In the Era of 4th Industrial Revolution- Are Technology-Based Assets and Green Equity Index Safe Investments with Developed and Emerging Market Index?

IF 2.5 Q2 ECONOMICS
Sudhi Sharma, Miklesh Prasad Yadav, Indira Bharadwaj, Reepu
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Abstract

The paper is an extended contribution to the ongoing debate on cryptocurrency as a hedging instrument while investing in developed and emerging markets. At the edge of the 4th industrial revolution, the paper identifies diversification opportunities with technologically based assets and non-conventional assets like Cryptocurrency (BITW), Fintech (FINX), and Green Equity Index (QGREEN) with the Developed market (MSCI World Index) and Emerging market (MSCI Emerging Markets Index). The study is rigorous in methodology, including Granger Causality, Symmetrical and Asymmetrical Dynamic Conditional Correlation models, Diebold Yilmaz Spillover Index, and Network analysis. The study used robust statistical models like Granger Causality, Symmetrical, and Asymmetrical Dynamic Conditional Correlation models, Diebold Yilmaz Spillover Index, and Network analysis for a more accurate assessment of the investment alternatives. The results of the study aim to assist passive portfolio managers in investing in developed and emerging indices and looking for non-conventional investment options. The study assumes relevance for policymakers, as it deciphers the relevance of the cryptocurrency market vis-a-vis other emerging assets.

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第四次工业革命时代--技术型资产和绿色股票指数与发达市场和新兴市场指数相比是安全的投资吗?
本文是对正在进行的关于加密货币作为对冲工具,同时投资于发达市场和新兴市场的讨论的延伸性贡献。在第四次工业革命的浪潮中,本文通过加密货币(BITW)、金融科技(FINX)和绿色股票指数(QGREEN)等技术型资产和非常规资产,以及发达市场(MSCI 全球指数)和新兴市场(MSCI 新兴市场指数),发现了多样化投资的机会。研究方法严谨,包括格兰杰因果关系、对称和非对称动态条件相关模型、迪博尔德-伊尔马兹溢出指数和网络分析。研究采用了格兰杰因果关系、对称和非对称动态条件相关模型、迪波尔德-伊尔马兹溢出指数和网络分析等稳健的统计模型,以便对投资备选方案进行更准确的评估。研究结果旨在帮助被动投资组合经理投资于发达指数和新兴指数,并寻找非常规投资选择。这项研究对政策制定者具有重要意义,因为它揭示了加密货币市场与其他新兴资产的相关性。
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来源期刊
CiteScore
3.00
自引率
0.00%
发文量
34
期刊介绍: The current remarkable growth in the Asia-Pacific financial markets is certain to continue. These markets are expected to play a further important role in the world capital markets for investment and risk management. In accordance with this development, Asia-Pacific Financial Markets (formerly Financial Engineering and the Japanese Markets), the official journal of the Japanese Association of Financial Econometrics and Engineering (JAFEE), is expected to provide an international forum for researchers and practitioners in academia, industry, and government, who engage in empirical and/or theoretical research into the financial markets. We invite submission of quality papers on all aspects of finance and financial engineering. Here we interpret the term ''financial engineering'' broadly enough to cover such topics as financial time series, portfolio analysis, global asset allocation, trading strategy for investment, optimization methods, macro monetary economic analysis and pricing models for various financial assets including derivatives We stress that purely theoretical papers, as well as empirical studies that use Asia-Pacific market data, are welcome. Officially cited as: Asia-Pac Financ Markets
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