ABSTRACT
With the increasing severe pollution, the new energy industry is greatly favored by the government and investors. Using the static network connectedness method of Diebold and Yilmaz (2009, 2012, 2014) and the dynamic network connectedness approach of Antonakakis et al. (2020), this paper discusses the return and volatility spillover effects between China's crude oil futures market and 7 Chinese green energy stock markets. In terms of return spillover effects, we find firstly that Chinese green energy stock is able to dominate the price changes in the crude oil market, and the dominate role of natural gas stock market is stronger. Secondly, rather than changing the dominant role of the green energy stock market on crude oil futures market price changes, the outbreak of COVID-19 in 2020 strengthened that dominant role. For the volatility spillover effects, the results of static volatility spillover index show that the crude oil futures market volatility is mainly dominated by the green energy equity market, but the dynamic connectedness indices results show that the volatility in the international energy market can strengthen the dominant role of the crude oil futures on the volatility of the green energy stock market. Finally, we can find that both the outbreak of COVID-19 in 2020 and the online operation of the Chinese carbon trading market in 2021 can strengthen the dominant role of the green energy stock market on the crude oil futures market volatility.
ABSTRACT
BACKGROUND: The COVID-19 pandemic has changed the social environment of most laborers around the world and has profoundly affected people's ontological security and behavior choices. Among them, the migrant workers are one of the groups most affected by the pandemic. OBJECTIVE: This study explored the mechanism of the impact of the scarcity of ontological security caused by the pandemic on the risk-taking tendency of migrant workers in China through two studies. METHODS: This study adopts two experimental method, with 514 participants in the first study and 357 participants in the second study. RESULTS: The results show that the pandemic-induced scarcity perception of ontological security promotes their risk-taking tendency, and the migrant workers' cognitive reflection ability, sense of unfairness and expected benefits play a significant mediating role in this process. The scarcity perception of ontological security promotes migrant workers' risk-taking tendency by reducing the cognitive reflection ability, triggering the sense of unfairness and overstating expected benefits. CONCLUSIONS: The conclusion of this study can help migrant workers, enterprises and government to avoid potential workplace and social bad behavior.
Subject(s)
COVID-19/epidemiology , Employment , Mental Health/statistics & numerical data , Social Security/statistics & numerical data , Transients and Migrants/psychology , Transients and Migrants/statistics & numerical data , Workplace , Adult , COVID-19/prevention & control , COVID-19/transmission , China , Female , Humans , Male , Middle Aged , Pandemics , Risk-Taking , SARS-CoV-2 , Social ValuesABSTRACT
BACKGROUND: The COVID-19 epidemic not only cast a shadow on China's economic development but also caused phased panic and anxiety among the Chinese population. At the stage when the spread of the epidemic is not completely controlled, the business activities will surely cause employees to worry and produce a work stress reaction. OBJECTIVE: This study explores the impact of psychosocial stress caused by the COVID-19 epidemic on the work stress of returned workers. Furthermore, we explore the boundary conditions for reducing work stress from the perspectives of perceived organizational support, perceived social support and epidemic awareness. METHODS: Data were collected within two weeks after the Chinese government announced the work resumption of industrial enterprises. During this period, 526 returned workers participated in the study. RESULTS: The results showed that the psychosocial stress caused by the epidemic had a positive impact on work stress. Both perceived organizational support and perceived that social support can alleviate the impact of psychosocial stress on work stress. The moderating effect of epidemic awareness was only established in non-severe epidemic areas. CONCLUSIONS: In the current period of the spread of the COVID-19 epidemic, the conclusions of this study have a certain theoretical significance and practical value.