{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,1,3]],"date-time":"2026-01-03T15:07:42Z","timestamp":1767452862432,"version":"3.37.3"},"reference-count":101,"publisher":"Informa UK Limited","issue":"4","funder":[{"DOI":"10.13039\/501100001871","name":"Funda\u00e7\u00e3o para a Ci\u00eancia e a Tecnologia","doi-asserted-by":"publisher","award":["UIDB\/04007\/2020"],"award-info":[{"award-number":["UIDB\/04007\/2020"]}],"id":[{"id":"10.13039\/501100001871","id-type":"DOI","asserted-by":"publisher"}]}],"content-domain":{"domain":["www.tandfonline.com"],"crossmark-restriction":true},"short-container-title":["Journal of Sustainable Finance &amp; Investment"],"published-print":{"date-parts":[[2024,10]]},"DOI":"10.1080\/20430795.2024.2344525","type":"journal-article","created":{"date-parts":[[2024,4,26]],"date-time":"2024-04-26T12:17:59Z","timestamp":1714133879000},"page":"941-967","update-policy":"https:\/\/doi.org\/10.1080\/tandf_crossmark_01","source":"Crossref","is-referenced-by-count":3,"title":["Dynamic linkage between environmental segments of stock markets: the role of global risk factors"],"prefix":"10.1080","volume":"14","author":[{"ORCID":"https:\/\/orcid.org\/0000-0003-3530-7080","authenticated-orcid":false,"given":"V\u00edtor Manuel de Sousa","family":"Gabriel","sequence":"first","affiliation":[{"name":"CEFAGE, IIFA, Universidade de \u00c9vora, \u00c9vora, Portugal"},{"name":"Escola Superior de Tecnologia e Gest\u00e3o, Instituto Polit\u00e9cnico da Guarda, Guarda, Portugal"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-0224-8635","authenticated-orcid":false,"given":"Dora","family":"Almeida","sequence":"additional","affiliation":[{"name":"CEFAGE, IIFA, Universidade de \u00c9vora, \u00c9vora, Portugal"},{"name":"VALORIZA - Research Center for Endogenous Resource Valorization, Portalegre, Portugal"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-4289-9312","authenticated-orcid":false,"given":"Andreia","family":"Dion\u00edsio","sequence":"additional","affiliation":[{"name":"CEFAGE, IIFA, Universidade de \u00c9vora, \u00c9vora, Portugal"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-1951-889X","authenticated-orcid":false,"given":"Paulo","family":"Ferreira","sequence":"additional","affiliation":[{"name":"CEFAGE, IIFA, Universidade de \u00c9vora, \u00c9vora, Portugal"},{"name":"VALORIZA - Research Center for Endogenous Resource Valorization, Portalegre, Portugal"},{"name":"Instituto Polit\u00e9cnico de Portalegre, Portalegre, Portugal"}]}],"member":"301","published-online":{"date-parts":[[2024,4,26]]},"reference":[{"doi-asserted-by":"publisher","key":"e_1_3_4_2_1","DOI":"10.1007\/s10640-021-00585-7"},{"doi-asserted-by":"publisher","key":"e_1_3_4_3_1","DOI":"10.1016\/j.frl.2019.101393"},{"doi-asserted-by":"publisher","key":"e_1_3_4_4_1","DOI":"10.1016\/j.frl.2021.102170"},{"doi-asserted-by":"publisher","key":"e_1_3_4_5_1","DOI":"10.1016\/j.intfin.2021.101423"},{"doi-asserted-by":"publisher","key":"e_1_3_4_6_1","DOI":"10.1016\/j.resourpol.2019.101526"},{"doi-asserted-by":"publisher","key":"e_1_3_4_7_1","DOI":"10.1016\/j.irfa.2017.01.004"},{"doi-asserted-by":"publisher","key":"e_1_3_4_8_1","DOI":"10.1016\/j.eneco.2011.08.009"},{"doi-asserted-by":"publisher","key":"e_1_3_4_9_1","DOI":"10.1016\/j.jempfin.2006.04.005"},{"doi-asserted-by":"publisher","key":"e_1_3_4_10_1","DOI":"10.1093\/qje\/qjw024"},{"doi-asserted-by":"publisher","key":"e_1_3_4_11_1","DOI":"10.1016\/j.ememar.2015.12.003"},{"doi-asserted-by":"publisher","key":"e_1_3_4_12_1","DOI":"10.1016\/j.eneco.2015.11.022"},{"doi-asserted-by":"publisher","key":"e_1_3_4_13_1","DOI":"10.1016\/j.softx.2019.100265"},{"key":"e_1_3_4_14_1","first-page":"257","article-title":"Nonmonetary