Nieh, Chien-chung; Yao, Hsueh-chu - In: Advances in management & applied economics 3 (2013) 2, pp. 179-192
between beta (systematic risk) and returns (world market excess returns) for net oil export and net oil import groups. We set … is low) and lower in the high regime (i.e., volatility of world market excess return is high). For the net oil export … positive in the low regime. For the net oil import group, in both the low and high regimes, changes in crude oil price and …