Matches in SemOpenAlex for { <https://semopenalex.org/work/W2523366854> ?p ?o ?g. }
- W2523366854 abstract "In this study we investigate how the publication of verified emissions in the European Emissions Trading Scheme (EU ETS) affected stock prices of covered companies. Based on a unique sample of 368 listed companies located in 25 countries, the event study demonstrates that 2 out of 6 publication events over the period 2006-2011 resulted in statistically significant market responses. The two significant events were the first publication of verified emissions in the first phase, a pilot period that ran from 2005 to 2007, and the first publication in the second phase, coinciding with the Kyoto Protocol commitment period and comprising the years 2008 to 2012. These findings indicate that investors value particularly the information revealed at the first verification event of each EU ETS phase and that subsequent verification events are less informative. The cross-section analysis of abnormal returns surrounding the publication of verified emission does not yield consistent results. While the analysis of the first publication in the first phase provides insignificant results, we find a significant negative correlation between the market reaction and the level of unexpected verified emissions during the first publication in the second phase. This negative relationship is found to be significantly stronger for carbon-intensive firms. These different results suggest that investors’ perception towards emission allowances has changed between the first and second phase." @default.
- W2523366854 created "2016-09-30" @default.
- W2523366854 creator A5009507327 @default.
- W2523366854 creator A5025938050 @default.
- W2523366854 creator A5033547839 @default.
- W2523366854 creator A5076565288 @default.
- W2523366854 date "2013-10-04" @default.
- W2523366854 modified "2023-09-25" @default.
- W2523366854 title "The impact of EU ETS verification events on stock prices" @default.
- W2523366854 cites W1490731862 @default.
- W2523366854 cites W1511159379 @default.
- W2523366854 cites W1592157150 @default.
- W2523366854 cites W1628464913 @default.
- W2523366854 cites W170161290 @default.
- W2523366854 cites W1920581180 @default.
- W2523366854 cites W1982366396 @default.
- W2523366854 cites W2006536795 @default.
- W2523366854 cites W2008057223 @default.
- W2523366854 cites W2009641475 @default.
- W2523366854 cites W2010997253 @default.
- W2523366854 cites W2017664370 @default.
- W2523366854 cites W2018299604 @default.
- W2523366854 cites W2023155260 @default.
- W2523366854 cites W2028513078 @default.
- W2523366854 cites W2033910434 @default.
- W2523366854 cites W2038816386 @default.
- W2523366854 cites W2040126491 @default.
- W2523366854 cites W2058717750 @default.
- W2523366854 cites W2066749108 @default.
- W2523366854 cites W2073932459 @default.
- W2523366854 cites W2077127915 @default.
- W2523366854 cites W2079479286 @default.
- W2523366854 cites W2083228694 @default.
- W2523366854 cites W2089822062 @default.
- W2523366854 cites W2096735869 @default.
- W2523366854 cites W2111058671 @default.
- W2523366854 cites W2116988722 @default.
- W2523366854 cites W2120915820 @default.
- W2523366854 cites W2130162792 @default.
- W2523366854 cites W2130284719 @default.
- W2523366854 cites W2134425656 @default.
- W2523366854 cites W2141334405 @default.
- W2523366854 cites W2150921369 @default.
- W2523366854 cites W2162562101 @default.
- W2523366854 cites W2166816930 @default.
- W2523366854 cites W2272908325 @default.
- W2523366854 cites W3121646650 @default.
- W2523366854 cites W3123073555 @default.
- W2523366854 cites W3123323760 @default.
- W2523366854 cites W3123486668 @default.
- W2523366854 cites W3123523811 @default.
- W2523366854 cites W3123704485 @default.
- W2523366854 cites W3123986673 @default.
- W2523366854 cites W3124020680 @default.
- W2523366854 cites W3125157356 @default.
- W2523366854 cites W3125388332 @default.
- W2523366854 cites W3125609846 @default.
- W2523366854 cites W2439915127 @default.
- W2523366854 hasPublicationYear "2013" @default.
- W2523366854 type Work @default.
- W2523366854 sameAs 2523366854 @default.
- W2523366854 citedByCount "0" @default.
- W2523366854 crossrefType "journal-article" @default.
- W2523366854 hasAuthorship W2523366854A5009507327 @default.
- W2523366854 hasAuthorship W2523366854A5025938050 @default.
- W2523366854 hasAuthorship W2523366854A5033547839 @default.
- W2523366854 hasAuthorship W2523366854A5076565288 @default.
- W2523366854 hasConcept C100405246 @default.
- W2523366854 hasConcept C121332964 @default.
- W2523366854 hasConcept C127413603 @default.
- W2523366854 hasConcept C12958728 @default.
- W2523366854 hasConcept C143724316 @default.
- W2523366854 hasConcept C144133560 @default.
- W2523366854 hasConcept C149782125 @default.
- W2523366854 hasConcept C151730666 @default.
- W2523366854 hasConcept C162324750 @default.
- W2523366854 hasConcept C166957645 @default.
- W2523366854 hasConcept C18903297 @default.
- W2523366854 hasConcept C198531522 @default.
- W2523366854 hasConcept C204036174 @default.
- W2523366854 hasConcept C205649164 @default.
- W2523366854 hasConcept C2779343474 @default.
- W2523366854 hasConcept C2780299701 @default.
- W2523366854 hasConcept C2988984586 @default.
- W2523366854 hasConcept C2993946284 @default.
- W2523366854 hasConcept C47737302 @default.
- W2523366854 hasConcept C78519656 @default.
- W2523366854 hasConcept C86803240 @default.
- W2523366854 hasConcept C97355855 @default.
- W2523366854 hasConcept C99743013 @default.
- W2523366854 hasConceptScore W2523366854C100405246 @default.
- W2523366854 hasConceptScore W2523366854C121332964 @default.
- W2523366854 hasConceptScore W2523366854C127413603 @default.
- W2523366854 hasConceptScore W2523366854C12958728 @default.
- W2523366854 hasConceptScore W2523366854C143724316 @default.
- W2523366854 hasConceptScore W2523366854C144133560 @default.
- W2523366854 hasConceptScore W2523366854C149782125 @default.
- W2523366854 hasConceptScore W2523366854C151730666 @default.
- W2523366854 hasConceptScore W2523366854C162324750 @default.
- W2523366854 hasConceptScore W2523366854C166957645 @default.