Details about Dayong Zhang

Access statistics for papers by Dayong Zhang.

Last updated 2025-04-06. Update your information in the RePEc Author Service.

Short-id: pzh411

Working Papers

2015

1. Efficiency Snakes and Energy Ladders: A (meta-)frontier demand analysis of electricity consumption efficiency in Chinese households
   Surrey Energy Economics Centre (SEEC), School of Economics Discussion Papers (SEEDS), Surrey Energy Economics Centre (SEEC), School of Economics, University of Surrey
   See also Journal Article Efficiency snakes and energy ladders: A (meta-)frontier demand analysis of electricity consumption efficiency in Chinese households, Energy Policy, Elsevier (2016) View citations (61) (2016)

2014

2. Impact of International Oil Price Shocks on Consumption Expenditures in ASEAN and East Asia
   Working Papers, Economic Research Institute for ASEAN and East Asia (ERIA) View citations (3)
3. The direct and indirect effects of oil shocks on energy related stocks
   Surrey Energy Economics Centre (SEEC), School of Economics Discussion Papers (SEEDS), Surrey Energy Economics Centre (SEEC), School of Economics, University of Surrey View citations (20)

2013

4. Searching for the Parallel Growth of Cities
   Working Papers, Wang Yanan Institute for Studies in Economics (WISE), Xiamen University View citations (17)
   Also in MPRA Paper, University Library of Munich, Germany (2010) View citations (3)

2012

5. Oil Shocks and their Impact on Energy Related Stocks in China
   Surrey Energy Economics Centre (SEEC), School of Economics Discussion Papers (SEEDS), Surrey Energy Economics Centre (SEEC), School of Economics, University of Surrey View citations (203)
   See also Journal Article Oil shocks and their impact on energy related stocks in China, Energy Economics, Elsevier (2012) View citations (199) (2012)

2009

6. Fractional Integration and Cointegration: Testing the Term Structure of Interest Rates
   Discussion Papers, Department of Economics, University of Birmingham View citations (1)

2008

7. Volatility Switching in Shanghai Stock Exchange: Does regulation help reduce volatility?
   MPRA Paper, University Library of Munich, Germany View citations (1)

2006

8. Structural Breaks, Cointegration and the B Share Discount in Chinese Stock Market
   EcoMod2006, EcoMod View citations (4)
   Also in MPRA Paper, University Library of Munich, Germany (2006) View citations (4)

Journal Articles

2025

1. Does climate risk affect the performance of companies in China?
   Applied Economics Letters, 2025, 32, (6), 843-849
2. Does public attention to biodiversity matter to stock markets?
   International Review of Financial Analysis, 2025, 98, (C)
3. Spillover among biodiversity attention, climate policy uncertainty and global stock markets
   Finance Research Letters, 2025, 73, (C)

2024

4. Climate impacts on the loan quality of Chinese regional commercial banks
   Journal of International Money and Finance, 2024, 140, (C) View citations (6)
5. Coupling between global climate policy uncertainty and economic policy uncertainty
   Finance Research Letters, 2024, 69, (PB) View citations (1)
6. Cryptocurrencies under climate shocks: a dynamic network analysis of extreme risk spillovers
   Financial Innovation, 2024, 10, (1), 1-39
7. Do natural disasters affect stock price crash risk? Evidence from emerging markets
   Journal of International Financial Markets, Institutions and Money, 2024, 93, (C) View citations (1)
8. ESG performance and corporate external financing in China: The role of rating disagreement
   Research in International Business and Finance, 2024, 69, (C) View citations (12)
9. Emission trading schemes and cross-border mergers and acquisitions
   Journal of Environmental Economics and Management, 2024, 124, (C) View citations (4)
10. Energy access and female labor force participation in developing countries
    Renewable and Sustainable Energy Reviews, 2024, 199, (C) View citations (1)
11. Energy trade stability of China: Policy options with increasing climate risks
    Energy Policy, 2024, 184, (C) View citations (1)
12. Excess stock returns and corporate environmental performance in China
    Financial Innovation, 2024, 10, (1), 1-30 View citations (1)
13. Global climate policy uncertainty and financial markets
    Journal of International Financial Markets, Institutions and Money, 2024, 95, (C) View citations (2)
14. How does Shanghai crude oil futures affect top global oil companies: The role of multi-uncertainties
    Energy Economics, 2024, 131, (C) View citations (1)
15. Investor sentiments and extreme risk spillovers from oil to stock markets: evidence from Asian countries
    Journal of the Asia Pacific Economy, 2024, 29, (3), 1257-1283 View citations (1)
16. On the interactive effects of climate policies: Insights from a stock-flow consistent model
    Applied Energy, 2024, 358, (C) View citations (3)
17. Optimal monetary policy responses to carbon and green bubbles:A two-sector DSGE analysis
    Energy Economics, 2024, 130, (C) View citations (4)
18. Policy spillovers from climate actions to energy poverty: International evidence
    EconStor Open Access Articles and Book Chapters, 2024, 11
    Also in Palgrave Communications, 2024, 11, (1), 1-12 (2024)
19. Resolve climate-policy uncertainties in the US and China
    Nature, 2024, 625, (7996), 663-663 View citations (2)
20. To be green or not to be: How governmental regulation shapes financial institutions' greenwashing behaviors in green finance
    International Review of Financial Analysis, 2024, 93, (C) View citations (1)
21. Tourism in pandemic: the role of digital travel vouchers in China
    Palgrave Communications, 2024, 11, (1), 1-15 View citations (1)

2023

22. A text-based managerial climate attention index of listed firms in China
    Finance Research Letters, 2023, 55, (PA) View citations (11)
23. Climate events matter in the global natural gas market
    Energy Economics, 2023, 125, (C) View citations (5)
24. Energy market reforms in China and the time-varying connectedness of domestic and international markets
    Energy Economics, 2023, 117, (C) View citations (11)
25. Geopolitical risk, climate risk and energy markets: A dynamic spillover analysis
    International Review of Financial Analysis, 2023, 87, (C) View citations (34)
26. Identifying systemically important financial institutions in China: new evidence from a dynamic copula-CoVaR approach
    Annals of Operations Research, 2023, 330, (1), 119-153
27. Negative elements of cryptocurrencies: Exploring the drivers of Bitcoin carbon footprints
    Finance Research Letters, 2023, 58, (PA) View citations (3)
28. Predicting natural gas futures’ volatility using climate risks
    Finance Research Letters, 2023, 55, (PA) View citations (7)
29. “Not all climate risks are alike”: Heterogeneous responses of financial firms to natural disasters in China
    Finance Research Letters, 2023, 52, (C) View citations (20)

2022

30. Complex risk contagions among large international energy firms: A multi-layer network analysis
    Energy Economics, 2022, 114, (C) View citations (20)
31. Cryptocurrency Bubble on the Systemic Risk in Global Energy Companies
    The Energy Journal, 2022, 43, (1_suppl), 1-24 View citations (1)
32. Impacts of regional cooperation agreements on international tourism: Evidence from a quasi-natural experiment
    International Review of Economics & Finance, 2022, 82, (C), 663-676 View citations (1)
33. Intra-day co-movements of crude oil futures: China and the international benchmarks
    Annals of Operations Research, 2022, 313, (1), 77-103 View citations (15)
34. Introduction to the Special Issue on “Energy Market Transition, Financialization and Integrationâ€
    The Energy Journal, 2022, 43, (1_suppl), 1-4
35. Resource misallocation and the development of hydropower industry
    Applied Energy, 2022, 306, (PA) View citations (8)
36. The Anglo-Saxon premium in foreign CEO compensation
    Finance Research Letters, 2022, 47, (PA) View citations (1)
37. The capital market responses to new energy vehicle (NEV) subsidies: An event study on China
    Energy Economics, 2022, 105, (C) View citations (16)
38. Time-varying determinants of China's liquefied natural gas import price: A dynamic model averaging approach
    Energy, 2022, 259, (C) View citations (7)

2021

39. Board characteristics, external governance and the use of renewable energy: International evidence
    Journal of International Financial Markets, Institutions and Money, 2021, 72, (C) View citations (28)
40. Climate variations, culture and economic behaviour of Chinese households
    Climatic Change, 2021, 167, (1), 1-18 View citations (3)
41. Demand for green finance: Resolving financing constraints on green innovation in China
    Energy Policy, 2021, 153, (C) View citations (238)
42. Do oil price changes really matter for clean energy returns?
    Renewable and Sustainable Energy Reviews, 2021, 150, (C) View citations (41)
43. ENERGY INSECURITY, ECONOMIC GROWTH, AND THE ROLE OF RENEWABLE ENERGY: A CROSS-COUNTRY PANEL ANALYSIS
    The Singapore Economic Review (SER), 2021, 66, (02), 323-343 View citations (3)
44. Extreme risk spillover between chinese and global crude oil futures
    Finance Research Letters, 2021, 40, (C) View citations (28)
45. How does the capital market respond to policy shocks? Evidence from listed solar photovoltaic companies in China
    Energy Policy, 2021, 151, (C) View citations (3)
46. Low-carbon transformation of cities: Understanding the demand for dockless bike sharing in China
    Energy Policy, 2021, 159, (C) View citations (8)
47. Modeling return and volatility spillover networks of global new energy companies
    Renewable and Sustainable Energy Reviews, 2021, 135, (C) View citations (30)
48. Regional housing price dependency in the UK: A dynamic network approach
    Urban Studies, 2021, 58, (5), 1014-1031 View citations (5)
49. Systemic risk and financial contagion across top global energy companies
    Energy Economics, 2021, 97, (C) View citations (38)
50. Systemic risk in the Chinese financial system: A copula‐based network approach
    International Journal of Finance & Economics, 2021, 26, (2), 2044-2063 View citations (10)
51. ‘Growing out of the growing pain’: Financial literacy and life insurance demand in China
    Pacific-Basin Finance Journal, 2021, 66, (C) View citations (5)

2020

52. Assessment and optimization of provincial CO2 emission reduction scheme in China: An improved ZSG-DEA approach
    Energy Economics, 2020, 91, (C) View citations (30)
53. Dependency, centrality and dynamic networks for international commodity futures prices
    International Review of Economics & Finance, 2020, 67, (C), 118-132 View citations (51)
54. Does better access to credit help reduce energy intensity in China? Evidence from manufacturing firms
    Energy Policy, 2020, 145, (C) View citations (30)
55. Financial Integration in Asia: A Systemic View on Currency Markets*
    Asian Economic Papers, 2020, 19, (2), 41-58 View citations (1)
56. Financial development, natural disasters, and economics of the Pacific small island states
    Economic Analysis and Policy, 2020, 66, (C), 168-181 View citations (21)
57. Financial markets under the global pandemic of COVID-19
    Finance Research Letters, 2020, 36, (C) View citations (765)
58. Global financial crisis and rising connectedness in the international commodity markets
    International Review of Financial Analysis, 2020, 68, (C) View citations (116)
59. Identifying Strategic Traders in China's Pilot Carbon Emissions Trading Scheme
    The Energy Journal, 2020, Volume 41, (Number 2), 123-142 View citations (12)
60. Identifying Strategic Traders in China’s Pilot Carbon Emissions Trading Scheme
    The Energy Journal, 2020, 41, (2), 123-142 View citations (1)
61. Is heterogeneous capital depreciation important for estimating firm-level productivity? Evidence from Chinese manufacturing firms
    Research in International Business and Finance, 2020, 52, (C) View citations (5)
62. Macro factors and the realized volatility of commodities: A dynamic network analysis
    Resources Policy, 2020, 68, (C) View citations (55)
63. Market reforms and determinants of import natural gas prices in China
    Energy, 2020, 196, (C) View citations (21)
64. On realized volatility of crude oil futures markets: Forecasting with exogenous predictors under structural breaks
    Energy Economics, 2020, 89, (C) View citations (35)
65. Regional renewable energy development in China: A multidimensional assessment
    Renewable and Sustainable Energy Reviews, 2020, 124, (C) View citations (49)
66. Searching for safe-haven assets during the COVID-19 pandemic
    International Review of Financial Analysis, 2020, 71, (C) View citations (304)
67. Technological catching up and innovation policies in China: What is behind this largely successful story?
    Technological Forecasting and Social Change, 2020, 153, (C) View citations (13)

