PhD students from the School of Finance presented their research at the World Finance Conference at the European University of Cyprus

Ion Frekautan and Egor Pashkov, PhD students from the School of Finance, participated in the World Finance Conference (WFC) organized jointly with the European University of Cyprus in Nicosia (Cyprus) from 30 July to 2 August. 

Ion Frekautan and Egor Pashkov presented the results of the study "Does the Volatility Spillover of Green Bonds matter for Emerging Capital Markets?

In this paper, Ion and Egor empirically analyzed volatility spillovers between green bonds and energy assets in emerging capital markets in the context of the COVID-19 pandemic and geopolitical conflict. The authors found that green bonds act as a net receiver of return volatility spillovers relative to energy assets and sustainable investments. Thus, green bonds proved to be an effective hedge against conventional and clean energy and an important asset for optimal portfolio structure during macroeconomic shocks. The discussant was Mr Julien Thavard from the University of Lorraine (France), who proposed his ideas for the continuation of the study, which will increase the academic value of this work.

The World Finance Conference is the leading academic event covering a wide range of financial topics. The conference is attended by representatives of the European Central Bank, the German Federal Bank, the Central Bank of Ireland, etc. This year's central theme was the study of sustainable development in the context of the latest challenges facing the global economy.