Greenhouse gas emissions and stock market volatility: an empirical analysis of OECD countries

被引：5

作者：

Noh, Jung Hee ^{[1
]}

Park, Heejin ^{[2
]}

机构：

[1] Natl Pens Res Inst, Dept Investment Policy, Jeonju, South Korea

[2] Pusan Natl Univ, Sch Business, Pusan, South Korea

来源：

INTERNATIONAL JOURNAL OF CLIMATE CHANGE STRATEGIES AND MANAGEMENT | 2023年

关键词：

OECD; Greenhouse gas; Climate change; Stock market volatility; F64; G10; Q54; CARBON-DIOXIDE EMISSIONS; FEED-IN TARIFF; INDUSTRIAL-STRUCTURE; INVESTOR SENTIMENT; PROSPECT-THEORY; HEAT-STRESS; UNCERTAINTY; POLICY; PRICE; DEFORESTATION;

D O I：

10.1108/IJCCSM-10-2021-0124

中图分类号：

X [环境科学、安全科学];

学科分类号：

08 ; 0830 ;

摘要：

PurposeThis study aims to explore empirical evidence of the impact of greenhouse gas (GHG) emissions on stock market volatility. Design/methodology/approachUsing panel data of 35 Organization for Economic Co-operation and Development countries from 1992 to 2018, we conduct both fixed effects panel model and Prais-Winsten model with panel-corrected standard errors. FindingsThe authors document that there is a significant positive relationship between GHG emissions and stock market volatility. The results remain robust after controlling for potential endogeneity problems. Originality/valueThis study contributes to the literature in that it provides additional empirical evidence for the financial risk posed by climate change.

引用

页码：58 / 80

页数：23

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