effects of the financial crisis in the propagation of the great depression","volume":"73","author":"Bernanke B.S.","year":"1983","unstructured":"Bernanke, B.S. 1983. Nonmonetary effects of the financial crisis in the propagation of the great depression. The American Economic Review 73: 257\u2013276.","journal-title":"The American Economic Review"},{"doi-asserted-by":"publisher","key":"e_1_3_4_15_1","DOI":"10.1016\/0378-4266(79)90030-X"},{"unstructured":"BP. 2020. Accessed on 14 October 2021 https:\/\/www.bp.com\/content\/dam\/bp\/business-sites\/en\/global\/corporate\/pdfs\/energy-economics\/statistical-review\/bp-statsreview-2020-full-report.pdf.","key":"e_1_3_4_16_1"},{"doi-asserted-by":"publisher","key":"e_1_3_4_17_1","DOI":"10.1016\/j.intfin.2014.09.007"},{"doi-asserted-by":"publisher","key":"e_1_3_4_18_1","DOI":"10.1016\/j.najef.2012.06.002"},{"doi-asserted-by":"publisher","key":"e_1_3_4_19_1","DOI":"10.1016\/j.mulfin.2017.03.001"},{"doi-asserted-by":"publisher","key":"e_1_3_4_20_1","DOI":"10.1016\/j.irfa.2012.12.001"},{"doi-asserted-by":"publisher","key":"e_1_3_4_21_1","DOI":"10.1007\/s10551-011-0865-2"},{"unstructured":"Cortez M. F. Silva and N. Areal. 2009. The performance of European socially responsible funds. Accessed on 18 September 2021 http:\/\/www.ifkcfs.de\/fileadmin\/downloads\/events\/conferences\/2008Asset_Cortez_Silva_Areal.pdf.","key":"e_1_3_4_22_1"},{"doi-asserted-by":"publisher","key":"e_1_3_4_23_1","DOI":"10.1016\/j.physa.2018.02.143"},{"doi-asserted-by":"publisher","key":"e_1_3_4_24_1","DOI":"10.1016\/j.ijforecast.2011.02.006"},{"doi-asserted-by":"publisher","key":"e_1_3_4_25_1","DOI":"10.1515\/snde-2012-0044"},{"doi-asserted-by":"publisher","key":"e_1_3_4_26_1","DOI":"10.1016\/j.intfin.2014.03.004"},{"doi-asserted-by":"publisher","key":"e_1_3_4_27_1","DOI":"10.1016\/j.energy.2017.01.126"},{"doi-asserted-by":"publisher","key":"e_1_3_4_28_1","DOI":"10.1016\/j.jmoneco.2009.06.001"},{"doi-asserted-by":"publisher","key":"e_1_3_4_29_1","DOI":"10.1016\/j.intfin.2019.05.004"},{"doi-asserted-by":"publisher","key":"e_1_3_4_30_1","DOI":"10.1198\/073500102288618487"},{"doi-asserted-by":"publisher","key":"e_1_3_4_31_1","DOI":"10.1016\/j.jfineco.2022.09.009"},{"doi-asserted-by":"publisher","key":"e_1_3_4_32_1","DOI":"10.1016\/j.gfj.2017.03.001"},{"doi-asserted-by":"publisher","key":"e_1_3_4_33_1","DOI":"10.1080\/14631377.2021.2006498"},{"doi-asserted-by":"publisher","key":"e_1_3_4_34_1","DOI":"10.3390\/e24030359"},{"key":"e_1_3_4_35_1","first-page":"153","article-title":"Ending the so-called \u201cfriedman-freeman\u201d debate, in: Agle, B.R., Donaldson, T., Freeman, R.E., Jensen, M.C., Mitchell, R. and Wood, D.J. (2008) Dialogue: Towards a superior stakeholder theory","volume":"18","author":"Freeman R.","year":"2008","unstructured":"Freeman, R. 2008. Ending the so-called \u201cfriedman-freeman\u201d debate, in: Agle, B.R., Donaldson, T., Freeman, R.E., Jensen, M.C., Mitchell, R. and Wood, D.J. (2008) Dialogue: Towards a superior stakeholder theory. Business Ethics Quarterly 18: 153\u2013190.","journal-title":"Business Ethics Quarterly"},{"key":"e_1_3_4_36_1","first-page":"122","article-title":"The social responsibility of business is to increase its profits","volume":"13","author":"Friedman M.","year":"1970","unstructured":"Friedman, M. 1970. The social responsibility of business is to increase its profits. New York Times 13: 122\u2013126.","journal-title":"New York Times"},{"issue":"4","key":"e_1_3_4_37_1","first-page":"133","article-title":"Financial crisis and stock market linkages","volume":"23","author":"Gabriel V.","year":"2014","unstructured":"Gabriel, V., and J. Manso. 2014. Financial crisis and stock market linkages. Economic Review of Galicia 23, no. 4: 133\u2013148.","journal-title":"Economic Review of Galicia"},{"doi-asserted-by":"publisher","key":"e_1_3_4_38_1","DOI":"10.1002\/csr.1437"},{"key":"e_1_3_4_39_1","first-page":"1","article-title":"Environmental investment versus traditional investment: Alternative or redundant pathways?","volume":"15","author":"Gabriel V.","year":"2018","unstructured":"Gabriel, V., and D. Pazos. 2018. Environmental investment versus traditional investment: Alternative or redundant pathways? Organization and Environment 15: 1\u201317.","journal-title":"Organization and Environment"},{"doi-asserted-by":"publisher","key":"e_1_3_4_40_1","DOI":"10.3390\/e17010438"},{"doi-asserted-by":"publisher","key":"e_1_3_4_41_1","DOI":"10.3390\/su14063466"},{"key":"e_1_3_4_42_1","first-page":"12","article-title":"Relationships between implied volatility indexes and stock index returns","volume":"26","author":"Giot P.","year":"2005","unstructured":"Giot, P. 2005. Relationships between implied volatility indexes and stock index returns. Journal of Portfolio Management 26: 12\u201317.","journal-title":"Journal of Portfolio Management"},{"key":"e_1_3_4_43_1","first-page":"1299","article-title":"Internationally diversified portfolios: Welfare gains and capital flows","volume":"58","author":"Grubel H.","year":"1968","unstructured":"Grubel, H. 1968. Internationally diversified portfolios: Welfare gains and capital flows. American Economic Review 58: 1299\u20131314.","journal-title":"American Economic Review"},{"unstructured":"GSIA. 2019. 2018 Global Sustainable Investment Review. Global Sustainable Investment Alliance. Accessed on 28 September 2021 http:\/\/www.gsi-alliance.org\/wp-content\/uploads\/2019\/03\/GSIR_Review2018.3.28.pdf.","key":"e_1_3_4_44_1"},{"doi-asserted-by":"publisher","key":"e_1_3_4_45_1","DOI":"10.1111\/j.1540-6261.2006.00877.x"},{"doi-asserted-by":"publisher","key":"e_1_3_4_46_1","DOI":"10.1016\/j.frl.2017.11.001"},{"doi-asserted-by":"publisher","key":"e_1_3_4_47_1","DOI":"10.1016\/j.iref.2018.01.011"},{"doi-asserted-by":"publisher","key":"e_1_3_4_48_1","DOI":"10.1016\/j.pacfin.2017.03.001"},{"doi-asserted-by":"publisher","key":"e_1_3_4_49_1","DOI":"10.1016\/j.irfa.2018.03.015"},{"doi-asserted-by":"publisher","key":"e_1_3_4_50_1","DOI":"10.1016\/j.najef.2020.101277"},{"doi-asserted-by":"publisher","key":"e_1_3_4_51_1","DOI":"10.1016\/j.eneco.2021.105413"},{"doi-asserted-by":"publisher","key":"e_1_3_4_52_1","DOI":"10.1016\/j.physa.2019.03.121"},{"doi-asserted-by":"publisher","key":"e_1_3_4_53_1","DOI":"10.1016\/j.econmod.2016.04.014"},{"doi-asserted-by":"publisher","key":"e_1_3_4_54_1","DOI":"10.1016\/j.ribaf.2011.02.004"},{"doi-asserted-by":"publisher","key":"e_1_3_4_55_1","DOI":"10.1109\/ACCESS.2020.3002174"},{"doi-asserted-by":"publisher","key":"e_1_3_4_56_1","DOI":"10.3390\/e21111124"},{"doi-asserted-by":"publisher","key":"e_1_3_4_57_1","DOI":"10.1016\/j.eneco.2023.106574"},{"doi-asserted-by":"publisher","key":"e_1_3_4_58_1","DOI":"10.1209\/0295-5075\/82\/68003"},{"doi-asserted-by":"publisher","key":"e_1_3_4_59_1","DOI":"10.1016\/j.bar.2017.09.007"},{"doi-asserted-by":"publisher","key":"e_1_3_4_60_1","DOI":"10.1016\/j.eneco.2020.104759"},{"doi-asserted-by":"publisher","key":"e_1_3_4_61_1","DOI":"10.1007\/s10827-010-0271-2"},{"key":"e_1_3_4_62_1","first-page":"53","article-title":"Stock market linkages among the ASEAN 5\u2009+\u20093 countries and US: further evidence","volume":"3","author":"Mandigma M.","year":"2014","unstructured":"Mandigma, M. 2014. Stock market linkages among the ASEAN 5\u2009+\u20093 countries and US: further evidence. Management and Administrative Sciences Review 3: 53\u201368.","journal-title":"Management and Administrative Sciences Review"},{"doi-asserted-by":"publisher","key":"e_1_3_4_63_1","DOI":"10.1016\/j.dcn.2022.101093"},{"doi-asserted-by":"publisher","key":"e_1_3_4_64_1","DOI":"10.1002\/bse.1803"},{"doi-asserted-by":"publisher","key":"e_1_3_4_65_1","DOI":"10.1016\/j.econmod.2013.01.023"},{"doi-asserted-by":"publisher","key":"e_1_3_4_66_1","DOI":"10.1016\/j.econmod.2022.106120"},{"doi-asserted-by":"publisher","key":"e_1_3_4_67_1","DOI":"10.1016\/j.jlp.2021.104713"},{"doi-asserted-by":"publisher","key":"e_1_3_4_68_1","DOI":"10.1002\/fut.21685"},{"doi-asserted-by":"publisher","key":"e_1_3_4_69_1","DOI":"10.1016\/j.irfa.2015.01.011"},{"doi-asserted-by":"publisher","key":"e_1_3_4_70_1","DOI":"10.1016\/j.bar.2017.10.003"},{"doi-asserted-by":"publisher","key":"e_1_3_4_71_1","DOI":"10.1016\/j.frl.2020.101914"},{"doi-asserted-by":"publisher","key":"e_1_3_4_72_1","DOI":"10.1016\/j.intfin.2018.04.004"},{"doi-asserted-by":"publisher","key":"e_1_3_4_73_1","DOI":"10.1111\/jofi.12041"},{"doi-asserted-by":"publisher","key":"e_1_3_4_74_1","DOI":"10.1016\/j.econmod.2019.09.004"},{"doi-asserted-by":"publisher","key":"e_1_3_4_75_1","DOI":"10.2307\/1927959"},{"doi-asserted-by":"publisher","key":"e_1_3_4_76_1","DOI":"10.1016\/j.eneco.2011.03.006"},{"doi-asserted-by":"publisher","key":"e_1_3_4_77_1","DOI":"10.1016\/j.eneco.2014.02.014"},{"doi-asserted-by":"publisher","key":"e_1_3_4_78_1","DOI":"10.1080\/09603107.2011.629980"},{"doi-asserted-by":"publisher","key":"e_1_3_4_79_1","DOI":"10.1103\/PhysRevLett.85.461"},{"doi-asserted-by":"publisher","key":"e_1_3_4_80_1","DOI":"10.1016\/j.chaos.2014.08.007"},{"doi-asserted-by":"publisher","key":"e_1_3_4_81_1","DOI":"10.1016\/j.irfa.2017.04.005"},{"doi-asserted-by":"publisher","key":"e_1_3_4_82_1","DOI":"10.1080\/00036846.2018.1540846"},{"doi-asserted-by":"publisher","key":"e_1_3_4_83_1","DOI":"10.1057\/jdhf.2009.20"},{"doi-asserted-by":"publisher","key":"e_1_3_4_84_1","DOI":"10.3905\/joi.2000.319396"},{"doi-asserted-by":"publisher","key":"e_1_3_4_85_1","DOI":"10.1016\/j.irfa.2014.03.007"},{"doi-asserted-by":"publisher","key":"e_1_3_4_86_1","DOI":"10.1198\/073500102288618496"},{"doi-asserted-by":"publisher","key":"e_1_3_4_87_1","DOI":"10.1016\/j.frl.2022.103209"},{"doi