Yes / This paper analyses the impact of geopolitical risk on carbon dioxide (CO2) emissions inequality in the panel dataset of 38 developed and developing economies from 1990 to 2019. At this juncture, the empirical models control for the effects of globalisation, capital-labour ratio, and per capita income on CO2 emissions inequality. The panel cointegration tests show a significant long-run relationship among the related variables in the empirical models. The panel data regression estimations indicate that geopolitical risk, capital-labour ratio, and per capita income increase CO2 emissions inequality. However, globalisation negatively affects CO2 emissions inequality in the panel dataset of 38 developed and developing countries. The pairwise panel heterogeneous causality test results align with these benchmark results and indicate no reverse causality issue. Potential policy implications are also discussed. / The authors acknowledge the grant from the Major Project of Philosophy and Social Science Research in Colleges (Grant Number: 2023SJZD027).

This paper examines the capital - asset pricing model (CAPM) which has been extended with a factor for geo-political risk. I use monthly stock return data for all stocks listed on a major US exchange from January 1990 to December 2016 and utilize a Fama-Macbeth Regression with Newey-West standard errors to test the geo-political augmented Sharpe-Lintner CAPM. The paper first determines if increased sensitivity to geopolitical risk lead s to lower average returns and second assesses if geo-political risk as an explanatory variable is a significant enough to expose a failure of the CAPM to capture expected returns fully through beta. The results of our regressions do not confirm the hypothesis that firms with high sensitivities to geo-political risk have expressly different returns in the long run. Furthermore, our Fama-Macbeth regression does not find expressly significant average slopes for geo-political risk as a variable.