 Metaverse tokens or metaverse stocks – Who’s the boss?David Y. Aharon, Ilan Alon and Oleg Vakhromov Research in International Business and Finance, 2024, vol. 69, issue C Abstract: The purpose of this article is to explore the relationship between metaverse stocks and metaverse crypto price fluctuations and spillovers. We use a TVP-VAR approach to examine the relationship between metaverse stocks and metaverse crypto, along with Bitcoin and Ethereum. Using a network design, we investigate whether metaverse tokens or metaverse stocks determine the return spillovers. Our main findings show that metaverse stocks are strongly influenced by fluctuations and return shocks from metaverse tokens and cryptocurrencies. In contrast, metaverse tokens are mainly affected by their own innovations and their crypto relatives, namely, Bitcoin and Ethereum, and to a lesser extent by the leading firms operating in the metaverse. From an investing perspective, the results show that metaverse tokens may offer diversification benefits to metaverse stocks, except in times of conflict, such as the Ukraine-Russia war, when returns of both stocks and cryptocurrencies tend to converge. Keywords: Connectedness; TVP-VAR; Cryptocurrencies; Metaverse; Metaverse tokens; Tokens (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:69:y:2024:i:c:s0275531924000515 DOI: 10.1016/j.ribaf.2024.102259 Access Statistics for this article Research in International Business and Finance is currently edited by T. Lagoarde Segot More articles in Research in International Business and Finance from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.