Does the price of oil interact with clean energy prices in the stock market?

Managi, Shunsuke; Okimoto, Tatsuyoshi

doi:10.1016/j.japwor.2013.03.003

Cited by 304 publications

(150 citation statements)

References 41 publications

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“…He believes that as income grows, people's willingness to pay for environmental abatement will also increase, along with their growing awareness of the need to improve environmental quality. Kumar et al (2012) and Managi and Okimoto (2013) find that people's attitude toward the environment can also be influenced by incidental events such as a surge in oil prices. They show a positive relationship between oil prices and clean energy firms' stock prices, suggesting that consumer preferences for clean energy and technology increase as oil prices increase.…”

Section: Literature Reviewmentioning

confidence: 99%

The environmental Kuznets curve in Indonesia: Exploring the potential of renewable energy

2016

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There is an increasing interest in investigating the environmental Kuznets curve (EKC) hypothesis because it suggests the existence of a turning point in the economy that will lead to a sustainable development path. Although many studies have focused on the EKC, only a few empirical studies have focused on analyzing the EKC with specific reference to Indonesia, and none of them have examined the potential of renewable energy sources within the EKC framework. This study attempts to estimate the EKC in the case of Indonesia for the period of 1971-2010 by considering the role of renewable energy in electricity production, using the autoregressive distributed lag (ARDL) approach to cointegration as the estimation method. We found an inverted U-shaped EKC relationship between economic growth and CO2 emissions in the long run. The estimated turning point was found to be 7,729 USD per capita, which lies outside of our sample period. The beneficial impacts of renewable energy on CO2 emission reduction are observable both in the short run and in the long run. Our work has important implications both for policymakers and for the future development of renewable energy in Indonesia.

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Section: Literature Reviewmentioning

confidence: 99%

The environmental Kuznets curve in Indonesia: Exploring the potential of renewable energy

2016

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“…from the turn of the millennium until the global financial crisis (see Henriques and Sadorsky 2008;Kumar et al 2012;Bohl et al 2015;Sadorsky 2012;Inchauspe et al 2015;Bohl et al 2013;Managi and Okimoto 2013). The worsening state of the global economy thereafter lands the industry in substantial difficulties.…”

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confidence: 99%

European Green Mutual Fund Performance: A Comparative Analysis with their Conventional and Black Peers

2015

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We conduct the first comparative analysis of the financial performance of European green, black (fossil energy and natural resource) and conventional mutual funds. Based on a unique dataset of 175 green, 259 black and 976 conventional mutual funds, the investigation contrasts the financial performance of the three dissimilar investment orientations over the 1991-2014 period. Over the full sample period, green mutual funds significantly underperform relative to conventional funds, while no significant risk-adjusted performance differences between green and black mutual funds could be established during the same period. Environmentally friendly investment vehicles display a significant exposure to small cap and growth stocks, while black funds are more exposed to value stocks. Remarkably, the green funds' risk-adjusted return profile progressively improves over time until no difference in the performance of the green and the conventional classes could be discerned. Further evidence suggests that the green funds are beginning to significantly outperform their black peers, especially over the 2012-2014 investment window.JEL classification: F30, G11, G15, G23, M14

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“…Other studies are focused on the economic performances of the companies producing various types of renewable energy on the stock market [21,22]. Other types of analysis, such as the Bohl et al study [23], could not be replicated for the Romanian market since there are a few companies operating in the renewable energy sector that are listed on the stock exchange.…”

Section: Introductionmentioning

confidence: 99%

Sustainability and Economic Performance of the Companies in the Renewable Energy Sector in Romania

Bușu

Nedelcu

2017

Sustainability

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Abstract:In this paper, we focus on the sustainability and economic performance of the renewable energy sector of Romania. In our analysis, we have used Total Quality Management (TQM) model, which is an economic modern tool used for improving the quality of management for all companies. The aim of this study is to bring into discussion the conceptualized TQM model of Edward Deming underlying different stages of its evolution as it is described in the economic literature. Conceptual model is applied in a case study of the renewable energy sector of Romania. The quantitative research evaluates the impact of the total quality management to achieve the sustainable development, performance objectives and the competitive advantage of the companies in the renewable energy sector. Data was collected through a survey and the questionnaire was addressed to the management and employees in the renewable energy sector. Structural equation modelling (SEM) was used and the hypotheses were tested by partial least square (PLS) equations. Data was analyzed through the Smart PLS 3 software. The main contribution of this paper is to identify and evaluate the relationship among sustainable development, economic performance of the companies and TQM model indicators. The conclusions of our research are in line with the existing literature and confirm the theoretical assumptions, underlining the fact that the undertaking's performance and sustainable development is a direct consequence of the combination among a series of factors like decisional power quality, motivated workforce as well as integrity of operational process.

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Does the price of oil interact with clean energy prices in the stock market?

Cited by 304 publications

References 41 publications

The environmental Kuznets curve in Indonesia: Exploring the potential of renewable energy

The environmental Kuznets curve in Indonesia: Exploring the potential of renewable energy

European Green Mutual Fund Performance: A Comparative Analysis with their Conventional and Black Peers

Sustainability and Economic Performance of the Companies in the Renewable Energy Sector in Romania

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