This research aims to reassess the impact of nuclear energy consumption and financial development on environmental quality using annual data from 1993 to 2019 for 11 countries with the highest ...nuclear energy consumption. Additionally, the study seeks to test the validity of the N-shaped EKC hypothesis. The findings of this study indicate a long-term cointegration relationship between the variables. According to the PCSE model results, increased nuclear energy consumption among the top 11 countries leads to decreased carbon emissions. Furthermore, the study reveals an N-shaped relationship between economic growth and environmental degradation. There is a strong recommendation for enhancing investments and grants directed towards research and development endeavours to identify and implement innovative solutions to reduce carbon emissions and improve environmental quality, particularly in less technologically advanced countries. Such efforts could include allocating more substantial funding to new technologies and encouraging collaborations between academic institutions and industry. Furthermore, considering regulatory adjustments like the liberalization of the energy market with the pro-ecological initiatives mainly carried out by public utilities is crucial as part of a comprehensive strategy to address environmental challenges.
The ongoing war between Russia and Ukraine has deeply affected many countries, mainly EU member states, and has led to an energy crisis. However, this war is also an opportunity for the world to ...transition from fossil fuels to clean energy because the renewable energy transition has the potential to both reduce Russia’s energy revenues and ensure the EU’s energy security. For this reason, many countries are planning to invest in the renewable energy sector both to prevent Russia’s aggressive behaviour and to overcome the energy crisis. In this context, the study aims to investigate the existence of a dynamic relationship between the intensity of the conflict between Russia and Ukraine and the renewable energy stock market. For this purpose, we adopt a DC-MSV model with the number of conflict news in the Donbass region and ECO and ERIX return series data as proxies of the renewable energy market. As a result, we find that changes in the conflict intensity in the Donbass region do not affect the stock volatility of renewable energy companies, while there is a weak relationship between their returns.
In this study, some physical properties; the thickness swelling, water absorption, surface absorption, formaldehyde emission, and some mechanical properties; internal bond strength, bending strength, ...bending modulus, and surface soundness of the MDF panels produced using recycled fibers obtained from the waste MDF and fresh wood fibers were investigated. Moreover, the effect of the kraft lignin modification to the recycled fibers and fresh fibers on the bond strength and mechanical properties of the MDF panels was determined. The results were compared with the MDF panels produced using fresh wood fibers. Although replacing fresh fiber with recycled fibers adversely affected the thickness swelling/water absorption (water resistance) and strength properties of fiberboard, the modification of the fibers using the lignin improved the properties of the fiberboard. The internal bond strength of the MDF produced with the 10 wt% recycled fibers modified at the 5 wt% and 7.5 wt% lignin contents was found to be higher than that of the specimens produced with 100 wt% fresh pine fibers. The formaldehyde emission of the MDF increased with increasing recycled fibers content. The lignin modification slightly decreased the formaldehyde emission of the MDF with the recycled fibers. Consequently, it can be said that the utilization of untreated recycled fibers decreased the mechanical properties of the MDF while the modification of these fibers using kraft lignin (5 wt% and 7.5 wt%) improved the mechanical properties, water resistance, and decreased formaldehyde emission of the MDF.
Bu çalışmada, Covid-19 Koronavirüs salgınıyla finansal göstergeler arasındaki nedensellik ilişkisini ortaya koymak amaçlanmıştır. Bu bağlamda virüsün ortaya çıktığı ülke olan Çin`in gösterge pay ...piyasası olan SSEC endeksi bağımlı değişken olarak alınırken bağımsız değişken olarak altın, Brent petrol, Bitcoin ve VIX endeksi verileri kullanılmıştır. Ayrıca her bir bağımlı değişken için bağımsız modellerinde kurulduğu çalışmada 03.01.2017 ile 10.03 .2020 arasındaki günlük veriler (790 Gözlem) kullanılmıştır. Sonrasında yine aynı ülke verileri virüsün tespit edildiği 06.12.2019 ile 10.03.2020 dönemlerini kapsayacak şekilde düzenlenmiştir. Toda-Yamamoto (1995) nedensellik testi kullanılarak korona virüsün finansal göstergeler üzerindeki etkileri araştırılmıştır. Elde edilen analiz sonuçlarına göre, SSEC endeksi ile Altın ve Vıx (korku endeksi) arasında %5 anlamlılık düzeyinde bir nedensellik ilişkisine rastlanmıştır. SSEC endeksinden Altına doğru tek yönlü bir nedensellik olduğu görülürken Vıx (korku endeksi) ile iki taraflı bir nedensellik ilişkisinin olduğu saptanmıştır. Bu sonuçlar çalışmada belirtilen her iki dönem içinde değişim göstermiştir. FakatSSEC endeksi ve altın fiyatları arasındaki ilişkinin anlamlı olmasının yanında 2019 Aralık sonrasında SSEC endeksinin Altın fiyatları üzerinde etkisinin arttığı yönünde bulgulara erişilmiştir.
