{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,3,7]],"date-time":"2026-03-07T14:17:17Z","timestamp":1772893037104,"version":"3.50.1"},"reference-count":82,"publisher":"Elsevier BV","license":[{"start":{"date-parts":[[2025,10,1]],"date-time":"2025-10-01T00:00:00Z","timestamp":1759276800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.elsevier.com\/tdm\/userlicense\/1.0\/"},{"start":{"date-parts":[[2025,10,1]],"date-time":"2025-10-01T00:00:00Z","timestamp":1759276800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.elsevier.com\/legal\/tdmrep-license"},{"start":{"date-parts":[[2025,10,1]],"date-time":"2025-10-01T00:00:00Z","timestamp":1759276800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-017"},{"start":{"date-parts":[[2025,10,1]],"date-time":"2025-10-01T00:00:00Z","timestamp":1759276800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-037"},{"start":{"date-parts":[[2025,10,1]],"date-time":"2025-10-01T00:00:00Z","timestamp":1759276800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-012"},{"start":{"date-parts":[[2025,10,1]],"date-time":"2025-10-01T00:00:00Z","timestamp":1759276800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-029"},{"start":{"date-parts":[[2025,10,1]],"date-time":"2025-10-01T00:00:00Z","timestamp":1759276800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-004"}],"funder":[{"DOI":"10.13039\/501100001809","name":"National Natural Science Foundation of China","doi-asserted-by":"publisher","award":["72133003"],"award-info":[{"award-number":["72133003"]}],"id":[{"id":"10.13039\/501100001809","id-type":"DOI","asserted-by":"publisher"}]},{"DOI":"10.13039\/501100013074","name":"Ministry of Education Key Projects of Philosophy and Social Sciences Research","doi-asserted-by":"publisher","id":[{"id":"10.13039\/501100013074","id-type":"DOI","asserted-by":"publisher"}]}],"content-domain":{"domain":["elsevier.com","sciencedirect.com"],"crossmark-restriction":true},"short-container-title":["Journal of Environmental Management"],"published-print":{"date-parts":[[2025,10]]},"DOI":"10.1016\/j.jenvman.2025.126962","type":"journal-article","created":{"date-parts":[[2025,9,1]],"date-time":"2025-09-01T19:42:51Z","timestamp":1756755771000},"page":"126962","update-policy":"https:\/\/doi.org\/10.1016\/elsevier_cm_policy","source":"Crossref","is-referenced-by-count":0,"special_numbering":"C","title":["Volatility spillover between financial assets and transport energy"],"prefix":"10.1016","volume":"393","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-6516-0350","authenticated-orcid":false,"given":"Zin Yau","family":"Heng","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-1308-400X","authenticated-orcid":false,"given":"Boqiang","family":"Lin","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"78","reference":[{"key":"10.1016\/j.jenvman.2025.126962_bib1","doi-asserted-by":"crossref","DOI":"10.1016\/j.enpol.2019.110953","article-title":"Transmission of shocks and contagion from U.S. to MENA equity markets: the role of oil and gas markets","volume":"134","author":"Abid","year":"2019","journal-title":"Energy Policy"},{"key":"10.1016\/j.jenvman.2025.126962_bib2","doi-asserted-by":"crossref","DOI":"10.1016\/j.resourpol.2022.102877","article-title":"Crude oil and Islamic sectoral stocks: asymmetric TVP-VAR Connectedness and investment strategies","volume":"78","author":"Adekoya","year":"2022","journal-title":"Resour. Policy"},{"key":"10.1016\/j.jenvman.2025.126962_bib3","doi-asserted-by":"crossref","DOI":"10.1016\/j.eneco.2023.106930","article-title":"Decomposed oil price shocks and GCC stock market sector returns and volatility","volume":"126","author":"Al-Fayoumi","year":"2023","journal-title":"Energy Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib7","doi-asserted-by":"crossref","DOI":"10.1016\/j.eneco.2023.107103","article-title":"Connectedness and portfolio management between renewable energy tokens and metals: evidence from TVP-VAR approach","volume":"127","author":"Ali","year":"2023","journal-title":"Energy Econ."