When war moves oil : Energy dependence and global equity responses to the 2026 Iran conflict

Almenn færsla
dc.contributor.authorKaczmarek, Tomasz
dc.contributor.authorDemir, Ender
dc.contributor.authorRouatbi, Wael
dc.contributor.authorZaremba, Adam
dc.contributor.departmentDepartment of Business and Economics
dc.date.accessioned2026-10-02T13:35:01Z
dc.date.available2026-10-02T13:35:01Z
dc.date.issued2026-07-27
dc.descriptionPublisher Copyright: © 2026 The Author(s).en
dc.description.abstractWe provide, to the best of our knowledge, the first systematic cross-country analysis of global equity market reactions to the U.S.-Israeli military operation against Iran on February 28, 2026, using daily returns from 67 countries. Stock prices declined materially, signaling a repricing of geopolitical risk. Cross-country heterogeneity reflects energy exposure: fuel exporters experienced smaller losses, while importers suffered larger declines. Nuclear capacity was associated with smaller losses, consistent with diversification benefits. Standard macroeconomic and geopolitical variables have limited explanatory power. Overall, the results suggest that energy markets are a central transmission channel for geopolitical shocks and point to the role of energy independence in financial resilience.en
dc.description.versionPeer revieweden
dc.format.extent1316684
dc.format.extent
dc.identifier.citationKaczmarek, T, Demir, E, Rouatbi, W & Zaremba, A 2026, 'When war moves oil : Energy dependence and global equity responses to the 2026 Iran conflict', Finance Research Letters, vol. 110, 110577. https://doi.org/10.1016/j.frl.2026.110577en
dc.identifier.doi10.1016/j.frl.2026.110577
dc.identifier.issn1544-6123
dc.identifier.other251048337
dc.identifier.other8e0d9a3d-96b6-43c0-a5bc-0ec679da3e22
dc.identifier.other105050151093
dc.identifier.otherunpaywall: 10.1016/j.frl.2026.110577
dc.identifier.urihttps://hdl.handle.net/20.500.11815/8528
dc.language.isoen
dc.relation.ispartofseriesFinance Research Letters; 110()en
dc.relation.urlhttps://www.scopus.com/pages/publications/105050151093en
dc.rightsinfo:eu-repo/semantics/openAccessen
dc.subjectEnergy pricesen
dc.subjectEvent studyen
dc.subjectGeopolitical risken
dc.subjectGlobal equity marketsen
dc.subjectInternational financeen
dc.subjectIranen
dc.subjectMilitary conflicten
dc.subjectWaren
dc.subjectFinanceen
dc.titleWhen war moves oil : Energy dependence and global equity responses to the 2026 Iran conflicten
dc.type/dk/atira/pure/researchoutput/researchoutputtypes/contributiontojournal/articleen

Skrár

Original bundle

Niðurstöður 1 - 1 af 1
Nafn:
1-s2.0-S1544612326011050-main.pdf
Stærð:
1.26 MB
Snið:
Adobe Portable Document Format
Hlaða niður

Undirflokkur

Háskólinn í Reykjavík

Öll gögn í Opnum vísindum eru vernduð af ákvæðum höfundalaga og með öllum réttindum áskildum, nema annað sé tekið fram.