Dynamic risk connectedness of crude oil price and sustainable investment in the United States: evidence from DCC-GARCH

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dc.authorid0000-0001-8901-7965en_US
dc.contributor.authorOlasehinde-Williams, Godwin
dc.contributor.authorÖzkan, Oktay
dc.contributor.authorAkadiri, Seyi Saint
dc.date.accessioned2023-11-10T12:23:18Z
dc.date.available2023-11-10T12:23:18Z
dc.date.issued2023en_US
dc.departmentFakülteler, İşletme Fakültesi, Yönetim Bilişim Sistemleri (İngilizce) Bölümüen_US
dc.description.abstractSustainable investment is widely regarded as an important market-based approach to achieving inclusive green growth. To achieve the inclusive green growth objective, companies providing sustainable products must be proftable enough to attract private capital. Oil price changes can however afect the proftability of such companies. This study assesses volatility transmission between crude oil prices and sustainable investment in the USA. Using the dynamic conditional correlation generalized autoregressive conditional heteroskedasticity (DCC-GARCH) method, daily data from September 28, 2012, to October 19, 2022, is analyzed. There are several key fndings from this analysis. The risk connectedness of crude oil and sustainable investment is found to vary with time. Results further show that the risk connectedness increases in periods of important economic and geopolitical events. The greatest risk connectedness of crude oil and sustainable investment is observed during the outbreak of coronavirus disease (COVID-19). Moreover, the result shows that crude oil is the main risk transmitter, whereas, both the energy efciency and pollution mitigation indices (i.e., sustainable investment) are risk receivers, and crude oil is constantly dominating sustainable investment. The study fndings provide valuable insights for investors and policymakers alike.en_US
dc.identifier.doi10.1007/s11356-023-29008-4en_US
dc.identifier.endpage94987en_US
dc.identifier.issue41en_US
dc.identifier.pmid37542692en_US
dc.identifier.scopus2-s2.0-85166903600en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.startpage94976en_US
dc.identifier.urihttps://hdl.handle.net/11467/6989
dc.identifier.urihttps://doi.org/10.1007/s11356-023-29008-4
dc.identifier.volume30en_US
dc.identifier.wosWOS:001043356500002en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.indekslendigikaynakPubMeden_US
dc.language.isoenen_US
dc.publisherSpringeren_US
dc.relation.ispartofEnvironmental Science and Pollution Researchen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/embargoedAccessen_US
dc.subjectUSA, Crude oil, Sustainable investment, Dynamic risk connectedness, DCC-GARCHen_US
dc.titleDynamic risk connectedness of crude oil price and sustainable investment in the United States: evidence from DCC-GARCHen_US
dc.typeArticleen_US

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