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How Do Oil Price Changes Affect German Stock Returns?

Yıl 2015, Cilt: 5 Sayı: 1, 321 - 334, 01.03.2015

Laura Cüppers Dieter Smeets

Öz

In this article, the effects of oil price changes on the stock return of 17 German DAX companies are studied from February 1982 to July 2007. By applying panel estimations, we initially identify a nonlinear and asymmetric relationship between oil prices (quoted in US dollar) and the German stock market,which is consistent with a signalling (transmission) channel. Additionally, further evidence is provided for the signalling channel on a disaggregated and daily data base. The results reveal, however, that only certain specific industries are affected by oil price shocks, whereas others remain unaffected. These varying effects of oil price shocks mainly result from the cost- and demand-side dependence on oil that different companies are exposed to

Anahtar Kelimeler

Oil prices German stock returns firm level analysis

Yıl 2015, Cilt: 5 Sayı: 1, 321 - 334, 01.03.2015

Laura Cüppers Dieter Smeets

Öz

Toplam 0 adet kaynakça vardır.

Ayrıntılar

Diğer ID JA96CF93HJ
Bölüm Araştırma Makalesi
Yazarlar

Laura Cüppers Bu kişi benim

Dieter Smeets Bu kişi benim

Yayımlanma Tarihi 1 Mart 2015
Yayımlandığı Sayı Yıl 2015 Cilt: 5 Sayı: 1

Kaynak Göster

APA Cüppers, L., & Smeets, D. (2015). How Do Oil Price Changes Affect German Stock Returns?. International Journal of Energy Economics and Policy, 5(1), 321-334.
AMA Cüppers L, Smeets D. How Do Oil Price Changes Affect German Stock Returns?. IJEEP. Mart 2015;5(1):321-334.
Chicago Cüppers, Laura, ve Dieter Smeets. “How Do Oil Price Changes Affect German Stock Returns?”. International Journal of Energy Economics and Policy 5, sy. 1 (Mart 2015): 321-34.
EndNote Cüppers L, Smeets D (01 Mart 2015) How Do Oil Price Changes Affect German Stock Returns?. International Journal of Energy Economics and Policy 5 1 321–334.
IEEE L. Cüppers ve D. Smeets, “How Do Oil Price Changes Affect German Stock Returns?”, IJEEP, c. 5, sy. 1, ss. 321–334, 2015.
ISNAD Cüppers, Laura - Smeets, Dieter. “How Do Oil Price Changes Affect German Stock Returns?”. International Journal of Energy Economics and Policy 5/1 (Mart 2015), 321-334.
JAMA Cüppers L, Smeets D. How Do Oil Price Changes Affect German Stock Returns?. IJEEP. 2015;5:321–334.
MLA Cüppers, Laura ve Dieter Smeets. “How Do Oil Price Changes Affect German Stock Returns?”. International Journal of Energy Economics and Policy, c. 5, sy. 1, 2015, ss. 321-34.
Vancouver Cüppers L, Smeets D. How Do Oil Price Changes Affect German Stock Returns?. IJEEP. 2015;5(1):321-34.