Oil price risk exposure of BRIC stock markets and hedging effectiveness

We study the tail dependence between crude oil and BRIC stock markets using a time-varying optimal copula (TVOC) approach. We show evidence of multiple tail dependence regimes, suggesting that simple static or dynamic copula specifications do not fully characterize the extreme dependence between oil...

Full description

Saved in:

Bibliographic Details
Published in:	Annals of operations research Vol. 313; no. 1; pp. 145 - 170
Main Authors:	Shahzad, Syed Jawad Hussain, Bouri, Elie, Rehman, Mobeen Ur, Naeem, Muhammad Abubakr, Saeed, Tareq
Format:	Journal Article
Language:	English
Published:	New York Springer US 01.06.2022 Springer Springer Nature B.V
Subjects:	Analysis Business and Management Combinatorics Crude oil Crude oil prices Diversification Emerging markets Equity Exports Hedging Hedging (Finance) Influence Institutional investments Methods Operations research Operations Research/Decision Theory Original Research Petroleum Portfolio management Prices and rates Risk (Economics) Risk exposure Securities markets Stock exchanges Stock markets Theory of Computation Brazil China India Russia Q43 Crude oil BRIC G11 Hedging Diversification Time-varying optimal copula Q41
ISSN:	0254-5330, 1572-9338
Online Access:	Get full text
Tags:	Add Tag No Tags, Be the first to tag this record!

Abstract	We study the tail dependence between crude oil and BRIC stock markets using a time-varying optimal copula (TVOC) approach. We show evidence of multiple tail dependence regimes, suggesting that simple static or dynamic copula specifications do not fully characterize the extreme dependence between oil and BRIC stock markets. The identified combinations of asymmetric and extreme positive lower tail dependence justify the application of the TVOC. Interestingly, the positive lower tail dependence between oil and stock markets and risk spillover from oil is higher for Brazil and Russia (oil exporters) than India and China (oil importers). Finally, we assess the effectiveness of hedging and measure the conditional diversification benefits of investing in oil for BRIC stock indices. Notably, the Chinese and Indian equity markets offer higher conditional diversification benefits when combined with oil in an equally weighted portfolio.
AbstractList	We study the tail dependence between crude oil and BRIC stock markets using a time-varying optimal copula (TVOC) approach. We show evidence of multiple tail dependence regimes, suggesting that simple static or dynamic copula specifications do not fully characterize the extreme dependence between oil and BRIC stock markets. The identified combinations of asymmetric and extreme positive lower tail dependence justify the application of the TVOC. Interestingly, the positive lower tail dependence between oil and stock markets and risk spillover from oil is higher for Brazil and Russia (oil exporters) than India and China (oil importers). Finally, we assess the effectiveness of hedging and measure the conditional diversification benefits of investing in oil for BRIC stock indices. Notably, the Chinese and Indian equity markets offer higher conditional diversification benefits when combined with oil in an equally weighted portfolio.
Audience	Academic
Author	Shahzad, Syed Jawad Hussain Rehman, Mobeen Ur Bouri, Elie Saeed, Tareq Naeem, Muhammad Abubakr
Author_xml	– sequence: 1 givenname: Syed Jawad Hussain orcidid: 0000-0003-3511-6057 surname: Shahzad fullname: Shahzad, Syed Jawad Hussain email: j.syed@montpellier-bs.com organization: Montpellier Business School, University of Montpellier, Montpellier Research in Management, South Ural State University – sequence: 2 givenname: Elie surname: Bouri fullname: Bouri, Elie organization: Adnan Kassar School of Business, Lebanese American University – sequence: 3 givenname: Mobeen Ur surname: Rehman fullname: Rehman, Mobeen Ur organization: South Ural State University – sequence: 4 givenname: Muhammad Abubakr surname: Naeem fullname: Naeem, Muhammad Abubakr organization: UCD College of Business, University College Dublin – sequence: 5 givenname: Tareq surname: Saeed fullname: Saeed, Tareq organization: Nonlinear Analysis and Applied Mathematics (NAAM)-Research Group, Department of Mathematics, Faculty of Science, King Abdulaziz University
BookMark	eNp9kU1r3DAQhkVJoJuPP9CToNc6HVmWJR_TpU0DgUBpzkKWR46yu_JWY5f231fpFtKUEnQYEM8zI817wo7SlJCxNwIuBIB-TwIa3VVQiwoa0KaCV2wllK6rTkpzxFZQq6ZSUsJrdkL0AABCGLViV7dxy_c5euQ50objj_1ES0Y-Bf7hy_Wa0zz5Dd-5vMGZuEsDv8dhjGnkGAL6OX7HhERn7Di4LeH5n3rK7j59_Lr-XN3cXl2vL28qL5WcK9_LxrjWDaFVUqm2vEIZjaIPfRPqfmg7HWqNXokmKG2ElE3rB6Mc9KbB4OUpe3vou8_TtwVptg_TklMZaetWKyMBVPdEjW6LNqYwzdn5XSRvLzVoMKrt6kJd_IcqZ8Bd9GXBIZb7Z8K7v4R-ofj49ZgojvczjW4heo6bA-7zRJQxWB9nN8cplTlxawXYx_DsITxbwrO_w7NQ1PoftWRUQvj5siQPEhU4jZifdvOC9QvL1qts
