PurposeThe purpose of the paper is to assess the systemic risk in the new energy stock markets of China.Design/methodology/approachThis paper first uses the VaR method to study individual stock market risks. It then introduces the DCC model to capture the dynamic conditional correlation among the new energy stock markets.FindingsThe paper shows a generally upward trend of the stock market risk over time in the recent decade. Among all the markets considered, the solar power market demonstrates the highest risk, closely followed by the wind power market, while the hydropower market exhibits the lowest risk. Furthermore, the average dynamic conditional correlations among the new energy markets stay high during the period under investigation though daily correlations vary and significantly declined in 2020.Originality/valueTo the best of the authors’ knowledge, this paper is the first of its kind to study the systemic risk within the new energy stock market context. In addition, it not only investigates individual new energy stock market risks but also examines the dynamic linkages among those markets, thus providing comprehensive and unprecedented evidence of systemic risk in China new energy markets, which have useful implications for both regulators and investors.
The synthesis CF3, CF2H‐Substituted, epoxide‐fused heterocycles was performed efficiently using [4+2]/[2+1]‐annulation of ortho‐amino trifluoracetophenone or difluoroacetophenone derivatives and prop‐2‐ynylsulfonium salts. This resulted in a wide range of target compounds with various substituents and functionalities in moderate to good yields. The transformation makes it an alternative method to previous protocols. Moreover, the successful synthesis finds application in pharmaceutical and biomedical of the investigated compounds, which are expected to develop further.
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