Assistant Professor Dr. Pitipat Nittayakamolphun, a lecturer in the Department of Economics at Buriram Rajabhat University, Thailand, has published a significant study in the Journal of Risk and Financial Management. Titled Asymmetric Effects of Uncertainty and Commodity Markets on Sustainable Stock in Seven Emerging Markets, the paper investigates how global economic policy uncertainty (EPU), market volatility (VIX), geopolitical risk (GPR), gold prices (GD), and crude oil prices (WTI) affect sustainable stocks in emerging markets. The study spans data from January 2012 to June 2023, encompassing Thailand, Malaysia, Indonesia, Brazil, South Africa, Taiwan, and South Korea markets.
Using the non-linear autoregressive distributed lag (NARDL) model, Dr. Nittayakamolphun uncovers the asymmetric effects of these variables on sustainable stocks. Key findings reveal that EPU increases the return of Thailand’s sustainable stocks in the long run, while GPR affects Indonesia’s stock returns. Conversely, all studied sustainable stocks are negatively impacted by VIX and positively by GD in both the short and long run. Long-run WTI prices negatively influence Indonesia’s sustainable stocks. These results provide critical insights for investors seeking to hedge against uncertainty while incorporating sustainable stocks, gold, and crude oil into their investment strategies.
Dr. Pitipat Nittayakamolphun holds a Ph.D. in Applied Economics from Maejo University, Thailand, and is a recognized expert in economics and financial research. As a lecturer at Buriram Rajabhat University, Dr. Nittayakamolphun combines academic excellence with a deep understanding of global economic trends, focusing on how external uncertainties shape financial markets.
In this study, Dr. Nittayakamolphun emphasizes the importance of understanding non-linear and asymmetric relationships in investment decision-making. By leveraging sustainable stock investments in emerging markets, investors can better navigate the challenges of geopolitical and economic uncertainties. This research adds to the growing body of literature supporting sustainable finance as a vital tool for minimizing risk and achieving long-term investment stability.
For more details, access the complete article in the Journal of Risk and Financial Management.