{"title":"温室气体排放与股市波动:经合组织国家的实证分析","authors":"Jungsik Noh, Heejin Park","doi":"10.1108/ijccsm-10-2021-0124","DOIUrl":null,"url":null,"abstract":"\nPurpose\nThis study aims to explore empirical evidence of the impact of greenhouse gas (GHG) emissions on stock market volatility.\n\n\nDesign/methodology/approach\nUsing panel data of 35 Organization for Economic Co-operation and Development countries from 1992 to 2018, we conduct both fixed effects panel model and Prais-Winsten model with panel-corrected standard errors.\n\n\nFindings\nThe authors document that there is a significant positive relationship between GHG emissions and stock market volatility. The results remain robust after controlling for potential endogeneity problems.\n\n\nOriginality/value\nThis study contributes to the literature in that it provides additional empirical evidence for the financial risk posed by climate change.\n","PeriodicalId":46689,"journal":{"name":"International Journal of Climate Change Strategies and Management","volume":" ","pages":""},"PeriodicalIF":3.5000,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"Greenhouse gas emissions and stock market volatility: an empirical analysis of OECD countries\",\"authors\":\"Jungsik Noh, Heejin Park\",\"doi\":\"10.1108/ijccsm-10-2021-0124\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"\\nPurpose\\nThis study aims to explore empirical evidence of the impact of greenhouse gas (GHG) emissions on stock market volatility.\\n\\n\\nDesign/methodology/approach\\nUsing panel data of 35 Organization for Economic Co-operation and Development countries from 1992 to 2018, we conduct both fixed effects panel model and Prais-Winsten model with panel-corrected standard errors.\\n\\n\\nFindings\\nThe authors document that there is a significant positive relationship between GHG emissions and stock market volatility. The results remain robust after controlling for potential endogeneity problems.\\n\\n\\nOriginality/value\\nThis study contributes to the literature in that it provides additional empirical evidence for the financial risk posed by climate change.\\n\",\"PeriodicalId\":46689,\"journal\":{\"name\":\"International Journal of Climate Change Strategies and Management\",\"volume\":\" \",\"pages\":\"\"},\"PeriodicalIF\":3.5000,\"publicationDate\":\"2023-01-02\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Journal of Climate Change Strategies and Management\",\"FirstCategoryId\":\"90\",\"ListUrlMain\":\"https://doi.org/10.1108/ijccsm-10-2021-0124\",\"RegionNum\":3,\"RegionCategory\":\"社会学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"ENVIRONMENTAL STUDIES\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Climate Change Strategies and Management","FirstCategoryId":"90","ListUrlMain":"https://doi.org/10.1108/ijccsm-10-2021-0124","RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ENVIRONMENTAL STUDIES","Score":null,"Total":0}
Greenhouse gas emissions and stock market volatility: an empirical analysis of OECD countries
Purpose
This study aims to explore empirical evidence of the impact of greenhouse gas (GHG) emissions on stock market volatility.
Design/methodology/approach
Using panel data of 35 Organization for Economic Co-operation and Development countries from 1992 to 2018, we conduct both fixed effects panel model and Prais-Winsten model with panel-corrected standard errors.
Findings
The authors document that there is a significant positive relationship between GHG emissions and stock market volatility. The results remain robust after controlling for potential endogeneity problems.
Originality/value
This study contributes to the literature in that it provides additional empirical evidence for the financial risk posed by climate change.
期刊介绍：
Effective from volume 10 (2018), International Journal of Climate Change Strategies and Management is an open access journal. In the history of science there have been only a few issues which have mobilized the attention of scientists and policy-makers alike as the issue of climate change currently does. International Journal of Climate Change Strategies and Management is an international forum that addresses the need for disseminating scholarly research, projects and other initiatives aimed to facilitate a better understanding of the subject matter of climate change. The journal publishes papers dealing with policy-making on climate change, and methodological approaches to cope with the problems deriving from climate change. It disseminates experiences from projects and case studies where due consideration to environmental, economic, social and political aspects is given and especially the links and leverages that can be attained by this holistic approach. It regards climate change under the perspective of its wider implications: for economic growth, water and food security, and for people''s survival – especially those living in the poorest communities in developing countries.
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