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The oil price-inflation nexus: The exchange rate pass-through effect (2023)
Journal Article
Ding, S., Zheng, D., Cui, T., & Du, M. (2023). The oil price-inflation nexus: The exchange rate pass-through effect. Energy Economics, 125, Article 106828. https://doi.org/10.1016/j.eneco.2023.106828

Crude oil prices have been considered one of the key drivers of inflation worldwide, reaching a peak in 2022. Inflation targeting plays a pivotal role in such a high inflation episode. In this vein, the exchange rate is a key channel in transmitting... Read More about The oil price-inflation nexus: The exchange rate pass-through effect.

Political uncertainty and cross-border equity allocation decisions: international evidence (2023)
Journal Article
Kwabi, F., Boateng, A., Wonu, C., Kariuki, C., & Du, A. (2023). Political uncertainty and cross-border equity allocation decisions: international evidence. International Review of Financial Analysis, 87, Article 102562. https://doi.org/10.1016/j.irfa.2023.102562

Political risk models highlight that political uncertainty matters for corporate investment decisions. However, how political uncertainty matters for investment allocation decisions is relatively under-explored. In this study, we examine the impact o... Read More about Political uncertainty and cross-border equity allocation decisions: international evidence.

Impacts of alternative energy production innovation on reducing CO2 emissions: Evidence from China (2023)
Journal Article
Yang, T., Li, F., Du, M., Huang, M., & Li, Y. (2023). Impacts of alternative energy production innovation on reducing CO2 emissions: Evidence from China. Energy, 268, Article 126684. https://doi.org/10.1016/j.energy.2023.126684

Although environmental economics research explores the impacts of green innovation on reducing CO2 emissions, most studies ignore these effects in emerging economies. This paper examines how alternative energy production innovation (AEPI) reduces CO2... Read More about Impacts of alternative energy production innovation on reducing CO2 emissions: Evidence from China.

Digital Financial Inclusion, Household Financial Participation and Well-Being: Micro-Evidence from China (2022)
Journal Article
Du, Q., Zhou, F., Yang, T., & Du, M. (2023). Digital Financial Inclusion, Household Financial Participation and Well-Being: Micro-Evidence from China. Emerging Markets Finance and Trade, 59(6), https://doi.org/10.1080/1540496x.2022.2153592

Though financial inclusion has drawn a lot of attention lately, especially in emerging markets, it remains unclear how it affects household well-being. This study investigates the connection between digital financial inclusion (DFI) and household wel... Read More about Digital Financial Inclusion, Household Financial Participation and Well-Being: Micro-Evidence from China.

The Development Fit Index of Digital Currency Electronic Payment between China and the One Belt One Road Countries (2022)
Journal Article
Li, F., Yang, T., Du, M., & Huang, M. (2023). The Development Fit Index of Digital Currency Electronic Payment between China and the One Belt One Road Countries. Research in International Business and Finance, 64, Article 101838. https://doi.org/10.1016/j.ribaf.2022.101838

Central bank digital currency is one of the most important financial innovations in the global economy. However, the understanding of its cross-border application is insufficient. This study analyses the driving and supporting factors that affect the... Read More about The Development Fit Index of Digital Currency Electronic Payment between China and the One Belt One Road Countries.

SMEs respond to climate change: Evidence from developing countries (2022)
Journal Article
Alam, A., Du, A. M., Rahman, M., Yazdifar, H., & Abbasi, K. (2022). SMEs respond to climate change: Evidence from developing countries. Technological Forecasting and Social Change, 185, Article 122087. https://doi.org/10.1016/j.techfore.2022.122087

Given the concerns stemming from climate change, it is important to investigate whether SMEs could become innovative (and thereby invest in technologies mitigating climate change) because of heightened climate change risk. This study explores the imp... Read More about SMEs respond to climate change: Evidence from developing countries.

