Applications in energy finance : the energy sector, economic activity, financial markets and the environment / / edited by Christos Floros and Ioannis Chatziantoniou

• Pubblicazione: Cham, Switzerland : , : Springer, , [2022]; ©2022
• Descrizione fisica: 1 online resource (293 pages)
• Disciplina: 333.79
• Soggetto topico: Energy industries; Energy policy
• Persona (resp. second.): ChatziantoniouIoannis; FlorosC
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Intro -- Preface -- Contents -- List of Figures -- List of Tables -- Part IIntroductory Chapter on Energy Finance -- 1 Review of the Development of Energy Finance -- 1.1 Introduction -- 1.2 Energy Financialization -- 1.2.1 Conceptual Issues -- 1.2.2 Energy-Stock Market Relationship -- 1.2.3 Price Determination with Financialization -- 1.2.4 Energy Risk Management -- 1.2.5 Is Financialization Temporary or Permanent? -- 1.3 Corporate Finance in the Energy Sector -- 1.3.1 Why Are Energy Firms Special? -- 1.3.2 Investment Decisions by Energy Firms -- 1.3.3 Financing Decisions by Energy Firms -- 1.3.4 Governance in the Energy Sector -- 1.4 Green Finance and Investment -- 1.4.1 Green Finance or Climate Finance -- 1.4.2 Financing the Energy Transition -- 1.4.3 Investment in the Energy Transition -- 1.5 Summary and Looking Forward -- References -- Part IIEnergy, Economic Activity and Financial Markets -- 2 What Do We Know About the Oil Price-Exchange Rate Link?-The Role of Time-Variation and Supply/Demand Dynamics -- 2.1 Introduction -- 2.2 Literature Review -- 2.3 Data -- 2.4 Empirical Framework and Findings -- 2.4.1 Framework for Analyzing Long-Run Relationships -- 2.4.2 Preliminary Diagnosis and Tests for Cointegration -- 2.4.3 Long-Run Relationships -- 2.4.4 Recursive Estimations -- 2.5 Time-Varying Forecasting Ability -- 2.5.1 Time-Varying Forecasting Ability of Exchange Rates for Oil Prices -- 2.5.2 Time-Varying Forecasting Ability of Oil Prices for Exchange Rates -- 2.5.3 Link Between in-Sample and Out-of-Sample Analysis -- 2.6 Conclusion -- References -- 3 Crude Oil Prices, Exchange Rates, Stock Markets and Industrial Production Relationships in Emerging Markets -- 3.1 Introduction -- 3.2 Literature Review -- 3.2.1 Stock Market and Exchange Rate Relationship -- 3.2.2 Stock Market and Industrial Production, Economic Activity Relationship. ; 3.2.3 Oil Price and Stock Market Relationship -- 3.2.4 Oil Prices, Stock Market, and Economic Activity -- 3.3 Data -- 3.4 Methodology and Results -- 3.4.1 Toda Yamamoto Procedure -- 3.4.2 Unit Root Tests -- 3.4.3 VAR Stability Detection -- 3.4.4 Wald Test Results -- 3.4.5 Generalized Impulse Response Results -- 3.4.6 Robustness Checks -- 3.5 Conclusion -- References -- 4 How Do Energy Market Shocks Affect Economic Activity in the US Under Changing Financial Conditions? -- 4.1 Introduction -- 4.2 Review of Related Literature -- 4.3 Data and Methodology -- 4.3.1 Data -- 4.3.2 Model Specification -- 4.4 Empirical Results -- 4.4.1 Estimate of Economic Uncertainty -- 4.4.2 Impact of Overall Economic Volatility Shocks on the US Economy -- 4.4.3 Impact of Oil Supply and Oil Demand Shocks on the US Economy -- 4.4.4 Sign and Regime Asymmetry -- 4.5 Conclusions -- References -- 5 Tracing the Sources of Contagion in the Oil-Finance Nexus -- 5.1 Introduction -- 5.2 Methods and Data -- 5.2.1 Identifying Discrete Oil Market Conditions -- 5.2.2 Estimating Oil-Finance Dynamic Correlations -- 5.2.3 Comparing Dynamic Correlations by Oil Market Conditions -- 5.3 Application to the International Crude Oil Market and a Small Oil-Exporter -- 5.3.1 Discrete Calm and Extreme Oil Market Conditions -- 5.3.2 Performance of Returns Under Alternative Oil Market Conditions -- 5.3.3 Oil-Finance Time-Varying Correlations Under Alternative Oil Market Conditions -- 5.4 Conclusion -- References -- 6 Volatility Contagion Between Crude Oil and G7 Stock Markets in the Light of Trade Wars and COVID-19: A TVP-VAR Extended Joint Connectedness Approach -- 6.1 Introduction -- 6.2 Data -- 6.3 Methodology -- 6.3.1 TVP-VAR Based Connectedness Approach -- 6.3.2 TVP-VAR Based Extended Joint Connectedness Approach -- 6.4 Results and Discussion -- 6.4.1 Average Connectedness Results. ; 6.4.2 Total Dynamic Connectedness -- 6.4.3 Net Total Directional Connectedness -- 6.4.4 Net Pairwise Dynamic Connectedness -- 6.5 Conclusion -- References -- Part IIIEnergy, Climate Change and the Environment -- 7 The Impact of Market Uncertainty on the Systematic Risk of Clean Energy Stocks -- 7.1 Introduction -- 7.2 Background Literature -- 7.3 Methods -- 7.4 Data -- 7.5 Results -- 7.6 Conclusions and Implications -- References -- 8 Climate-Finance -- 8.1 Introduction -- 8.2 Theoretical Framework -- 8.2.1 Environmental-Climate Policy -- 8.3 Data and Methods -- 8.3.1 Sample -- 8.3.2 Variables -- 8.3.3 Panel Data Model -- 8.3.4 Descriptive Statistics -- 8.4 Results -- 8.4.1 Main Results -- 8.4.2 Robustness Tests -- 8.4.3 Endogeneity Test -- 8.5 Conclusion -- Appendix: Stata Codes -- References -- 9 Minimum Connectedness Portfolios and the Market for Green Bonds: Advocating Socially Responsible Investment (SRI) Activity -- 9.1 Introduction -- 9.2 Literature on Green Bonds -- 9.2.1 Green Bond Policy and Regulatory Framework Development -- 9.2.2 Green Bonds and Financial Markets -- 9.2.3 Green Bonds and Corporate Social Responsibility -- 9.3 Data -- 9.4 Empirical Framework -- 9.4.1 Modelling Time-Varying Connectedness Using a TVP-VAR -- 9.4.2 Portfolio Back Testing -- 9.5 Empirical Findings and Discussion -- 9.5.1 Total Connectedness (TCI) -- 9.5.2 Net Total Directional Connectedness -- 9.5.3 Net Pairwise Total Connectedness -- 9.5.4 Dynamic Portfolios -- 9.6 Conclusion -- References -- 10 Are Policy Stances Consistent with the Global GHG Emission Persistence? -- 10.1 Introduction -- 10.2 Data and Methodology -- 10.3 Empirical Results and Interpretation -- 10.4 Conclusion -- References -- Index.
• Titolo autorizzato: Applications in Energy Finance
• ISBN: 3-030-92957-4
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910568281903321
• Lo trovi qui: Univ. Federico II