Search results for "keinottelu"

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Speculation and lottery-like demand in cryptocurrency markets

2021

Abstract This is the first paper that explores lottery-like demand in cryptocurrency markets. Since recent research provides evidence that cryptocurrency returns appear to be short-memory processes, we modify Bali, Cakici and Whitelaw’s (2011) and Bali, Brown, Murray, and Tang’s (2017) MAX measure and employ a weekly forecast horizon and daily log-returns from the previous week to calculate the metric for our portfolio sorts. From an econometric point of view, this study proposes statistical tests that are robust to unknown dynamic dependency structures in the cryptocurrency data. Our results show that average raw and risk-adjusted return differences between cryptocurrencies in the lowest a…

Economics and EconometricsCryptocurrencyDiscount pointslottery-like demandFinTechFinTechLotteryfinancial technology0502 economics and businessmarkkinat (taloustiede)rahapelitEconometricsEconomicssijoitustoimintaSpeculationkeinotteluStock (geology)040101 forestry050208 financebusiness.industry05 social sciences04 agricultural and veterinary sciencescryptocurrencyVirtual currencygamblingvirtuaalivaluutta0401 agriculture forestry and fisheriesPortfoliobusinessFinanceMAXJournal of International Financial Markets, Institutions and Money
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Dependence between renewable energy related critical metal futures and producer equity markets across varying market conditions

2022

We study the dependence of renewable energy production-related critical metal futures and producer equity returns, compared to the non-renewable energy (oil and natural gas) and some other globally relevant commodity markets. We find different asymmetric and symmetric dependencies in these commodity markets. The dependence is asymmetric in the most important critical metal markets, i.e., of silver, copper, and platinum. Still, surprisingly, for example, in the oil market, the relationship is symmetric, and no relationship is found in the natural gas market. Furthermore, the oil and agricultural markets have homogenous dependence structures in most market conditions, so the information trans…

Renewable energyuusiutuvat energialähteetRenewable Energy Sustainability and the EnvironmentCritical metals; Renewable energy; Commodity futures; Producer stock markets; Spillover; Tail conditionsProducer stock marketsCritical metalshintakehityspääomamarkkinatSpilloverraaka-aineetCommodity futuresfutuuritmetallitEnergy SystemsTail conditionskeinotteluEnergisystemRenewable Energy
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