THE DEPENDENCE OF CLEAN ENERGY STOCK PRICES ON THE OIL AND CARBON PRICES: A NONLINEAR PERSPECTIVE
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Tarih
2022
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Editura Ase
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Climate change, rising environmental concerns increased scholar's awareness of the complex ties between clean energy stock prices and various environmental indicators. A clearer understanding of the potential ties between indicators and clean energy stock prices is critical for determining the financial performance of clean energy companies. This study adds to the literature by testing the existence of the long-run relationship between clean energy stock prices, and oil prices, carbon prices, technology stock prices, and interest rates by considering nonlinearity in the context of a structural change. The results show the existence of the cointegration relationship. The results of long-run estimation show that before the structural break date, technology stock prices, oil prices, and interest rates positively affect clean energy stock prices, and after this date, the effects of carbon prices and interest rates are reversed. Our results present some implications for both investors and policymakers.
Açıklama
Anahtar Kelimeler
Clean Energy Stock Prices, Nonlinearity, Structural Change, Carbon Prices, Oil Prices
Kaynak
Economic Computation and Economic Cybernetics Studies and Research
WoS Q Değeri
Q4
Scopus Q Değeri
Q3
Cilt
56
Sayı
2
