{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,10,26]],"date-time":"2026-10-26T10:51:04Z","timestamp":1793011864690,"version":"4.5.0"},"reference-count":41,"publisher":"Elsevier BV","license":[{"start":{"date-parts":[[2021,12,1]],"date-time":"2021-12-01T00:00:00Z","timestamp":1638316800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.elsevier.com\/tdm\/userlicense\/1.0\/"},{"start":{"date-parts":[[2021,12,1]],"date-time":"2021-12-01T00:00:00Z","timestamp":1638316800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.elsevier.com\/legal\/tdmrep-license"},{"start":{"date-parts":[[2021,12,1]],"date-time":"2021-12-01T00:00:00Z","timestamp":1638316800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-017"},{"start":{"date-parts":[[2021,12,1]],"date-time":"2021-12-01T00:00:00Z","timestamp":1638316800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-037"},{"start":{"date-parts":[[2021,12,1]],"date-time":"2021-12-01T00:00:00Z","timestamp":1638316800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-012"},{"start":{"date-parts":[[2021,12,1]],"date-time":"2021-12-01T00:00:00Z","timestamp":1638316800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-029"},{"start":{"date-parts":[[2021,12,1]],"date-time":"2021-12-01T00:00:00Z","timestamp":1638316800000},"content-version":"stm-asf","delay-in-days":0,"URL":"https:\/\/doi.org\/10.15223\/policy-004"}],"content-domain":{"domain":["elsevier.com","sciencedirect.com"],"crossmark-restriction":true},"short-container-title":["Research in International Business and Finance"],"published-print":{"date-parts":[[2021,12]]},"DOI":"10.1016\/j.ribaf.2021.101493","type":"journal-article","created":{"date-parts":[[2021,7,8]],"date-time":"2021-07-08T13:23:13Z","timestamp":1625750593000},"page":"101493","update-policy":"https:\/\/doi.org\/10.1016\/elsevier_cm_policy","source":"Crossref","is-referenced-by-count":85,"special_numbering":"C","title":["Impact of the Covid-19 induced panic on the Environmental, Social and Governance leaders equity volatility: A time-frequency analysis"],"prefix":"10.1016","volume":"58","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-0425-2665","authenticated-orcid":false,"given":"Zaghum","family":"Umar","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Mariya","family":"Gubareva","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Dang Khoa","family":"Tran","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Tamara","family":"Teplova","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"78","reference":[{"key":"10.1016\/j.ribaf.2021.101493_bib0005","article-title":"COVID\u201319 media coverage and ESG leader indices","author":"Akhtaruzzaman","year":"2021","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2021.101493_bib0010","article-title":"Death and contagious infectious diseases: impact of Covid-19 virus on stock market returns","volume":"27","author":"Al-Awadi","year":"2020","journal-title":"J. Behav. Exp. Finance"},{"key":"10.1016\/j.ribaf.2021.101493_bib0015","article-title":"ESG fund scores in UK SRI and conventional pension funds: Are the ESG concerns of the SRI niche affecting the conventional mainstream?","author":"Alda","year":"2019","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2021.101493_bib0020","series-title":"The Unprecedented Stock Market Impact of COVID-19","author":"Baker","year":"2020"},{"key":"10.1016\/j.ribaf.2021.101493_bib0025","doi-asserted-by":"crossref","DOI":"10.1016\/j.frl.2020.101607","article-title":"Safe haven or risky hazard? Bitcoin during the Covid-19 bear market","author":"Conlon","year":"2020","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2021.101493_bib0030","doi-asserted-by":"crossref","DOI":"10.1016\/j.ribaf.2020.101248","article-title":"Are cryptocurrencies a safe haven for equity markets? An international perspective from the COVID-19 pandemic","volume":"54","author":"Conlon","year":"2020","journal-title":"Res. Int. Bus. Financ."