研究石油价格与股票回报率之间的关系：经合组织国家的证据

Q1 Economics, Econometrics and Finance

International Journal of Energy Economics and Policy Pub Date : 2024-05-08 DOI:10.32479/ijeep.15913

Havane Tembelo, Mustafa Ozyesil

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引用次数: 0

摘要

本研究使用经合组织国家的数据来调查股票回报率与石油价格之间的关系。研究使用每日收盘值进行分析，时间跨度为 2000 - 2022 年。通过面板数据分析，将石油价格作为自变量，股票回报率作为因变量。分析包括 GDP 和通货膨胀等中间因素。研究首先进行单位根检验，然后进行面板协整检验。最后，对面板因果检验和面板回归结果进行解释。本研究的主要目的是探讨石油价格波动对股票回报率的影响。结果表明，股票收益率与石油价格之间在统计上存在显著的正相关关系。这些研究结果凸显了石油价格作为金融市场股票回报率决定因素的重要性，并为投资者、金融机构和政策制定者提供了宝贵的启示。

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Examining the Relationship between Oil Prices and Stock Returns: Evidence from OECD Countries

This study uses data from the OECD countries to investigate the relationship between stock returns and oil prices. The study uses daily closing values for analysis and covers the years 2000 - 2022. Oil prices are taken as the independent variable and stock returns as the dependent variable using the panel data analysis. The analysis includes intermediary factors as GDP and inflation. The research begins with a unit root test, followed by a panel co-integration test. Finally, the panel causality test and panel regression results are interpreted. This study primarily aims to explore the effect of oil price volatility on stock returns. Results show a statistically significant positive association between stock returns and oil prices. These findings highlight the importance of oil prices as a determinant of stock returns in the financial markets and provide investors, financial institutions and policymakers valuable insights.

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来源期刊

International Journal of Energy Economics and Policy Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

3.20

自引率

0.00%

发文量

296

审稿时长

14 weeks

期刊介绍： International Journal of Energy Economics and Policy (IJEEP) is the international academic journal, and is a double-blind, peer-reviewed academic journal publishing high quality conceptual and measure development articles in the areas of energy economics, energy policy and related disciplines. The journal has a worldwide audience. The journal''s goal is to stimulate the development of energy economics, energy policy and related disciplines theory worldwide by publishing interesting articles in a highly readable format. The journal is published bimonthly (6 issues per year) and covers a wide variety of topics including (but not limited to): Energy Consumption, Electricity Consumption, Economic Growth - Energy, Energy Policy, Energy Planning, Energy Forecasting, Energy Pricing, Energy Politics, Energy Financing, Energy Efficiency, Energy Modelling, Energy Use, Energy - Environment, Energy Systems, Renewable Energy, Energy Sources, Environmental Economics, Oil & Gas .