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Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/34249
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dc.contributor.authorZiadat, Salem Adelen_UK
dc.contributor.authorMcMillan, Daviden_UK
dc.date.accessioned2022-05-04T00:05:32Z-
dc.date.available2022-05-04T00:05:32Z-
dc.date.issued2022-05-10en_UK
dc.identifier.urihttp://hdl.handle.net/1893/34249-
dc.description.abstractThis study examines the links between oil price shocks and GCC stock markets from February 2004 to December 2019. Initial results show a positive oil price change increases stock returns, while greater volatility decreases returns. Shock decomposition results reveal a significant positive impact of supply-side shocks on stocks. This contrasts with the literature that argues demand-side shocks are more important. Our result reflects the unique economic structure of the GCC bloc, marked by its dependence on oil revenues. In analysing quantile-based results, oil supply shocks mainly exhibit lower-tail dependence, while we uncover some evidence of demand-side shocks affecting mid and upper-tail dependence. These results will be of interest to global investors and GCC policy-makers.en_UK
dc.language.isoenen_UK
dc.publisherEmeralden_UK
dc.relationZiadat SA & McMillan D (2022) Oil-Stock Nexus: The Role of Oil Shocks for GCC Markets. Studies in Economics and Finance. https://doi.org/10.1108/SEF-12-2021-0529en_UK
dc.rightsPublisher policy allows this work to be made available in this repository. Published in Studies in Economics and Finance by Emerald. Ziadat SA & McMillan D (2022) Oil-Stock Nexus: The Role of Oil Shocks for GCC Markets. Studies in Economics and Finance. https://doi.org/10.1108/SEF-12-2021-0529. The original publication is available at: [DOI]. This author accepted manuscript is deposited under a Creative Commons Attribution Non-commercial 4.0 International (CC BY-NC) licence. This means that anyone may distribute, adapt, and build upon the work for non-commercial purposes, subject to full attribution. If you wish to use this manuscript for commercial purposes, please contact permissions@emerald.comen_UK
dc.rights.urihttp://creativecommons.org/licenses/by-nc/4.0/en_UK
dc.subjectEnergy financeen_UK
dc.subjectoil price shocksen_UK
dc.subjectemerging financial marketsen_UK
dc.titleOil-Stock Nexus: The Role of Oil Shocks for GCC Marketsen_UK
dc.typeJournal Articleen_UK
dc.rights.embargodate2022-05-10en_UK
dc.identifier.doi10.1108/SEF-12-2021-0529en_UK
dc.citation.jtitleStudies in Economics and Financeen_UK
dc.citation.issn1086-7376en_UK
dc.citation.peerreviewedRefereeden_UK
dc.type.statusAM - Accepted Manuscripten_UK
dc.author.emaildavid.mcmillan@stir.ac.uken_UK
dc.citation.date10/05/2022en_UK
dc.description.notesOutput Status: Forthcoming/Available Onlineen_UK
dc.contributor.affiliationAl-Ahliyya Amman Universityen_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.identifier.isiWOS:000792394400001en_UK
dc.identifier.wtid1812462en_UK
dc.contributor.orcid0000-0002-5891-4193en_UK
dc.date.accepted2022-04-17en_UK
dcterms.dateAccepted2022-04-17en_UK
dc.date.filedepositdate2022-05-01en_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.projectInternal Project|University of Stirling|https://isni.org/isni/0000000122484331en_UK
local.rioxx.freetoreaddate2022-05-10en_UK
local.rioxx.licencehttp://www.rioxx.net/licenses/under-embargo-all-rights-reserved||2022-05-10en_UK
local.rioxx.licencehttp://creativecommons.org/licenses/by-nc/4.0/|2022-05-10|en_UK
local.rioxx.filenamePDF_Proof.pdfen_UK
local.rioxx.filecount1en_UK
local.rioxx.source1086-7376en_UK
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