},{"issue":"4","key":"10.1016\/j.jenvman.2025.126962_bib9","doi-asserted-by":"crossref","first-page":"1","DOI":"10.3390\/jrfm13040084","article-title":"Refined measures of dynamic connectedness based on time-varying parameter vector autoregressions","volume":"13","author":"Antonakakis","year":"2020","journal-title":"J. Risk Financ. Manag."},{"key":"10.1016\/j.jenvman.2025.126962_bib10","doi-asserted-by":"crossref","first-page":"114","DOI":"10.1016\/j.iref.2022.08.009","article-title":"Dynamic connectedness among the implied volatilities of oil prices and financial assets: new evidence of the COVID-19 pandemic","volume":"83","author":"Antonakakis","year":"2023","journal-title":"Int. Rev. Econ. Finance"},{"key":"10.1016\/j.jenvman.2025.126962_bib137","doi-asserted-by":"crossref","first-page":"499","DOI":"10.1016\/j.eneco.2018.01.023","article-title":"Oil volatility, oil and gas firms and portfolio diversification","volume":"70","author":"Antonakakis","year":"2018","journal-title":"Energy Econ."},{"issue":"3","key":"10.1016\/j.jenvman.2025.126962_bib11","doi-asserted-by":"crossref","first-page":"242","DOI":"10.1002\/ijfe.443","article-title":"Oil prices and stock markets in GCC countries: empirical from panel analysis","volume":"17","author":"Arouri","year":"2012","journal-title":"Int. J. Finance Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib12","doi-asserted-by":"crossref","DOI":"10.1016\/j.eneco.2022.106108","article-title":"Oil price shocks and green bonds: an empirical evidence","volume":"112","author":"Azhgaliyeva","year":"2022","journal-title":"Energy Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib13","doi-asserted-by":"crossref","DOI":"10.1016\/j.eneco.2023.107202","article-title":"Volatility spillovers across Russian oil and gas sector. Evidence of the impact of global markets and extraordinary events","volume":"129","author":"Balash","year":"2024","journal-title":"Energy Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib14","doi-asserted-by":"crossref","DOI":"10.1016\/j.najef.2020.101147","article-title":"Oil price uncertainty and movements in the US government bond risk premia","volume":"52","author":"Balcilar","year":"2020","journal-title":"N. Am. J. Econ. Finance"},{"key":"10.1016\/j.jenvman.2025.126962_bib15","doi-asserted-by":"crossref","DOI":"10.1016\/j.jcomm.2023.100348","article-title":"Dynamic connectedness between crude oil and equity markets: what about the effects of firm's solvency and profitability positions?","volume":"31","author":"Balli","year":"2023","journal-title":"Journal of Commodity Markets"},{"issue":"3","key":"10.1016\/j.jenvman.2025.126962_bib132","doi-asserted-by":"crossref","first-page":"307","DOI":"10.1016\/S0304-405X(98)00027-0","article-title":"A model of investor sentiment","volume":"49","author":"Barberis","year":"1998","journal-title":"J. Financ. Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib16","doi-asserted-by":"crossref","first-page":"1066","DOI":"10.1016\/j.renene.2020.06.064","article-title":"Impact of biodiesel production on a soybean biorefinery","volume":"159","author":"Barreiros","year":"2020","journal-title":"Renew. Energy"},{"issue":"2","key":"10.1016\/j.jenvman.2025.126962_bib17","first-page":"271","article-title":"Measuring the frequency dynamics of financial connectedness and systemic risk","volume":"16","author":"Barun\u00edk","year":"2018","journal-title":"J. Financ. Econom."