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Examining the nexus between oil price, COVID-19, uncertainty index, and stock price of electronic sports: fresh insights from the nonlinear approach

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  • Jing Wang
  • Muhammad Umar
  • Sahar Afshan
  • Ilham Haouas

Abstract

Due to the arrival of a novel coronavirus, the year 2020 will forever be remembered. It is not hyperbole to state that COVID-19 has affected and infected almost everyone in society and the global community in different ways. However, many parts of the world seem to be improving. Individuals, organisations, and governments are trying to work through some effective strategies. The present study investigates the influence of fluctuation in the oil prices, COVID-19, and daily news-based index on Electronic Arts Inc's stock prices by applying a novel approach entitled Quantile Autoregressive Distributed Lag (QARDL) during 2019–2020. This approach is quite meaningful as it incorporates various quantiles with a comprehensive explanation of overall dependence among stated variables ignored by the traditional models like quantile regression, OLS, ARDL, etc. The study outcomes through QARDL reveal that the error correction coefficient is significant in various quantiles while confirming the long-run linkage among oil price, COVID-19, and EPU. More specifically, the study outcomes confirm a positive linkage (in all the quantiles) between COVID-19 and stock prices of Electronic Arts Inc, whereas a negative connection (for 0.20th to 0.95th quantiles) between oil prices and SPI. Furthermore, the Granger causality findings indicate the bidirectional causality between SPI and OIL and between SPI and EPU. Various policy implications are also provided under the present study.

Suggested Citation

  • Jing Wang & Muhammad Umar & Sahar Afshan & Ilham Haouas, 2022. "Examining the nexus between oil price, COVID-19, uncertainty index, and stock price of electronic sports: fresh insights from the nonlinear approach," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 35(1), pages 2217-2233, December.
    • Handle: RePEc:taf:reroxx:v:35:y:2022:i:1:p:2217-2233
    DOI: 10.1080/1331677X.2021.1937260
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    Cited by:

    1. Lei, Qiu & Huang, Weiyun & Zhao, Fang & Sarwar, Saima & Chaudhary, Muhammad Gulzaib, 2023. "The importance of public sector size and resources volatility in carbon emissions: Empirical evidence from OECD countries," Resources Policy, Elsevier, vol. 85(PA).
    2. Wang, Canghong & Zheng, Chaoliang & Hu, Caishuang & Luo, Yibin & Liang, Miya, 2023. "Resources sustainability and energy transition in China: Asymmetric role of digital trade and policy uncertainty using QARDL," Resources Policy, Elsevier, vol. 85(PB).
    3. Zhuoqi Teng & Renhong Wu & Yugang He & Anibal Coronel, 2023. "Swings in Crude Oil Valuations: Analyzing Their Bearing on China’s Stock Market Returns amid the COVID-19 Pandemic Upheaval," Discrete Dynamics in Nature and Society, Hindawi, vol. 2023, pages 1-10, June.

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