},{"key":"10.1016\/j.ribaf.2021.101493_bib0035","doi-asserted-by":"crossref","first-page":"314","DOI":"10.1007\/s11424-020-9149-1","article-title":"Complex systems in economics and where to find them","volume":"34","author":"Gomes","year":"2020","journal-title":"J. Syst. Sci. Complex."},{"key":"10.1016\/j.ribaf.2021.101493_bib0040","doi-asserted-by":"crossref","DOI":"10.1016\/j.irfa.2021.101781","article-title":"Diversifying equity with cryptocurrencies during COVID-19","volume":"76","author":"Goodell","year":"2021","journal-title":"Int. Rev. Financ. Anal."},{"key":"10.1016\/j.ribaf.2021.101493_bib0045","article-title":"Covid-19 and finance: agenda for future research","volume":"35","author":"Goodell John","year":"2020","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2021.101493_bib0050","article-title":"Co-movement of COVID-19 and Bitcoin: evidence from wavelet coherence analysis","author":"Goodell John","year":"2020","journal-title":"Financ. Res. Lett."},{"issue":"10","key":"10.1016\/j.ribaf.2021.101493_bib0055","doi-asserted-by":"crossref","first-page":"835","DOI":"10.1080\/00036846.2015.1088143","article-title":"Typology for flight-to-quality episodes and downside risk measurement","volume":"48","author":"Gubareva","year":"2016","journal-title":"Appl. Econ."},{"key":"10.1016\/j.ribaf.2021.101493_bib0060","doi-asserted-by":"crossref","DOI":"10.1016\/j.scitotenv.2020.138916","article-title":"The nexus between Covid-19 temperature and exchange rate in Wuhan city: new findings from partial and multiple wavelet coherence","volume":"729","author":"Iqbal","year":"2020","journal-title":"Sci. Total Environ."},{"key":"10.1016\/j.ribaf.2021.101493_bib0065","doi-asserted-by":"crossref","first-page":"58","DOI":"10.1016\/j.inteco.2020.04.006","article-title":"On the effect of credit rating announcements on sovereign bonds: international evidence","volume":"163","author":"Kenourgios","year":"2020","journal-title":"Int. Econ."},{"key":"10.1016\/j.ribaf.2021.101493_bib0070","doi-asserted-by":"crossref","DOI":"10.1016\/j.physa.2020.124885","article-title":"Dynamic dependence between ETFs and crude oil prices by using EGARCH-Copula approach","volume":"557","author":"Naeem","year":"2020","journal-title":"Phys. A Stat. Mech. Appl."},{"key":"10.1016\/j.ribaf.2021.101493_bib0075","article-title":"Stock markets and the COVID-19 fractal contagion effects","author":"Okorie","year":"2020","journal-title":"Financ. Res. Lett."},{"issue":"3","key":"10.1016\/j.ribaf.2021.101493_bib0080","doi-asserted-by":"crossref","first-page":"622","DOI":"10.1093\/rcfs\/cfaa012","article-title":"Feverish stock price reaction to Covid-19","volume":"9","author":"Ramelli","year":"2020","journal-title":"Rev. Corp. Financ. Stud."},{"issue":"15","key":"10.1016\/j.ribaf.2021.101493_bib0085","doi-asserted-by":"crossref","first-page":"1588","DOI":"10.1080\/00036846.2018.1527465","article-title":"Pro-cyclical effect of sovereign rating changes on stock returns: a fact or factoid?","volume":"51","author":"Riaz","year":"2019","journal-title":"Appl. Econ."},{"key":"10.1016\/j.ribaf.2021.101493_bib0090","article-title":"The sovereign yield curve and credit ratings in GIIPS","author":"Riaz","year":"2020","journal-title":"Int. Rev. Financ."},{"key":"10.1016\/j.ribaf.2021.101493_bib0095","doi-asserted-by":"crossref","first-page":"9","DOI":"10.1016\/j.irfa.2017.04.005","article-title":"Risk transmission between Islamic and conventional stock markets: a return and volatility spillover analysis","volume":"52","author":"Shahzad","year":"2017","journal-title":"Int. Rev. Financ. Anal."},{"key":"10.1016\/j.ribaf.2021.101493_bib0100","doi-asserted-by":"crossref","DOI":"10.1016\/j.irfa.2020.101496","article-title":"Covid-19 pandemic, oil prices, stock market, geopolitical risk and policy uncertainty nexus in the US economy: fresh evidence from the wavelet-based approach","volume":"70","author":"Sharif","year":"2020","journal-title":"Int. Rev. Financ. Anal."