Journal article
Effect of Climate Changes, Induced Risks, and Oil Price Appreciation on Energy Stock Returns in World Markets
International studies of economics, v 20(4), pp 390-409
Dec 2025
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
This study examines the impact of climate policy uncertainty (CPU) on world energy stock returns. Evidence shows that a rise in CPU causes stocks to plummet in individual countries, regions, and the world energy stock markets. The negative effects are also exhibited in climate induced risks, the covariance between a change in CPU and equity market volatility (EMV) as well as the covariance between energy and environmental uncertainty and EMV on stock returns. Evidence shows the presence of negative relationships between oil prices and stock returns, except in Gulf Cooperation Council region and Kuwait, which are oil-exporting markets.
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Details
- Title
- Effect of Climate Changes, Induced Risks, and Oil Price Appreciation on Energy Stock Returns in World Markets
- Creators
- Thomas C. Chiang - Drexel University, Finance
- Publication Details
- International studies of economics, v 20(4), pp 390-409
- Publisher
- Wiley
- Number of pages
- 20
- Grant note
- The author received no specific funding for this work.
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- [Retired Faculty]; Finance
- Web of Science ID
- WOS:001472521400001
- Scopus ID
- 2-s2.0-105005290685
- Other Identifier
- 991022050850904721
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- Web of Science research areas
- Economics