RELATIONSHIP BETWEEN OIL PRICE AND STOCK MARKETS BEFORE AND AFTER 2014-2015 OIL PRICE COLLAPSE
Notice bibliographique
Résumé
The priming of this thesis investigates the price formation of oil and stock market shares which is followed by the introduction of previous studies. The evidence of the relationship between oil price and stock markets in previous papers are introduced globally and mainly from 21-century. Majority of the previous results indicates that oil price shock affects negatively to stock markets in most of the countries with the exception of oil producer countries or companies examined. However, contrary results with none significant effect occurred also. Reason for the asymmetric results can be that the economy consists of many factors impacting the relationship of oil price and stock markets. These factors are for example changes in wages, interest rates, commodity prices, stock market behavior or changes in technology or even in political situation. Many impacting factors or changes in different commodity prices may offset the changes in energy cost which complex the effect of oil price to the stock markets. \n \nParticularly, this research concentrates on the effect of oil price to stock markets on 2010s separately before and after the 2014 oil price collapse. The thesis investigates whether the relationship between oil and stock market is similar in the 2010s as in the previous literature and whether the price collapse has had any impact on the relationship. \nThe analysis is executed by conducting simpler two independent variable market models and multiple control variable models separately from time before the oil price collapse in 2014-2015 and after it. The research concentrates on important economic and oil regions including United States, Canada, Europe, Norway, China and Russia. \n \nThe results of the research are somewhat in line with the previous literature stating that countries with relatively large oil production industry often tend to have positive relationship between oil price and stock markets. The positive impact was slightly milder after concluding the control variables to the model in effort to make model more reliable. The oil price impact to the stock markets also seemed to be weaker after the oil price collapse, stating that the oil price might be less crucial in lower price levels, exception being Norway. This research does not find any significant negative relationship on oil price and stock markets in any of the regions in 2010s. When examining large economies, the oil price impact on stock markets seemed not to be significant, excluding China´s positive relationship before the oil price collapse.
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Comment cette classification a été obtenuedéplier
Prédiction distillée sur la base complète
Imitation des enseignantsNi prévalence calibrée, ni vérité terrain. Validation humaine à venir. Apprise à partir de 10 348 étiquettes directes de Codex et de 10 348 étiquettes directes de Gemma. Le mode candidate est l'union des têtes enseignantes seuillées; le consensus est leur intersection. Ces sorties portent le statut machine_predicted_unvalidated et ne sont ni des étiquettes humaines ni des étiquettes directes de modèles de pointe.
Scores Codex et Gemma par catégorie
| Catégorie | Codex | Gemma |
|---|---|---|
| Métarecherche | 0,000 | 0,000 |
| Méta-épidémiologie (sens strict) | 0,000 | 0,000 |
| Méta-épidémiologie (sens large) | 0,000 | 0,000 |
| Bibliométrie | 0,000 | 0,000 |
| Études des sciences et des technologies | 0,000 | 0,000 |
| Communication savante | 0,000 | 0,000 |
| Science ouverte | 0,000 | 0,000 |
| Intégrité de la recherche | 0,000 | 0,000 |
| Charge utile insuffisante (le modèle a refusé de juger) | 0,000 | 0,000 |
Scores machine (provisoires)
Les deux têtes enseignantes du modèle étudiant, lues sur ce travail. Un score ordonne la base pour la relecture; il n'affirme jamais une catégorie, et le statut de validation accompagne chaque rangée tel quel.
Scores de référence d'un modèle non mature (critères de maturité non atteints, 7 itérations). Un score ordonne; il n'affirme jamais une catégorie.
score_only:v0-immature-baseline · tel quel depuis la passe de notation : score_only signifie que le nombre peut ordonner les travaux, et qu'aucune étiquette de catégorie n'en découleClassification
machine, non validéePrédiction automatique; un appel candidat d’une seule tête enseignante, pas un consensus.
Le détail, modèle par modèle et score par score, se trouve en fin de page sous « Comment cette classification a été obtenue ».