CitedBy_id	crossref_primary_10_1007_s10479_021_04402_8 crossref_primary_10_1080_03796205_2024_2361698 crossref_primary_10_37625_abr_27_2_372_400 crossref_primary_10_1016_j_ribaf_2024_102456 crossref_primary_10_3389_fphy_2023_1292418 crossref_primary_10_1016_j_energy_2023_127045 crossref_primary_10_1016_j_inteco_2024_100570 crossref_primary_10_1007_s10479_022_04723_2 crossref_primary_10_1155_2022_1030567 crossref_primary_10_1016_j_najef_2025_102459 crossref_primary_10_1111_issj_12320 crossref_primary_10_1515_peps_2021_0021 crossref_primary_10_32609_j_ruje_10_126926 crossref_primary_10_1016_j_najef_2023_101967 crossref_primary_10_1016_j_resourpol_2023_103487 crossref_primary_10_5547_01956574_44_2_mkar crossref_primary_10_1007_s11424_024_3224_y crossref_primary_10_1080_10242694_2025_2475248 crossref_primary_10_1177_01956574251340012 crossref_primary_10_1016_j_resourpol_2023_104241 crossref_primary_10_1007_s12197_025_09733_x crossref_primary_10_1080_13504851_2024_2402944 crossref_primary_10_1016_j_eswa_2023_121785 crossref_primary_10_1007_s11356_022_23114_5 crossref_primary_10_1016_j_irfa_2023_102772 crossref_primary_10_1080_00036846_2023_2287552
Cites_doi	10.1016/j.eneco.2018.07.011 10.1016/j.iref.2020.03.004 10.1016/j.eneco.2015.11.022 10.2307/2331164 10.1016/j.eneco.2015.12.027 10.1016/j.iref.2016.11.004 10.1080/1540496X.2018.1522247 10.3390/en13174354 10.1016/j.eneco.2019.06.007 10.1016/j.eneco.2019.104589 10.1016/j.iref.2013.05.015 10.1093/rof/rfx034 10.1016/j.eneco.2019.08.003 10.1016/j.jmva.2012.02.021 10.1016/j.ememar.2017.10.003 10.1016/j.jbankfin.2016.11.017 10.1016/j.eneco.2020.104940 10.1016/j.eneco.2021.105166 10.1016/j.irfa.2020.101526 10.1016/j.irfa.2018.02.001 10.1080/14697688.2016.1205208 10.1016/j.eneco.2018.09.014 10.1016/j.eneco.2018.03.031 10.1002/jae.3950060202 10.1016/j.eneco.2019.07.014 10.1257/aer.20120555 10.1093/rfs/hhg058 10.5547/01956574.37.SI1.dbro 10.1016/j.qref.2017.11.010 10.1016/j.irfa.2018.08.002 10.1016/j.irfa.2020.101516 10.1016/j.eneco.2017.01.026 10.1016/j.eneco.2017.09.007 10.1016/j.iref.2013.06.005 10.1016/j.resourpol.2016.06.011 10.1016/j.iref.2015.03.007 10.1007/s40888-016-0022-6 10.2139/ssrn.1297183 10.5547/01956574.39.5.sdeg 10.2307/2527081 10.1016/j.eneco.2020.104781 10.1016/j.eneco.2012.06.021 10.1016/j.intfin.2014.09.007 10.1111/j.1468-2354.2006.00387.x 10.3934/QFE.2018.4.884 10.3934/QFE.2019.4.754 10.1016/j.econmod.2019.06.002 10.1016/j.frl.2018.02.022 10.1086/261140 10.1016/j.iref.2017.03.007
ContentType	Journal Article
Copyright	The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2021 COPYRIGHT 2022 Springer The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2021.
Copyright_xml	– notice: The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2021 – notice: COPYRIGHT 2022 Springer – notice: The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2021.
DBID	AAYXX CITATION N95 3V. 7TA 7TB 7WY 7WZ 7XB 87Z 88I 8AL 8AO 8FD 8FE 8FG 8FK 8FL ABJCF ABUWG AFKRA ARAPS AZQEC BENPR BEZIV BGLVJ CCPQU DWQXO FR3 FRNLG F~G GNUQQ HCIFZ JG9 JQ2 K60 K6~ K7- KR7 L.- L6V M0C M0N M2P M7S P5Z P62 PHGZM PHGZT PKEHL PQBIZ PQBZA PQEST PQGLB PQQKQ PQUKI PRINS PTHSS Q9U
DOI	10.1007/s10479-021-04078-0
DatabaseName	CrossRef Gale Business: Insights ProQuest Central (Corporate) Materials Business File Mechanical & Transportation Engineering Abstracts ABI/INFORM Collection ABI/INFORM Global (PDF only) ProQuest Central (purchase pre-March 2016) ABI/INFORM Collection Science Database (Alumni Edition) Computing Database (Alumni Edition) ProQuest Pharma Collection Technology Research Database ProQuest SciTech Collection ProQuest Technology Collection ProQuest Central (Alumni) (purchase pre-March 2016) ABI/INFORM Collection (Alumni) Materials Science & Engineering Collection ProQuest Central (Alumni) ProQuest Central UK/Ireland Advanced Technologies & Computer Science Collection ProQuest Central Essentials ProQuest Central Business Premium Collection Technology collection ProQuest One Community College ProQuest Central Engineering Research Database Business Premium Collection (Alumni) ABI/INFORM Global (Corporate) ProQuest Central Student SciTech Premium Collection Materials Research Database ProQuest Computer Science Collection ProQuest Business Collection (Alumni Edition) ProQuest Business Collection Computer Science Database Civil Engineering Abstracts ABI/INFORM Professional Advanced ProQuest Engineering Collection ABI/INFORM Global Computing Database Science Database Engineering Database Advanced Technologies & Aerospace Database ProQuest Advanced Technologies & Aerospace Collection ProQuest Central Premium ProQuest One Academic ProQuest One Academic Middle East (New) ProQuest One Business (UW System Shared) ProQuest One Business (Alumni) ProQuest One Academic Eastern Edition (DO NOT USE) ProQuest One Applied & Life Sciences ProQuest One Academic (retired) ProQuest One Academic UKI Edition ProQuest Central China Engineering Collection ProQuest Central Basic