-asserted-by":"publisher","key":"e_1_3_4_88_1","DOI":"10.1016\/j.frl.2022.102991"},{"doi-asserted-by":"publisher","key":"e_1_3_4_89_1","DOI":"10.1080\/00036846.2021.1877252"},{"doi-asserted-by":"publisher","key":"e_1_3_4_90_1","DOI":"10.1016\/j.ribaf.2021.101493"},{"doi-asserted-by":"publisher","key":"e_1_3_4_91_1","DOI":"10.1108\/JES-04-2019-0183"},{"doi-asserted-by":"publisher","key":"e_1_3_4_92_1","DOI":"10.1016\/j.econmod.2020.08.007"},{"doi-asserted-by":"publisher","key":"e_1_3_4_93_1","DOI":"10.1016\/j.frl.2022.102976"},{"doi-asserted-by":"publisher","key":"e_1_3_4_94_1","DOI":"10.3390\/risks5020022"},{"doi-asserted-by":"publisher","key":"e_1_3_4_95_1","DOI":"10.1016\/j.ribaf.2020.101233"},{"doi-asserted-by":"publisher","key":"e_1_3_4_96_1","DOI":"10.3905\/jpm.2000.319728"},{"unstructured":"World Bank. 2020. Accessed on 20 September 2021 https:\/\/data.worldbank.org\/indicator\/CM.MKT.LCAP.GD.ZS.","key":"e_1_3_4_97_1"},{"doi-asserted-by":"publisher","key":"e_1_3_4_98_1","DOI":"10.1016\/j.eneco.2018.07.026"},{"doi-asserted-by":"publisher","key":"e_1_3_4_99_1","DOI":"10.1016\/j.physa.2018.02.034"},{"doi-asserted-by":"publisher","key":"e_1_3_4_100_1","DOI":"10.1016\/j.resourpol.2023.103501"},{"doi-asserted-by":"publisher","key":"e_1_3_4_101_1","DOI":"10.1016\/j.bir.2020.10.003"},{"key":"e_1_3_4_102_1","first-page":"1","article-title":"Global financial crisis and rising connectedness in the international commodity markets","volume":"68","author":"Zhang D.","year":"2018","unstructured":"Zhang, D., and D. Broadstock. 2018. Global financial crisis and rising connectedness in the international commodity markets. International Review of Financial Analysis 68: 1\u201311.","journal-title":"International Review of Financial Analysis"}],"container-title":["Journal of Sustainable Finance &amp; Investment"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.tandfonline.com\/doi\/pdf\/10.1080\/20430795.2024.2344525","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,9,28]],"date-time":"2024-09-28T14:01:45Z","timestamp":1727532105000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.tandfonline.com\/doi\/full\/10.1080\/20430795.2024.2344525"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2024,4,26]]},"references-count":101,"journal-issue":{"issue":"4","published-print":{"date-parts":[[2024,10]]}},"alternative-id":["10.1080\/20430795.2024.2344525"],"URL":"https:\/\/doi.org\/10.1080\/20430795.2024.2344525","relation":{},"ISSN":["2043-0795","2043-0809"],"issn-type":[{"type":"print","value":"2043-0795"},{"type":"electronic","value":"2043-0809"}],"subject":[],"published":{"date-parts":[[2024,4,26]]},"assertion":[{"value":"The publishing and review policy for this title is described in its Aims & Scope.","order":1,"name":"peerreview_statement","label":"Peer Review Statement"},{"value":"http:\/\/www.tandfonline.com\/action\/journalInformation?show=aimsScope&journalCode=tsfi20","URL":"http:\/\/www.tandfonline.com\/action\/journalInformation?show=aimsScope&journalCode=tsfi20","order":2,"name":"aims_and_scope_url","label":"Aim & Scope"},{"value":"2022-09-29","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-04-12","order":2,"name":"accepted","label":"Accepted","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-04-26","order":3,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]}}