stakeholders concur that tackling the climate change effect requires massive financial mobilization from the public and private sectors to reduce the climate financing gap. Capital markets are among the key players fostering this mobilizatio...
This study uses daily COVID-19 news series to determine their impact on financial market volatility. This paper assesses whether U.S. financial markets react differently to COVID-19 news than emerging markets and if such markets are impacted differen...
This study employs the TVP-VAR-DY model to examine the risk spillover effects and dynamic interactions between traditional energy markets and green financial markets across both time and frequency domains. Furthermore, it evaluates the influence of c...
Exchange traded funds (ETFs) are financial innovations that may be considered as a part of the index financial instruments category, together with stock index derivatives. The aim of this paper is to explore the trajectories and formulates prediction...
This paper studies the presence of the day-of-the-week (DOW) effect in the financial contagion process observed on individual economic sectors from the Post-Communist East European markets. The only markets that provide national-specific sector indic...
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