Table 2. Main literature investigating... | Emerald Publishing

Table 2.

Main literature investigating financial interrelations between stock markets and crude quotations

Literature findings	Authors
European stock markets are not respondent to crude quotation changes while different are responses on behalf of the US Stock market	Park and Ratti (2008)
Asian stock market responses to crude quotation changes are asymmetric	Batten et al. (2019), Broadstock et al. (2014)
Asymmetric responses of stock movement on oil price changes (higher magnitude of negative performance with oil price increases)	Jiménez-Rodríguez and Sánchez (2005)
Asymmetric responses of stock movement on oil price changes (higher magnitude of positive performance with oil price decreases)	Nandha and Faff (2008), Bachmeier (2008)
Stabilizing effect of speculation on financial markets	Batten et al. (2021), Miffre and Brooks (2013), Stoll and Whaley (2010), Irwin et al. (2009)
Increased market volatility because of “herding behaviors” of speculators and in general to the augmented participation of non-commercials with a lesser degree of regulation	Henderson et al. (2015), Koch (2014),Gilbert (2010), Rahi and Zigrand (2009), Teo (2009), Engle and Rangel (2008), Gabaix et al. (2006), Dennis and Strickland (2002), Nofsinger and Sias (1999)
Financial markets act a conduit in transmitting shocks to commodity spot prices	Basak and Pavlova (2016)
Increased risk spillovers and like-equity generated effects	Adams and Glück (2015), Creti et al. (2013), Du et al. (2011), Kaltalioglu and Soytas (2011), Boyson et al. (2010), Chang et al. (2010), Chong and Miffre (2010), Brunnermeier and Pedersen (2009), Park and Ratti (2008), Baffes (2007), Farooq and Hammoudeh (2007), Hammoudeh et al. (2004)
Financial markets do not act a conduit in transmitting shocks to commodity spot prices	Irwin and Sanders (2012)

Literature findings	Authors
European stock markets are not respondent to crude quotation changes while different are responses on behalf of the US Stock market	Park and Ratti (2008)
Asian stock market responses to crude quotation changes are asymmetric	Batten et al. (2019), Broadstock et al. (2014)
Asymmetric responses of stock movement on oil price changes (higher magnitude of negative performance with oil price increases)	Jiménez-Rodríguez and Sánchez (2005)
Asymmetric responses of stock movement on oil price changes (higher magnitude of positive performance with oil price decreases)	Nandha and Faff (2008), Bachmeier (2008)
Stabilizing effect of speculation on financial markets	Batten et al. (2021), Miffre and Brooks (2013), Stoll and Whaley (2010), Irwin et al. (2009)
Increased market volatility because of “herding behaviors” of speculators and in general to the augmented participation of non-commercials with a lesser degree of regulation	Henderson et al. (2015), Koch (2014),Gilbert (2010), Rahi and Zigrand (2009), Teo (2009), Engle and Rangel (2008), Gabaix et al. (2006), Dennis and Strickland (2002), Nofsinger and Sias (1999)
Financial markets act a conduit in transmitting shocks to commodity spot prices	Basak and Pavlova (2016)
Increased risk spillovers and like-equity generated effects	Adams and Glück (2015), Creti et al. (2013), Du et al. (2011), Kaltalioglu and Soytas (2011), Boyson et al. (2010), Chang et al. (2010), Chong and Miffre (2010), Brunnermeier and Pedersen (2009), Park and Ratti (2008), Baffes (2007), Farooq and Hammoudeh (2007), Hammoudeh et al. (2004)
Financial markets do not act a conduit in transmitting shocks to commodity spot prices	Irwin and Sanders (2012)

Note:

This Table resumes the literature that analyzes the main financial dynamics and interrelations affecting oil prices