Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Business and Policy Studies
Series Vol. 17 , 13 September 2023
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Studies of the relationship between international crude oil prices and stock prices of new energy companies and investor sentiment
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Abstract
This paper uses the daily data of the CSI Mainland New Energy Index, WTI crude oil price, and CSI 500 risk premium from January 2019 to September 2022 as samples to explore the interrelationship of the above variables using the Johansen cointegration test, Granger causality test, impulse response, and variance decomposition. The results show that in the short run, international crude oil price and risk premium have a significant effect on the share price of new energy companies; in the long run, global crude oil price cannot affect the share price of new energy companies, as well as international crude oil price and share price of new energy companies have a significant effect on the risk premium.
Keywords
CSI Mainland New Energy Index; WTI crude oil price; risk premium; investor sentiment
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Business and Policy Studies
- ISBN (Print)
- 978-1-915371-77-5
- ISBN (Online)
- 978-1-915371-78-2
- Published Date
- 13 September 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/17/20231071
- Copyright
- 13 September 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited