Analyzing the interplay between eco-friendly and Islamic digital currencies and green investments

Mahdi Ghaemi Asl, Sami Ben Jabeur () and Younes Ben Zaied
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Sami Ben Jabeur: UR CONFLUENCE : Sciences et Humanités (EA 1598) - UCLy - UCLy (Lyon Catholic University), ESDES - ESDES, Lyon Business School - UCLy - UCLy - UCLy (Lyon Catholic University)

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Abstract: This study aimed to provide a comprehensive understanding of the interplay between digital innovations and sustainable investments, specifically regarding their roles in promoting economic resilience and sustainability in the energy sector. To this end, the present study examined the possible consequences of the widespread use of energy-intensive crypto-asset technologies, focusing on those that rely heavily on non-renewable energy sources. The analytical results demonstrated that the interconnectedness between cryptocurrency-based digital innovations and sustainable investments was most pronounced in bull markets characterized by high returns and upper tails, except for the Dash Green market. Bitcoin and Stellar exhibited the strongest connections with eco-friendly financial ventures across various market states, indicating their robust interplay with sustainable portfolios. The total connectedness index using an Elman neural network revealed that higher non-linear dynamic information was associated with green-synthesized cryptocurrency-driven innovations, compared with other digital innovations. This study contributes to scholarly understanding of the interconnectedness between cryptocurrency-based digital innovations and sustainable investments by elucidating their dynamics under different market conditions. These findings underscore the need for further analysis to fully comprehend the intricate relationship between these assets, particularly across different quantile levels, as well as to inform sound investment decisions in sustainable finance.

Keywords: Data analytics; Eco-friendly; Green investment; Islamic digital currency (search for similar items in EconPapers)
Date: 2024-11
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Published in Technological Forecasting and Social Change, 2024, 208, pp.123715. ⟨10.1016/j.techfore.2024.123715⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05238463

DOI: 10.1016/j.techfore.2024.123715

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