IMPACT OF GEOPOLITICAL RISK AND CRUDE OIL PRICES ON STOCK RETURN

Chinmaya Behera (), Biswashree Tanaya Priyadarsini () and Debasis Patnaik ()
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Chinmaya Behera: Goa Institute of Management, India
Biswashree Tanaya Priyadarsini: BITS Pilani, India
Debasis Patnaik: BITS Pilani, India

Bulletin of Monetary Economics and Banking, 2024, vol. 27, issue Spesial Issue, 45-58

Abstract: This study examines the impact of oil price and geopolitical risk (GPR) on sectoral stock returns in Australia, Japan, the USA, and India. We find that oil price positively affects pharma and commodity stocks, while GPR benefits commodity stocks, excluding the banking sector in Australia. Further, GPR negatively impacts banking stocks due to increased uncertainty and risk aversion only in the case of the USA. Similarly, GPR adversely affects banking stocks in India that leads capital outflows and economic instability, while oil prices positively influence pharma and commodity stocks.

Keywords: Stock returns; Geopolitical risk; Crude oil (search for similar items in EconPapers)
JEL-codes: E30 G10 G12 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:idn:journl:v:27:y:2024:i:sid:p:45-58

DOI: 10.59091/2460-9196.2158

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