Covid-19 shock: Development of strategic management framework for global energy

Chofreh, Abdoulmohammad Gholamzadeh; Goni, Feybi Ariani; Klemeš, Jiří Jaromír; Moosavi, Seyed Mohsen Seyed; Davoudi, Mehdi; Zeinalnezhad, Masoomeh

doi:10.1016/j.rser.2020.110643

Cited by 52 publications

(36 citation statements)

References 55 publications

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“…In our paper, we examine how the COVID-19 pandemic has influenced the stock market indices related to the alternative and conventional energy sector. Energy resources are indispensable for economic development and treated as a vital commodity for humankind [21]. Conventional energy sources, i.e., natural gas, oil, coal, or nuclear, are non-renewable but still hold most of the energy market [22,23].…”

Section: Introductionmentioning

confidence: 99%

“…Many aspects, including economic, political, environmental, technological, and social, affect global energy production and consumption. The COVID-19 pandemic hit the global energy sector by, among others, a plunge in oil prices and demand, increased global CO2 emissions, energy supply chains disruptions, and has led to the problem of global energy crisis [21,32,33]. The COVID-19 pandemic hit the conventional energy sector and conventional energy commodities [34][35][36].…”

Section: Introductionmentioning

confidence: 99%

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Is the Alternative Energy Sector COVID-19 Resistant? Comparison with the Conventional Energy Sector: Markov-Switching Model Analysis of Stock Market Indices of Energy Companies

Czech

Wielechowski

2021

Energies

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The outbreak and rapid spread of the COVID-19 pandemic has hit the global financial markets, including the energy sector. Alternative energy belongs to the economy’s key sectors concerning environmental issues and seems to be a full-fledged alternative for fossil-based conventional energy. This paper aims to assess the impact of COVID-19 on the stock market indices related to the alternative and conventional energy sector. We use daily data on the Morgan Stanley Capital International (MSCI) Global Alternative Energy Index, the MSCI All Country World Index (ACWI) Energy Index, and self-developed Average-49 COVID-19 New Cases Index and Average-49 Stringency Index. The research covers the period January–October 2020. The average level of the MSCI Global Alternative Energy Index in COVID-19 year was more than a quarter higher than in 2019 while the MSCI ACWI Energy fell almost one-third in the same period. Based on the Markov-switching model, we show that both the MSCI Global Alternative Energy and the MSCI ACWI Energy are not significantly affected by the epidemic status. The analysed indices decline as the government anti-COVID-19 policy becomes more stringent, but the relationship is statistically significant only in the high-volatility regime. In comparison to the conventional energy index, we reveal that the alternative energy index stays most of its time in the low-volatility regime without being adversely and significantly affected by the COVID-19 related indicators. Our study shows that the alternative energy sector, represented by the MSCI Global Alternative Energy Index, seems to be more resistant to COVID-19 than the conventional energy sector. It might imply that the novel coronavirus pandemic has not depreciated but emphasised the growing concern about climate change and environmental pollution.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Is the Alternative Energy Sector COVID-19 Resistant? Comparison with the Conventional Energy Sector: Markov-Switching Model Analysis of Stock Market Indices of Energy Companies

Czech

Wielechowski

2021

Energies

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“…The following issues need to be addressed at the corporate level before proposing specific healthcare policies, i.e. the mystifying economic policies, energy crisis, financial issues, oil price shocks, inadequate healthcare infrastructure, and political instability, making this situation worse during the pandemic recession that negatively affects the normal business cycle (Waitzkin 2020 ; Chofreh et al 2020 ; Salisu et al 2021 ; Passos et al 2021 ). The disrupted supply chain process due to strict/partial nationwide lockdown to essential and non-essential businesses increases product shortages, leads to an increase in the general price level, which affects the socioeconomic living of the residents across countries (El Baz and Ruel 2021 ).…”

Section: Cross-sectional Regression Estimatesmentioning

confidence: 99%

Socio-economic and corporate factors and COVID-19 pandemic: a wake-up call

Anser

Yousaf

Hyder

et al. 2021

Environ Sci Pollut Res

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The novel coronavirus 2019 (COVID-19) emerges from the Chinese city Wuhan and its spread to the rest of the world, primarily affected economies and their businesses, leading to a global depression. The explanatory and cross-sectional regression approach assesses the impact of COVID-19 cases on healthcare expenditures, logistics performance index, carbon damages, and corporate social responsibility in a panel of 77 countries. The results show that COVID-19 cases substantially increase healthcare expenditures and decrease corporate social responsibility. On the other hand, an increase in the coronavirus testing capacity brings positive change in reducing healthcare expenditures, increased logistics activities, and corporate social responsibility. The cost of carbon emissions increases when corporate activities begin to resume. The economic affluence supports logistics activities and improves healthcare infrastructure. It linked to international cooperation and their assistance to supply healthcare logistics traded equipment through mutual trade agreements. The greater need to enhance global trade and healthcare logistics supply helps minimize the sensitive coronavirus cases that are likely to provide a safe and healthy environment for living.

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“…This challenge has worsened since the beginning of the pandemic, so the degree of importance of the implementation of methodologies that allow the design, evaluation, and implementation of global energy strategies has become of great relevance. Chofreh et al (2021) proposed a methodology that allows decision-makers to analyze, plan, implement, and evaluate global energy strategies, based on the classification of supplier and consumer energy resources. The strategy can be used with different scopes, depending on the addressed case, Fig.…”

Section: Covid-19 Vaccine Allocationmentioning

confidence: 99%

“…The energy consumption of hospitals has been increased by 20% (Morawska et al 2020) which allows the benefits obtained by using this methodology to Fig. 5 The main strategy for the framework for energy management ( adapted from Chofreh et al 2021) be even greater during situations such as the one generated by the COVID-19 pandemic in 2020. A summary of the proposed methodologies for the energy management challenges is presented in Table 3.…”

Section: Covid-19 Vaccine Allocationmentioning

confidence: 99%

Use of Mathematical Approaches for Addressing COVID-19 Pandemic — a Critical Review

Ochoa-Barragán

Munguía-López

Ponce-Ortega

2021

Process Integr Optim Sustain

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The COVID-19 pandemic has caused crises in all fields in which the human race develops. This manuscript reviews various strategies and models developed to deal with the effects of the COVID-19 pandemic generated in different areas, such as vaccine logistics, energy consumption, environmental impact, economic impact, and the management of medical resources. Through this review, it can be observed how the proposed strategies can be compatible with each other and can lead to a greater benefit if they are used together. Some of them are designed to obtain short-term benefits (such as vaccine logistics), while the others are considered long-term benefits (such as economic stabilization). The main objective of this work is to show the reader strategies already established to combat the effects produced by the pandemic that can serve as a guide for the development of new and more robust strategies to achieve greater benefits.

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Covid-19 shock: Development of strategic management framework for global energy

Cited by 52 publications

References 55 publications

Is the Alternative Energy Sector COVID-19 Resistant? Comparison with the Conventional Energy Sector: Markov-Switching Model Analysis of Stock Market Indices of Energy Companies

Is the Alternative Energy Sector COVID-19 Resistant? Comparison with the Conventional Energy Sector: Markov-Switching Model Analysis of Stock Market Indices of Energy Companies

Socio-economic and corporate factors and COVID-19 pandemic: a wake-up call

Use of Mathematical Approaches for Addressing COVID-19 Pandemic — a Critical Review

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