Precious metals as safe-haven for clean energy stock investment: Evidence from nonparametric Granger causality in distribution test

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dc.authoridÇevik, Emre/0000-0002-2012-9886
dc.authoridÇevik, Emrah İsmail/0000-0002-8155-1597
dc.authorwosiderdoğan, fatma/HJY-1150-2023
dc.authorwosidÇevik, Emre/ABI-4835-2020
dc.authorwosidGedikli, Ayfer/AFU-9015-2022
dc.contributor.authorErdoğan, Seyfettin
dc.contributor.authorGedikli, Ayfer
dc.contributor.authorÇevik, Emrah İsmail
dc.contributor.authorErdogan, Fatma
dc.contributor.authorÇevik, Emre
dc.date.accessioned2023-07-26T11:53:50Z
dc.date.available2023-07-26T11:53:50Z
dc.date.issued2022
dc.departmentDÜ, Akçakoca Bey Siyasal Bilgiler Fakültesi, İktisat Bölümüen_US
dc.description.abstractThe study aims to examine the connectedness between clean energy stocks and precious metals prices under the different market episodes. We employ the Granger causality-in-the distribution test proposed by Candelon and Tokpavi (2016) to investigate the presence of a causality relationship between the variables for the whole dis-tribution because the test has superior power even if the sample size is small. WilderHill Clean Energy Index is considered a benchmark for the clean energy stock market and gold, silver, platinum, and palladium prices are used for the precious metals. By using daily data from January 1, 2001, to December 12, 2021, we find that there is a unidirectional causal link running from the clean energy stock returns to the precious metal prices in the center and the left tail of the distribution. On the other hand, there is strong feedback between the variables in the right tail of the distribution. These results show that clean energy stock prices have an edge in affecting precious metal prices and precious metals cannot be used to hedge the downside risk of clean energy stock investments.en_US
dc.identifier.doi10.1016/j.resourpol.2022.102945
dc.identifier.issn0301-4207
dc.identifier.issn1873-7641
dc.identifier.scopus2-s2.0-85136248378en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.urihttps://doi.org/10.1016/j.resourpol.2022.102945
dc.identifier.urihttps://hdl.handle.net/20.500.12684/12624
dc.identifier.volume79en_US
dc.identifier.wosWOS:000859575300001en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.institutionauthorGedikli, Ayfer
dc.language.isoenen_US
dc.publisherElsevier Sci Ltden_US
dc.relation.ispartofResources Policyen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.snmz$2023V1Guncelleme$en_US
dc.subjectClean Energy; Precious Metals; Gold; Causality; Hedgingen_US
dc.subjectQuantile Dependence; Price Uncertainty; Oil Prices; Impact; Volatility; Marketsen_US
dc.titlePrecious metals as safe-haven for clean energy stock investment: Evidence from nonparametric Granger causality in distribution testen_US
dc.typeArticleen_US

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