Download Carbon Finance: How Carbon and Stock Markets are affected by by Yulia Veld-Merkoulova, Svetlana Viteva PDF

By Yulia Veld-Merkoulova, Svetlana Viteva

Maximizing reader insights into the methodologies and state-of-the-art learn in regards to the monetary points of carbon markets, this booklet analyzes the commercial and fiscal results of carbon buying and selling and laws at the inventory industry costs of person businesses in addition to the joint results of laws and of the costs of oil and gasoline at the costs and volatility of the traded carbon securities.

Show description

Read Online or Download Carbon Finance: How Carbon and Stock Markets are affected by Energy Prices and Emissions Regulations PDF

Similar oil & energy books

Selling solar: the diffusion of renewable energy in emerging markets

To resolve the weather quandary, the realm needs to make a wholesale shift to renewable power applied sciences. For the industrialized global, it really is crucial. yet with surging development in rising markets, this change takes on even higher urgency. The demanding situations - and possibilities - are large. promoting sun considers how this kind of shift may possibly occur.

Oil and Ideology: The Cultural Creation of the American Petroleum Industry

Conventional debts of John D. Rockefeller and the normal Oil corporation, in addition to contemporary best-selling books at the topic, nonetheless settle for with no query fees of unethical and anti-competitive habit through the yank oil undefined. during this pathbreaking synthesis of cultural, enterprise, gender, and highbrow historical past, Roger and Diana Davids Olien discover how this unfavourable snapshot of the petroleum used to be created—and how this snapshot in flip contributed to shaping coverage towards the in ways in which have been occasionally at odds with either the pursuits of reformers and the general public curiosity.

Fueling Up: The Economic Implications of America's Oil and Gas Boom

New drilling ideas for oil and ordinary fuel are propelling an power construction renaissance within the usa. because the US economic climate struggles to emerge from the nice Recession, many see the increase as a potential resource of monetary salvation that can lessen unemployment and revitalize American production.

Power Politics in Asia’s Contested Waters: Territorial Disputes in the South China Sea

This quantity deals a finished and empirically wealthy research of local maritime disputes within the South China Sea (SCS). through discussing very important points of the increase of China’s maritime energy, reminiscent of territorial disputes, altered perceptions of geo-politics and demanding situations to the US-led nearby order, the authors exhibit nearby strength shift is happening in Asia-Pacific.

Additional info for Carbon Finance: How Carbon and Stock Markets are affected by Energy Prices and Emissions Regulations

Sample text

In addition to our concerns about introducing such correlated variables in the analysis, we question the relevance of these variables as EUA price determinants altogether. For instance, a switch between energy generation sources may occur even though carbon price may be below its “switch” level, if energy demand is so high that both coal- and gas-fired units need to be running to meet the demand (Delarue and D’haelseleer 2007). A problem with the use of spreads as carbon price drivers is that due to their different efficiencies, power plants will switch from coal- to gas-fired units at different EUA prices.

Use of implied volatility in our tests is supported by results of Viteva, Veld-Merkoulova and Campbell (2014) that implied volatility of carbon options has high information content. Implied volatility is derived from options with the nearest December expiration. Only options with at least 10 days left until maturity on the event day are considered (Donders and Vorst 1996). In addition, all options in which no trading takes place during the entire 10-day period around a given announcement are discarded from the sample.

First, there can be no same-day announcements which belong to different categories. For example, on 15 December 2006 the Netherlands notified the EC of additional information to their already submitted Phase II NAP while Italy submitted its plan for the first time. Because the impact of each announcement cannot be measured accurately, December 15 is not considered as an event day. The second criterion which we impose aims to improve the robustness of the event study results. Events which have other announcements on the previous or following day are removed in order to minimize confounding influences.

Download PDF sample

Rated 4.78 of 5 – based on 34 votes