Akademik Məlumat İdarəetmə Sistemi
Investment Analysts Journal, 2025 (SSCI)
The study investigates the impact of policy uncertainty–both climate and economic–on sustainable energy assets under various market conditions, including bearish, normal, and bullish scenarios, as well as across different investment horizons: short-, medium-, and long-term. The study introduces the Wavelet Cross-Quantile Regression (WCQR) method and focuses on monthly data spanning from January 1, 2011, to July 31, 2024, to capture dynamic associations. The results reveal that economic policy uncertainty negatively impacts sustainable energy assets in the short and medium terms, particularly in the lower quantiles, while showing modest positive effects in the upper quantiles. Conversely, climate policy uncertainty positively influences sustainable energy assets in the short term, especially in the upper quantiles. However, its impact diminishes in the medium term and turns negative in the lower quantiles over the long term. Based on these findings, targeted policy recommendations are proposed.