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

IF 3.5 3区社会学 Q2 ENVIRONMENTAL STUDIES

International Journal of Climate Change Strategies and Management Pub Date : 2023-01-02 DOI:10.1108/ijccsm-10-2021-0124

Jungsik Noh, Heejin Park

引用次数: 1

Abstract

Purpose This study aims to explore empirical evidence of the impact of greenhouse gas (GHG) emissions on stock market volatility. Design/methodology/approach Using 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. Findings The 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/value This study contributes to the literature in that it provides additional empirical evidence for the financial risk posed by climate change.

查看原文本刊更多论文

温室气体排放与股市波动:经合组织国家的实证分析

目的本研究旨在探索温室气体排放对股市波动影响的实证证据。设计/方法/方法利用1992年至2018年35个经济合作与发展组织国家的面板数据，我们进行了具有面板校正标准误差的固定效应面板模型和Prais-Winsten模型。研究结果作者记录了温室气体排放与股市波动之间存在显著的正相关关系。在控制了潜在的内生性问题后，结果仍然稳健。独创性/价值这项研究为文献提供了额外的经验证据，证明气候变化带来的金融风险。

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

International Journal of Climate Change Strategies and Management ENVIRONMENTAL STUDIES-

CiteScore

8.10

自引率

8.30%

发文量

审稿时长

15 weeks

期刊介绍： Effective from volume 10 (2018), International Journal of Climate Change Strategies and Management is an open access journal. In the history of science there have been only a few issues which have mobilized the attention of scientists and policy-makers alike as the issue of climate change currently does. International Journal of Climate Change Strategies and Management is an international forum that addresses the need for disseminating scholarly research, projects and other initiatives aimed to facilitate a better understanding of the subject matter of climate change. The journal publishes papers dealing with policy-making on climate change, and methodological approaches to cope with the problems deriving from climate change. It disseminates experiences from projects and case studies where due consideration to environmental, economic, social and political aspects is given and especially the links and leverages that can be attained by this holistic approach. It regards climate change under the perspective of its wider implications: for economic growth, water and food security, and for people''s survival – especially those living in the poorest communities in developing countries.