DatabaseTitle	CrossRef Materials Research Database ProQuest Business Collection (Alumni Edition) Computer Science Database ProQuest Central Student ProQuest Advanced Technologies & Aerospace Collection ProQuest Central Essentials ProQuest Computer Science Collection SciTech Premium Collection ProQuest Central China ABI/INFORM Complete Materials Business File ProQuest One Applied & Life Sciences ProQuest Central (New) Engineering Collection Advanced Technologies & Aerospace Collection Business Premium Collection ABI/INFORM Global Engineering Database ProQuest Science Journals (Alumni Edition) ProQuest One Academic Eastern Edition ProQuest Technology Collection ProQuest Business Collection ProQuest One Academic UKI Edition Engineering Research Database ProQuest One Academic ProQuest One Academic (New) ABI/INFORM Global (Corporate) ProQuest One Business Technology Collection Technology Research Database ProQuest One Academic Middle East (New) Mechanical & Transportation Engineering Abstracts ProQuest Central (Alumni Edition) ProQuest One Community College ProQuest Pharma Collection ProQuest Central ABI/INFORM Professional Advanced ProQuest Engineering Collection ProQuest Central Korea ABI/INFORM Complete (Alumni Edition) Civil Engineering Abstracts ProQuest Computing ABI/INFORM Global (Alumni Edition) ProQuest Central Basic ProQuest Science Journals ProQuest Computing (Alumni Edition) ProQuest SciTech Collection Advanced Technologies & Aerospace Database Materials Science & Engineering Collection ProQuest One Business (Alumni) ProQuest Central (Alumni) Business Premium Collection (Alumni)
DatabaseTitleList	Materials Research Database
Database_xml	– sequence: 1 dbid: BENPR name: ProQuest Central url: https://www.proquest.com/central sourceTypes: Aggregation Database
DeliveryMethod	fulltext_linktorsrc
Discipline	Engineering Computer Science Business
EISSN	1572-9338
EndPage	170
ExternalDocumentID	A707085692 10_1007_s10479_021_04078_0
GeographicLocations	Brazil China India Russia
GeographicLocations_xml	– name: China – name: Russia – name: India – name: Brazil
GroupedDBID	-4X -57 -5G -BR -EM -Y2 -~C -~X .4S .86 .DC .VR 06D 0R~ 0VY 1N0 1SB 2.D 203 23M 28- 2J2 2JN 2JY 2KG 2KM 2LR 2P1 2VQ 2~H 30V 3V. 4.4 406 408 409 40D 40E 5GY 5QI 5VS 67Z 6NX 7WY 88I 8AO 8FE 8FG 8FL 8TC 8VB 95- 95. 95~ 96X AAAVM AABHQ AACDK AAHNG AAIAL AAJBT AAJKR AANZL AARHV AARTL AASML AATNV AATVU AAUYE AAWCG AAYIU AAYQN AAYTO AAYZH ABAKF ABBBX ABBXA ABDZT ABECU ABFTV ABHLI ABHQN ABJCF ABJNI ABJOX ABKCH ABKTR ABMNI ABMQK ABNWP ABQBU ABQSL ABSXP ABTEG ABTHY ABTKH ABTMW ABULA ABUWG ABWNU ABXPI ACAOD ACBXY ACDTI ACGFS ACGOD ACHSB ACHXU ACIWK ACKNC ACMDZ ACMLO ACOKC ACOMO ACPIV ACZOJ ADHHG ADHIR ADIMF ADINQ ADKNI ADKPE ADRFC ADTPH ADURQ ADYFF ADZKW AEBTG AEFIE AEFQL AEGAL AEGNC AEJHL AEJRE AEKMD AEMSY AENEX AEOHA AEPYU AESKC AETLH AEVLU AEXYK AFBBN AFEXP AFGCZ AFKRA AFLOW AFQWF AFWTZ AFZKB AGAYW AGDGC AGGDS AGJBK AGMZJ AGQEE AGQMX AGRTI AGWIL AGWZB AGYKE AHAVH AHBYD AHKAY AHQJS AHSBF AHYZX AIAKS AIGIU AIIXL AILAN AITGF AJBLW AJRNO AJZVZ AKVCP ALMA_UNASSIGNED_HOLDINGS ALWAN AMKLP AMXSW AMYLF AMYQR AOCGG ARAPS ARCSS ARMRJ ASPBG AVWKF AXYYD AYQZM AZFZN AZQEC B-. BA0 BAPOH BBWZM BDATZ BENPR BEZIV BGLVJ BGNMA BPHCQ BSONS CAG CCPQU COF CS3 CSCUP DDRTE DL5 DNIVK DPUIP DWQXO EBLON EBO EBS EBU EDO EIOEI EJD ESBYG FEDTE FERAY FFXSO FIGPU FINBP FNLPD FRNLG FRRFC FSGXE FWDCC GGCAI GGRSB GJIRD GNUQQ GNWQR GQ6 GQ7 GQ8 GROUPED_ABI_INFORM_COMPLETE GROUPED_ABI_INFORM_RESEARCH GXS H13 HCIFZ HF~ HG5 HG6 HMJXF HQYDN HRMNR HVGLF HZ~ I-F I09 IAO IEA IHE IJ- IKXTQ ITC ITM IWAJR IXC IZIGR IZQ I~X I~Z J-C J0Z JBSCW JCJTX JZLTJ K1G K60 K6V K6~ K7- KDC KOV KOW L6V LAK LLZTM M0C M0N M2P M4Y M7S MA- N2Q N95 N9A NB0 NDZJH NPVJJ NQJWS NU0 O9- O93 O9G O9I O9J OAM OVD P19 P2P P62 P9M PF0 PQBIZ PQBZA PQQKQ PROAC PT4 PT5 PTHSS Q2X QOK QOS QWB R4E R89 R9I RHV RNI RNS ROL RPX RSV RZC RZD RZK S16 S1Z S26 S27 S28 S3B SAP SBE SCF SCLPG SDH SDM SHX SISQX SJYHP SNE SNPRN SNX SOHCF SOJ SPISZ SRMVM SSLCW STPWE SZN T13 T16 TEORI TH9 TSG TSK TSV TUC TUS U2A UG4 UOJIU UTJUX UZXMN VC2 VFIZW W23 W48 WK8 YLTOR Z45 Z5O Z7R Z7S Z7U Z7V Z7W Z7X Z7Y Z7Z Z81 Z83 Z88 Z8N Z8U Z92 ZL0 ZMTXR ZYFGU ~8M ~A9 ~EX AAPKM AAYXX ABBRH ABDBE ABFSG ABRTQ ACSTC ADHKG ADKFA AEZWR AFDZB AFFHD AFHIU AFOHR AGQPQ AHPBZ AHWEU AIXLP AMVHM ATHPR AYFIA CITATION ICD PHGZM PHGZT PQGLB 7TA 7TB 7XB 8AL 8FD 8FK FR3 JG9 JQ2 KR7 L.- PKEHL PQEST PQUKI PRINS Q9U
ID	FETCH-LOGICAL-c353t-cb348a6adf653556011587e1bfb4f2bd697f27ec514f57813346cd85a0b84efc3
IEDL.DBID	RSV
ISICitedReferencesCount	42
ISICitedReferencesURI	http://www.webofscience.com/api/gateway?GWVersion=2&SrcApp=Summon&SrcAuth=ProQuest&DestLinkType=CitingArticles&DestApp=WOS_CPL&KeyUT=000642038000005&url=https%3A%2F%2Fcvtisr.summon.serialssolutions.com%2F%23%21%2Fsearch%3Fho%3Df%26include.ft.matches%3Dt%26l%3Dnull%26q%3D
ISSN	0254-5330
IngestDate	Wed Nov 05 14:59:48 EST 2025 Sat Nov 29 14:02:11 EST 2025 Sat Nov 29 10:36:06 EST 2025 Sat Nov 29 09:28:27 EST 2025 Sat Nov 29 02:36:43 EST 2025 Tue Nov 18 22:07:49 EST 2025 Fri Feb 21 02:49:04 EST 2025
IsPeerReviewed	true
IsScholarly	true
Issue	1
Keywords	Q43 Crude oil BRIC G11 Hedging Diversification Time-varying optimal copula Q41
Language	English
LinkModel	DirectLink
MergedId	FETCHMERGED-LOGICAL-c353t-cb348a6adf653556011587e1bfb4f2bd697f27ec514f57813346cd85a0b84efc3
Notes	ObjectType-Article-1 SourceType-Scholarly Journals-1 ObjectType-Feature-2 content type line 14
ORCID	0000-0003-3511-6057
PQID	2675830059
PQPubID	25585
PageCount	26
ParticipantIDs	proquest_journals_2675830059 gale_infotracmisc_A707085692 gale_infotracacademiconefile_A707085692 gale_businessinsightsgauss_A707085692 crossref_citationtrail_10_1007_s10479_021_04078_0 crossref_primary_10_1007_s10479_021_04078_0 springer_journals_10_1007_s10479_021_04078_0
PublicationCentury	2000
PublicationDate	20220600 2022-06-00 20220601
PublicationDateYYYYMMDD	2022-06-01
