Environmental transitions effect of renewable energy and fintech markets on Europe's real estate stock market

IF 9.1 1区工程技术 Q1 ENERGY & FUELS Renewable Energy Pub Date : 2025-04-15 Epub Date: 2025-02-04 DOI:10.1016/j.renene.2025.122603

Waheed Ullah Shah , Ijaz Younis , Ibtissem Missaoui , Xiyu Liu

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Abstract

This study explores volatility and the environmental transition effect of renewable energy and fintech markets on the European real estate market during the COVID-19 pandemic and the Russia-Ukraine conflict using the TVP-VAR connectedness approach. Overall, our study found strong connectedness between renewable energy, fintech, and European real estate stock markets in both crises from January 2019 to January 2024. During COVID-19, all renewable energy and European real estate markets are key net volatility spillover receivers; whereas fintech and other real estate markets are net spillover transmitters. In the Russia-Ukraine conflict, fintech, renewable energy, and the European real estate marketsare the prime net risk spillover receivers; whereas NEX and other real estate markets are net spillover transmitters. However, market returns further decreased in the Russia-Ukraine conflict compared to COVID-19. Our study provides significant and insightful policy implications for financial, digital, green, commercial, and residential real estate, and related industry stakeholders in Europe.

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可再生能源和金融科技市场对欧洲房地产股票市场的环境转型效应

本研究利用tpv - var连通性方法探讨了2019冠状病毒病大流行和俄罗斯-乌克兰冲突期间可再生能源和金融科技市场对欧洲房地产市场的波动性和环境转型效应。总体而言，我们的研究发现，在2019年1月至2024年1月的两次危机中，可再生能源、金融科技和欧洲房地产股票市场之间存在很强的联系。在2019冠状病毒病期间，所有可再生能源和欧洲房地产市场都是主要的净波动溢出效应接受者；而金融科技和其他房地产市场是净溢出效应的传播者。在俄乌冲突中，金融科技、可再生能源和欧洲房地产市场是主要的净风险溢出接受者；而纽交所和其他房地产市场是净溢出效应的传播者。然而，与2019冠状病毒病相比，俄罗斯-乌克兰冲突的市场回报率进一步下降。我们的研究为欧洲的金融、数字、绿色、商业和住宅房地产以及相关行业的利益相关者提供了重要而深刻的政策启示。

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来源期刊

Renewable Energy 工程技术-能源与燃料

CiteScore

18.40

自引率

9.20%

发文量

1955

审稿时长

6.6 months

期刊介绍： Renewable Energy journal is dedicated to advancing knowledge and disseminating insights on various topics and technologies within renewable energy systems and components. Our mission is to support researchers, engineers, economists, manufacturers, NGOs, associations, and societies in staying updated on new developments in their respective fields and applying alternative energy solutions to current practices. As an international, multidisciplinary journal in renewable energy engineering and research, we strive to be a premier peer-reviewed platform and a trusted source of original research and reviews in the field of renewable energy. Join us in our endeavor to drive innovation and progress in sustainable energy solutions.