},{"key":"10.1016\/j.ribaf.2021.101493_bib0105","doi-asserted-by":"crossref","DOI":"10.1016\/j.ememar.2019.100673","article-title":"Is there an illiquidity premium in frontier markets?","volume":"42","author":"Stere\u0144czak","year":"2020","journal-title":"Emerg. Mark. Rev."},{"key":"10.1016\/j.ribaf.2021.101493_bib0110","doi-asserted-by":"crossref","first-page":"489","DOI":"10.1016\/j.physa.2018.08.102","article-title":"Wavelet analysis of the co-movement and lead-lag effect among multi-markets","volume":"512","author":"Sun","year":"2018","journal-title":"Physica A"},{"key":"10.1016\/j.ribaf.2021.101493_bib0115","doi-asserted-by":"crossref","first-page":"2679","DOI":"10.1175\/1520-0442(1999)012<2679:ICITEM>2.0.CO;2","article-title":"Intercadal changes in the ENSO-Monsoon system","volume":"12","author":"Torrence","year":"1999","journal-title":"J. Clim."},{"key":"10.1016\/j.ribaf.2021.101493_bib0120","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1016\/j.pacfin.2015.10.006","article-title":"Islamic vs conventional equities in a strategic asset allocation framework","volume":"42","author":"Umar","year":"2017","journal-title":"Pacific-Basin Financ. J."},{"key":"10.1016\/j.ribaf.2021.101493_bib0125","doi-asserted-by":"crossref","first-page":"478","DOI":"10.1016\/j.econmod.2016.12.027","article-title":"The demand of energy from an optimal portfolio choice perspective","volume":"61","author":"Umar","year":"2017","journal-title":"Econ. Model."},{"key":"10.1016\/j.ribaf.2021.101493_bib0130","doi-asserted-by":"crossref","DOI":"10.1016\/j.jbef.2020.100404","article-title":"A time-frequency analysis of the impact of the covid-19 induced panic on the volatility of currency and cryptocurrency markets","volume":"28","author":"Umar","year":"2020","journal-title":"J. Behav. Exp. Finance"},{"issue":"27","key":"10.1016\/j.ribaf.2021.101493_bib0135","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1080\/00036846.2021.1877252","article-title":"The relationship between the Covid-19 media coverage and the Environmental, Social and Governance leaders equity volatility: a time-frequency wavelet analysis","volume":"53","author":"Umar","year":"2021","journal-title":"Appl. Econ."},{"key":"10.1016\/j.ribaf.2021.101493_bib0140","doi-asserted-by":"crossref","DOI":"10.1016\/j.pacfin.2021.101571","article-title":"Faith-based investments and the Covid-19 pandemic: analyzing equity volatility and media coverage time-frequency relations","volume":"67","author":"Umar","year":"2021","journal-title":"Pacific-Basin Financ. J."},{"issue":"2","key":"10.1016\/j.ribaf.2021.101493_bib0145","doi-asserted-by":"crossref","first-page":"22","DOI":"10.3390\/risks5020022","article-title":"Asymmetric return and volatility transmission in conventional and Islamic equities","volume":"5","author":"Umar","year":"2017","journal-title":"Risks"},{"issue":"42","key":"10.1016\/j.ribaf.2021.101493_bib0150","doi-asserted-by":"crossref","first-page":"4500","DOI":"10.1080\/00036846.2018.1458191","article-title":"Does Shariah compliance make interest rate sensitivity of Islamic equities lower? An industry level analysis under different market states","volume":"50","author":"Umar","year":"2018","journal-title":"Appl. Econ."},{"key":"10.1016\/j.ribaf.2021.101493_bib0155","doi-asserted-by":"crossref","DOI":"10.1016\/j.resourpol.2019.101472","article-title":"Hedging US metals & mining industry\u2019s credit risk with industrial and precious metals","volume":"63","author":"Umar","year":"2019","journal-title":"Resour. Policy"},{"issue":"11","key":"10.1016\/j.ribaf.2021.101493_bib0160","doi-asserted-by":"crossref","first-page":"994","DOI":"10.1080\/1351847X.2018.1564690","article-title":"The demand for eurozone stocks and bonds in a time-varying asset allocation framework","volume":"25","author":"Umar","year":"2019","journal-title":"Eur. J. Financ."},{"key":"10.1016\/j.ribaf.2021.101493_bib0165","doi-asserted-by":"crossref","DOI":"10.1108\/JES-04-2019-0183","article-title":"The inflation hedging capacity of Islamic and conventional equities","author":"Umar","year":"2020","journal-title":"J. Econ. Stud."