Green initiatives and digital transitions in Central European countries are catalyzing significant transformations within the region’s socio-economic landscape, embedding contemporary technologies ...into daily life and commercial activities. Consequently, this fosters improved environmental quality through sustainable practices. This research unravels the complex interplay between renewable energy consumption, digitalization, and financial development in various national contexts, providing key insights into their respective and collective impacts on environmental quality. This study investigates the relationship among environmental quality, digitalization, renewable energy consumption, financial development, and economic growth in Central European countries, analyzing data from 1995 to 2019. An analysis of the panel data reveals a statistically significant positive relationship between economic growth and carbon emissions, and a negative relationship among digitalization, renewable energy consumption, and carbon emissions. In Central European nations, including the Czech Republic, Hungary, Latvia, and Slovakia, digitalization serves a mediating role in the relationship between renewable energy consumption and environmental quality. However, the role of financial development as a mediator between renewable energy consumption and environmental quality manifests varied impacts across different countries. These findings hold the potential to guide policy recommendations for the countries under consideration.
Over the past ten years, Turkey has actualized most intensive foreign trade with Germany, the UK, Russia and China. This study is also wonder that whether the same financial relations perform among ...the Turkey and trade partners in the equity markets. Therefore, five equity markets was determined for each country consist of the BIST100, FTSE100, DAX, RTS and SSEC as representative of the Capital markets. In this study, the VAR-EGARCH model was used that allow to examine interrelations among equity markets in terms of mutual returns and volatility spillover and in directions of asimetric spillover. The model was run by using daily closing price of the equity markets covered period of January 2, 2009 and December 29, 2017 thats not to coincided with the 2008 financial Crisis. According the results of the study, It was seen that only two countries; Germany and the UK, make a return spillovers to Turkey`s equity market already actualized most intensive export volume.
Son on yılda, Türkiye en yoğun dış ticaretini Almanya, Birleşik Krallık, Rusya ve Çin ile gerçekleştirmiştir. Bu çalışma ise Türkiye ile dış ticaret ortakları finansal piyasaları arasında aynı ilişkinin gerçekleşip gerçekleşmeyeceğini merak etmektedir. Buna nedenle bu ülkelerin sermaye piyasalarını temsilen BIST100, FTSE100, DAX, RTS ve SSEC endekslerinden oluşan beş pay piyasası belirlenmiştir. Bu çalışmada pay piyasaları arasında ilişkilerin çift yönlü ve asimetrik getiri ve volatilite yayılımının ölçülmesine imkân veren VAR-EGARCH modeli kullanılmıştır. Model, 2008 mali krizine rastlamayan 2 Ocak 2009 ve 29 Aralık 2017 tarihlerinde kapsayan pay piyasalarının günlük kapanış fiyatı kullanılarak yapılmıştır. Çalışmanın sonuçlarına göre; Türkiye pay piyasası üzerinde yanlızca en yoğun ihracat yaptığı 2 ülke olan Almanya ve Rusyanın bir getiri yayılımı gerçekleştirdiği görülmüştür.
This research aimed to investigate the relationship between climate policy uncertainty (CPU), clean energy (ENERGY), carbon emission allowance prices (CARBON), and Bitcoin returns (BTC) for the ...period from August 2012 to August 2022. The empirical analysis strategies utilized in this study included the Fourier Bootstrap ARDL long-term coefficient estimator, the Fourier Granger Causality, and the Fourier Toda–Yamamoto Causality methods. Following the confirmation of cointegration among the variables, we observed a positive relationship between BTC and CARBON, a positive relationship between BTC and CPU, and a negative relationship between BTC and ENERGY. In terms of causal associations, we identified one-way causality running from CARBON to BTC, BTC to CPU, and BTC to the ENERGY variable. The study underscores the potential benefits and revenue opportunities for investors seeking diversified investment strategies in light of climate change concerns. Furthermore, it suggests actionable strategies for policymakers, such as implementing carbon taxes and educational campaigns, to foster a transition towards clean energy sources within the cryptocurrency mining sector and thereby mitigate environmental impacts.