},{"key":"10.1016\/j.jenvman.2025.126962_bib18","doi-asserted-by":"crossref","DOI":"10.1016\/j.jcomm.2024.100387","article-title":"Are shocks in the stock markets driven by commodity markets? Evidence from Russia-Ukraine war","volume":"34","author":"Biswas","year":"2024","journal-title":"Journal of Commodity Markets"},{"issue":"3","key":"10.1016\/j.jenvman.2025.126962_bib133","doi-asserted-by":"crossref","first-page":"307","DOI":"10.1016\/0304-4076(86)90063-1","article-title":"Generalized autoregressive conditional heteroskedasticity","volume":"31","author":"Bollerslev","year":"1986","journal-title":"J. Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib19","doi-asserted-by":"crossref","DOI":"10.1016\/j.eneco.2023.107031","article-title":"Financial markets, energy shocks, and extreme volatility spillovers","volume":"126","author":"Boubaker","year":"2023","journal-title":"Energy Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib20","doi-asserted-by":"crossref","DOI":"10.1016\/j.intfin.2021.101302","article-title":"Quantile connectedness in the cryptocurrency market","volume":"71","author":"Bouri","year":"2021","journal-title":"J. Int. Financ. Mark. Inst. Money"},{"issue":"13","key":"10.1016\/j.jenvman.2025.126962_bib128","doi-asserted-by":"crossref","first-page":"3765","DOI":"10.3390\/en14133765","article-title":"Assessing the level of renewable energy development in the European Union Member States. A 10-year perspective","volume":"14","author":"Brodny","year":"2021","journal-title":"Energies (Basel)"},{"key":"10.1016\/j.jenvman.2025.126962_bib23","doi-asserted-by":"crossref","DOI":"10.1016\/j.techfore.2022.122068","article-title":"Planned economic growth and controlled energy demand: how do regional growth targets affect energy consumption in China?","volume":"185","author":"Chai","year":"2022","journal-title":"Technol. Forecast. Soc. Change"},{"key":"10.1016\/j.jenvman.2025.126962_bib129","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1016\/j.qref.2020.12.003","article-title":"EMU risk-synchronisation and financial fragility through the prism of dynamic connectedness","volume":"79","author":"Chatziantoniou","year":"2021","journal-title":"Q. Rev. Econ. Financ."},{"key":"10.1016\/j.jenvman.2025.126962_bib25","doi-asserted-by":"crossref","DOI":"10.1016\/j.resourpol.2023.103729","article-title":"Integration and risk transmission in the market for crude oil: new evidence from a time-varying parameter frequency connectedness approach","volume":"84","author":"Chatziantoniou","year":"2023","journal-title":"Resour. Policy"},{"key":"10.1016\/j.jenvman.2025.126962_bib26","article-title":"Identifying risk transmission in carbon market with energy, commodity and financial markets: evidence from time- frequency and extreme risk spillovers","volume":"10","author":"Chen","year":"2022","journal-title":"Front. Energy Res."},{"key":"10.1016\/j.jenvman.2025.126962_bib27","doi-asserted-by":"crossref","first-page":"264","DOI":"10.1016\/j.eneco.2015.05.013","article-title":"Equity market implied volatility and energy prices: a double threshold GARCH approach","volume":"50","author":"Cochran","year":"2015","journal-title":"Energy Econ."},{"issue":"2","key":"10.1016\/j.jenvman.2025.126962_bib136","doi-asserted-by":"crossref","first-page":"223","DOI":"10.1080\/713665670","article-title":"Empirical properties of asset returns: stylized facts and statistical issues","volume":"1","author":"Cont","year":"2001","journal-title":"Quant. Finance"},{"key":"10.1016\/j.jenvman.2025.126962_bib29","doi-asserted-by":"crossref","DOI":"10.1016\/j.eneco.2023.106511","article-title":"Extreme time-varying spillovers between high carbon emission stocks, GB and crude oil: evidence from a quantile-based analysis","volume":"118","author":"Dai","year":"2023","journal-title":"Energy Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib32","doi-asserted-by":"crossref","DOI":"10.3389\/fenrg.2022.986341","article-title":"Dynamic spillovers and asymmetric connectedness between fossil energy and green financial markets: evidence from China","volume":"10","author":"Deng","year":"2022","journal-title":"Front. Energy Res."