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dc.contributor.authorMonge Moreno, Manuel 
dc.contributor.authorGil Alana, Luis A. 
dc.date.accessioned2021-01-13T15:21:19Z
dc.date.available2021-01-13T15:21:19Z
dc.date.issued2020
dc.identifier.issn2227-9091spa
dc.identifier.urihttp://hdl.handle.net/10641/2161
dc.description.abstractAccording to a statement made in the BP Energy Outlook report in 2017, most of the world’s liquid fuel (petroleum) is being consumed by the transportation industry. The mechanisms used to stimulate changes in the energy markets are affected by government policies that act in more ambitious ways than purely market-driven forces; different governments have promoted incentives involving electric mobility, especially in urban areas. The substitution for crude oil by renewable energy inputs in the transport sector is a major concern for oil producers. Among the different types of clean energies, lithium (Li) is currently assuming an increasingly strategic role. The goals of this paper are two-fold: First, we study the dynamics of the lithium industry and then the beta risk behavior of the 10 largest oil companies in the world for the time period between 11 February 2008 and 10 January 2019. We use an approach based on the continuous wavelet transform (CWT) method. The results indicate that there is a period of dependence between late 2013 and 2016 that occurs in the long-run frequencies of between 32 and 198 days for all cases, except for in the case of PetroChina, thereby demonstrating that the beta term is time-varying. We also find evidence that the beta term reflects and advances oil companies’ responsiveness to movements in the lithium market. In the second part of the paper, we study the dynamics of the beta series by using long-run dependence approaches. The results indicate that the betas are highly persistent, with the order of integration found to be significantly above 1 in all casesspa
dc.language.isoengspa
dc.publisherRisksspa
dc.rightsAtribución-NoComercial-SinDerivadas 3.0 España*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/es/*
dc.subjectLithium industryspa
dc.subjectWaveletsspa
dc.subjectFractional integrationspa
dc.titleThe Lithium Industry and Analysis of the Beta Term Structure of Oil Companies.spa
dc.typejournal articlespa
dc.type.hasVersionAMspa
dc.rights.accessRightsopen accessspa
dc.description.extent1571 KBspa
dc.identifier.doi10.3390/risks8040130spa
dc.relation.publisherversionhttps://www.mdpi.com/2227-9091/8/4/130spa


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