How do systematic risk spillovers reshape investment outcomes?

dc.contributor.author	Tao, Miaomiao
dc.contributor.author	Roubaud, David
dc.contributor.author	Tiwari, Aviral Kumar
dc.contributor.author	Silva, Emilson
dc.date.accessioned	2025-11-19T11:02:53Z
dc.date.issued	2025-04
dc.description.abstract	We investigate the effects of domestic and cross-border systematic risk spillovers on corporate investment metrics, using stock indices comprising 212 energy firms across 36 countries, spanning July 1, 2009, to August 31, 2023, sourced from S&P Global Commodity Insights®. The two-layered network underscores the catastrophic consequences induced by the Russia–Ukraine conflict in Europe. Our regression results designate that systematic risk spillovers composed of domestic and cross-border risks hinder corporate real investments while encouraging new investments and diminishing inefficiencies. Yet geopolitical risk amplifies these risks, leading to broader disruptions in investment behaviors.
dc.identifier.issn	1544-6131
dc.identifier.uri	https://doi.org/10.1016/j.frl.2025.106809
dc.identifier.uri	http://10.0.100.94:4000/handle/123456789/435
dc.language.iso	en
dc.publisher	Finance Research Letters
dc.relation.ispartofseries	Vol: 75; April 2025
dc.subject	Financial stability
dc.subject	Domestic and external risk spillovers
dc.subject	Complex network
dc.title	How do systematic risk spillovers reshape investment outcomes?
dc.type	Article

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