},{"key":"10.1016\/j.ribaf.2021.101493_bib0170","doi-asserted-by":"crossref","DOI":"10.1016\/j.econmod.2020.08.007","article-title":"The static and dynamic connectedness of environmental, social, and governance investments: international evidence","author":"Umar","year":"2020","journal-title":"Econ. Model."},{"key":"10.1016\/j.ribaf.2021.101493_bib0175","series-title":"Dynamic Return and Volatility Connectedness for Dominant Agricultural Commodity Markets During the COVID-19 Pandemic Era","author":"Umar","year":"2020"},{"key":"10.1016\/j.ribaf.2021.101493_bib0180","doi-asserted-by":"crossref","DOI":"10.1016\/j.pacfin.2021.101563","article-title":"Return and volatility transmission between emerging markets and US debt throughout the pandemic crisis","volume":"67","author":"Umar","year":"2021","journal-title":"Pacific-Basin Financ. J."},{"key":"10.1016\/j.ribaf.2021.101493_bib0185","doi-asserted-by":"crossref","first-page":"241","DOI":"10.1016\/j.eneco.2011.10.007","article-title":"Co-movement of energy commodities revisited: evidence from wavelet coherence analysis","volume":"34","author":"Vacha","year":"2012","journal-title":"Energy Econ."},{"key":"10.1016\/j.ribaf.2021.101493_bib0190","article-title":"Does ESG certification add firm value?","author":"Wong","year":"2020","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2021.101493_bib0195","doi-asserted-by":"crossref","first-page":"90","DOI":"10.1016\/j.econlet.2019.05.002","article-title":"Inflation hedging with commodities: a wavelet analysis of seven centuries worth of data","volume":"181","author":"Zaremba","year":"2019","journal-title":"Econ. Lett."},{"key":"10.1016\/j.ribaf.2021.101493_bib0200","doi-asserted-by":"crossref","DOI":"10.1016\/j.frl.2021.102011","article-title":"Term spreads and the COVID-19 pandemic: evidence from international sovereign bond markets","author":"Zaremba","year":"2021","journal-title":"Financ. Res. Lett."},{"key":"10.1016\/j.ribaf.2021.101493_bib0205","doi-asserted-by":"crossref","DOI":"10.1016\/j.frl.2020.101528","article-title":"Financial markets under the global pandemic of Covid-19","author":"Zhang","year":"2020","journal-title":"Financ. Res. Lett."}],"container-title":["Research in International Business and Finance"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/api.elsevier.com\/content\/article\/PII:S0275531921001148?httpAccept=text\/xml","content-type":"text\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/api.elsevier.com\/content\/article\/PII:S0275531921001148?httpAccept=text\/plain","content-type":"text\/plain","content-version":"vor","intended-application":"text-mining"}],"deposited":{"date-parts":[[2025,10,3]],"date-time":"2025-10-03T12:54:54Z","timestamp":1759496094000},"score":1,"resource":{"primary":{"URL":"https:\/\/linkinghub.elsevier.com\/retrieve\/pii\/S0275531921001148"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2021,12]]},"references-count":41,"alternative-id":["S0275531921001148"],"URL":"https:\/\/doi.org\/10.1016\/j.ribaf.2021.101493","relation":{},"ISSN":["0275-5319"],"issn-type":[{"value":"0275-5319","type":"print"}],"subject":[],"published":{"date-parts":[[2021,12]]},"assertion":[{"value":"Elsevier","name":"publisher","label":"This article is maintained by"},{"value":"Impact of the Covid-19 induced panic on the Environmental, Social and Governance leaders equity volatility: A time-frequency analysis","name":"articletitle","label":"Article Title"},{"value":"Research in International Business and Finance","name":"journaltitle","label":"Journal Title"},{"value":"https:\/\/doi.org\/10.1016\/j.ribaf.2021.101493","name":"articlelink","label":"CrossRef DOI link to publisher maintained version"},{"value":"article","name":"content_type","label":"Content Type"},{"value":"\u00a9 2021 Elsevier B.V. All rights reserved.","name":"copyright","label":"Copyright"}],"article-number":"101493"}}