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2012-10 Does the Carbon Market Help or Hurt the Stock Price of Electricity Companies? Further Evidence from the European Context

Author

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  • Yuan Tian
  • Alexandr Akimov
  • Eduardo Roca
  • Victor Wong

Abstract

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Suggested Citation

  • Yuan Tian & Alexandr Akimov & Eduardo Roca & Victor Wong, "undated". "2012-10 Does the Carbon Market Help or Hurt the Stock Price of Electricity Companies? Further Evidence from the European Context," Discussion Papers in Finance finance:201210, Griffith University, Department of Accounting, Finance and Economics.
    • Handle: RePEc:gri:fpaper:finance:201210
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    File URL: https://research-repository.griffith.edu.au/bitstream/handle/10072/390439/2012-10-does-the-carbon-market-help-or-hurt-the-stock-price-of-electricity-companies.pdf
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    Citations

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    Cited by:

    1. Zhu, Bangzhu & Han, Dong & Chevallier, Julien & Wei, Yi-Ming, 2017. "Dynamic multiscale interactions between European carbon and electricity markets during 2005–2016," Energy Policy, Elsevier, vol. 107(C), pages 309-322.
    2. Pilar Gargallo & Luis Lample & Jesús A. Miguel & Manuel Salvador, 2021. "Co-Movements between Eu Ets and the Energy Markets: A Var-Dcc-Garch Approach," Mathematics, MDPI, vol. 9(15), pages 1-36, July.
    3. Minggang Wang & Chenyu Hua & Hua Xu, 2022. "Dynamic Linkages among Carbon, Energy and Financial Markets: Multiplex Recurrence Network Approach," Mathematics, MDPI, vol. 10(11), pages 1-23, May.
    4. Jiménez-Rodríguez, Rebeca, 2019. "What happens to the relationship between EU allowances prices and stock market indices in Europe?," Energy Economics, Elsevier, vol. 81(C), pages 13-24.
    5. Pawel Witkowski & Adam Adamczyk & Slawomir Franek, 2021. "Does Carbon Risk Matter? Evidence of Carbon Premium in EU Energy-Intensive Companies," Energies, MDPI, vol. 14(7), pages 1-18, March.
    6. Rania Hentati-Kaffel & Alessandro Ravina, 2020. "The Impact of Low-Carbon Policy on Stock Returns," Post-Print hal-03045804, HAL.
    7. Fortune Ganda, 2018. "The influence of carbon emissions disclosure on company financial value in an emerging economy," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 20(4), pages 1723-1738, August.
    8. Chia-Lin Chang & Jukka Ilomäki & Hannu Laurila & Michael McAleer, 2018. "Moving Average Market Timing in European Energy Markets: Production Versus Emissions," Energies, MDPI, vol. 11(12), pages 1-24, November.
    9. Rania Hentati-Kaffel & Alessandro Ravina, 2020. "The Impact of Low-Carbon Policy on Stock Returns," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-03045804, HAL.
    10. Svetlana V. Doroshenko & Anna D. Mingaleva, 2020. "Carbon Exchanges: European Experience in Developing the Mechanism of Emission Permit Trading," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 52-68, August.
    11. Yanbin Li & Dan Nie & Bingkang Li & Xiyu Li, 2020. "The Spillover Effect between Carbon Emission Trading (CET) Price and Power Company Stock Price in China," Sustainability, MDPI, vol. 12(16), pages 1-17, August.
    12. Yang Liu & Xueqing Yang & Mei Wang, 2021. "Global Transmission of Returns among Financial, Traditional Energy, Renewable Energy and Carbon Markets: New Evidence," Energies, MDPI, vol. 14(21), pages 1-32, November.
    13. Fang Zhang & Hong Fang & Xu Wang, 2018. "Impact of Carbon Prices on Corporate Value: The Case of China’s Thermal Listed Enterprises," Sustainability, MDPI, vol. 10(9), pages 1-14, September.
    14. Yan, Kai & Zhang, Wei & Shen, Dehua, 2020. "Stylized facts of the carbon emission market in China," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 555(C).

    More about this item

    Keywords

    electricity stocks; carbon market; CO2; emissions trading; EU-ETS; GARCH;
    All these keywords.

    JEL classification:

    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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