2019

68. A bibliometric analysis on green finance: Current status, development, and future directions
    Finance Research Letters, 2019, 29, (C), 425-430 View citations (154)
69. A multidimensional measure of energy poverty in China and its impacts on health: An empirical study based on the China family panel studies
    Energy Policy, 2019, 131, (C), 72-81 View citations (129)
70. China’s crude oil futures: Introduction and some stylized facts
    Finance Research Letters, 2019, 28, (C), 376-380 View citations (47)
71. Connectedness and risk spillovers in China’s stock market: A sectoral analysis
    Economic Systems, 2019, 43, (3) View citations (44)
72. Do seasoned offerings improve the performance of issuing firms? Evidence from China
    International Review of Financial Analysis, 2019, 62, (C), 104-123 View citations (5)
73. Does Bank Competition Alleviate Financing Constraints in China? Further Evidence From Listed Firms
    Emerging Markets Finance and Trade, 2019, 55, (9), 2124-2145 View citations (10)
74. Does gender inequality affect household green consumption behaviour in China?
    Energy Policy, 2019, 135, (C) View citations (41)
75. Dynamic transmission mechanisms in global crude oil prices: Estimation and implications
    Energy, 2019, 175, (C), 1181-1193 View citations (54)
76. Economic policy uncertainty in the US and China and their impact on the global markets
    Economic Modelling, 2019, 79, (C), 47-56 View citations (109)
77. Financialization, fundamentals, and the time-varying determinants of US natural gas prices
    Energy Economics, 2019, 80, (C), 707-719 View citations (39)
78. How does the Chinese economy react to uncertainty in international crude oil prices?
    International Review of Economics & Finance, 2019, 64, (C), 147-164 View citations (42)
79. How much does financial development contribute to renewable energy growth and upgrading of energy structure in China?
    Energy Policy, 2019, 128, (C), 114-124 View citations (221)
80. Impacts of China-US trade conflicts on the energy sector
    China Economic Review, 2019, 58, (C) View citations (19)
81. Regional spillover and rising connectedness in China’s urban housing prices
    Regional Studies, 2019, 53, (6), 861-873 View citations (19)
82. Social-media and intraday stock returns: The pricing power of sentiment
    Finance Research Letters, 2019, 30, (C), 116-123 View citations (54)
83. Socio-economic development and electricity access in developing economies: A long-run model averaging approach
    Energy Policy, 2019, 132, (C), 223-231 View citations (35)
84. Spillovers between oil and stock returns in the US energy sector: Does idiosyncratic information matter?
    Energy Economics, 2019, 81, (C), 536-544 View citations (94)
85. Subsidized overexpansion of Chinese firms
    International Review of Financial Analysis, 2019, 62, (C), 69-79 View citations (6)
86. The Impact of Social Awareness and Lifestyles on Household Carbon Emissions in China
    Ecological Economics, 2019, 160, (C), 145-155 View citations (70)
87. The impact of OPEC on East Asian oil import security: A multidimensional analysis
    Energy Policy, 2019, 126, (C), 99-107 View citations (43)

2018

88. Energy Finance: Background, Concept, and Recent Developments
    Emerging Markets Finance and Trade, 2018, 54, (8), 1687-1692 View citations (35)
89. Further evidence on the debate of oil-gas price decoupling: A long memory approach
    Energy Policy, 2018, 113, (C), 68-75 View citations (65)
90. Is hub-based pricing a better choice than oil indexation for natural gas? Evidence from a multiple bubble test
    Energy Economics, 2018, 76, (C), 495-503 View citations (41)
91. Oil indexation, market fundamentals, and natural gas prices: An investigation of the Asian premium in natural gas trade
    Energy Economics, 2018, 69, (C), 33-41 View citations (88)
92. On the Effectiveness of the Abatement Policy Mix: A Case Study of China’s Energy-Intensive Sectors
    Energies, 2018, 11, (3), 1-31 View citations (2)
93. Real estate investments and financial stability: evidence from regional commercial banks in China
    The European Journal of Finance, 2018, 24, (16), 1388-1408 View citations (20)

2017

94. Oil shocks and stock markets revisited: Measuring connectedness from a global perspective
    Energy Economics, 2017, 62, (C), 323-333 View citations (242)

2016

95. Club Convergence in the Energy Intensity of China
    The Energy Journal, 2016, 37, (3), 137-158 View citations (1)
96. Does the Introduction of Stock Index Futures Destabilize the Spot Market? Some Cross-Country Evidence from Asia
    Chinese Economy, 2016, 49, (5), 374-394
97. Efficiency snakes and energy ladders: A (meta-)frontier demand analysis of electricity consumption efficiency in Chinese households
    Energy Policy, 2016, 91, (C), 383-396 View citations (61)
    See also Working Paper Efficiency Snakes and Energy Ladders: A (meta-)frontier demand analysis of electricity consumption efficiency in Chinese households, Surrey Energy Economics Centre (SEEC), School of Economics Discussion Papers (SEEDS) (2015) (2015)
98. Exuberance in China's renewable energy investment: Rationality, capital structure and implications with firm level evidence
    Energy Policy, 2016, 95, (C), 468-478 View citations (58)
    See also Chapter Exuberance in China's Renewable Energy Investment: Rationality, Capital Structure, and Implications with Firm Level Evidence, Chapters, 193-222 View citations (1)
99. Free cash flows and overinvestment: Further evidence from Chinese energy firms
    Energy Economics, 2016, 58, (C), 116-124 View citations (25)
100. Identifying the determinants of energy intensity in China: A Bayesian averaging approach
     Applied Energy, 2016, 168, (C), 672-682 View citations (20)
101. Market Reaction to Seasoned Offerings in China
     Journal of Business Finance & Accounting, 2016, 43, (5-6), 597-653 View citations (15)
102. Non-performing loans, moral hazard and regulation of the Chinese commercial banking system
     Journal of Banking & Finance, 2016, 63, (C), 48-60 View citations (114)
103. Shocks and Stocks: A Bottom-up Assessment of the Relationship Between Oil Prices, Gasoline Prices and the Returns of Chinese Firms
     The Energy Journal, 2016, Volume 37, (China Special Issue) View citations (54)
     Also in The Energy Journal, 2016, 37, (1_suppl), 55-86 (2016) View citations (2)
104. Understanding China from a Household’s Perspective: Studies Based on the China Household Finance Survey (CHFS)
     Emerging Markets Finance and Trade, 2016, 52, (8), 1725-1727 View citations (5)

