Lan tỏa rủi ro đuôi giữa trái phiếu xanh và thị trường chứng khoán các nước ASEAN-6

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Adrian, T., & Brunnermeier, M. K. (2016). CoVaR. The American Economic Review, 106(7), Article 1705.

Arif, M., Naeem, M. A., Farid, S., Nepal, R., & Jamasb, T. (2022). Diversifier or more? Hedge and safe haven properties of green bonds during Covid-19. Energy Policy, 168, Article 113102. https://doi.org/10.1016/j.enpol.2022.113102

Azman-Saini, W. N. W., Azali, M., Habibullah, M. S., & Matthews, K. G. (2002). Financial integration and the ASEAN-5 equity markets. Applied Economics, 34(18), 2283-2288. https://doi.org/10.1080/00036840210139364

Chen, X., Zhou, L., Wang, L., & Zheng, Y. (2023). Risk spillover in China’s real estate industry chain: A DCC-EGARCH-ΔCoVaR model. Humanities and Social Sciences Communications, 10(1), 1-16. https://doi.org/10.1057/s41599-023-01934-1

Chevapatrakul, T., Xu, Z., & Yao, K. (2019). The impact of tail risk on stock market returns: The role of market sentiment. International Review of Economics & Finance, 59, 289-301. https://doi.org/10.1016/j.iref.2018.09.005

Cui, T., Suleman, M. T., & Zhang, H. (2022). Do the green bonds overreact to the Covid-19 pandemic? Finance Research Letters, 49, Article 103095. https://doi.org/10.1016/j.frl.2022.103095

Dhingra, B., Saini, M., Yadav, M., Kumar, G., & Kumar, P. (2025). Exploring global financial interdependencies among ASEAN-5, major developed and developing markets. The Journal of Economic Asymmetries, 31, Article e00398. https://doi.org/10.1016/j.jeca.2024.e00398

Dong, X., Xiong, Y., Nie, S., & Yoon, S. M. (2023). Can bonds hedge stock market risks? Green bonds vs conventional bonds. Finance Research Letters, 5, Article 103367. https://doi.org/10.1016/j.frl.2022.103367

Dutta, A., Bouri, E., & Noor, M. H. (2021). Climate bond, stock, gold, and oil markets: Dynamic correlations and hedging analyses during the Covid-19 outbreak. Resources Policy, 74, Article 102265. https://doi.org/10.1016/j.resourpol.2021.102265

Girardi, G., & Ergün, A. T. (2013). Systemic risk measurement: Multivariate GARCH estimation of CoVaR. Journal of Banking & Finance, 37(8), 3169-3180. https://doi.org/10.1016/j.jbankfin.2013.02.027

Hasan, M. B., Uddin, G. S., Ali, M. S., Rashid, M. M., Park, D., & Kang, S. H. (2024). Examining time - frequency quantile dependence between green bond and green equity markets. Financial Innovation, 10(1), Article 115. https://doi.org/10.1186/s40854-024-00641-3

Horky, F., & Fidrmuc, J. (2024). Financial development and renewable energy adoption in EU and ASEAN countries. Energy Economics, 13, Article 107368. https://doi.org/10.1016/j.eneco.2024.107368

Karim, S., Lucey, B. M., Naeem, M. A., & Yarovaya, L. (2023). Extreme risk dependence between green bonds and financial markets. European Financial Management, 30(2), 935-960. https://doi.org/10.1111/eufm.12458

Khurram, M. U., Xie, W., Mirza, S. S., & Tong, H. (2023). Green bonds issuance, innovation performance, and corporate value: Empirical evidence from China. Heliyon, 9(4),  Article e14895. https://doi.org/10.1016/j.heliyon.2023.e14895

Kim, S. S., Nugroho, V., & Handoko, L. (2025). Competitions among sub-financial sectors and growth of green bond markets in ASEAN plus three countries. Managerial Finance, 51(1), 166-184. https://doi.org/10.1108/MF-04-2,024-0299