This study investigated the potential use of metalworking (cutting) fluid as an surface additive in the production of medium density fiberboard (MDF). The cutting fluid was sprayed on the mat surface ...of the fiberboard at different loading levels, of 3.5 g/m2, 7 g/m2, and 14 g/m2 (5 wt% or 10 wt% concentration levels) before the hot pressing. Some physical and mechanical properties of the resulting MDF specimens were carried out according to European standards. The bending strength and bending modulus, internal bond strength improved with the addition of the cutting fluid into the surface layers while the thickness swelling and water absorption decreased. This might be related to the fact that there was no hydrophobic chemical used in the production. The improvement in the adhesive bond between the fibers may be explained by the enhanced heat transfer from surface to the core layer of the MDF. The formaldehyde emission of the MDFs decreased with the incorporation of the cutting fluid. It was estimated that the crosslinking of the UF resin increased due to the higher thermal conductivity of the cutting fluid. The preliminary findings of the present study showed that the cutting fluid used in the metal industry could be efficiently used as surface additive in the production of the MDF.
•Metalworking fluid as surface additive was added into surface layers of fiberboard.•Mechanical properties of fiberboard considerably improved with addition of fluid.•Formaldehyde emission of fiberboard decreased with addition of fluid.•Surface absorption of fiberboard decreased with addition of fluid.•14 g/m2 of fluid at 5 wt% concentration gave optimum properties for fiberboard.
This study aimed to reveal the emergence of the vaccine against COVID-19 and its influence on the stock markets. In line with this purpose, this study seeks answers to some questions, whether ...vaccination supports the recovery of financial markets or not, and in which direction the effect is similar in the context of developed and developing countries, considering the United States and China samples. Fourier-based cointegration and causality tests were used to reveal the effect of COVID-19 vaccination on stock markets in the paper, which used daily data between March-2021 and September-2022. According to the results vaccination rates triggered the stock market prices in the U.S.A.. Moreover obtained findings show that the Chinese stock market and COVID-19 vaccination act together in the long term during the data range examined. Finally, it seems possible to state that it would be beneficial for investors investing in both the U.S.A. and China markets.
Bu çalışmada, koronavirüs (covid19)’ün finansal piyasalar üzerindeki etkileri incelenmiştir. Virüsün ortaya çıktığı ülke olan Çin ile virüsün Mart 2020 itibari ile en etkin olduğu 3 kıtadan seçilen 4 ...ülkenin pay piyasaları arasındaki istatistiksel olarak anlamlı bir ilişkinin varlığı sorgulanmıştır. Bu doğrultuda, virüsün ortaya çıktığı Aralık 2019 öncesi ve sonrası olmak üzere iki dönem baz alınmıştır. Günlük pay piyasalarının kapanış fiyatları kullanılarak Toda Yamamoto nedensellik testi çalıştırılmıştır. Çalışmanın sonunda elde edilen bulgulara göre, 2019 Aralık öncesinde ABD pay piyasası SP500 endeksinin Çin pay piyasası SSEC endeksini %5 anlamlılık düzeyinde etkilerken, 2019 Aralık sonrasında Çin piyasasının daha bağımsız olarak kendi dinamiklerinden etkilendiği görülmüştür. Diğer bir yandan 2019 Aralık öncesinde Çin pay piyasası ile Güney Kore Pay piyasaları arasında istatistiksel olarak anlamlı bir nedensellik ilişkisine rastlanmamış iken, 2019 Aralık sonrasında ise SSEC endeksinin Güney Kore pay piyasası KOSPI50 endeksini tek taraflı olarak etkilediği gözlemlenmiştir. Bu çalışmada baz alınan dönem ve değişkenler itibari ile, virüsün pay piyasaları üzerinde etkisinin bölgesel yakınlıkla ilgili olduğu sonucuna ulaşılmaktadır.
PDF
