基地研究员任晓航副教授合作论文“Climate risk perception and oil financialization in China: Evidence from a time-varying Granger model”在重要学术期刊Research in International Business and Finance发表。

摘要：Financialization has introduced a new dimension to the oil market by incorporating various financial instruments and market participants. This study thus firstly measures the oil financialization by using daily data on Shanghai crude oil futures and Shanghai composite index. The results identify a lower level of oil financialization in China, implying that the oil market is independent on the stock market. Moreover, the exogenous events volatile the degree of oil financialization. We then estimate the impact of climate risk perception on oil financialization using a time-varying Granger model. Novel evidence finds negative and significant time-varying coefficients of climate risk perception on oil financialization, indicating that the effect of climate risk perception is non-constant over time. The empirical results reinforce the implications of the bounded rationality decision and signal theory.

关键词：Climate risk perceptionOil financializationShanghai crude oil futuresTime-varying Granger mode

论文链接：https://doi.org/10.1016/j.ribaf.2024.102662

教师简介

任晓航，中南大学商学院特聘副教授，Elsevier中国高被引学者，全球前2%顶尖科学家，主要从事能源金融、金融风险、金融计量等方面的研究，在Journal of the American Statistical Association、Transportation Research Part A、Energy Economics、Quantitative Finance、Review of Quantitative Finance and Accounting、International Review of Financial Analysis、Technological Forecasting and Social Change、Business Strategy and the Environment、Pacific-Basin Finance Journal、Applied Energy、Resources Policy、Renewable & Sustainable Energy Review、Energy、管理科学学报（英文版）、系统工程理论与实践、中国管理科学等国内外权威期刊上发表论文一百余篇，其中ESI热点文章/高被引论文三十余篇。担任Sustainable Communities(Taylor & Francis)领域主编，Humanities & Social Sciences Communications（Nature旗下唯一面向人文社会科学的子刊）等期刊副主编，Climate Change Economics, Economic Change and Restructuring等SSCI期刊客座主编。