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Mensi, W., Shafiullah, M., Vo, V. X., & Kang, S. H. (2022). Spillovers and connectedness between green bond and stock markets in bearish and bullish market scenarios. Finance Research Letters, 49, Article 103120. https://doi.org/10.1016/j.frl.2022.103120

Mustafa, N. N. S., Samsudin, S., Shahadan, F., & Yi, A. K. J. (2015). Flight-to-quality between stock and bond markets: Pre and post global financial crisis. Procedia Economics and Finance, 31, 846-855. https://doi.org/10.1016/S2212-5671(15)01178-8

Nasir, M. A., Huynh, D. T. L., & Tram, X. H. T. (2019). Role of financial development, economic growth & foreign direct investment in driving climate change: A case of emerging ASEAN. Journal of Environmental Management, 242, 131-141. https://doi.org/10.1016/j.jenvman.2019.03.112

Nguyen, H., & Javed, F. (2023). Dynamic relationship between Stock and Bond returns: A GAS MIDAS copula approach. Journal of Empirical Finance, 73, 272-292. https://doi.org/10.1016/j.jempfin.2023.07.004

Nguyen, H. T. T., Naeem, M. A., Balli, F., Balli, H. O., & Vo, V. X. (2021). Time-frequency comovement among green bonds, stocks, commodities, clean energy, and conventional bonds. Finance Research Letters, 40, Article 101739. https://doi.org/10.1016/j.frl.2020.101739

Reboredo, J. C. (2018). Green bond and financial markets: Co-movement, diversification and price spillover effects. Energy Economics, 74, 38-50. https://doi.org/10.1016/j.eneco.2018.05.030

Reboredo, J. C., & Ugolini, A. (2020). Price connectedness between green bond and financial markets. Economic Modelling, 88, 25-38. https://doi.org/10.1016/j.econmod.2019.09.004

Ren, B., Lucey, B., & Luo, Q. (2023). An examination of green bonds as a hedge and safe haven for international equity markets. Global Finance Journal, 58, Article 100894. https://doi.org/10.1016/j.gfj.2023.100894

Tang, D. Y., & Zhang, Y. (2020). Do shareholders benefit from green bonds? Journal of Corporate Finance, 61(2020), Article 101427. https://doi.org/10.1016/j.jcorpfin.2018.12.001

Tian, M., & Ji, H. (2022). GARCH copula quantile regression model for risk spillover analysis. Finance Research Letters, 44, Article 102104. https://doi.org/10.1016/j.frl.2021.102104

Tian, M., Alshater, M. M., & Yoon, S. M. (2022). Dynamic risk spillovers from oil to stock markets: Fresh evidence from GARCH copula quantile regression-based CoVaR model. Energy Economics, 11, Article 106341. https://doi.org/10.1016/j.eneco.2022.106341

Tobias, A., & Brunnermeier, M. K. (2016). CoVaR. The American Economic Review, 106(7), Article 1705. https://doi.org/10.1257/aer.20120555

Wang, C., Xiong, X., & Shen, D. (2022). Tail risks, firm characteristics, and stock returns. Pacific-Basin Finance Journal, 75, Article 101854. https://doi.org/10.1016/j.pacfin.2022.101854

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Yadav, M. P., Ashok, S., Taghizadeh-Hesary, F., Dhingra, D., Mishra, N., & Malhotra, N. (2023). Uncovering time and frequency co-movement among green bonds, energy commodities and stock market. Studies in Economics and Finance, 41(3), 638-659. https://doi.org/10.1108/SEF-03-2,023-0126

Yiming, W., Xun, L., Umair, M., & Aizhan, A. (2024). Covid-19 and the transformation of emerging economies: Financialization, green bonds, and stock market volatility. Resources Policy, 92, Article 104963. https://doi.org/10.1016/j.resourpol.2024.104963

Yousaf, I., Suleman, M. T., & Demirer, R. (2022). Green investments: A luxury good or a financial necessity? Energy Economics, 105, Article 105745.https://doi.org/10.1016/j.eneco.2021.105745

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