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Asymmetric impacts of coal prices, fintech, and financial stress on clean energy stocks

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  • Liu, Yongtuan
  • Wang, Kewei

Abstract

The emergence of fintech has revolutionized financial systems, alleviating financial stress through innovative solutions and diversification. This shift towards clean energy stocks has reduced demand for coal, impacting coal prices significantly and highlighting the pressing need to preserve mineral resources for sustainable, cleaner energy alternatives. Therefore, the study examines the interconnectedness between coal price, fintech, financial stress, and green energy stock using quantile-based regression. The findings reveal that the impact of coal price, fintech, and financial stress on the clean energy stock is heterogeneous across all levels of quantiles. Specifically, the findings indicate that variations in the coal price positively influence the clean energy stock index, yet this association displays asymmetry across quantiles. Fluctuations in the fintech index contribute to the susceptibility of renewable energy stock prices. The financial stress index exhibits a consistently adverse influence on clean energy stock across quantiles ranging from lower to higher orders. The study findings would guide stock market investors, ecological activists, and policymakers at administrative levels aiming to promote clean energy investment while controlling for the adverse outcomes from financial stress.

Suggested Citation

  • Liu, Yongtuan & Wang, Kewei, 2024. "Asymmetric impacts of coal prices, fintech, and financial stress on clean energy stocks," Resources Policy, Elsevier, vol. 92(C).
    • Handle: RePEc:eee:jrpoli:v:92:y:2024:i:c:s0301420724003210
    DOI: 10.1016/j.resourpol.2024.104954
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