PublicationDate_xml	– month: 6 year: 2022 text: 20220600
PublicationDecade	2020
PublicationPlace	New York
PublicationPlace_xml	– name: New York
PublicationTitle	Annals of operations research
PublicationTitleAbbrev	Ann Oper Res
PublicationYear	2022
Publisher	Springer US Springer Springer Nature B.V
Publisher_xml	– name: Springer US – name: Springer – name: Springer Nature B.V
References	Li, Wei (CR29) 2018; 74 Fang, Egan (CR19) 2018; 68 Tiwari, Jena, Mitra, Yoon (CR46) 2018; 72 Mensi, Hammoudeh, Shahzad, Shahbaz (CR36) 2017; 75 Bildirici, Badur (CR5) 2018; 2 Bouri, Demirer (CR7) 2016; 33 CR33 Patton (CR40) 2012; 110 You, Guo, Zhu, Tang (CR51) 2017; 68 Adrian, Brunnermeier (CR1) 2016; 106 Jammazi, Ferrer, Jareño, Shahzad (CR23) 2017; 49 Boubaker, Raza (CR6) 2017; 64 Christoffersen, Jacobs, Jin, Langlois (CR14) 2018; 22 Shahzad, Mensi, Hammoudeh, Rehman, Al-Yahyaee (CR44) 2018; 34 Broadstock, Fan, Ji, Zhang (CR10) 2016; 37 Ji, Zhang, Zhao (CR26) 2020; 71 Cheema, Scrimgeour (CR12) 2019; 83 CR4 Zhu, Guo, You, Xu (CR53) 2016; 55 Kroner, Sultan (CR28) 1993; 28 Reboredo, Ugolini (CR43) 2015; 29 Dogah, Premaratne (CR17) 2018; 76 Raza, Shahzad, Tiwari, Shahbaz (CR42) 2016; 49 Bouri, Lien, Roubaud, Shahzad (CR9) 2018; 27 Wen, Wei, Huang (CR49) 2012; 34 Tiwari, Trabelsi, Alqahtani, Hammoudeh (CR47) 2019; 83 Hansen (CR22) 1994; 35 Sheng, Gupta, Ji (CR45) 2020; 91 Zhu, Li, Li (CR52) 2014; 29 CR16 CR15 Liu, Naeem, Rehman, Farid, Shahzad (CR32) 2020; 13 CR54 Poon, Rockinger, Tawn (CR41) 2004; 17 Nazlioglu, Gupta, Bouri (CR35) 2020; 68 Basher, Sadorsky (CR3) 2016; 54 Wang, Ma, Niu, He (CR48) 2020; 86 Hamilton (CR21) 1983; 91 Patton (CR39) 2006; 47 Baillie, Myers (CR2) 1991; 6 Ji, Bouri, Roubaud (CR25) 2018; 57 Liu, Luo, Li (CR31) 2019; 3 Naeem, Balli, Shahzad, de Bruin (CR37) 2020; 85 Ma, Zhang, Ji (CR34) 2021; 96 CR24 Broadstock, Filis (CR11) 2014; 33 CR20 Joe, Xu (CR27) 1996 Fang, You (CR18) 2014; 29 Naeem, Hasan, Arif, Balli, Shahzad (CR38) 2020 Bouri, Chen, Lien, Lv (CR8) 2017; 48 Wen, Bouri, Cheng (CR50) 2019; 55 Liu, Ji, Fan (CR30) 2017; 17 Chen, Lv (CR13) 2015; 39 C Liu (4078_CR32) 2020; 13 S Nazlioglu (4078_CR35) 2020; 68 4078_CR16 4078_CR15 BE Hansen (4078_CR22) 1994; 35 H Boubaker (4078_CR6) 2017; 64 JD Hamilton (4078_CR21) 1983; 91 4078_CR54 MA Naeem (4078_CR37) 2020; 85 W Mensi (4078_CR36) 2017; 75 SA Basher (4078_CR3) 2016; 54 N Raza (4078_CR42) 2016; 49 AK Tiwari (4078_CR47) 2019; 83 KF Kroner (4078_CR28) 1993; 28 K Liu (4078_CR31) 2019; 3 Q Ji (4078_CR26) 2020; 71 ME Bildirici (4078_CR5) 2018; 2 Q Chen (4078_CR13) 2015; 39 AJ Patton (4078_CR39) 2006; 47 E Bouri (4078_CR9) 2018; 27 S-H Poon (4078_CR41) 2004; 17 H Zhu (4078_CR53) 2016; 55 L Wang (4078_CR48) 2020; 86 RT Baillie (4078_CR2) 1991; 6 H Joe (4078_CR27) 1996 MA Cheema (4078_CR12) 2019; 83 X Wen (4078_CR49) 2012; 34 4078_CR4 SJH Shahzad (4078_CR44) 2018; 34 MA Naeem (4078_CR38) 2020 R Jammazi (4078_CR23) 2017; 49 4078_CR33 Q Ji (4078_CR25) 2018; 57 X Li (4078_CR29) 2018; 74 DC Broadstock (4078_CR11) 2014; 33 E Bouri (4078_CR8) 2017; 48 S Fang (4078_CR19) 2018; 68 KE Dogah (4078_CR17) 2018; 76 B Liu (4078_CR30) 2017; 17 Y Ma (4078_CR34) 2021; 96 X Sheng (4078_CR45) 2020; 91 T Adrian (4078_CR1) 2016; 106 CR Fang (4078_CR18) 2014; 29 AJ Patton (4078_CR40) 2012; 110 HM Zhu (4078_CR52) 2014; 29 DC Broadstock (4078_CR10) 2016; 37 P Christoffersen (4078_CR14) 2018; 22 4078_CR24 4078_CR20 X Wen (4078_CR50) 2019; 55 W You (4078_CR51) 2017; 68 E Bouri (4078_CR7) 2016; 33 AK Tiwari (4078_CR46) 2018; 72 JC Reboredo (4078_CR43) 2015; 29
References_xml	– volume: 48 start-page: 34 year: 2017 end-page: 48 ident: CR8 article-title: Causality between oil prices and the stock market in China: The relevance of the reformed oil product pricing mechanism publication-title: International Review of Economics & Finance – volume: 57 start-page: 1 year: 2018 end-page: 12 ident: CR25 article-title: Dynamic network of implied volatility transmission among US equities, strategic commodities, and BRICS equities publication-title: International Review of Financial Analysis – volume: 74 start-page: 565 year: 2018 end-page: 581 ident: CR29 article-title: The dependence and risk spillover between crude oil market and China stock market: New evidence from a variational mode decomposition-based copula method publication-title: Energy Economics – volume: 33 start-page: 63 issue: 1 year: 2016 end-page: 82 ident: CR7 article-title: On the volatility transmission between global oil and stock markets: A comparison of emerging importers and exporters publication-title: Economia Politica – volume: 85 start-page: 104589 year: 2020 ident: CR37 article-title: Energy commodity uncertainties and the systematic risk of US industries publication-title: Energy Economics – volume: 68 start-page: 1 year: 2017 end-page: 18 ident: CR51 article-title: Oil price shocks, economic policy uncertainty and industry stock returns in China: Asymmetric effects with quantile regression publication-title: Energy Economics – start-page: 124235 year: 2020 ident: CR38 publication-title: Time and frequency domain quantile coherence of emerging stock markets with gold and oil prices – ident: CR4 – ident: CR16 – ident: CR54 – volume: 35 start-page: 705 year: 1994 end-page: 730 ident: CR22 