کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
6481246 1377580 2017 8 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Causes and consequences of energy price shocks on petroleum-based stock market using the spillover asymmetric multiplicative error model
ترجمه فارسی عنوان
علل و عواقب شوک قیمت های انرژی در بازار سهام مبتنی بر نفت با استفاده از مدل خطای تقریبی نامتقارن
کلمات کلیدی
SAMEM؛ بی ثباتی ژئوپولیتیک؛ شوکهای مالی؛ کشورهای GCC؛ اقتصاد مبتنی بر نفت
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
چکیده انگلیسی

We employ the spillover Asymmetric Multiplicative Error Model (SAMEM) to investigate the impacts of the global financial crises and the geopolitical instability in the oil rich countries. Consequently, such these events have a significant impact on the petroleum-based stock markets in the Gulf Cooperation Council (GCC) countries. The geopolitical instability includes several sources such as the Iran nuclear negotiations, the ISIS and other jihadist organizations, the continuous interruption in Iraq, the civil war in Syria, Libya, Yemen, as well as the rivalry between Shiite Iran and Sunni Saudi Arabia is the engine of conflict in the Middle East have a great impact on the oil price fluctuation. We find that the recent global financial crises and the geopolitical instability have a significant impact on both oil and natural gas prices. These shocks also have a significant impact on the selected petroleum-based stock markets during the period (July 18th, 2006-July 30th, 2015). The policy implications of the results are important for portfolio managers in the financial markets and the policy makers in the petroleum-based economies (as represented by the GCC stock markets).

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ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Research in International Business and Finance - Volume 39, Part A, January 2017, Pages 307-314
نویسندگان
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