2015

105. Hedging or Speculation: What Can We Learn from the Volume-Return Relationship?
     Emerging Markets Finance and Trade, 2015, 51, (6), 1117-1128 View citations (3)
106. Politics, Finance, and Economic Fluctuations in China
     Emerging Markets Finance and Trade, 2015, 51, (6), 1071-1073
107. Residual-Based Tests for Fractional Cointegration: Testing the Term Structure of Interest Rates
     Econometric Reviews, 2015, 34, (6-10), 1118-1140 View citations (1)

2014

108. Direct and indirect oil shocks and their impacts upon energy related stocks
     Economic Systems, 2014, 38, (3), 451-467 View citations (32)
109. Economic and Financial Challenges and Issues in the Asia-Pacific Countries: Guest Editors' Introduction
     Emerging Markets Finance and Trade, 2014, 50, (1), 118-119
110. International oil shocks and household consumption in China
     Energy Policy, 2014, 75, (C), 146-156 View citations (23)

2013

111. Searching for the Parallel Growth of Cities in China
     Urban Studies, 2013, 50, (10), 2118-2135 View citations (15)
112. Sectoral Responses of the Chinese Stock Market to International Oil Shocks
     Emerging Markets Finance and Trade, 2013, 49, (6), 37-51 View citations (24)
113. The impact of shareholding structure on firm investment: Evidence from Chinese listed companies
     Pacific-Basin Finance Journal, 2013, 25, (C), 85-100 View citations (10)

2012

114. Household Savings, the Stock Market, and Economic Growth in China
     Emerging Markets Finance and Trade, 2012, 48, (2), 44-58 View citations (5)
115. Oil shocks and their impact on energy related stocks in China
     Energy Economics, 2012, 34, (6), 1888-1895 View citations (199)
     See also Working Paper Oil Shocks and their Impact on Energy Related Stocks in China, Surrey Energy Economics Centre (SEEC), School of Economics Discussion Papers (SEEDS) (2012) View citations (203) (2012)

2011

116. Determinants of Chinese and American Outward Investment
     Chinese Economy, 2011, 44, (2), 58-77 View citations (7)

2008

117. Oil shock and economic growth in Japan: A nonlinear approach
     Energy Economics, 2008, 30, (5), 2374-2390 View citations (105)

Edited books

2023

1. The Handbook of Energy Policy
   Springer Books, Springer

Chapters

2023

1. Correction to: The Handbook of Energy Policy
   Springer
2. Energy Market Financialization and Its Policy Implications
   Springer
3. Intermarket Risk Transmission Across Energy, Carbon, and Commodities
   Springer
4. Oil Market Reforms and Pricing Policy Evolution in China
   Springer
5. Policy Dilemmas and Solutions to the Successful Energy Transition
   Springer
6. Resource Misallocation in Electricity Sector: Reform and Policies in China
   Chapter 3 in ELECTRICITY MARKET REFORMS IN THE ASEAN, CHINA, INDIA, AND JAPAN, 2023, pp 63-89

2022

7. Review of the Development of Energy Finance
   Springer

Undated

8. Exuberance in China's Renewable Energy Investment: Rationality, Capital Structure, and Implications with Firm Level Evidence
   Economic Research Institute for ASEAN and East Asia (ERIA) View citations (1)
   See also Journal Article Exuberance in China's renewable energy investment: Rationality, capital structure and implications with firm level evidence, Elsevier (2016) View citations (58) (2016)