article-title: Autoregressive conditional density estimation publication-title: International Economic Review – year: 1996 ident: CR27 publication-title: The estimation method of inference functions for the margins for multivariate models. Technical Report 166 – volume: 110 start-page: 4 year: 2012 end-page: 18 ident: CR40 article-title: A review of copula models for economic time series publication-title: Journal of Multivariate Analysis – volume: 13 start-page: 4354 issue: 17 year: 2020 ident: CR32 article-title: Oil as hedge, safe-haven, and diversifier for conventional currencies publication-title: Energies – ident: CR15 – volume: 27 start-page: 65 year: 2018 end-page: 79 ident: CR9 article-title: Directional predictability of implied volatility: From crude oil to developed and emerging stock markets publication-title: Finance Research Letters – volume: 75 start-page: 258 year: 2017 end-page: 279 ident: CR36 article-title: Modeling systemic risk and dependence structure between oil and stock markets using a variational mode decomposition-based copula method publication-title: Journal of Banking & Finance – volume: 55 start-page: 30 year: 2016 end-page: 41 ident: CR53 article-title: The heterogeneity dependence between crude oil price changes and industry stock market returns in China: Evidence from a quantile regression approach publication-title: Energy Economics – volume: 49 start-page: 290 year: 2016 end-page: 301 ident: CR42 article-title: Asymmetric impact of gold, oil prices and their volatilities on stock prices of emerging markets publication-title: Resources Policy – volume: 54 start-page: 235 year: 2016 end-page: 247 ident: CR3 article-title: Hedging emerging market stock prices with oil, gold, VIX, and bonds: A comparison between DCC, ADCC and GO-GARCH publication-title: Energy Economics – volume: 64 start-page: 105 year: 2017 end-page: 117 ident: CR6 article-title: A wavelet analysis of mean and volatility spillovers between oil and BRICS stock markets publication-title: Energy Economics – volume: 33 start-page: 417 year: 2014 end-page: 433 ident: CR11 article-title: Oil price shocks and stock market returns: New evidence from the United States and China publication-title: Journal of International Financial Markets, Institutions and Money – volume: 49 start-page: 453 year: 2017 end-page: 483 ident: CR23 article-title: Time-varying causality between crude oil and stock markets: What can we learn from a multiscale perspective? publication-title: International Review of Economics & Finance – volume: 2 start-page: 884 year: 2018 end-page: 903 ident: CR5 article-title: The effects of oil prices on confidence and stock return in China, India and Russia publication-title: Quantitative Finance and Economics – volume: 17 start-page: 581 issue: 2 year: 2004 end-page: 610 ident: CR41 article-title: Extreme value dependence in financial markets: Diagnostics, models, and financial implications publication-title: Review of Financial Studies – volume: 6 start-page: 109 issue: 2 year: 1991 end-page: 124 ident: CR2 article-title: Bivariate GARCH estimation of the optimal commodity futures hedge publication-title: Journal of Applied Econometrics – volume: 22 start-page: 521 issue: 2 year: 2018 end-page: 560 ident: CR14 article-title: Dynamic dependence and diversification in corporate credit publication-title: Review of Finance – volume: 71 start-page: 101526 year: 2020 ident: CR26 article-title: Searching for safe-haven assets during the COVID-19 pandemic publication-title: International Review of Financial Analysis – volume: 91 start-page: 228 issue: 2 year: 1983 end-page: 248 ident: CR21 article-title: Oil and the macroeconomy since World War II publication-title: Journal of Political Economy – volume: 29 start-page: 743 year: 2015 end-page: 759 ident: CR43 article-title: Systemic risk in European sovereign debt markets: A CoVaR-copula approach publication-title: Journal of International Money and Finance – volume: 68 start-page: 31 year: 2018 end-page: 38 ident: CR19 article-title: Measuring contagion effects between crude oil and Chinese stock market sectors publication-title: The Quarterly Review of Economics and Finance – ident: CR33 – volume: 37 start-page: 55 issue: 1 year: 2016 end-page: 86 ident: CR10 article-title: Shocks and stocks: A bottom-up assessment of the relationship between oil prices, gasoline prices and the returns of Chinese firms publication-title: The Energy Journal – volume: 68 start-page: 47 year: 2020 end-page: 58 ident: CR35 article-title: Movements in international bond markets: The role of oil prices publication-title: International Review of Economics and Finance – volume: 29 start-page: 330 year: 2014 end-page: 338 ident: CR18 article-title: The impact of oil price shocks on the large emerging countries' stock prices: Evidence from China, India and Russia publication-title: International Review of Economics and Finance – volume: 86 start-page: 54 year: 2020 end-page: 68 ident: CR48 article-title: Crude oil and BRICS stock markets under extreme shocks: New evidence publication-title: Economic Modelling – volume: 83 start-page: 578 year: 2019 end-page: 587 ident: CR12 article-title: Oil prices and stock market anomalies