Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2021.112190 |
Chasing the ‘green bandwagon’ in times of uncertainty | |
Catalin Dragomirescu-Gaina, Emilios Galariotis, Dionisis Philippas | |
2021-02-15 | |
发表期刊 | Energy Policy
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出版年 | 2021 |
英文摘要 | The transition to a low-carbon economy poses significant challenges for investors in energy markets, entailing higher uncertainty and not just higher risks. On the back of the ongoing greening in investment preferences, we focus on investors' group behaviour with respect to U.S. energy equities, which lie at the crossroads in this energy transition phase from an old technology that relies heavily on oil, to a new, greener one. Based on a dynamic herding metric, we find that changes in investors' behaviour with respect to green asset allocations require a better information set than in the case of crude oil allocations, for which only information on returns is a relevant driver of behaviour. We argue that policy uncertainty is better than financial risk proxies in reflecting the multidimensional nature of uncertainty and the various risks associated with investing in green energy today. Our findings suggest the need to reduce uncertainty stemming from the policy realm, given its raising impact on investors’ portfolios on the back of higher allocations towards greener assets. |
领域 | 气候变化 |
URL | 查看原文 |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/315583 |
专题 | 气候变化 |
推荐引用方式 GB/T 7714 | Catalin Dragomirescu-Gaina, Emilios Galariotis, Dionisis Philippas. Chasing the ‘green bandwagon’ in times of uncertainty[J]. Energy Policy,2021. |
APA | Catalin Dragomirescu-Gaina, Emilios Galariotis, Dionisis Philippas.(2021).Chasing the ‘green bandwagon’ in times of uncertainty.Energy Policy. |
MLA | Catalin Dragomirescu-Gaina, Emilios Galariotis, Dionisis Philippas."Chasing the ‘green bandwagon’ in times of uncertainty".Energy Policy (2021). |
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