Interconnection of Green Finance, Exchange Rate Fluctuations, and Equity Performance in India
インドにおけるグリーンファイナンス、為替変動、株式パフォーマンスの相互関連性 (AI 翻訳)
Piyali Roy Chowdhury, Nandini M
🤖 gxceed AI 要約
日本語
本研究は、インド株式市場におけるグリーン株式と為替レートの関係をARDLモデルで分析。2018～2024年の月次データを用い、ルピー高がグリーン株式の評価を押し上げることを発見。長期的には通貨高がグリーンファイナンスの移行に重要であり、短期的な不均衡は94%調整される。政策提言としてSEBIとRBIの連携によるグリーン株式指数の開発を提案。
English
This study analyzes the relationship between green equities and exchange rates in the Indian stock market using an ARDL model with monthly data from 2018 to 2024. It finds that appreciation of the Indian rupee boosts green equity valuations, and that currency appreciation is crucial for long-term green finance transition. Short-run disequilibrium adjusts by 94% toward long-run stability. Policy recommendations include collaboration between SEBI and RBI to develop green equity indices.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
インド市場に特化した研究だが、日本でもグリーンファイナンスと為替の関係は重要。特に輸出企業のグリーン投資判断に示唆を与える可能性がある。
In the global GX context
While focused on India, this paper contributes to the global understanding of how exchange rate dynamics affect green equity markets, relevant for emerging economies and international investors in green finance.
👥 読者別の含意
🔬研究者:Provides empirical evidence on green equity-exchange rate cointegration in an emerging market context.
🏢実務担当者:Offers insights for investors in Indian green equities regarding currency risk and long-term valuation.
🏛政策担当者:Suggests policy coordination between financial regulators to promote green indices and stable exchange rates.
📄 Abstract（原文）
Abstract: The connection of green equity and exchange rates sheds light on the changing picture of global finance, which is characterized by the growing interconnection between sustainability and economic fundamentals. In a global economy that is undergoing transition, it is essential for investors, policymakers, and financial institutions to have a substantial understanding of this relationship to effectively manage risk and capitalize on opportunities. In this respect, this study focuses on the impact of exchange rate on green equities in Indian stock market considering Auto Regressive Distributed Lag (ARDL) model. Data were collected monthly from the Indian stock market and exchange rates from 2018 to 2024. The stock has been considered as green stock or equity. The study finds an appreciation in Indian rupees apprehends the valuation of green equities in India. Also, it is proved that currency appreciation is essential in long run for a smooth transition in green finance for Indian economy. Result shows there is cointegration between exchange rate and green equities and led to analyse the short run associations. It is proved that short run disequilibrium gets adjusted by 94 percent while moving towards long run stability. There is a growing emphasis on the necessity of green equity research. Thus, this study finds out the relevance of analyzing the interconnection between green stocks and exchange rate to fruitfully recommend the appreciation of Indian currency for the viability of green finance in India. The policy recommendation of the study focuses on the partnership between SEBI and RBI to foster green equity and related indices for performance monitoring with the background of pegged exchange rate. This has the potential to act as a benchmark for regular investors as well as institutional investors, thus, increasing market participation in Indian economy. Keywords: Sustainable Finance, Green Equity, Exchange Rate, Emerging Economies, India, ARDL JEL Classification Number: G38, F31, G10
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.5281/zenodo.17193400first seen 2026-05-05 19:07:09
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