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| DOI | 10.1016/j.enpol.2021.112190 |
| Chasing the ‘green bandwagon’ in times of uncertainty | |
| Dragomirescu-Gaina C.; Galariotis E.; Philippas D. | |
| 发表日期 | 2021 |
| ISSN | 03014215 |
| 卷号 | 151 |
| 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. © 2021 Elsevier Ltd |
| 关键词 | Crude oilDynamic herdingGreen energyPricing dynamics |
| 英文关键词 | Investments; Asset allocation; Energy equity; Energy markets; Energy transitions; Financial risks; Information set; Low carbon economy; Multidimensional nature; Economics; alternative energy; crude oil; energy market; energy policy; investment; price dynamics; United States |
| 语种 | 英语 |
| 来源期刊 | Energy Policy
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/205076 |
| 作者单位 | Universita Cattolica Del Sacro Cuore, Largo A. Gemelli 1, Milan, 20123, Italy; Audencia Business School, 8 Route de la Jonelière, 31222, Nantes, 44300, France; ESSCA School of Management, 55 Quai Alphonse Le Gallo, Boulogne-Billancourt, Paris 92513, France |
| 推荐引用方式 GB/T 7714 | Dragomirescu-Gaina C.,Galariotis E.,Philippas D.. Chasing the ‘green bandwagon’ in times of uncertainty[J],2021,151. |
| APA | Dragomirescu-Gaina C.,Galariotis E.,&Philippas D..(2021).Chasing the ‘green bandwagon’ in times of uncertainty.Energy Policy,151. |
| MLA | Dragomirescu-Gaina C.,et al."Chasing the ‘green bandwagon’ in times of uncertainty".Energy Policy 151(2021). |
| 条目包含的文件 | 条目无相关文件。 | |||||
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