Financial performance of renewable energy producers: A panel data analysis from the Baltic Sea Region

Dopierała, Łukasz; Mosionek-Schweda, Magdalena; Laskowicz, Tomasz; Ilczuk, Daria

doi:10.1016/j.egyr.2022.09.009

Cited by 9 publications

(4 citation statements)

References 51 publications

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“…In conclusion, the effect of the bias correction on the scaled LM statistic is small when N and T are comparable in magnitude. In contrast, the test statistic value of the Pesaran CD test is much lower than that of the scaled LM test in both developing and developed countries (6.282 and 10.527, respectively), but it still rejects the null at conventional significance levels, suggesting that it may be more useful to focus on these results (Gander, 2013;Dopierała et al, 2022). Thus, we use Fully modified ordinary least squares (FMOLS) together with random effect (RE), fixed effect (EF), and quantile regression (Q25, Q50, and Q75).…”

Section: Methodsmentioning

confidence: 89%

Comparing the effects of agricultural intensification on CO2 emissions and energy consumption in developing and developed countries

Khan

Alabsi

Muda

2023

Front. Environ. Sci.

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Energy consumption has become a requirement in the modern world, and without it, the economies of developing nations cannot prosper. Consistent economic growth is a challenge for countries of all economic levels, not just the less developed ones. We test the EKC hypothesis by analyzing the relationships between GDP growth, energy consumption, agricultural output, and the consequences of carbon dioxide (CO2) emissions. From 1991 to 2016, we used panel and quantile regression analysis to compare emissions in nine developing countries with those in 13 developed countries. There is the beginning of a reverse U-shaped relationship between agricultural energy use and greenhouse gas emissions. As a result, the verified EKC hypothesis paves the way for a watershed moment in the progress of industrialized nations’ economies. As an added bonus, agricultural results have a positive impact on CO2 emissions from using liquid fuels. It has a negative impact on CO2 emissions by 19.12% and causes a 4.802 percent increase in environmental degradation. Feed cropping, deforestation, biomass burning, and deep soil and cropping also have negative effects on the environment, especially in developing countries. There is a negative correlation between CO2 emissions and economic growth in developing countries and their energy consumption. Although the EKC hypothesis for CO2 emissions was rejected at lower quantiles, it was validated for Qatar, Canada, China, and other high-emitting economies according to the empirical estimation of quantile regression. The findings of this study have important policy implications for reducing carbon dioxide emissions, suggesting that policymakers account for the stage of economic growth currently being experienced when formulating measures to cut energy use and protect the environment. In particular, policies aimed at reducing energy consumption could.

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Section: Methodsmentioning

confidence: 89%

Comparing the effects of agricultural intensification on CO2 emissions and energy consumption in developing and developed countries

Khan

Alabsi

Muda

2023

Front. Environ. Sci.

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“…All variables are winsorized at the 5% and 95% levels to mitigate the impact of outliers using STATA software. The choice of proxies for each variable is as follows: This study explores the moderating effect of firm age, which is incorporated into the following formula for analysis: This study uses asset growth, ROE, and ROA as the proxies for firm performance (Dopierała et al 2022;Egorova, Grishunin, and Karminsky 2022). The dependent variable, firm growth, is measured using three different proxies in accordance with firm growth literature: Firstly, asset growth is used as the firm growth proxy, as firms grow by first acquiring assets (Lefebvre 2023), and assets bring in profits from increased sales volume (Theodore and Lindberg 1978).…”

Section: Data Descriptionmentioning

confidence: 99%

“…Sources:McFaddin and Clouse 1993;Kaplan and Zingales 1997;Whited and Wu 2006;Çoban 2014;Coad 2018;Regasa et al 2019;Haran et al 2021;Dopierała et al 2022. …”

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Financial Constraints on Firm Growth: The Role of Firm Age in the ASEAN–6

Ling Ng,

Theng Lau,

Ni Soh

et al. 2024

CER

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The paper assesses the moderating role of firm age in the relationship between financial constraints, as measured by the KZ index, and the WW index on three alternative measures of firm growth (Asset growth, ROA, and ROE) in the ASEAN–6 region. This study employs a sample of ASEAN–6 listed firms over the period 2009–2019 using Fixed Effects and the System GMM model. Firm age is found to interact positively with financial constraints in their effects on firm growth. The negative impact of financial constraints on firm growth is less severe with older age firms.

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“…For this purpose, we performed estimation using random effects models. This approach is often found in the literature as a way to test the robustness of results, especially when the signs of the estimated time-varying parameters and their statistical significance are more important for the inference than their exact values [ 90 , 91 ]. The results of the model estimation for the dependent variable ROAA are presented in Table 9 , and for the dependent variable ROAE in Table 10 .…”

Section: Robustness Checks and Alternative Specificationsmentioning

confidence: 99%

Is the profitability of Islamic and conventional banks driven by the same factors?—A study of banking in the Middle East

Sobol,

Dopierała,

Wysiński

2023

PLoS ONE

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The purpose of this paper is to contribute to the existing literature by investigating the determinants of the profitability of Islamic and conventional banks in the Middle East region and revealing the most important factors for these two types of banks. Few papers have studied the performance of Islamic banks and compared their performance with conventional banks. The results from these limited research papers are also various, mainly because the sample sizes are small, or they have analysed data only from one country. Our research used a fixed effect panel data analysis on a sample of 270 banks (111 Islamic and 159 conventional banks) from 12 Middle East countries. We used an unbalanced annual panel of data covering the period 2012–2020. The results show that bank size, equity to assets, annual GDP growth, and annual average oil price have a significant positive effect on Islamic banks’ profitability, while non-performing loans to total gross loans and cost of running operations to operating income have a significant negative effect on both bank types. The results also show that non-performing loans to total gross loans and annual GDP growth contribute more to conventional banks profitability, while oil price contributes only to Islamic banks performance. Inflation and net loans to total assets have no effect on bank profitability for either Islamic or conventional banks. Furthermore, we also found that the Islamic banking industry had a more competitive structure. Our findings have important implications for managers, policy makers, investors and other stakeholders. They can help them to make decisions regarding investments, plans, budgeting, evaluation and the management of business operations.

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Financial performance of renewable energy producers: A panel data analysis from the Baltic Sea Region

Cited by 9 publications

References 51 publications

Comparing the effects of agricultural intensification on CO2 emissions and energy consumption in developing and developed countries

Comparing the effects of agricultural intensification on CO2 emissions and energy consumption in developing and developed countries

Financial Constraints on Firm Growth: The Role of Firm Age in the ASEAN–6

Is the profitability of Islamic and conventional banks driven by the same factors?—A study of banking in the Middle East

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