{"id":"https://openalex.org/W2197684349","doi":"https://doi.org/10.1007/s13132-015-0301-4","title":"Stock Market, Interest Rate and Exchange Rate Risk Effects on non Financial Stock Returns During the Financial Crisis","display_name":"Stock Market, Interest Rate and Exchange Rate Risk Effects on non Financial Stock Returns During the Financial Crisis","publication_year":2015,"publication_date":"2015-10-19","ids":{"openalex":"https://openalex.org/W2197684349","doi":"https://doi.org/10.1007/s13132-015-0301-4","mag":"2197684349"},"language":"en","primary_location":{"id":"doi:10.1007/s13132-015-0301-4","doi":"https://doi.org/10.1007/s13132-015-0301-4","is_oa":true,"landing_page_url":"https://doi.org/10.1007/s13132-015-0301-4","pdf_url":"https://link.springer.com/content/pdf/10.1007%2Fs13132-015-0301-4.pdf","source":{"id":"https://openalex.org/S60370010","display_name":"Journal of the Knowledge Economy","issn_l":"1868-7865","issn":["1868-7865","1868-7873"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of the Knowledge Economy","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://link.springer.com/content/pdf/10.1007%2Fs13132-015-0301-4.pdf","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5038613531","display_name":"Mouna Aloui","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I4405255911","display_name":"Faculty of Economics and Management of Sfax","ror":"https://ror.org/03jd7xe26","country_code":"TN","type":"education","lineage":["https://openalex.org/I142899784","https://openalex.org/I4405255911"]}],"countries":["TN"],"is_corresponding":true,"raw_author_name":"Aloui Mouna","raw_affiliation_strings":["Department of Financial and Accounting, University of Faculty Economics and Management of Sfax, Sfax, Tunisia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Financial and Accounting, University of Faculty Economics and Management of Sfax, Sfax, Tunisia","institution_ids":["https://openalex.org/I4405255911"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5016998289","display_name":"Anis Jarboui","orcid":"https://orcid.org/0000-0002-4811-6729","observed_orcids":["https://orcid.org/0000-0002-4811-6729"]},"institutions":[{"id":"https://openalex.org/I142899784","display_name":"University of Sfax","ror":"https://ror.org/04d4sd432","country_code":"TN","type":"education","lineage":["https://openalex.org/I142899784"]}],"countries":["TN"],"is_corresponding":false,"raw_author_name":"Jarboui Anis","raw_affiliation_strings":["Department of Financial and Accounting, Universities Higher Institute of Business Administration of Sfax, Sfax, Tunisia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Financial and Accounting, Universities Higher Institute of Business Administration of Sfax, Sfax, Tunisia","institution_ids":["https://openalex.org/I142899784"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5038613531"],"corresponding_institution_ids":["https://openalex.org/I4405255911"],"apc_list":{"value":3390,"currency":"USD","value_usd":3390},"apc_paid":{"value":3390,"currency":"USD","value_usd":3390},"fwci":0.0,"has_fulltext":true,"cited_by_count":22,"citation_normalized_percentile":{"value":0.14583229,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"8","issue":"3","first_page":"898","last_page":"915"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.5913000106811523,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.5913000106811523,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.3578999936580658,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.03849999979138374,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/financial-crises","display_name":"financial crisis","score":0.7450000047683716},{"id":"https://openalex.org/keywords/foreign-exchange-risk","display_name":"exchange rate risk","score":0.9049999713897705},{"id":"https://openalex.org/keywords/interest-rate-risk","display_name":"interest rate risk","score":0.9810000061988831},{"id":"https://openalex.org/keywords/stock-market-risk","display_name":"stock market risk","score":0.8999999761581421},{"id":"https://openalex.org/keywords/volatility-spillovers","display_name":"volatility spillovers","score":0.9380000233650208},{"id":"https://openalex.org/keywords/technology-industry","display_name":"technology industry","score":0.9089999794960022},{"id":"https://openalex.org/keywords/industry-sectors","display_name":"industry sectors","score":0.8009999990463257},{"id":"https://openalex.org/keywords/european-economy","display_name":"European economy","score":0.6420000195503235},{"id":"https://openalex.org/keywords/china","display_name":"China","score":0.9990000128746033}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6183632612228394},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.5951348543167114},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.5631735920906067},{"id":"https://openalex.org/C2776988154","wikidata":"https://www.wikidata.org/wiki/Q66100","display_name":"Exchange rate","level":2,"score":0.538001298904419},{"id":"https://openalex.org/C175025494","wikidata":"https://www.wikidata.org/wiki/Q179179","display_name":"Interest rate","level":2,"score":0.5045727491378784},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5013940334320068},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.5000836849212646},{"id":"https://openalex.org/C91602232","wikidata":"https://www.wikidata.org/wiki/Q756115","display_name":"Volatility (finance)","level":2,"score":0.46731871366500854},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.4398643672466278},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.3771534860134125},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2039661407470703},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.10724818706512451},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1007/s13132-015-0301-4","doi":"https://doi.org/10.1007/s13132-015-0301-4","is_oa":true,"landing_page_url":"https://doi.org/10.1007/s13132-015-0301-4","pdf_url":"https://link.springer.com/content/pdf/10.1007%2Fs13132-015-0301-4.pdf","source":{"id":"https://openalex.org/S60370010","display_name":"Journal of the Knowledge Economy","issn_l":"1868-7865","issn":["1868-7865","1868-7873"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of the Knowledge Economy","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:spr:jknowl:v:8:y:2017:i:3:d:10.1007_s13132-015-0301-4","doi":null,"is_oa":false,"landing_page_url":"http://link.springer.com/10.1007/s13132-015-0301-4","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"doi:10.1007/s13132-015-0301-4","doi":"https://doi.org/10.1007/s13132-015-0301-4","is_oa":true,"landing_page_url":"https://doi.org/10.1007/s13132-015-0301-4","pdf_url":"https://link.springer.com/content/pdf/10.1007%2Fs13132-015-0301-4.pdf","source":{"id":"https://openalex.org/S60370010","display_name":"Journal of the Knowledge Economy","issn_l":"1868-7865","issn":["1868-7865","1868-7873"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of the Knowledge Economy","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2197684349.pdf","grobid_xml":"https://content.openalex.org/works/W2197684349.grobid-xml"},"referenced_works_count":51,"referenced_works":["https://openalex.org/W105097415","https://openalex.org/W1486952263","https://openalex.org/W1561143803","https://openalex.org/W1583276659","https://openalex.org/W1975163127","https://openalex.org/W1977480757","https://openalex.org/W1986000582","https://openalex.org/W1986831338","https://openalex.org/W1988544648","https://openalex.org/W1996875662","https://openalex.org/W1998606807","https://openalex.org/W1998968611","https://openalex.org/W1999996900","https://openalex.org/W2005305977","https://openalex.org/W2006713535","https://openalex.org/W2015927851","https://openalex.org/W2020509436","https://openalex.org/W2023625293","https://openalex.org/W2026241661","https://openalex.org/W2036776382","https://openalex.org/W2051512012","https://openalex.org/W2053416182","https://openalex.org/W2055392973","https://openalex.org/W2061209222","https://openalex.org/W2064213038","https://openalex.org/W2067966215","https://openalex.org/W2069136567","https://openalex.org/W2072798205","https://openalex.org/W2076560906","https://openalex.org/W2076617513","https://openalex.org/W2086789572","https://openalex.org/W2113039064","https://openalex.org/W2119359568","https://openalex.org/W2120559424","https://openalex.org/W2133167219","https://openalex.org/W2147332443","https://openalex.org/W2152804254","https://openalex.org/W2153539432","https://openalex.org/W2154401967","https://openalex.org/W2252891715","https://openalex.org/W2493997740","https://openalex.org/W2619392360","https://openalex.org/W2891668831","https://openalex.org/W2899564791","https://openalex.org/W3121505779","https://openalex.org/W3121727267","https://openalex.org/W3121778096","https://openalex.org/W3121872286","https://openalex.org/W3123142049","https://openalex.org/W4243177628","https://openalex.org/W4285719527"],"related_works":["https://openalex.org/W2398935526","https://openalex.org/W2223882161","https://openalex.org/W1952769808","https://openalex.org/W2919787575","https://openalex.org/W2160953825","https://openalex.org/W7111240082","https://openalex.org/W7167160825","https://openalex.org/W2112338406","https://openalex.org/W7048162083","https://openalex.org/W7098174208"],"abstract_inverted_index":{"In":[0],"this":[1],"paper,":[2],"we":[3],"examine":[4],"the":[5,13,35,40,47,59,82,96,117,130,142,145],"sensitivity":[6],"of":[7,49,85,106,129],"nonfinancial":[8,23],"sector":[9,119],"stock":[10,60],"returns":[11,115],"to":[12,90,113],"market,":[14],"exchange":[15,66,134],"rate":[16,67,132,135],"risk,":[17,86],"and":[18,26,37,51,65,76,133,140],"interest":[19,63,131],"rates":[20],"in":[21,28,68,95,103,116,120,138,141],"two":[22],"sectors":[24],"(technology":[25],"industry)":[27],"eight":[29],"countries,":[30],"including":[31],"various":[32],"European":[33,121],"economies,":[34,122],"USA":[36],"China,":[38],"over":[39],"period":[41],"2006\u20132009.":[42],"We":[43],"also":[44,126],"test":[45],"for":[46,81],"presence":[48],"causality-in-mean":[50],"volatility":[52,107],"spillovers.":[53],"The":[54],"empirical":[55,100],"results":[56],"show":[57],"that":[58],"market":[61,111],"returns,":[62],"rate,":[64],"most":[69,104],"cases":[70,105],"have":[71],"a":[72,92],"significant":[73],"effect":[74],"(positive":[75],"negative)":[77],"during":[78,144],"crisis.":[79,146],"As":[80],"three":[83],"types":[84],"these":[87],"are":[88,102,125],"found":[89],"play":[91],"role":[93],"mainly":[94],"industry":[97,118],"sector.":[98],"These":[99],"insights":[101],"spillovers":[108],"occurring":[109],"from":[110],"return":[112],"sectoral":[114],"though":[123],"there":[124],"some":[127],"instances":[128],"spillovers,":[136],"both":[137],"Europe":[139],"USA,":[143]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":6},{"year":2023,"cited_by_count":6},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":3},{"year":2020,"cited_by_count":1}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2016-06-24T00:00:00"}