原油价格、清洁能源投资、科技公司和能源民主之间的关系

IF 5.5 Q1 BUSINESS, FINANCE

Green Finance Pub Date : 2021-01-01 DOI:10.3934/gf.2021017

Caner Özdurak

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引用次数: 13

摘要

在本研究中，我们考察了原油价格、清洁能源投资、科技公司和能源民主之间的关系。我们的数据集包含四个变量，分别是标准普尔全球清洁能源指数(SPClean)、布伦特原油期货(Brent)、芝加哥期权交易所波动率指数(VIX)和纳斯达克100科技板块(DXNT) 2009年至2021年间的每日价格。本研究的新颖之处在于，我们将技术发展和市场恐惧作为重要因素，并评估了它们对清洁能源投资的影响。利用DCC-GARCH模型分析了市场恐惧、油价和科技公司股票回报对清洁能源投资的溢出影响。根据我们的研究结果，当油价下跌时，波动率指数通常以上升为反应，这意味着市场害怕油价飙升。在此期间，随着油价走势，可再生能源投资也趋于减少。此外，科技股与可再生能源股收益之间也存在正相关关系。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Nexus between crude oil prices, clean energy investments, technology companies and energy democracy

In this study, we examine the nexus between crude oil prices, clean energy investments, technology companies, and energy democracy. Our dataset incorporates four variables which are S & P Global Clean Energy Index (SPClean), Brent crude oil futures (Brent), CBOE Volatility Index (VIX), and NASDAQ 100 Technology Sector (DXNT) daily prices between 2009 and 2021. The novelty of our study is that we included technology development and market fear as important factors and assess their impact on clean energy investments. DCC-GARCH models are utilized to analyze the spillover impact of market fear, oil prices, and technology company stock returns to clean energy investments. According to our findings when oil prices decrease, the volatility index usually responds by increasing which means that the market is afraid of oil price surges. Renewable investments also tend to decrease in that period following the oil price trend. Moreover, a positive relationship between technology stocks and renewable energy stock returns also exists.

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来源期刊

Green Finance Multiple-

CiteScore

9.60

自引率

3.50%

发文量

审稿时长

6 weeks

期刊介绍： Green Finance is an international, interdisciplinary Open Access journal dedicated to green finance, environmental, and sustainability research and practice. It offers a platform for publishing original contributions and technical reviews on green finance and related topics, following a rigorous peer-review process. Accepted article types include original research, reviews, editorials, letters, and conference reports.