Relationship Between Stock Prices and Climate Policy Uncertainty: NASDAQ Example

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SAVAŞ ÇELİK B.

GELISIM-UWE 2023, İstanbul, Türkiye, 5 - 07 Ekim 2023, ss.76-78

  • Yayın Türü: Bildiri / Özet Bildiri
  • Basıldığı Şehir: İstanbul
  • Basıldığı Ülke: Türkiye
  • Sayfa Sayıları: ss.76-78
  • İstanbul Gelişim Üniversitesi Adresli: Evet

Özet

RESEARCH PROBLEM. The aim of this study is to empirically investigate the short- and long-term effects of climate policy uncertainty (CPU) on NASDAQ stock market prices (P) 1987.04-2023.04. RESEARCH QUESTIONS. There are deficiencies in the creation of tables that clearly show the impact of climate change on financial markets. To address this shortcoming, policy makers need to be better informed about climate policy uncertainty and climate risk but how? How do CPU and/or the NASDAQ stock market relate to each other? Is there any relationship between two variables? ORIGINALITY/VALUE. It has attracted attention in recent years that climate change has the power to directly affect investors and institutions operating in financial sectors. This awareness continues to be kept on the agenda with the efforts of researchers and media organizations. For this reason, whether the CPU index prepared for America affects the NASDAQ stock market operating in America constitutes the originality of the research. In the study, the relationship analyzed using Engle – Granger Cointegration Test approach and Dynamic Least Squares (DOLS) was used to investigate the cointegration between the stock market prices and CPU.