},{"issue":"534","key":"10.1016\/j.jenvman.2025.126962_bib33","doi-asserted-by":"crossref","first-page":"158","DOI":"10.1111\/j.1468-0297.2008.02208.x","article-title":"Measuring financial asset return and volatility spillovers, with application to global equity markets","volume":"119","author":"Diebold","year":"2009","journal-title":"Econ. J."},{"issue":"1","key":"10.1016\/j.jenvman.2025.126962_bib34","doi-asserted-by":"crossref","first-page":"57","DOI":"10.1016\/j.ijforecast.2011.02.006","article-title":"Better to give than to receive: predictive directional measurement of volatility spillovers","volume":"28","author":"Diebold","year":"2012","journal-title":"Int. J. Forecast."},{"issue":"1","key":"10.1016\/j.jenvman.2025.126962_bib35","doi-asserted-by":"crossref","first-page":"119","DOI":"10.1016\/j.jeconom.2014.04.012","article-title":"On the network topology of variance decompositions: measuring the connectedness of financial firms","volume":"182","author":"Diebold","year":"2014","journal-title":"J. Econom."},{"key":"10.1016\/j.jenvman.2025.126962_bib37","doi-asserted-by":"crossref","DOI":"10.1016\/j.jclepro.2020.121956","article-title":"Do green investments react to oil price shocks? Implications for sustainable development","volume":"266","author":"Dutta","year":"2020","journal-title":"J. Clean. Prod."},{"issue":"5","key":"10.1016\/j.jenvman.2025.126962_bib39","doi-asserted-by":"crossref","first-page":"1749","DOI":"10.1111\/j.1540-6261.1993.tb05127.x","article-title":"Measuring and testing the impact of news on volatility","volume":"48","author":"Engle","year":"1993","journal-title":"J. Finance"},{"issue":"3","key":"10.1016\/j.jenvman.2025.126962_bib40","doi-asserted-by":"crossref","first-page":"1187","DOI":"10.1093\/rfs\/hhn004","article-title":"The spline-GARCH model for low-frequency volatility and its global macroeconomic causes","volume":"21","author":"Engle","year":"2008","journal-title":"Rev. Financ. Stud."},{"key":"10.1016\/j.jenvman.2025.126962_bib44","doi-asserted-by":"crossref","DOI":"10.1016\/j.jcomm.2022.100258","article-title":"Spillovers beyond the variance: exploring the higher order risk linkages between commodity markets and global financial markets","volume":"28","author":"Gomez-Gonzalez","year":"2022","journal-title":"Journal of Commodity Markets"},{"key":"10.1016\/j.jenvman.2025.126962_bib45","doi-asserted-by":"crossref","DOI":"10.1016\/j.apenergy.2024.123846","article-title":"The role of natural resources, and economic development in evaluating the environmental effects of biofuel and waste energy generation in the group of BRICS","volume":"372","author":"Gong","year":"2024","journal-title":"Appl. Energy"},{"key":"10.1016\/j.jenvman.2025.126962_bib46","doi-asserted-by":"crossref","first-page":"315","DOI":"10.1016\/j.eneco.2017.08.035","article-title":"Forecasting the good and bad uncertainties of crude oil prices using a HAR framework","volume":"67","author":"Gong","year":"2017","journal-title":"Energy Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib47","doi-asserted-by":"crossref","DOI":"10.3389\/fsuep.2024.1456264","article-title":"Research on the evolutionary game of government and enterprises in carbon emission reduction under multi-market coordinated trading","volume":"3","author":"Guo","year":"2024","journal-title":"Frontiers in Sustainable Energy Policy"},{"issue":"1","key":"10.1016\/j.jenvman.2025.126962_bib48","doi-asserted-by":"crossref","first-page":"215","DOI":"10.1353\/eca.0.0047","article-title":"Causes and consequences of the oil shock of 2007\u201308","volume":"2009","author":"Hamilton","year":"2009","journal-title":"Brookings Pap. Econ. Activ."