Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/33618
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dc.contributor.authorZiadat, Salem Adelen_UK
dc.contributor.authorMcMillan, Daviden_UK
dc.contributor.authorHerbst, Patricken_UK
dc.date.accessioned2021-11-16T01:09:34Z-
dc.date.available2021-11-16T01:09:34Z-
dc.date.issued2022-03en_UK
dc.identifier.other102461en_UK
dc.identifier.urihttp://hdl.handle.net/1893/33618-
dc.description.abstractThis paper examines the impact of oil price shocks on global equities. The focus is on the heterogeneity of responses to stocks depending on three characteristics: the type of the shock; whether the country is an oil importer/exporter; the bull/bear state of the stock market. We utilise the Kilian (2009) structural VAR to distil the oil price shocks and regress stock returns on these oil shocks using a quantile regression. In addition to oil price shocks, we consider the role of both economic policy uncertainty and stock market volatility. The results reveal that equity markets in oil-importing economies do not exhibit specific patterns in response to oil shocks, whereas those in oil-exporting economies are affected by precautionary oil demand shocks. Across these markets, precautionary demand shocks have a positive effect on stock markets, although for the GCC nations it predominantly impacts only during bear markets.en_UK
dc.language.isoenen_UK
dc.publisherElsevieren_UK
dc.relationZiadat SA, McMillan D & Herbst P (2022) Oil shocks and equity returns during bull and bear markets: The case of oil importing and exporting nations. Resources Policy, 75, Art. No.: 102461. https://doi.org/10.1016/j.resourpol.2021.102461en_UK
dc.rightsThis item has been embargoed for a period. During the embargo please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study. Accepted refereed manuscript of: Ziadat SA, McMillan D & Herbst P (2022) Oil shocks and equity returns during bull and bear markets: The case of oil importing and exporting nations. Resources Policy, 75, Art. No.: 102461. https://doi.org/10.1016/j.resourpol.2021.102461 © 2021, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/en_UK
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/en_UK
dc.subjectStock Returnsen_UK
dc.subjectOil Shocksen_UK
dc.subjectQuantile Regressionen_UK
dc.subjectOil-Importers/Exporters JEL Codes: C22en_UK
dc.subjectG12en_UK
dc.titleOil shocks and equity returns during bull and bear markets: The case of oil importing and exporting nationsen_UK
dc.typeJournal Articleen_UK
dc.rights.embargodate2023-05-27en_UK
dc.rights.embargoreason[resources_policy_final.pdf] Publisher requires embargo of 18 months after publication.en_UK
dc.identifier.doi10.1016/j.resourpol.2021.102461en_UK
dc.citation.jtitleResources Policyen_UK
dc.citation.issn0301-4207en_UK
dc.citation.volume75en_UK
dc.citation.publicationstatusPublisheden_UK
dc.citation.peerreviewedRefereeden_UK
dc.type.statusAM - Accepted Manuscripten_UK
dc.author.emaildavid.mcmillan@stir.ac.uken_UK
dc.citation.date26/11/2021en_UK
dc.contributor.affiliationAl-Ahliyya Amman Universityen_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.identifier.isiWOS:000730844500008en_UK
dc.identifier.scopusid2-s2.0-85119929497en_UK
dc.identifier.wtid1772578en_UK
dc.contributor.orcid0000-0002-5891-4193en_UK
dc.contributor.orcid0000-0003-2916-7456en_UK
dc.date.accepted2021-11-03en_UK
dcterms.dateAccepted2021-11-03en_UK
dc.date.filedepositdate2021-11-13en_UK
rioxxterms.apcnot requireden_UK
rioxxterms.typeJournal Article/Reviewen_UK
rioxxterms.versionAMen_UK
local.rioxx.authorZiadat, Salem Adel|en_UK
local.rioxx.authorMcMillan, David|0000-0002-5891-4193en_UK
local.rioxx.authorHerbst, Patrick|0000-0003-2916-7456en_UK
local.rioxx.projectInternal Project|University of Stirling|https://isni.org/isni/0000000122484331en_UK
local.rioxx.freetoreaddate2023-05-27en_UK
local.rioxx.licencehttp://www.rioxx.net/licenses/under-embargo-all-rights-reserved||2023-05-26en_UK
local.rioxx.licencehttp://creativecommons.org/licenses/by-nc-nd/4.0/|2023-05-27|en_UK
local.rioxx.filenameresources_policy_final.pdfen_UK
local.rioxx.filecount1en_UK
local.rioxx.source0301-4207en_UK
Appears in Collections:Accounting and Finance Journal Articles

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