Navigating the complexities of GCC real state markets: An analysis of interlinkages amidst shocks and oil effects

IF 2.9 3区经济学 Q2 BUSINESS, FINANCE

Journal of Multinational Financial Management Pub Date : 2024-04-26 DOI:10.1016/j.mulfin.2024.100859

Alanoud Hamad Fetais, Ahmet Faruk Aysan, Ruslan Nagayev

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引用次数: 0

Abstract

The study investigates the interconnectedness of GCC real estate markets using wavelet coherence analysis of daily data from 2013 to 2023 and analyzes the impact of various external shocks (political, economic, regulatory, and pandemic) and oil dependence on these dynamics. Despite shared cultural ties and energy intensity, findings reveal primarily weak to moderate linkages, with increased coherence observed during significant events. These linkages exhibit temporal variability, characterized by short-term spikes, loose medium-term correlations, and evolving long-term relationships. Isolating the effect of oil prices yielded limited impact, suggesting the influence of country-specific factors. This research offers valuable insights for policymakers, investors, and stakeholders, aiding informed decision-making during sensitive periods and fostering a deeper understanding of international finance and investments.

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驾驭海湾合作委员会房地产市场的复杂性：冲击和石油效应下的相互联系分析

本研究利用 2013 年至 2023 年每日数据的小波相干性分析，研究了海湾合作委员会房地产市场的相互关联性，并分析了各种外部冲击（政治、经济、监管和流行病）和石油依赖性对这些动态的影响。尽管存在共同的文化纽带和能源密集度，但研究结果表明它们之间的联系主要是微弱到中等程度，在重大事件发生时一致性会增强。这些联系表现出时间上的可变性，其特点是短期峰值、松散的中期相关性和不断发展的长期关系。将石油价格的影响隔离开来的结果影响有限，这表明存在国别因素的影响。这项研究为政策制定者、投资者和利益相关者提供了宝贵的见解，有助于在敏感时期做出明智的决策，并加深对国际金融和投资的理解。

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来源期刊

Journal of Multinational Financial Management BUSINESS, FINANCE-

CiteScore

7.30

自引率

4.80%

发文量

审稿时长

30 days

期刊介绍： International trade, financing and investments have grown at an extremely rapid pace in recent years, and the operations of corporations have become increasingly multinationalized. Corporate executives buying and selling goods and services, and making financing and investment decisions across national boundaries, have developed policies and procedures for managing cash flows denominated in foreign currencies. These policies and procedures, and the related managerial actions of executives, change as new relevant information becomes available. The purpose of the Journal of Multinational Financial Management is to publish rigorous, original articles dealing with the management of the multinational enterprise. Theoretical, conceptual, and empirical papers providing meaningful insights into the subject areas will be considered. The following topic areas, although not exhaustive, are representative of the coverage in this Journal. • Foreign exchange risk management • International capital budgeting • Forecasting exchange rates • Foreign direct investment • Hedging strategies • Cost of capital • Managing transaction exposure • Political risk assessment • International working capital management • International financial planning • International tax management • International diversification • Transfer pricing strategies • International liability management • International mergers.