},{"key":"10.1016\/j.jenvman.2025.126962_bib50","doi-asserted-by":"crossref","first-page":"307","DOI":"10.1016\/j.eneco.2018.01.011","article-title":"Forecasting volatility in the biofuel feedstock markets in the presence of structural breaks: a comparison of alternative distribution functions","volume":"70","author":"Hasanov","year":"2018","journal-title":"Energy Econ."},{"issue":"6","key":"10.1016\/j.jenvman.2025.126962_bib53","doi-asserted-by":"crossref","first-page":"1389","DOI":"10.1016\/j.jenvman.2010.02.022","article-title":"Impact assessment of the European biofuel directive on land use and biodiversity","volume":"91","author":"Hellmann","year":"2010","journal-title":"J. Environ. Manag."},{"key":"10.1016\/j.jenvman.2025.126962_bib55","doi-asserted-by":"crossref","DOI":"10.1016\/j.jenvman.2024.123854","article-title":"The returns-connectedness between environment, social, and governance funds and biofuels","volume":"373","author":"Heng","year":"2025","journal-title":"J. Environ. Manag."},{"key":"10.1016\/j.jenvman.2025.126962_bib56","doi-asserted-by":"crossref","DOI":"10.1016\/j.jclepro.2021.127576","article-title":"Estimating economic impacts from future energy demand changes due to climate change and economic development in China","volume":"311","author":"Huang","year":"2021","journal-title":"J. Clean. Prod."},{"key":"10.1016\/j.jenvman.2025.126962_bib58","doi-asserted-by":"crossref","DOI":"10.1016\/j.frl.2021.102363","article-title":"Volatility spillovers between stock and energy markets during crises: a comparative assessment between the 2008 global financial crisis and the Covid-19 pandemic crisis","volume":"46","author":"Jebabli","year":"2022","journal-title":"Finance Res. Lett."},{"key":"10.1016\/j.jenvman.2025.126962_bib61","doi-asserted-by":"crossref","DOI":"10.1016\/j.jcorpfin.2025.102807","article-title":"Islamic bonds ratings and the price of risk","volume":"93","author":"Khoo","year":"2025","journal-title":"J. Corp. Finance"},{"issue":"3","key":"10.1016\/j.jenvman.2025.126962_bib62","doi-asserted-by":"crossref","first-page":"1053","DOI":"10.1257\/aer.99.3.1053","article-title":"Not all oil price shocks are Alike: Disentangling demand and supply shocks in the crude oil market","volume":"99","author":"Kilian","year":"2009","journal-title":"Am. Econ. Rev."},{"key":"10.1016\/j.jenvman.2025.126962_bib65","doi-asserted-by":"crossref","DOI":"10.1016\/j.eneco.2021.105558","article-title":"Global crude oil and the Chinese oil-intensive sectors: a comprehensive causality study","volume":"103","author":"Leong","year":"2021","journal-title":"Energy Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib70","doi-asserted-by":"crossref","DOI":"10.1016\/j.jenvman.2024.121892","article-title":"Unintended environmental gains: how can a favorable business environment promote the low-carbon transition?","volume":"366","author":"Li","year":"2024","journal-title":"J. Environ. Manag."},{"issue":"1","key":"10.1016\/j.jenvman.2025.126962_bib71","doi-asserted-by":"crossref","first-page":"1","DOI":"10.4018\/JGIM.358476","article-title":"Financing management and social information: evidence from corporate renewable energy business development","volume":"32","author":"Lin","year":"2024","journal-title":"J. Global Inf. Manag."},{"issue":"1","key":"10.1016\/j.jenvman.2025.126962_bib72","doi-asserted-by":"crossref","first-page":"1","DOI":"10.4018\/JGIM.358476","article-title":"The role of latent information: renewable energy business expansion and performance","volume":"32","author":"Lin","year":"2024","journal-title":"J. Global Inf. Manag."