Stock prices of clean energy firms, oil and carbon markets: A vector autoregressive analysis

Surender Kumar, Shunsuke Managi, Akimi Matsuda

Research output: Contribution to journalArticle

105 Citations (Scopus)

Abstract

Recent discussions of energy security and climate change have attracted significant attention to clean energy. We hypothesize that rising prices of conventional energy and/or placement of a price on carbon emissions would encourage investments in clean energy firms. The data from three clean energy indices show that oil prices and technology stock prices separately affect the stock prices of clean energy firms. However, the data fail to demonstrate a significant relationship between carbon prices and the stock prices of the firms.

Original languageEnglish
Pages (from-to)215-226
Number of pages12
JournalEnergy Economics
Volume34
Issue number1
DOIs
Publication statusPublished - Jan 1 2012
Externally publishedYes

Fingerprint

Energy security
Carbon
Climate change
Oils
Stock prices
Vector autoregressive
Carbon markets
Energy
Oil markets

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics
  • Energy(all)

Cite this

Stock prices of clean energy firms, oil and carbon markets : A vector autoregressive analysis. / Kumar, Surender; Managi, Shunsuke; Matsuda, Akimi.

In: Energy Economics, Vol. 34, No. 1, 01.01.2012, p. 215-226.

Research output: Contribution to journalArticle

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