Exploring the Interrelationship Between Energy, Geopolitical Risk, and Bitcoin Based Green Business Strategies

IF 12.5 1区管理学 Q1 BUSINESS

Business Strategy and The Environment Pub Date : 2025-05-01 DOI:10.1002/bse.4290

Pooja Kumari, Amit Shankar, Rsha Alghafes, Laura Broccardo, Steven T. Walsh

{"title":"Exploring the Interrelationship Between Energy, Geopolitical Risk, and Bitcoin Based Green Business Strategies","authors":"Pooja Kumari, Amit Shankar, Rsha Alghafes, Laura Broccardo, Steven T. Walsh","doi":"10.1002/bse.4290","DOIUrl":null,"url":null,"abstract":"This study examined how Bitcoin, energy prices, and geopolitical risk interact by examining the first four moments (mean, variance, skewness, and kurtosis) of their return distributions by using wavelet analysis. The findings reveal that the co‐movement patterns of energy index, geopolitical risk index, and Bitcoin prices are time and frequency sensitive. During the turbulent period of 2020–2024, significant cross effect was observed at medium‐ and long‐term time scales in the relationship between the energy index and the geopolitical risk index. Similarly, in the case of Bitcoin and the geopolitical risk index, significant cross‐effects were detected at medium‐ and short‐term time scales. From 2021 onwards, a strong coherence is observed at high and medium frequencies for all four moment pairs among Bitcoin, energy prices, and geopolitical risk. In terms of the Bitcoin‐energy relationship, significant co‐movement in mean and volatility is noted throughout most of the sample period and across different frequency bands. Moreover, cross‐skewness and cross‐kurtosis connections are more prominent at short‐ and medium‐term horizons, especially during covid pandemic. These insights are valuable for investors and policymakers in risk management.","PeriodicalId":9518,"journal":{"name":"Business Strategy and The Environment","volume":"111 1","pages":""},"PeriodicalIF":12.5000,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Business Strategy and The Environment","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1002/bse.4290","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}

引用次数: 0

Abstract

This study examined how Bitcoin, energy prices, and geopolitical risk interact by examining the first four moments (mean, variance, skewness, and kurtosis) of their return distributions by using wavelet analysis. The findings reveal that the co‐movement patterns of energy index, geopolitical risk index, and Bitcoin prices are time and frequency sensitive. During the turbulent period of 2020–2024, significant cross effect was observed at medium‐ and long‐term time scales in the relationship between the energy index and the geopolitical risk index. Similarly, in the case of Bitcoin and the geopolitical risk index, significant cross‐effects were detected at medium‐ and short‐term time scales. From 2021 onwards, a strong coherence is observed at high and medium frequencies for all four moment pairs among Bitcoin, energy prices, and geopolitical risk. In terms of the Bitcoin‐energy relationship, significant co‐movement in mean and volatility is noted throughout most of the sample period and across different frequency bands. Moreover, cross‐skewness and cross‐kurtosis connections are more prominent at short‐ and medium‐term horizons, especially during covid pandemic. These insights are valuable for investors and policymakers in risk management.

查看原文本刊更多论文

探讨能源、地缘政治风险和基于比特币的绿色商业战略之间的相互关系

本研究通过使用小波分析检查比特币，能源价格和地缘政治风险的收益分布的前四个时刻（均值，方差，偏度和峰度），研究了比特币，能源价格和地缘政治风险如何相互作用。研究结果表明，能源指数、地缘政治风险指数和比特币价格的共同运动模式是时间和频率敏感的。在动荡的2020-2024年，能源指数与地缘政治风险指数在中长期尺度上存在显著的交叉效应。同样，在比特币和地缘政治风险指数的情况下，在中期和短期时间尺度上发现了显著的交叉效应。从2021年起，在比特币、能源价格和地缘政治风险之间的所有四个时刻对的高频和中频上都观察到很强的一致性。就比特币与能量的关系而言，在大多数样本周期和不同频带中，都注意到均值和波动率的显著共同运动。此外，交叉偏度和交叉峰度联系在短期和中期更为突出，特别是在covid大流行期间。这些见解对风险管理方面的投资者和政策制定者很有价值。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Business Strategy and The Environment Multiple-

CiteScore

22.50

自引率

19.40%

发文量

336

期刊介绍： Business Strategy and the Environment (BSE) is a leading academic journal focused on business strategies for improving the natural environment. It publishes peer-reviewed research on various topics such as systems and standards, environmental performance, disclosure, eco-innovation, corporate environmental management tools, organizations and management, supply chains, circular economy, governance, green finance, industry sectors, and responses to climate change and other contemporary environmental issues. The journal aims to provide original contributions that enhance the understanding of sustainability in business. Its target audience includes academics, practitioners, business managers, and consultants. However, BSE does not accept papers on corporate social responsibility (CSR), as this topic is covered by its sibling journal Corporate Social Responsibility and Environmental Management. The journal is indexed in several databases and collections such as ABI/INFORM Collection, Agricultural & Environmental Science Database, BIOBASE, Emerald Management Reviews, GeoArchive, Environment Index, GEOBASE, INSPEC, Technology Collection, and Web of Science.