1. Brunel University Research Archive
  2. Brunel Business School *
  3. Department of Economics, Finance and Accounting *
  4. Department of Economics, Finance and Accounting Embargoed Research Papers *
Please use this identifier to cite or link to this item: https://bura.brunel.ac.uk/handle/2438/31387
Full metadata record
DC FieldValueLanguage
dc.contributor.authorAlbanese, Marina-
dc.contributor.authorCaporale, Guglielmo Maria-
dc.contributor.authorColella, Ida-
dc.contributor.authorSpagnolo, Nicola-
dc.contributor.editorCaporale, Guglielmo Maria-
dc.date.accessioned2025-06-04T09:22:49Z-
dc.date.available2025-06-04T09:22:49Z-
dc.date.issued2026-05-07-
dc.identifierORCiD: Guglielmo Maria Caporale https://orcid.org/0000-0002-0144-4135-
dc.identifierORCiD: Nicola Spagnolo https://orcid.org/0000-0002-1663-2104-
dc.identifier.citationAlbanese, M. et al. (2026) 'Climate physical risk and Asian stock market returns', in G.M. Caporale (ed) Handbook of Climate Change and Financial Markets. Cheltenham: Edward Elgar, pp. 58–73. doi: 10.4337/9781035340422.00007.en_GB
dc.identifier.isbn9781035340415-
dc.identifier.isbn9781035340422-
dc.identifier.urihttps://bura.brunel.ac.uk/handle/2438/31387-
dc.descriptionJEL classification: C33, G12, G18.en_GB
dc.description.abstractThis chapter provides new evidence on the impact of climate physical risk (as measured by the Global Climate Risk Index (CRI) from Germanwatch) on stock market returns. Specifically, a panel model with fixed effects is estimated using annual data from 2007 to 2021 for a set of 65 countries, as well as for a subset of 18 Asian countries, which are also divided into two clusters on the basis of their degree of market capitalisation. The results suggest a negative impact of climate physical risk on stock markets; this effect is more pronounced in Asian countries with lower market capitalisation, which are perceived as riskier.en_GB
dc.format.extentpp. 58–73-
dc.format.mediumPrint-Electronic-
dc.language.isoenen_GB
dc.publisherEdward Elgar Publishingen_GB
dc.rightsThis is a draft chapter. The final version is available in Handbook of Climate Change and Financial Markets edited by Guglielmo Maria Caporale, published in 2026, Edward Elgar Publishing Ltd. https://doi.org/10.4337/9781035340422.00011. It is deposited under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (https://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way.-
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/-
dc.subjectclimate changeen_GB
dc.subjectphysical risken_GB
dc.subjectGlobal Climate Risk Indexen_GB
dc.subjectstock marketsen_GB
dc.subjectAsiaen_GB
dc.subjectpanel dataen_GB
dc.subjectfixed effectsen_GB
dc.subject.classificationC33-
dc.subject.classificationG12-
dc.subject.classificationG18-
dc.titleClimate physical risk and Asian stock market returnsen_GB
dc.typeBook chapteren_GB
dc.identifier.doihttps://doi.org/10.4337/9781035340422.00011-
dc.relation.isPartOfHandbook of Climate Change and Financial Marketsen_GB
pubs.place-of-publicationCheltenham-
pubs.publication-statusPublished-
dc.rights.licensehttps://creativecommons.org/licenses/by-nc-nd/4.0/legalcode.en-
dcterms.issued2026-05-07-
dc.rights.holderThe Editor and Contributors-
dc.contributor.orcidCaporale, Guglielmo Maria [0000-0002-0144-4135]-
dc.contributor.orcidSpagnolo, Nicola [0000-0002-1663-2104]-
dc.identifier.number4-
Appears in Collections:Department of Economics, Finance and Accounting Embargoed Research Papers *

Files in This Item:
File Description SizeFormat 
FullText.pdfEmbargoed until 7 May 2027. This is a draft chapter. The final version is available in Handbook of Climate Change and Financial Markets edited by Guglielmo Maria Caporale, published in 2026, Edward Elgar Publishing Ltd. https://doi.org/10.4337/9781035340422.00011. It is deposited under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (https://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way.409.7 kBAdobe PDFView/Open
Show simple item record


This item is licensed under a Creative Commons License Creative Commons