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Oil Prices, Fossil-Fuel Stocks and Alternative Energy Stocks
Date
2015-07-01
Author
Gormus, Alper
Diltz, David
Soytaş, Uğur
Metadata
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This work is licensed under a
Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
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<p>As new alternative energy industries are created and old ones are revised, markets constantly try to interpret and adjust to those changes. The purpose of this study is to shed some light on the inner dynamics of the select outside price-shocks versus sector-specific energy companies. This study analyzes the inner dynamics (both short and long-term) of sub-sector energy company portfolios such as petroleum, coal, natural gas, solar, nuclear, wind, and biofuel with respect to each other as well as other asset markets commonly used in literature. In light of outside shocks, we find that some alternative energy companies behave like fossil-fuel companies, while others don’t. Interestingly petroleum companies give no significant short-term response to oil-price or exchange-rate shocks. Also, there is a significant relationship between gold price shocks and most energy sub-sectors in the long-run. The same relationship was not observed in the short-run. <br></p>
Subject Keywords
Oil prices
,
Alternative energy
URI
https://hdl.handle.net/11511/38974
Journal
International Journal of Economics and Finance
DOI
https://doi.org/10.5539/ijef.v7n7p43
Collections
Department of Business Administration, Article