The Impact of Inclusive Finance on Carbon Dioxide Emissions: Evidence from China's Provincial Regions (2022)
Presentation / Conference
Yang, T., Zhou, F., Du, M., & Du, Q. (2022, June). The Impact of Inclusive Finance on Carbon Dioxide Emissions: Evidence from China's Provincial Regions. Paper presented at Financial Economics Meeting (FEM-2022): New challenges post-COVID-19 related to Monetary policy, capital flow and exchange rate frameworks, Paris, France

Previous studies have not paid close attention to the effects of inclusive finance on carbon dioxide emissions. Setting research context in China with its rapid development in inclusive finance and pressing target of carbon dioxide neutrality, this p... Read More about The Impact of Inclusive Finance on Carbon Dioxide Emissions: Evidence from China's Provincial Regions.

Supply chain management based on volatility clustering: The effect of CBDC volatility (2022)
Journal Article
Ding, S., Cui, T., Wu, X., & Du, M. (2022). Supply chain management based on volatility clustering: The effect of CBDC volatility. Research in International Business and Finance, 62, Article 101690. https://doi.org/10.1016/j.ribaf.2022.101690

A Central Bank Digital Currency (CBDC) launched by the Bank of England could enable businesses to directly make electronic payments. It can be argued that digital payment is helpful in supply chain management applications. However, the adoption of CB... Read More about Supply chain management based on volatility clustering: The effect of CBDC volatility.

Impacts of Alternative Energy Production Innovation on Reduction of Carbon Dioxide Emissions: Evidence from China (2022)
Presentation / Conference
Yang, T., Li, Y., & Du, M. (2022, May). Impacts of Alternative Energy Production Innovation on Reduction of Carbon Dioxide Emissions: Evidence from China. Paper presented at The 4th Edition of Ethical Finance and Sustainability Conference (EFS-2022), Paris, France

Though the impacts of green innovation on reduction of carbon dioxide emissions have been an important topic for research on environmental economics, the previous studies ignore heterogeneity of the green innovation and how it might affect the carbon... Read More about Impacts of Alternative Energy Production Innovation on Reduction of Carbon Dioxide Emissions: Evidence from China.

Correlation Among Oil Price, Stock Returns And Country Risks: An Empirical Analysis Based On 31 Countries (2022)
Presentation / Conference
Yang, T., Dong, Q., Du, M., & Du, Q. (2022, May). Correlation Among Oil Price, Stock Returns And Country Risks: An Empirical Analysis Based On 31 Countries. Paper presented at The 4th Edition of Ethical Finance and Sustainability Conference (EFS-2022): Energy Transition and Sustainability, Paris, France

Existing studies have purely paid attention to the relationship between oil price and stock returns or the relationship between oil price and country risks; however, simultaneous correlations among the three are highly neglected. Using monthly panel... Read More about Correlation Among Oil Price, Stock Returns And Country Risks: An Empirical Analysis Based On 31 Countries.

Economic policy uncertainty and cost of capital: the mediating effects of foreign equity portfolio flow (2022)
Journal Article
Obenpong Kwabi, F., Owusu-Manu, S., Boateng, A., Ezeani, E., & Du, M. (2022). Economic policy uncertainty and cost of capital: the mediating effects of foreign equity portfolio flow. Review of Quantitative Finance and Accounting, 59, 457-481. https://doi.org/10.1007/s11156-022-01046-y

We investigate whether economic policy uncertainty and the interaction of foreign equity portfolio flow and economic policy uncertainty impact the cost of capital. Using panel data of 20 countries from 2001 to 2018, we find economic policy uncertaint... Read More about Economic policy uncertainty and cost of capital: the mediating effects of foreign equity portfolio flow.

The role of environmental regulation of the home country in enhancing innovation performance of Chinese EMNEs (2021)
Conference Proceeding
Du, Q., Li, Z., Yang, T., Du, M., & Chen, S. (2021). The role of environmental regulation of the home country in enhancing innovation performance of Chinese EMNEs. In International Congress of Energy, Economy and Security: Proceedings Book (36-56)

EMNEs pursuing for innovation performance via internationalization could be affected by the environmental regulation within a global sustainable development context. Building on the institution-based view, we study how external environmental regulati... Read More about The role of environmental regulation of the home country in enhancing innovation performance of Chinese EMNEs.