publication-title: Energy Economics – volume: 3 start-page: 754 issue: 4 year: 2019 ident: CR31 article-title: Investigating the risk spillover from crude oil market to BRICS stock markets based on Copula-POT-CoVaR models publication-title: Quantitative Finance and Economics – volume: 72 start-page: 120 year: 2018 end-page: 134 ident: CR46 article-title: Impact of oil price risk on sectoral equity markets: Implications on portfolio management publication-title: Energy Economics – volume: 96 start-page: 105166 year: 2021 ident: CR34 article-title: Do oil shocks affect Chinese bank risk? publication-title: Energy Economics – volume: 106 start-page: 1705 issue: 7 year: 2016 end-page: 1741 ident: CR1 article-title: CoVaR publication-title: The American Economic Review – volume: 76 start-page: 228 year: 2018 end-page: 256 ident: CR17 article-title: Sectoral exposure of financial markets to oil risk factors in BRICS countries publication-title: Energy Economics – volume: 29 start-page: 208 year: 2014 end-page: 223 ident: CR52 article-title: Modelling dynamic dependence between crude oil prices and Asia-Pacific stock market returns publication-title: International Review of Economics & Finance – volume: 55 start-page: 2254 issue: 10 year: 2019 end-page: 2274 ident: CR50 article-title: The Crude oil–stock market dependence and its determinants: Evidence from emerging economies publication-title: Emerging Markets Finance and Trade – volume: 39 start-page: 121 year: 2015 end-page: 132 ident: CR13 article-title: The extreme-value dependence between the crude oil price and Chinese stock markets publication-title: International Review of Economics and Finance – volume: 83 start-page: 445 year: 2019 end-page: 466 ident: CR47 article-title: Analysing systemic risk and time-frequency quantile dependence between crude oil prices and BRICS equity markets indices: A new look publication-title: Energy Economics – volume: 28 start-page: 535 issue: 4 year: 1993 end-page: 551 ident: CR28 article-title: Time-varying distributions and dynamic hedging with foreign currency futures publication-title: Journal of Financial and Quantitative Analysis – volume: 17 start-page: 437 issue: 3 year: 2017 end-page: 453 ident: CR30 article-title: A new time-varying optimal copula model identifying the dependence across markets publication-title: Quantitative Finance – volume: 34 start-page: 42 year: 2018 end-page: 63 ident: CR44 article-title: Extreme dependence and risk spillovers between oil and Islamic stock markets publication-title: Emerging Markets Review – volume: 91 start-page: 104940 year: 2020 ident: CR45 article-title: The impacts of structural oil shocks on macroeconomic uncertainty: Evidence from a large panel of 45 countries publication-title: Energy Economics – ident: CR24 – volume: 47 start-page: 527 year: 2006 end-page: 556 ident: CR39 article-title: Modelling asymmetric exchange rate dependence publication-title: International Economic Review – volume: 34 start-page: 1435 year: 2012 end-page: 1446 ident: CR49 article-title: Measuring contagion between energy market and stock market during financial crisis: A copula approach publication-title: Energy Economics – ident: CR20 – volume: 74 start-page: 565 year: 2018 ident: 4078_CR29 publication-title: Energy Economics doi: 10.1016/j.eneco.2018.07.011 – volume: 68 start-page: 47 year: 2020 ident: 4078_CR35 publication-title: International Review of Economics and Finance doi: 10.1016/j.iref.2020.03.004 – volume: 54 start-page: 235 year: 2016 ident: 4078_CR3 publication-title: Energy Economics doi: 10.1016/j.eneco.2015.11.022 – volume: 28 start-page: 535 issue: 4 year: 1993 ident: 4078_CR28 publication-title: Journal of Financial and Quantitative Analysis doi: 10.2307/2331164 – volume: 55 start-page: 30 year: 2016 ident: 4078_CR53 publication-title: Energy Economics doi: 10.1016/j.eneco.2015.12.027 – volume: 48 start-page: 34 year: 2017 ident: 4078_CR8 publication-title: International Review of Economics & Finance doi: 10.1016/j.iref.2016.11.004 – volume: 55 start-page: 2254 issue: 10 year: 2019 ident: 4078_CR50 publication-title: Emerging Markets Finance and Trade doi: 10.1080/1540496X.2018.1522247 – volume: 13 start-page: 4354 issue: 17 year: 2020 ident: 4078_CR32 publication-title: Energies doi: 10.3390/en13174354 – ident: 4078_CR4 doi: 10.1016/j.eneco.2019.06.007 – volume: 85 start-page: 104589 year: 2020 ident: 4078_CR37 publication-title: Energy Economics doi: 10.1016/j.eneco.2019.104589 – volume: 29 start-page: 208 year: 2014 ident: 4078_CR52 publication-title: International Review of Economics & Finance doi: 10.1016/j.iref.2013.05.015 – volume: 22 start-page: 521 issue: 2 year: 2018 ident: 4078_CR14 publication-title: Review of Finance doi: 10.1093/rof/rfx034 – volume: 83 start-page: 578 year: 2019 ident: 4078_CR12 publication-title: Energy Economics doi: 10.1016/j.eneco.2019.08.003 – volume: 110 start-page: 4 year: 2012 ident: 4078_CR40 publication-title: Journal of Multivariate Analysis doi: 10.1016/j.jmva.2012.02.021 – volume: 34 start-page: 42 year: 2018 ident: 4078_CR44 publication-title: Emerging Markets Review doi: 10.1016/j.ememar.2017.10.003 – volume: 75 start-page: 258 year: 2017 ident: 4078_CR36 publication-title: Journal of Banking & Finance doi: 10.1016/j.jbankfin.2016.11.017 – volume: 91 start-page: 104940 year: 2020 ident: 4078_CR45 publication-title: Energy Economics doi: 10.1016/j.eneco.2020.104940 – volume: 96 start-page: 105166 year: 2021 ident: 4078_CR34 publication-title: Energy Economics doi: 10.1016/j.eneco.2021.105166 – volume: 71 start-page: 101526 year: 2020 ident: 4078_CR26 publication-title: International Review of Financial Analysis doi: 10.1016/j.irfa.2020.101526 – volume: 57 start-page: 1 year: 2018 ident: 4078_CR25 publication-title: International Review of Financial Analysis doi: 10.1016/j.irfa.2018.02.001 – volume: 29 start-page: 743 year: 2015 ident: 4078_CR43 publication-title: Journal of International Money and Finance – volume: 17 start-page: 437 issue: 3 year: 2017 ident: 4078_CR30 publication-title: Quantitative Finance doi: 10.1080/14697688.2016.1205208 – volume: 76 start-page: 228 year: 2018 ident: 4078_CR17 publication-title: Energy Economics doi: 10.1016/j.eneco.2018.09.014 – volume-title: The estimation method of inference functions for the margins for multivariate models. Technical Report 166 year: 1996 ident: 4078_CR27 – volume: 72 start-page: 120 year: 2018 ident: 4078_CR46 publication-title: Energy Economics doi: 10.1016/j.eneco.2018.03.031 – volume: 6 start-page: 109 issue: 2 year: 1991 ident: 4078_CR2 publication-title: Journal of Applied Econometrics doi: 10.1002/jae.3950060202 – volume: 83 start-page: 445 year: 2019 ident: 4078_CR47 publication-title: Energy Economics doi: 10.1016/j.eneco.2019.07.014 – volume: 106 start-page: 1705 issue: 7 year: 2016 ident: 4078_CR1 publication-title: The American Economic Review doi: 10.1257/aer.20120555 – volume: 17 start-page: 581 issue: 2 year: 2004 ident: 4078_CR41 publication-title: Review of Financial Studies doi: 10.1093/rfs/hhg058 – volume: 37 start-page: 55 issue: 1 year: 2016 ident: 4078_CR10 publication-title: The Energy Journal doi: 10.5547/01956574.37.SI1.dbro – volume: 68 start-page: 31 year: 2018 ident: 4078_CR19 publication-title: The Quarterly Review of Economics and Finance doi: 10.1016/j.qref.2017.11.010 – ident: 4078_CR24 doi: 10.1016/j.irfa.2018.08.002 – ident: 4078_CR54 doi: 10.1016/j.irfa.2020.101516 – volume: 64 start-page: 105 year: 2017 ident: 4078_CR6 publication-title: Energy Economics doi: 10.1016/j.eneco.2017.01.026 – ident: 4078_CR20 – volume: 68 start-page: 1 year: 2017 ident: 4078_CR51 publication-title: Energy Economics doi: 10.1016/j.eneco.2017.09.007 – volume: 29 start-page: 330 year: 2014 ident: 4078_CR18 publication-title: International Review of Economics and Finance doi: 10.1016/j.iref.2013.06.005 – volume: 49 start-page: 290 year: 2016 ident: 4078_CR42 publication-title: Resources Policy doi: 10.1016/j.resourpol.2016.06.011 – volume: 39 start-page: 121 year: 2015 ident: 4078_CR13 publication-title: International Review of Economics and Finance doi: 10.1016/j.iref.2015.03.007 – volume: 33 start-page: 63 issue: 1 year: 2016 ident: 4078_CR7 publication-title: Economia Politica doi: 10.1007/s40888-016-0022-6 – ident: 4078_CR15 doi: 10.2139/ssrn.1297183 – ident: 4078_CR16 doi: 10.5547/01956574.39.5.sdeg – volume: 35 start-page: 705 year: 1994 ident: 4078_CR22 publication-title: International Economic Review doi: 10.2307/2527081 – ident: 4078_CR33 doi: 10.1016/j.eneco.2020.104781 – start-page: 124235 volume-title: Time and frequency domain quantile coherence of emerging stock markets with gold and oil prices year: 2020 ident: 4078_CR38 – volume: 34 start-page: 1435 year: 2012 ident: 4078_CR49 publication-title: Energy Economics doi: 10.1016/j.eneco.2012.06.021 – volume: 33 start-page: 417 year: 2014 ident: 4078_CR11 publication-title: Journal of International Financial Markets, Institutions and Money doi: 10.1016/j.intfin.2014.09.007 – volume: 47 start-page: 527 year: 2006 ident: 4078_CR39 publication-title: International Economic Review doi: 10.1111/j.1468-2354.2006.00387.x – volume: 2 start-page: 884 year: 2018 ident: 4078_CR5 publication-title: Quantitative Finance and Economics doi: 10.3934/QFE.2018.4.884 – volume: 3 start-page: 754 issue: 4 year: 2019 ident: 4078_CR31 publication-title: Quantitative Finance and Economics doi: 10.3934/QFE.2019.4.754 – volume: 86 start-page: 54 year: 2020 ident: 4078_CR48 publication-title: Economic Modelling doi: 10.1016/j.econmod.2019.06.002 – volume: 27 start-page: 65 year: 2018 ident: 4078_CR9 publication-title: Finance Research Letters doi: 10.1016/j.frl.2018.02.022 – volume: 91 start-page: 228 issue: 2 year: 1983 ident: 4078_CR21 publication-title: Journal of Political Economy doi: 10.1086/261140 – volume: 49 start-page: 453 year: 2017 ident: 4078_CR23 publication-title: International Review of Economics & Finance doi: 10.1016/j.iref.2017.03.007
SSID	ssj0001185
Score	2.5172493
Snippet	We study the tail dependence between crude oil and BRIC stock markets using a time-varying optimal copula (TVOC) approach. We show evidence of multiple tail...
SourceID	proquest gale crossref springer
SourceType	Aggregation Database Enrichment Source Index Database Publisher
StartPage	145
