Do all renewable energy stocks react to the war in Ukraine? Russo-Ukrainian conflict perspective

Si Mohammed, Kamel and Usman, Muhammad and Ahmad, Paiman and Bulgamaa, Urangoo (2022) Do all renewable energy stocks react to the war in Ukraine? Russo-Ukrainian conflict perspective. Environmental Science and Pollution Research, 30.

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This study investigates how renewable energy markets reacted to the war in Ukraine in 2022 using event study and network connectedness analyses and compares this effect to traditional energy sources. Combining event study with connectedness analysis is of great interest in identifying abnormal returns from the Russia-Ukraine conflict event. The risk-return profiles make clean energy more appealing to investors, and increased investment in clean energy subsectors leads to improved climate change mitigation. Sampled data are wrangled daily from 03 August 2021 to 30 March 2022. The results confirm that renewable energy markets have positive and significant cumulative abnormalities while traditional energy markets are heavily affected during the post-war. Moreover, we find higher pairwise return connectedness after the announcement event than during and before the war in Ukraine. The geothermal and full cell markets are the more robust net information transmitter to other clean energy subsectors. Finally, renewable energy appeared more pertinent during and after the Russian invasion of Ukraine, given its properties to serve diversifications and hedging tools.

Item Type: Article
Uncontrolled Keywords: Renewable energy · Russian-Ukrainian confict · Event study · Connectedness
Subjects: Social Science > HB Economic Theory
Social Science > HD Industries. Land use. Labor > HD28 Management. Industrial Management
J Political Science > JX International law
J Political Science > JZ International relations
K Law > K Law (General)
Depositing User: ePrints deposit
Date Deposited: 14 Sep 2023 12:55
Last Modified: 14 Sep 2023 12:55

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