This study endeavors to explore the shock-transmission mechanism between Trade Policy Uncertainty (TPU) and the volatility inherent in the Gulf Cooperation Council (GCC) Islamic stock markets by employing the novel Quantile Vector Auto Regression (QVAR) with “Extended Joint” and “Frequency” domain connectedness technique. Overall findings indicated a U-shaped pattern in the shock-transmission mechanism with the higher TPU shocks transmitted towards Islamic stock market volatility at the extreme quantiles and in the long term. The “Extended Joint” QVAR connectedness approach highlights that, in bearish and moderate-volatility conditions (τ = 0.05, 0.50), diversifying portfolios across less shock-prone equity markets like Qatar and UAE can mitigate risk exposure to TPU shocks. Specific economies receiving higher TPU shocks, like Bahrain, Kuwait, and Saudi Arabia, should implement strategic frameworks, including trade credit insurance and currency hedging, for risk reduction in trade policy shocks during the bearish and moderate-volatility conditions. Conversely, Qatar and Kuwait show the least transmission of error variance from TPU during higher-volatility conditions (τ = 0.95). Moreover, the application of the Frequency-domain QVAR technique underscores the need for short-term speculators to exercise increased vigilance during bearish and bullish volatile periods, as TPU shocks can exert a more substantial influence on the Islamic equity market volatility of Bahrain, Oman, Kuwait, and Saudi Arabia. Long-term investors may need to tailor their asset-allocation strategies by increasing allocations to more stable assets that are less susceptible to TPU shocks, such as Qatar, during bearish (τ = 0.05), moderate (τ = 0.50), and bullish (τ = 0.95) volatility.

Energy consumption (ECON) in BRICS countries is fueled by fossil fuels, mainly coal. Increased environmental degradation (ED) in BRICS countries is mostly driven by coal consumption. This study utilizes quantile regression for the analysis, enabling the development of targeted energy reorganization and emission reduction policies in BRICS countries. This study uses data spanning from 1990 to 2022 to explore the impact of ECON on ED. Additionally, technological innovation was used to create a moderating role in the nexus between ECON and ED. The model focuses on CO₂ emissions and the ecological footprint across ten BRICS countries. Among the nations included in the panel, the results indicate a significant dependence on cross-sectional factors. The study shows that ECON has a detrimental impact on ED across all quantiles. However, technological innovation reduces ED. In terms of a moderating role, technological innovation mitigates the negative influence of ECON on ED. Therefore, it is necessary to implement distinct policies in order to accomplish carbon emission reduction goals in various countries.

This study examines the short- and long-term effects of multiple quantiles of forward exchange rate premiums (FERPs) and COVID-19 cases on the quantiles of stock market returns (SMRs). We extend the Quantile Autoregressive Distributive Lag (QARDL) model, and the Multiple Threshold Non-linear Autoregressive Distributive Lag (NARDL) model propose a new Multiple Threshold Quantile Autoregressive Distributive Lag (MT-QARDL) approach. Unlike MT-NARDL, QARDL, and NARDL, the MT-QARDL model, which integrates the MT-NARDL model and the quantile regression methodology, captures both short- and long-term locational and sign-based asymmetries. For instance, at lower quantiles for Indian and Sri Lankan SMRs, bearish FERP exerts a positive influence, while bullish FERP has a negative effect during COVID-19. Conversely, bullish FERP negatively affects lower quantiles of SMRs of Bangladesh, India, and Sri Lanka, whereas bearish FERP either yields an opposite effect or remain statistically insignificant during COVID-19. The findings underscore long-term sign-based asymmetries due to the differential bearish and bullish FERP impact during COVID-19. However, in the long term, location-based asymmetries also existed as bullish FERP negative influence the SMRs of India, Bangladesh and Sri Lanka at higher quantiles but SMRs at lower quantiles insignificantly respond to the bullish FERP fluctuations during COVID-19.

It is necessary to ensure the thorough transition of energy dependency from fossil fuels to renewable energy as it is the sustainable source of energy. In this view, the study aims to explore the impact of digital transformation (DTR) on renewable energy adoption (REA). The analysis was set on the dataset of middle east countries over the span of 1999–2023. For checking the relationship, the study mainly considers the CS-ARDL model and proceeds with FMOLS model for robustness analysis. The findings infer that DTR positively influence the REA. This can be explained as DTR ensures the smooth flow of energy, internet of things, and better management of energy production and consumption. All these factors pave the way towards the transition of renewable energy. In addition, the analysis discloses the positive effect of FDI inflow, government effectiveness, and economic growth whilst urbanization negatively influence the REA. This research is novel because it thoroughly examines how institutional technological and economic factors influence REA in the Middle East, an area where there are currently few studies of this kind. The study’s conclusions give decision-makers doable plans to boost the regions sustainable development objectives and hasten the adoption of renewable energy.

This study analyzes how sectoral stock volatility in the GCC region responds to global financial uncertainty shocks originating from the U.S. (CBOE VIX), Europe (VSTOXX-50), Bitcoin investors’ Sentiment Indices (BSI), and disaggregated global Financial Stress Indicators (FSI) by using both the “Frequency” and “Time” domain TVP-VAR based connectivity approaches. The “Time” and “Frequency” domain TVP-VAR results indicate that the Energy, Financials, Materials and REIT sectors experience the highest shock spillover from the U.S. and European equity market uncertainty (VIX and VSTOXX-50) for the overall and long-term investment horizons. Whereas, all the five disaggregated global financial stress indicators and BSI transmit higher shocks spillovers towards the sectoral stock conditional volatility of Energy and Materials sectors for the overall and long-term investment horizons. Furthermore, the “Frequency” domain TVP-VAR approach shows that overall shocks spillovers are higher in long-term and intensified during the COVID-19 period. The Energy, Materials, and REIT sectors’ high sensitivity to U.S.VIX and Euro.VSTOXX-50 shocks calls for sector-specific hedging—such as sectors remain least susceptibility to long-term U.S. and European equity risk shocks such as Utility. Over the long-term and overall investment horizons, the Energy and Material sectors’ position as the main shock recipient from all five global financial stress components and the BSI underscores its role as a volatility hub. Policymakers should enforce stress tests and capital buffers for energy and material focused firms, while proactive liquidity management and commodity hedging are vital during global financial stress and BSI spikes to limit funding and operational risks.

The study aims to analyze a comparative analysis of the pricing of the Ijara (Lease) product ending with ownership in four Islamic banks operating in Jordan, namely: Jordan Islamic Bank, Safwa Islamic Bank, Islamic International Arab Bank, and Al Rajhi Bank, where the data was collected through personal interviews with a sample of facilities staff in the four banks who have experience in dealing with the Ijara product ending with ownership, and the data was analyzed using (Excel) For each bank, the rate of return on Ijara, the stability of the return, the amount of mutual insurance, the administrative fees, the grant commission, the internal rate of return (IRR), the possibility of early repayment with deduction from the remaining returns, and the pros, cons and common factors between the four banks were compared. The study found that the Ijara product ending with ownership in Jordanian Islamic banks varies greatly in terms of terms and advantages, and although there are some positives, there is a need for more uniformity and transparency in the provision of this product, and the study recommended that customers should carefully compare different offers before choosing the right bank, negotiate with banks for better terms, and the need to be familiar with the terms of the contract before signing, and develop a financial plan Studied before requesting financing, while ensuring the ability to pay installments regularly, and recommended banks to diversify banking products and apply the fourth form of transfer of ownership (gradual lease contract) because it achieves justice for the parties to the contract and is free from Deception (Gharar) against the tenant.