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Stochastic Income Statement Planning and Emissions Trading

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Author Info

  • Henry Dannenberg
  • Wilfried Ehrenfeld

Abstract

Since the introduction of the European CO2 emissions trading system (EU ETS), the development of CO2 allowance prices is a new risk factor for enterprises taking part in this system. In this paper, we analyze how risk emerging from emissions trading can be considered in the stochastic profit and loss planning of corporations. Therefore we explore which planned figures are affected by emissions trading. Moreover, we show a way to model these positions in a planned profit and loss account accounting for uncertainties and dependencies. Consequently, this model provides a basis for risk assessment and investment decisions in the uncertain environment of CO2 emissions trading.

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Bibliographic Info

Paper provided by Halle Institute for Economic Research in its series IWH Discussion Papers with number 4.

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Date of creation: Feb 2010
Date of revision:
Handle: RePEc:iwh:dispap:4-10

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Related research

Keywords: CO2; emissions trading; EU ETS; risk; stochastic business planning;

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Cited by:
  1. Wilfried Ehrenfeld, 2011. "Emissionsrechtemanagement mit dem „CO2-Navigator“," IWH Discussion Papers 19, Halle Institute for Economic Research.
  2. Wilfried Ehrenfeld, 2012. "Towards a Theory of Climate Innovation - A Model Framework for Analyzing Drivers and Determinants," IWH Discussion Papers 1, Halle Institute for Economic Research.
  3. Wilfried Ehrenfeld, 2012. "Klimawandel und betriebliche Innovationsprozesse," IWH Discussion Papers 13, Halle Institute for Economic Research.

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