},{"key":"10.1016\/j.jenvman.2025.126962_bib73","doi-asserted-by":"crossref","DOI":"10.1016\/j.apenergy.2024.123432","article-title":"Asymmetric spillover and network connectedness of policy uncertainty, fossil fuel energy, and global ESG investment","volume":"368","author":"Lin","year":"2024","journal-title":"Appl. Energy"},{"issue":"4","key":"10.1016\/j.jenvman.2025.126962_bib74","doi-asserted-by":"crossref","first-page":"1785","DOI":"10.1111\/jofi.12505","article-title":"Social capital, trust, and firm performance: the value of corporate social responsibility during the financial crisis","volume":"72","author":"Lins","year":"2017","journal-title":"J. Finance"},{"key":"10.1016\/j.jenvman.2025.126962_bib131","doi-asserted-by":"crossref","first-page":"918","DOI":"10.1016\/j.jclepro.2018.03.057","article-title":"Promotion of renewable energy sources in the Portuguese transport sector: A scenario analysis","volume":"186","author":"Lorenzi","year":"2018","journal-title":"J. Clean. Prod."},{"key":"10.1016\/j.jenvman.2025.126962_bib78","doi-asserted-by":"crossref","DOI":"10.1016\/j.eneco.2023.106860","article-title":"Dynamics of the return and volatility connectedness among green finance markets during the COVID-19 pandemic","volume":"125","author":"Lu","year":"2023","journal-title":"Energy Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib80","doi-asserted-by":"crossref","first-page":"440","DOI":"10.1016\/j.eneco.2017.10.025","article-title":"Volatility spillovers and cross- hedging between gold, oil and equities: evidence from the Gulf Cooperation Council countries","volume":"68","author":"Maghyereh","year":"2017","journal-title":"Energy Econ."},{"issue":"2","key":"10.1016\/j.jenvman.2025.126962_bib81","doi-asserted-by":"crossref","first-page":"77","DOI":"10.5547\/ISSN0195-6574-EJ-Vol22-No2-4","article-title":"Economic development and end-use energy demand","volume":"22","author":"Medlock","year":"2001","journal-title":"Energy J."},{"key":"10.1016\/j.jenvman.2025.126962_bib82","doi-asserted-by":"crossref","first-page":"454","DOI":"10.1016\/j.eneco.2017.08.031","article-title":"Dynamic risk spillovers between gold, oil prices and conventional, sustainability and Islamic equity aggregates and sectors with portfolio implications","volume":"67","author":"Mensi","year":"2017","journal-title":"Energy Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib84","doi-asserted-by":"crossref","DOI":"10.1016\/j.jenvman.2021.114358","article-title":"Green bonds and other assets: evidence from extreme risk transmission","volume":"305","author":"Naeem","year":"2022","journal-title":"J. Environ. Manag."},{"key":"10.1016\/j.jenvman.2025.126962_bib85","first-page":"107","article-title":"Time-varying parameter VAR model with stochastic volatility: an overview of methodology and empirical applications","volume":"29","author":"Nakajima","year":"2011","journal-title":"Bank Japan Monetary Econ. Stud."},{"issue":"1","key":"10.1016\/j.jenvman.2025.126962_bib88","doi-asserted-by":"crossref","first-page":"17","DOI":"10.1504\/AAJFA.2008.016888","article-title":"What drives short-term GCC stock market returns? Empirical evidence from fat-tailed distribution","volume":"1","author":"Onour","year":"2008","journal-title":"Afro-Asian J. Finance Account. (AAJFA)"},{"issue":"2","key":"10.1016\/j.jenvman.2025.126962_bib90","doi-asserted-by":"crossref","first-page":"320","DOI":"10.1016\/j.jfineco.2019.06.012","article-title":"Show me the money: the monetary policy risk premium","volume":"135","author":"Ozdagli","year":"2020","journal-title":"J. Financ. Econ."},{"issue":"1","key":"10.1016\/j.jenvman.2025.126962_bib21","doi-asserted-by":"crossref","first-page":"17","DOI":"10.1016\/S0165-1765(97)00214-0","article-title":"Generalized impulse response analysis in linear multivariate models","volume":"58","author":"Pesaran","year":"1998","journal-title":"Econ. Lett."