SubjectTerms	Analysis Business and Management Combinatorics Crude oil Crude oil prices Diversification Emerging markets Equity Exports Hedging Hedging (Finance) Influence Institutional investments Methods Operations research Operations Research/Decision Theory Original Research Petroleum Portfolio management Prices and rates Risk (Economics) Risk exposure Securities markets Stock exchanges Stock markets Theory of Computation
SummonAdditionalLinks	– databaseName: Computer Science Database dbid: K7- link: http://cvtisr.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwpV3NTxQxFH9RNEYOoivEBTQ9aDxow7Qz03ZOBImo0aAxarg10y8g4u7CLIQ_n75uh3U1cvEyl76ZafM--uvr-wB4bhkTVvpAlREtrYyvaVtYR5ljEW1XoShTLsyPT3J_Xx0cNF-yw63LYZW9TUyG2o0t-si3OCJbrK3ebE9OKXaNwtvV3ELjNtxhnDOU84-SXlviCJ5TCGP8KcUoypw0k1PnKtlQDFAo8CqLFgsb05_m-a970rT97K3878QfwoMMPMnOTFIewS0_GsC9Pu59ACt9fweS1X0Ay78VK3wM7z4fn5AJ1iAiGI9O_OVkjO5FMg7kzdcPuyTCSPuT_Epp1B1pR44ceYc9kMgsaCTb1VX4vvf22-57mtswUFvW5ZRaU1aqFa0Loo7oRCCIVNIzE0wVuHGikYFLbyP0ClH_46G3Etapui2Mqnyw5RosjcYj_wRIyZUXQtWyiccYVRolTCNchGTcsyIoOQTW80DbXKMcW2Wc6Hl1ZeSbjnzTiW-6GMKr63cmswodN1K_QNbq3OIzPjp0gnSH7XnX6R0ZLaCqRcOH8DLRoZrHGdg2ZyvEdWDBrAXKzQXKqJ52cbgXC53NQ6fnMjGE171gzYf_Pf31m7-2Afc5pmckL9EmLE3Pzv1TuGsvpsfd2bOkHFdt5RAS priority: 102 providerName: ProQuest
Title	Oil price risk exposure of BRIC stock markets and hedging effectiveness
URI	https://link.springer.com/article/10.1007/s10479-021-04078-0 https://www.proquest.com/docview/2675830059
Volume	313
WOSCitedRecordID	wos000642038000005&url=https%3A%2F%2Fcvtisr.summon.serialssolutions.com%2F%23%21%2Fsearch%3Fho%3Df%26include.ft.matches%3Dt%26l%3Dnull%26q%3D
hasFullText	1
inHoldings	1
isFullTextHit
isPrint
journalDatabaseRights	– providerCode: PRVAVX databaseName: Springer LINK customDbUrl: eissn: 1572-9338 dateEnd: 99991231 omitProxy: false ssIdentifier: ssj0001185 issn: 0254-5330 databaseCode: RSV dateStart: 19970101 isFulltext: true titleUrlDefault: https://link.springer.com/search?facet-content-type=%22Journal%22 providerName: Springer Nature
link	http://cvtisr.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwnV3db9MwED_BhhA8MCggCqPyA4gHsJRP23ncqg0QUKoOxtiLFTs2TIy2WjrEn8-d62wrXxK8nBT5kjiO7_w7-z4AHtk0FVY6z5URNS-MK3md2IanTYpou_BJHmJh9l_L0UgdHFTjGBTWdt7u3ZFk0NQXgt0KWXFyKUjo8Imjob6Oy50icZzs7Z_pX4TMwXERX8XJdzKGyvz-GSvL0c9K-ZfT0bDo7G78X3dvwo0IMtnWclbcgktu2oOrnY97Dza6Wg4sinYPrl9ITHgbnr89OmZzyjfEyPecue_zGW0lspln25OXQ4aQ0X5hX0PIdMvqacM-u4bqHbGlg0jUoXfg_e7Ou-ELHksucJuX-YJbkxeqFnXjRYlIRBBgVNKlxpvCZ6YRlfSZdBZhlkdZRwO3ELZRZZ0YVThv87uwNp1N3T1geaacEKqUFZosKjdKmEo0CL8ylyZeyT6k3chrG_ORU1mMY32eSZmGUOMQ6jCEOunD07N75stsHH_lfkw_VMdynkha2vBoP9Wnbau3JGo7VYoq68OTwEcijT2wdYxMwO-g5FgrnJsrnCiKdrW5mzo6qoJWZ2SSUVGAqg_Puqly3vzn7t__N_YHcC2j0IywQ7QJa4uTU_cQrthvi6P2ZACX5YePA1jf3hmNJ3j1SnKkb5Ih0WxMVO4hHZeHgyBOPwAZFg2J
linkProvider	Springer Nature
linkToHtml	http://cvtisr.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMw1V1Lb9QwEB6VgngcKCxFLBTwgYoDWE2cxHEOCJWF0lWXBaEW9WYSP6Ci7C7Nlsef4jcyk3W6LIjeeuCSix0rjj_PfB7PA-CBiWNpcue5qmTJ08plvIyM5bGNkW2nPkqaWJh3g3w4VPv7xZsl-NnGwpBbZSsTG0Ftx4Zs5BuCmC3lVi-eTr5wqhpFt6ttCY0ZLHbcj294ZKuf9J_j-q4LsfVit7fNQ1UBbpIsmXJTJakqZWm9zFDZSuJEKndx5avUi8rKIvcidwaZhEc44xkulcaqrIwqlTpvEhz3HJxPU9wO5CoY9U4kP5L1xmUSJ8nJazME6YRQvTQvODlERHR1xqMFRfinOvjrXrZRd1sr_9uPugZXA7Fmm7OdcB2W3KgDF1u__g6stPUrWBBnHbjyWzLGG_Dy9cEhm1COJUb-9sx9n4zJfMrGnj172-8xpMnmE_vchInXrBxZ9tFZqvHEZk4xQW-swt6ZzPMmLI_GI3cLWCKUk1JleYHHNJVUSlaFtEg5hYsjr_IuxO2aaxNysFMpkEM9zx5NONGIE93gREddeHTyzmSWgeTU3usEJR1KmOKjJiNP_aE8rmu9maOEV5ksRBceNv1IjOEXmDJEY-A8KCHYQs-1hZ4ofsxicwtDHcRfrecY7MLjFsjz5n9__u3TR7sPl7Z3Xw30oD_cuQOXBYWiNBaxNVieHh27u3DBfJ0e1Ef3mo3J4P1ZA_wXvzBs6w
linkToPdf	http://cvtisr.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMw1V1Lb9QwEB6VgqpyoLCAWCjgAxUHsJo4ie0cECotC6utlgoB6s1NHLtUlN2l2fL4a_w6ZrJOlwXRWw9ccrFjxfHnmc_jeQA8snEsrXKe61IWPC1dxovIVjyuYmTbqY-SJhbmw64aDvX-fr63BD_bWBhyq2xlYiOoq7ElG_mmIGZLudXzTR_cIvZ2es8nXzhVkKKb1racxgwiA_fjGx7f6mf9HVzrDSF6L99tv-ahwgC3SZZMuS2TVBeyqLzMUPFK4kdaubj0ZepFWclceaGcRVbhEdp4nkulrXRWRKVOnbcJjnsJLqMWzmiPDRQ_0wJI3Bv3SZwwJw_OELATwvZSlXNyjojoGo1HC0rxT9Xw1x1to_p6a__zT7sO1wLhZluzHXIDltyoAyutv38H1tq6FiyIuQ5c_S1J40149ebomE0o9xIjP3zmvk_GZFZlY89evO1vM6TP9hP73ISP16wYVeyjq6j2E5s5ywR9cgveX8g8b8PyaDxyd4AlQjspdaZyPL7ppNSyzGWFVFS4OPJadSFu19_YkJudSoQcm3lWacKMQcyYBjMm6sKTs3cms8wk5_beIFiZUNoUHzUZf-rD4rSuzZZCya8zmYsuPG76kXjDL7BFiNLAeVCisIWe6ws9USzZxeYWkiaIxdrM8diFpy2o583__vy754_2EFYQ12a3Pxzcg1VBESqNoWwdlqcnp-4-XLFfp0f1yYNmjzI4uGh8_wINnHWR
openUrl	ctx_ver=Z39.88-2004&ctx_enc=info%3Aofi%2Fenc%3AUTF-8&rfr_id=info%3Asid%2Fsummon.serialssolutions.com&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Oil+price+risk+exposure+of+BRIC+stock+markets+and+hedging+effectiveness&rft.jtitle=Annals+of+operations+research&rft.au=Shahzad%2C+Syed+Jawad+Hussain&rft.au=Bouri%2C+Elie&rft.au=Rehman%2C+Mobeen+Ur&rft.au=Naeem%2C+Muhammad+Abubakr&rft.date=2022-06-01&rft.pub=Springer+US&rft.issn=0254-5330&rft.eissn=1572-9338&rft.volume=313&rft.issue=1&rft.spage=145&rft.epage=170&rft_id=info:doi/10.1007%2Fs10479-021-04078-0&rft.externalDocID=10_1007_s10479_021_04078_0
thumbnail_l	http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/lc.gif&issn=0254-5330&client=summon
thumbnail_m	http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/mc.gif&issn=0254-5330&client=summon
thumbnail_s	http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/sc.gif&issn=0254-5330&client=summon