{"title":"2022 年美国能源独立与安全法案》是否与股市波动有关?","authors":"Hiridik Rajendran , Parthajit Kayal , Moinak Maiti","doi":"10.1016/j.jup.2024.101813","DOIUrl":null,"url":null,"abstract":"<div><p>This study investigates the influence of the U.S. Energy Independence and Security Act (EISA) of 2022 on stock market volatility. Considering potential policy impacts on market dynamics, it employs a mean-reverting jump-diffusion model for volatility analysis, supported by rigorous hypothesis testing to validate empirical findings. For investor sentiment analysis, a pre-trained model (BERT-base-multilingual-uncased) is used to assess sentiment, with logistic regression and Bidirectional LSTM utilized for sentiment prediction. Contrary to conventional findings, logistic regression outperforms Bidirectional LSTM for the small dataset. Overall, the study estimates show no statistically noteworthy difference in volatility before and after implementing the EISA of 2022. This study provides valuable insights for navigating financial decisions within the intricate landscape of energy markets.</p></div>","PeriodicalId":23554,"journal":{"name":"Utilities Policy","volume":"90 ","pages":"Article 101813"},"PeriodicalIF":3.8000,"publicationDate":"2024-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0957178724001061/pdfft?md5=123d1977e7c52204331953e952157ffc&pid=1-s2.0-S0957178724001061-main.pdf","citationCount":"0","resultStr":"{\"title\":\"Is the U.S. energy independence and Security Act of 2022 associated with stock market volatility?\",\"authors\":\"Hiridik Rajendran , Parthajit Kayal , Moinak Maiti\",\"doi\":\"10.1016/j.jup.2024.101813\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>This study investigates the influence of the U.S. Energy Independence and Security Act (EISA) of 2022 on stock market volatility. Considering potential policy impacts on market dynamics, it employs a mean-reverting jump-diffusion model for volatility analysis, supported by rigorous hypothesis testing to validate empirical findings. For investor sentiment analysis, a pre-trained model (BERT-base-multilingual-uncased) is used to assess sentiment, with logistic regression and Bidirectional LSTM utilized for sentiment prediction. Contrary to conventional findings, logistic regression outperforms Bidirectional LSTM for the small dataset. Overall, the study estimates show no statistically noteworthy difference in volatility before and after implementing the EISA of 2022. This study provides valuable insights for navigating financial decisions within the intricate landscape of energy markets.</p></div>\",\"PeriodicalId\":23554,\"journal\":{\"name\":\"Utilities Policy\",\"volume\":\"90 \",\"pages\":\"Article 101813\"},\"PeriodicalIF\":3.8000,\"publicationDate\":\"2024-08-16\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://www.sciencedirect.com/science/article/pii/S0957178724001061/pdfft?md5=123d1977e7c52204331953e952157ffc&pid=1-s2.0-S0957178724001061-main.pdf\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Utilities Policy\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0957178724001061\",\"RegionNum\":3,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"ENERGY & FUELS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Utilities Policy","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0957178724001061","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ENERGY & FUELS","Score":null,"Total":0}
Is the U.S. energy independence and Security Act of 2022 associated with stock market volatility?
This study investigates the influence of the U.S. Energy Independence and Security Act (EISA) of 2022 on stock market volatility. Considering potential policy impacts on market dynamics, it employs a mean-reverting jump-diffusion model for volatility analysis, supported by rigorous hypothesis testing to validate empirical findings. For investor sentiment analysis, a pre-trained model (BERT-base-multilingual-uncased) is used to assess sentiment, with logistic regression and Bidirectional LSTM utilized for sentiment prediction. Contrary to conventional findings, logistic regression outperforms Bidirectional LSTM for the small dataset. Overall, the study estimates show no statistically noteworthy difference in volatility before and after implementing the EISA of 2022. This study provides valuable insights for navigating financial decisions within the intricate landscape of energy markets.
期刊介绍:
Utilities Policy is deliberately international, interdisciplinary, and intersectoral. Articles address utility trends and issues in both developed and developing economies. Authors and reviewers come from various disciplines, including economics, political science, sociology, law, finance, accounting, management, and engineering. Areas of focus include the utility and network industries providing essential electricity, natural gas, water and wastewater, solid waste, communications, broadband, postal, and public transportation services.
Utilities Policy invites submissions that apply various quantitative and qualitative methods. Contributions are welcome from both established and emerging scholars as well as accomplished practitioners. Interdisciplinary, comparative, and applied works are encouraged. Submissions to the journal should have a clear focus on governance, performance, and/or analysis of public utilities with an aim toward informing the policymaking process and providing recommendations as appropriate. Relevant topics and issues include but are not limited to industry structures and ownership, market design and dynamics, economic development, resource planning, system modeling, accounting and finance, infrastructure investment, supply and demand efficiency, strategic management and productivity, network operations and integration, supply chains, adaptation and flexibility, service-quality standards, benchmarking and metrics, benefit-cost analysis, behavior and incentives, pricing and demand response, economic and environmental regulation, regulatory performance and impact, restructuring and deregulation, and policy institutions.