},{"issue":"3","key":"10.1016\/j.jenvman.2025.126962_bib93","doi-asserted-by":"crossref","first-page":"821","DOI":"10.1111\/j.1467-937X.2005.00353.x","article-title":"Time varying structural vector autoregressions and monetary policy","volume":"72","author":"Primiceri","year":"2005","journal-title":"Rev. Econ. Stud."},{"key":"10.1016\/j.jenvman.2025.126962_bib95","series-title":"The Interrelationship between Financial and Energy Markets","year":"2014"},{"key":"10.1016\/j.jenvman.2025.126962_bib99","doi-asserted-by":"crossref","first-page":"S46","DOI":"10.1016\/j.jclepro.2009.05.003","article-title":"Global environmental consequences of increased biodiesel consumption in Switzerland: consequential life cycle assessment","volume":"17","author":"Reinhard","year":"2009","journal-title":"J. Clean. Prod."},{"key":"10.1016\/j.jenvman.2025.126962_bib100","doi-asserted-by":"crossref","DOI":"10.1016\/j.eneco.2022.105951","article-title":"A clean, green haven?\u2014Examining the relationship between clean energy, clean and dirty cryptocurrencies","volume":"109","author":"Ren","year":"2022","journal-title":"Energy Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib101","doi-asserted-by":"crossref","DOI":"10.1016\/j.eneco.2024.107398","article-title":"Connectedness between oil price shocks and US sector returns: evidence from TVP-VAR and wavelet decomposition","volume":"131","author":"Sevillano","year":"2024","journal-title":"Energy Econ."},{"issue":"4","key":"10.1016\/j.jenvman.2025.126962_bib102","doi-asserted-by":"crossref","first-page":"1038","DOI":"10.2134\/jeq2014.07.0320","article-title":"Meta\u2010analysis of soybean\u2010based biodiesel","volume":"44","author":"Sieverding","year":"2015","journal-title":"J. Environ. Qual."},{"issue":"4","key":"10.1016\/j.jenvman.2025.126962_bib135","doi-asserted-by":"crossref","first-page":"535","DOI":"10.1007\/BF01180700","article-title":"A spectral decomposition for structural VAR models","volume":"21","author":"Stiassny","year":"1996","journal-title":"Empir. Econ."},{"key":"10.1016\/j.jenvman.2025.126962_bib104","author":"Stiglitz"},{"key":"10.1016\/j.jenvman.2025.126962_bib105","doi-asserted-by":"crossref","DOI":"10.1016\/j.najef.2019.101098","article-title":"Measuring extreme risk spillovers across international stock markets: a quantile variance decomposition analysis","volume":"51","author":"Su","year":"2020","journal-title":"N. Am. J. Econ. Finance"},{"key":"10.1016\/j.jenvman.2025.126962_bib107","doi-asserted-by":"crossref","first-page":"100692","DOI":"10.1016\/j.gfj.2021.100692","article-title":"Dynamic spillover effects among green bond, renewable energy stocks and carbon markets during COVID-19 pandemic: Implications for hedging and investments strategies","volume":"51","author":"Tiwari","year":"2022","journal-title":"Glob. Financ. J."},{"issue":"5","key":"10.1016\/j.jenvman.2025.126962_bib130","doi-asserted-by":"crossref","first-page":"1364","DOI":"10.1016\/j.rser.2007.01.006","article-title":"An analysis of bioethanol utilized as renewable energy in the transportation sector in Taiwan","volume":"12","author":"Tsai","year":"2008","journal-title":"Renew. Sustain. Energy Rev."},{"key":"10.1016\/j.jenvman.2025.126962_bib111","doi-asserted-by":"crossref","first-page":"31","DOI":"10.1016\/j.jbusres.2021.01.061","article-title":"The effect of COVID \u2013 19 pandemic on global stock market volatility: can economic strength help to manage the uncertainty?","volume":"128","author":"Uddin","year":"2021","journal-title":"J. Bus. Res."},{"key":"10.1016\/j.jenvman.2025.126962_bib112","doi-asserted-by":"crossref","DOI":"10.1016\/j.frl.2022.102976","article-title":"The impact of the Russia- Ukraine conflict on the connectedness of financial markets","volume":"48","author":"Umar","year":"2022","journal-title":"Finance Res. Lett."