The DOI matches its Crossref record; 33 of the 34 references it cites were found in a registry or an index.
COVID-19 and the Oil Price – Stock Market Nexus: Evidence From Net Oil-Importing Countries
Open accessAbstract
This study focuses on the relation between stock price returns and oil price returns covering the COVID-19 period. This relation is examined for major net oil-importing Asian countries. Utilizing daily data, we fit a DCC-GARCH model. We find evidence of a positive co-movement between oil price returns and stock price returns during the COVID-19 period. This indicates that falling oil prices act as a negative signal for the stock market.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Claims other papers make about this one
Each is checked against this paper’s own text: does it say what the citing paper says it does?
In the citing paper
“Some studies, starting with [32] and [33], say that when oil prices go up, the stock market goes down.”
From Dynamics of economic growth in ASEAN-5 countries: a panel ARDL approach (2024) · cites this paper as [33]
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
Engle, R. (2002) · Journal of Business & Economic Statistics · doi:10.1198/073500102288618487 · Cited by 7,133
THE IMPACT OF OIL PRICE SHOCKS ON THE U.S. STOCK MARKET*
Kilian, L., & Park, C. (2009) · International Economic Review · doi:10.1111/j.1468-2354.2009.00568.x · Cited by 1,839
Oil price shocks and stock market activity
Sadorsky, P. (1999) · Energy Economics · doi:10.1016/s0140-9883(99)00020-1 · Cited by 1,813
Jones, C. M., & Kaul, G. (1996) · The Journal of Finance · doi:10.1111/j.1540-6261.1996.tb02691.x · Cited by 1,540
Filis, G. N., Degiannakis, S. A., & Floros, C. (2011) · International Review of Financial Analysis · doi:10.1016/j.irfa.2011.02.014 · Cited by 769
Do structural oil-market shocks affect stock prices?
Apergis, N., & Miller, S. M. (2009) · Energy Economics · doi:10.1016/j.eneco.2009.03.001 · Cited by 728
Country Responses and the Reaction of the Stock Market to COVID-19—a Preliminary Exposition
Phan, D. H. B., & Narayan, P. K. (2020) · Emerging Markets Finance and Trade · doi:10.1080/1540496x.2020.1784719 · Cited by 650
He, P., Sun, Y., Zhang, Y., & Li, T. (2020) · Emerging Markets Finance and Trade · doi:10.1080/1540496x.2020.1785865 · Cited by 644
New evidence on oil price and firm returns
Narayan, P. K., & Sharma, S. S. (2011) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2011.05.010 · Cited by 543
Implications of COVID-19 Pandemic on the Global Trade Networks
Vidya, C. T., & Prabheesh, K. P. (2020) · Emerging Markets Finance and Trade · doi:10.1080/1540496x.2020.1785426 · Cited by 444
Self-citation
Cited by
Sorted by citations
The economics of COVID-19 pandemic: A survey
Padhan, R., & Prabheesh, K. P. (2021) · Economic Analysis and Policy · doi:10.1016/j.eap.2021.02.012 · Cited by 423
Self-citationCOVID-19 lockdowns, stimulus packages, travel bans, and stock returns
Narayan, P. K., Phan, D. H. B., & Liu, G. (2020) · Finance research letters · doi:10.1016/j.frl.2020.101732 · Cited by 401
Japanese currency and stock market—What happened during the COVID-19 pandemic?
Narayan, P. K., Devpura, N., & Wang, H. (2020) · Economic Analysis and Policy · doi:10.1016/j.eap.2020.09.014 · Cited by 268
Chien, F., Sadiq, M., Kamran, H. W., Nawaz, M. A., Hussain, M. S., & Raza, M. (2021) · Environmental Science and Pollution Research · doi:10.1007/s11356-021-12938-2 · Cited by 250
Firms' cash reserve, financial constraint, and geopolitical risk
Lee, C., & Wang, C. (2020) · Pacific-Basin Finance Journal · doi:10.1016/j.pacfin.2020.101480 · Cited by 239
Metadata
- Authors
- Prabheesh, K. P., Padhan, R., & Garg, B.
- Affiliations
- Indian Institute of Technology Hyderabad (IN)
- Indian Institute of Technology Ropar (IN)
- Venue
- Energy RESEARCH LETTERS
- Published
- 2020-07-15
- Volume
- 1
- Issue
- 2
- ISSN
- 2652-6433 (ISSN-L)
- 2652-6514
- OpenAlex
- W3046930072
- Cited by
- 245
- References
- 34
- Citations by year
- 2026: 1 · 2025: 7 · 2024: 18 · 2023: 35 · 2022: 48 · 2021: 103 · 2020: 33
- FWCI
- 46.53
- Type
- journal article
- Language
- en
- Open access
- diamond
- doi.org
- Licence
- Locations
- Energy RESEARCH LETTERS (publishedVersion, cc-by-sa)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Market Dynamics and Volatility
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › COVID-19 Pandemic Impacts
- Social Sciences › Economics, Econometrics and Finance › Finance › Financial Risk and Volatility Modeling
- Keywords
- COVID-19 pandemic, oil prices, stock returns, Asian stock markets, dynamic conditional correlation
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: COVID-19 and the Oil Price – Stock Market Nexus: Evidence From Net Oil-Importing Countries. https://app.cochat.ai/papers/10.46557/001c.13745
- The paper
- Prabheesh, K. P., Padhan, R., & Garg, B. (2020). COVID-19 and the Oil Price – Stock Market Nexus: Evidence From Net Oil-Importing Countries. Energy RESEARCH LETTERS. https://doi.org/10.46557/001c.13745
