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Extreme risk connection among the European Tourism, energy and carbon emission markets

Hongjun Zeng, Mohammad Abedin Orcid Logo, Abdullahi D. Ahmed, Qingcheng Huang

Research in International Business and Finance, Volume: 74, Start page: 102693

Swansea University Author: Mohammad Abedin Orcid Logo

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DOI (Published version): 10.1016/j.ribaf.2024.102693

Abstract

This article presents a novel examination of the risk connectedness patterns and causality relationships between European Tourism and the Energy and Carbon Emissions Market. The findings indicate that the risk connectedness between European Tourism and the Energy and Carbon Emissions Market exhibits...

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Published in: Research in International Business and Finance
ISSN: 0275-5319
Published: Elsevier BV 2025
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URI: https://cronfa.swan.ac.uk/Record/cronfa68497
first_indexed 2024-12-09T19:47:28Z
last_indexed 2025-02-07T05:55:35Z
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spelling 2025-02-06T12:06:43.1506325 v2 68497 2024-12-09 Extreme risk connection among the European Tourism, energy and carbon emission markets 4ed8c020eae0c9bec4f5d9495d86d415 0000-0002-4688-0619 Mohammad Abedin Mohammad Abedin true false 2024-12-09 CBAE This article presents a novel examination of the risk connectedness patterns and causality relationships between European Tourism and the Energy and Carbon Emissions Market. The findings indicate that the risk connectedness between European Tourism and the Energy and Carbon Emissions Market exhibits asymmetric characteristics, displaying weaker connectedness in median and high states compared to normal market conditions. Notably, connectedness is more pronounced in extreme tail cases. Additionally, the European Tourism Sector Index is less susceptible to risks in the European Energy and Carbon Emissions market during bear markets. Furthermore, Rotterdam Coal Futures and Dutch TTF Natural Gas Futures contribute significantly to the volatility connectedness of the European Tourism Sector Index. The findings of the quantile Granger causality test confirmed the existence of causality between the European Tourism Index and the European Energy and Carbon Markets across all market states. Journal Article Research in International Business and Finance 74 102693 Elsevier BV 0275-5319 European tourism sector index; European energy and carbon emissions market; Quantile connectedness; Risk spillover; Quantile granger causality 1 2 2025 2025-02-01 10.1016/j.ribaf.2024.102693 COLLEGE NANME Management School COLLEGE CODE CBAE Swansea University SU Library paid the OA fee (TA Institutional Deal) Swansea University 2025-02-06T12:06:43.1506325 2024-12-09T12:45:41.2444591 Faculty of Humanities and Social Sciences School of Management - Accounting and Finance Hongjun Zeng 1 Mohammad Abedin 0000-0002-4688-0619 2 Abdullahi D. Ahmed 3 Qingcheng Huang 4 68497__33087__5bee58309a8a480a9aaf1c59c5819e34.pdf 68497.VoR.pdf 2024-12-09T12:49:20.1925472 Output 6074395 application/pdf Version of Record true © 2024 The Author(s). This is an open access article under the CC BY license. true eng http://creativecommons.org/licenses/by/4.0/
title Extreme risk connection among the European Tourism, energy and carbon emission markets
spellingShingle Extreme risk connection among the European Tourism, energy and carbon emission markets
Mohammad Abedin
title_short Extreme risk connection among the European Tourism, energy and carbon emission markets
title_full Extreme risk connection among the European Tourism, energy and carbon emission markets
title_fullStr Extreme risk connection among the European Tourism, energy and carbon emission markets
title_full_unstemmed Extreme risk connection among the European Tourism, energy and carbon emission markets
title_sort Extreme risk connection among the European Tourism, energy and carbon emission markets
author_id_str_mv 4ed8c020eae0c9bec4f5d9495d86d415
author_id_fullname_str_mv 4ed8c020eae0c9bec4f5d9495d86d415_***_Mohammad Abedin
author Mohammad Abedin
author2 Hongjun Zeng
Mohammad Abedin
Abdullahi D. Ahmed
Qingcheng Huang
format Journal article
container_title Research in International Business and Finance
container_volume 74
container_start_page 102693
publishDate 2025
institution Swansea University
issn 0275-5319
doi_str_mv 10.1016/j.ribaf.2024.102693
publisher Elsevier BV
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Accounting and Finance{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Accounting and Finance
document_store_str 1
active_str 0
description This article presents a novel examination of the risk connectedness patterns and causality relationships between European Tourism and the Energy and Carbon Emissions Market. The findings indicate that the risk connectedness between European Tourism and the Energy and Carbon Emissions Market exhibits asymmetric characteristics, displaying weaker connectedness in median and high states compared to normal market conditions. Notably, connectedness is more pronounced in extreme tail cases. Additionally, the European Tourism Sector Index is less susceptible to risks in the European Energy and Carbon Emissions market during bear markets. Furthermore, Rotterdam Coal Futures and Dutch TTF Natural Gas Futures contribute significantly to the volatility connectedness of the European Tourism Sector Index. The findings of the quantile Granger causality test confirmed the existence of causality between the European Tourism Index and the European Energy and Carbon Markets across all market states.
published_date 2025-02-01T08:51:32Z
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score 11.051391

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