},{"key":"10.1016\/j.jenvman.2025.126962_bib116","doi-asserted-by":"crossref","DOI":"10.1016\/j.energy.2021.121168","article-title":"Asymmetric volatility spillovers between crude oil and China's financial markets","volume":"233","author":"Wang","year":"2021","journal-title":"Energy"},{"key":"10.1016\/j.jenvman.2025.126962_bib120","doi-asserted-by":"crossref","DOI":"10.1016\/j.resourpol.2020.101871","article-title":"Information transmission between gold and financial assets: mean, volatility, or risk spillovers?","volume":"69","author":"Wen","year":"2020","journal-title":"Resour. Policy"},{"key":"10.1016\/j.jenvman.2025.126962_bib134","doi-asserted-by":"crossref","first-page":"131","DOI":"10.1016\/j.econlet.2018.10.007","article-title":"Are generalized spillover indices overstating connectedness?","volume":"173","author":"Wiesen","year":"2018","journal-title":"Econ. Lett."},{"key":"10.1016\/j.jenvman.2025.126962_bib122","doi-asserted-by":"crossref","DOI":"10.1016\/j.jenvman.2023.119008","article-title":"Do climate policy uncertainty and investor sentiment drive the dynamic spillovers among green finance markets?","volume":"347","author":"Wu","year":"2023","journal-title":"J. Environ. Manag."},{"key":"10.1016\/j.jenvman.2025.126962_bib123","doi-asserted-by":"crossref","DOI":"10.1016\/j.energy.2024.130504","article-title":"Asymmetric volatility spillovers among new energy, ESG, green bond and carbon markets","volume":"292","author":"Wu","year":"2024","journal-title":"Energy"},{"key":"10.1016\/j.jenvman.2025.126962_bib125","doi-asserted-by":"crossref","DOI":"10.1016\/j.apenergy.2022.120033","article-title":"Leveraging the benefits of ethanol-fueled advanced combustion and supervisory control optimization in hybrid biofuel-electric vehicles","volume":"326","author":"Zhang","year":"2022","journal-title":"Appl. Energy"},{"key":"10.1016\/j.jenvman.2025.126962_bib127","doi-asserted-by":"crossref","DOI":"10.1016\/j.jcomm.2024.100386","article-title":"How does carbon market interact with energy and sectoral stocks? Evidence from risk spillover and wavelet coherence","volume":"33","author":"Zhao","year":"2024","journal-title":"Journal of Commodity Markets"}],"container-title":["Journal of Environmental Management"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/api.elsevier.com\/content\/article\/PII:S030147972502938X?httpAccept=text\/xml","content-type":"text\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/api.elsevier.com\/content\/article\/PII:S030147972502938X?httpAccept=text\/plain","content-type":"text\/plain","content-version":"vor","intended-application":"text-mining"}],"deposited":{"date-parts":[[2026,3,6]],"date-time":"2026-03-06T17:38:41Z","timestamp":1772818721000},"score":1,"resource":{"primary":{"URL":"https:\/\/linkinghub.elsevier.com\/retrieve\/pii\/S030147972502938X"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2025,10]]},"references-count":82,"alternative-id":["S030147972502938X"],"URL":"https:\/\/doi.org\/10.1016\/j.jenvman.2025.126962","relation":{},"ISSN":["0301-4797"],"issn-type":[{"value":"0301-4797","type":"print"}],"subject":[],"published":{"date-parts":[[2025,10]]},"assertion":[{"value":"Elsevier","name":"publisher","label":"This article is maintained by"},{"value":"Volatility spillover between financial assets and transport energy","name":"articletitle","label":"Article Title"},{"value":"Journal of Environmental Management","name":"journaltitle","label":"Journal Title"},{"value":"https:\/\/doi.org\/10.1016\/j.jenvman.2025.126962","name":"articlelink","label":"CrossRef DOI link to publisher maintained version"},{"value":"article","name":"content_type","label":"Content Type"},{"value":"\u00a9 2025 Elsevier Ltd. All rights are reserved, including those for text and data mining, AI training, and similar technologies.","name":"copyright","label":"Copyright"}],"article-number":"126962"}}