The impact of the Russia–Ukraine conflict on the energy subsector stocks in China: A network-based approach

Xiaoyun Xing, Zihan Xu, Ying Chen, WenPei Ouyang, Jing Deng and Huanxue Pan

Finance Research Letters, 2023, vol. 53, issue C

Abstract: This paper explores the impact of the Russia–Ukraine conflict on the risk transmission of energy subsector stocks in China. Risk spillovers are quantified by the Diebold and Yilmaz index model. Based on the minimum spanning tree analysis, we identify the systematically important energy stocks and the shortest transmission paths. The results show that the key energy stocks in terms of volatility correlations would certainly change during the Russia–Ukraine conflict. In normal times, the traditional stocks act as the hubs of risk contagion. However, during the conflict, several renewable energy stocks tend to influence other stocks in the system.

Keywords: The Russia–Ukraine conflict; Energy stock market; Risk transmission; Network analysis (search for similar items in EconPapers)
JEL-codes: C32 C61 D85 G10 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:53:y:2023:i:c:s1544612323000193

DOI: 10.1016/j.frl.2023.103645

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