Correlation among oil price, stock returns and country risks: an empirical analysis based on 31 countries (2021)
Conference Proceeding
Yang, T., Dong, Q., Du, M., & Du, Q. (2021). Correlation among oil price, stock returns and country risks: an empirical analysis based on 31 countries. In International Congress of Energy, Economy and Security: Proceedings Book (2-23)

Existing studies have purely paid attention to the relationship between oil price and stock returns or the relationship between oil price and country risks; however, simultaneous correlations among the three are highly neglected. Using monthly panel... Read More about Correlation among oil price, stock returns and country risks: an empirical analysis based on 31 countries.

The impact of inclusive finance on carbon dioxide emissions: evidence from China's provincial regions (2021)
Conference Proceeding
Yang, T., Zhou, F., Du, M., & Du, Q. (2021). The impact of inclusive finance on carbon dioxide emissions: evidence from China's provincial regions. In International Congress of Energy, Economy and Security: Proceedings Book (132-152)

Previous studies have not paid close attention to the effects of inclusive finance on carbon dioxide emissions. Setting research context in China with its rapid development in inclusive finance and pressing target of carbon dioxide neutrality, this p... Read More about The impact of inclusive finance on carbon dioxide emissions: evidence from China's provincial regions.

Impacts of alternative energy production innovation on reduction of carbon dioxide emissions: evidence from China (2021)
Conference Proceeding
Yang, T., Li, F., Du, M., & Li, Y. (2021). Impacts of alternative energy production innovation on reduction of carbon dioxide emissions: evidence from China. In International Congress of Energy, Economy and Security: Proceedings Book (90-122)

Though the impacts of green innovation on reduction of carbon dioxide emissions have been an important topic for research on environmental economics, the previous studies ignore heterogeneity of the green innovation and how it might affect the carbon... Read More about Impacts of alternative energy production innovation on reduction of carbon dioxide emissions: evidence from China.

Measuring pollutant emissions of cattle breeding and its spatial-temporal variation in China (2021)
Journal Article
Yang, T., Li, F., Du, M., Wang, Y., & Sun, Z. (2021). Measuring pollutant emissions of cattle breeding and its spatial-temporal variation in China. Journal of Environmental Management, 299, https://doi.org/10.1016/j.jenvman.2021.113615

The rapid development of animal husbandry has resulted in serious pollution issues in the livestock and poultry breeding industry, increasing the cost of environmental management. This issue is particularly prominent in China due to its rapid economi... Read More about Measuring pollutant emissions of cattle breeding and its spatial-temporal variation in China.

Fluctuation in the global oil market, stock market volatility, and economic policy uncertainty: A study of the US and China (2021)
Journal Article
Yang, T., Zhou, F., Du, M., Du, Q., & Zhou, S. (2023). Fluctuation in the global oil market, stock market volatility, and economic policy uncertainty: A study of the US and China. Quarterly Review of Economics and Finance, 87, 377-387. https://doi.org/10.1016/j.qref.2021.08.006

This paper investigates the relationships between the global oil market, stock markets, and economic policy, focusing on China and the US. We use a time-varying parameter stochastic volatility vector autoregression model to examine the transmission m... Read More about Fluctuation in the global oil market, stock market volatility, and economic policy uncertainty: A study of the US and China.

State ownership, prior experience and performance: a comparative analysis of Chinese domestic and cross-border acquisitions (2021)
Journal Article
Du, M., Kwabi, F., & Yang, T. (2021). State ownership, prior experience and performance: a comparative analysis of Chinese domestic and cross-border acquisitions. International Journal of Accounting and Information Management, 29(3), 472-491. https://doi.org/10.1108/ijaim-01-2021-0027

Purpose Drawing on three theoretical frameworks, this paper aims to examine the effects of state-owned enterprises (SOEs) and the interaction between SOEs and prior acquisition experience of Chinese domestic and cross-border acquirers. Design/met... Read More about State ownership, prior experience and performance: a comparative analysis of Chinese domestic and cross-border acquisitions.

The effects of commodity financialization on commodity market volatility (2021)
Journal Article
Ding, S., Cui, T., Zheng, D., & Du, M. (2021). The effects of commodity financialization on commodity market volatility. Resources Policy, 73, https://doi.org/10.1016/j.resourpol.2021.102220

The last two decades have witnessed a massive capital inflow into commodity markets, provoking the commodity financialization episode, which turned into a major stimulus for emerging studies of commodity market prices as financialization can impact o... Read More about The effects of commodity financialization on commodity market volatility.