Table 1. Main literature relating oil... | Emerald Publishing

Table 1.

Main literature relating oil prices and economic aspects

Literature findings	Authors
Supply-demand imbalances with storage effect to explain crude quotations	Killian and Lee (2014), Kilian and Murphy (2014), Hamilton (2009a, 2009b), Kilian (2009), Kilian and Park (2009), Krugman (2008), Kaldor (1939), Working (1949)
Negative correlation between oil prices-stock market returns	Filis and Chatziantoniou (2014), Asteriou and Bashmakova (2013), Ciner (2013), Lee and Chiou (2011), Laopodis (2011), Filis (2010), Chen (2010), Miller and Ratti (2009), Driesprong et al. (2008), O’Neill et al. (2008)
Oil prices do not affect stock returns	Al Janabi et al. (2010), Jammazi and Aloui (2010), Apergis and Miller (2009), Cong et al. (2008), Henriques and Sadorsky (2008)
Recent efficiency analysis of oil prices	Arshad et al. (2021)
Positive relationship between oil prices and oil and gas industry	Broadstock et al. (2014), Scholtens and Yurtsever (2012), Arouri (2012), Broadstock et al. (2012), Ramos and Veiga (2011)
Positive relationship between oil prices and mining industry	Nandha and Faff (2008)
Negative relationship between oil prices and other industries (chemical, computer, food, etc.)	Narayan and Sharma (2011), Nandha and Brooks (2009)
Negative medium-sized effect between increases in oil prices and stock returns	Sadorsky (2008)
Heterogeneous firm size effect	Narayan and Sharma (2011) and Mohanty et al. (2013)
Bi-directional firm-size effect in the pre- and post-2008 financial crisis	Tsai (2015)
Positive relationship between oil prices trends and producers’ oil stock markets returns/opposite relationship for consumers’ oil stock market returns	Phan et al. (2015)
Oil price trends and stock returns for oil exp and imp countries	Wang et al. (2013), Mendoza and Vera (2010) and Korhonen and Ledyaeva (2010)
Not-related oil price trends and stock returns for Gulf corporation council countries	Al Janabi et al. (2010)

Literature findings	Authors
Supply-demand imbalances with storage effect to explain crude quotations	Killian and Lee (2014), Kilian and Murphy (2014), Hamilton (2009a, 2009b), Kilian (2009), Kilian and Park (2009), Krugman (2008), Kaldor (1939), Working (1949)
Negative correlation between oil prices-stock market returns	Filis and Chatziantoniou (2014), Asteriou and Bashmakova (2013), Ciner (2013), Lee and Chiou (2011), Laopodis (2011), Filis (2010), Chen (2010), Miller and Ratti (2009), Driesprong et al. (2008), O’Neill et al. (2008)
Oil prices do not affect stock returns	Al Janabi et al. (2010), Jammazi and Aloui (2010), Apergis and Miller (2009), Cong et al. (2008), Henriques and Sadorsky (2008)
Recent efficiency analysis of oil prices	Arshad et al. (2021)
Positive relationship between oil prices and oil and gas industry	Broadstock et al. (2014), Scholtens and Yurtsever (2012), Arouri (2012), Broadstock et al. (2012), Ramos and Veiga (2011)
Positive relationship between oil prices and mining industry	Nandha and Faff (2008)
Negative relationship between oil prices and other industries (chemical, computer, food, etc.)	Narayan and Sharma (2011), Nandha and Brooks (2009)
Negative medium-sized effect between increases in oil prices and stock returns	Sadorsky (2008)
Heterogeneous firm size effect	Narayan and Sharma (2011) and Mohanty et al. (2013)
Bi-directional firm-size effect in the pre- and post-2008 financial crisis	Tsai (2015)
Positive relationship between oil prices trends and producers’ oil stock markets returns/opposite relationship for consumers’ oil stock market returns	Phan et al. (2015)
Oil price trends and stock returns for oil exp and imp countries	Wang et al. (2013), Mendoza and Vera (2010) and Korhonen and Ledyaeva (2010)
Not-related oil price trends and stock returns for Gulf corporation council countries	Al Janabi et al. (2010)

Note:

This Table summarizes the literature that analyzes the most relevant economic and industrial aspects that influence and contribute to the mechanism of oil prices formation