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From wars to waves: geopolitical risks and environmental investment behaviour

2024-03-05Journal article Open access
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dc.contributor.authorGabriel, Vítor
dc.contributor.authorDionísio, Andreia
dc.contributor.authorAlmeida, Dora
dc.contributor.authorFerreira, Paulo
dc.date.accessioned2024-04-24T14:08:54Z
dc.date.available2024-04-24T14:08:54Z
dc.date.issued2024-03-05
dc.date.updated2024-04-22T15:19:10Z
dc.description.abstractThis study investigates the impact of geopolitical risk (GPR) on sustainable investments, focusing on five global environmental indices and two global GPR indices. Using Corrected Dynamic Conditional Correlation Generalised Autoregressive Conditional Heteroskedasticity (cDCC-GARCH) model and Diebold and Yilmaz’s spillover analysis, we use daily data from January 2009 to October 2022, covering various market phases, including the European sovereign debt crisis, the COVID-19 pandemic, and the war in Ukraine. Results from the cDCC-GARCH model reveal high dynamic conditional correlations. During periods of high volatility, environmental indices displayed simultaneous and more intense responses, limiting investment diversification alternatives when considering only the environmental side. Diebold and Yilmaz’s static analysis demonstrates that environmental segments are more influenced by systemic shocks than specific causes, with GPR’s influence proving relatively weak. In the dynamic analysis, the spillover effects of GPR in environmental segments intensified during the pandemic crisis and the invasion of Ukraine, affecting market conditions.pt_PT
dc.description.versionN/Apt_PT
dc.identifier.doi10.1080/14631377.2024.2323763pt_PT
dc.identifier.slugcv-prod-4070696
dc.identifier.urihttp://hdl.handle.net/10400.26/50724
dc.language.isoN/Apt_PT
dc.relationResearch Center for Endogenous Resource Valorization
dc.relationCenter for Advanced Studies in Management and Economics
dc.subjectEnvironmental equitiespt_PT
dc.subjectglobal political riskpt_PT
dc.subjectspilloverspt_PT
dc.subjectextreme eventspt_PT
dc.subjectsustainable investmentpt_PT
dc.titleFrom wars to waves: geopolitical risks and environmental investment behaviourpt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.awardTitleResearch Center for Endogenous Resource Valorization
oaire.awardTitleCenter for Advanced Studies in Management and Economics
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F05064%2F2020/PT
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F04007%2F2020/PT
oaire.citation.titlePost-Communist Economiespt_PT
oaire.fundingStream6817 - DCRRNI ID
oaire.fundingStream6817 - DCRRNI ID
person.familyNameSousa Gabriel
person.familyNameDionisio
person.familyNameFortes de Almeida
person.familyNameFerreira
person.givenNameVítor Manuel
person.givenNameAndreia
person.givenNameDora Maria
person.givenNamePaulo
person.identifierAAT-3650-2021
person.identifier.ciencia-idA418-3834-D7DC
person.identifier.ciencia-id6B1B-238E-A3E7
person.identifier.ciencia-id181D-7395-0348
person.identifier.ciencia-idB513-B46A-E5F3
person.identifier.orcid0000-0003-3530-7080
person.identifier.orcid0000-0002-4289-9312
person.identifier.orcid0000-0003-0224-8635
person.identifier.orcid0000-0003-1951-889X
person.identifier.ridP-9622-2016
person.identifier.scopus-author-id35745865300
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.nameFundação para a Ciência e a Tecnologia
project.funder.nameFundação para a Ciência e a Tecnologia
rcaap.cv.cienciaid181D-7395-0348 | Dora Maria Fortes de Almeida
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT
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