Modeling renewable energy company risk

Energy Policy

Volumn 40, Issue 1, 2012, Pages 39-48

  Sadorsky, Perry ^a  

^a YORK UNIVERSITY   (Canada)

Author keywords

CAPM; Oil prices; Renewable energy

Indexed keywords

COSTS; ENERGY POLICY; SALES;

CAPM; COMPANY SALES; ENERGY INDUSTRY; OIL PRICES; RENEWABLE ENERGIES; RENEWABLE ENERGY SECTOR; RISK FACTORS; SYSTEMATIC RISK;

RENEWABLE ENERGY RESOURCES;

COMMODITY PRICE; ECONOMIC IMPACT; EMPIRICAL ANALYSIS; ENERGY RESOURCE; INVESTMENT; MODELING; OIL SUPPLY; RENEWABLE RESOURCE; RISK FACTOR; RISK PERCEPTION; TRADE-OFF;

EID: 84855749432     PISSN: 03014215     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.enpol.2010.06.064     Document Type: Article

References (28)

1. Abell, J., Krueger, T., 1989. Macroeconomic influences on beta. Journal of Economics and Business 41, 185-193.
2. Beck, N., Katz, J., 1995. What to do (and not do) with time-series cross-section data. The American Political Science Review 89, 634-647.
3. Bradburd, R.M., Ross, D.R., 1989. Can small firms find and defend niches? A test of the Porter hypothesis. The Review of Economics and Statistics 71, 258-262.
4. Brealey, R., Myers, S., 2000. Principles of Corporate Finance 6th edition Irwin McGraw-Hill.
5. Burer, M.J., Wustenhagen, R., 2009. Which renewable energy policy is a venture capitalist's best friend? Empirical evidence from a survey of international cleantech investors. Energy Policy 37, 4997-5006.
6. Caves, R., Barton, D., 1990. Efficiency in US Manufacturing Industries. MIT Press, Cambridge.
7. Chan, L.K., Lakonishok, J., Sougiannis, T., 2001. The stock market valuation of research and development expenditures. Journal of Finance 56, 2431-2456.
8. Chen, N.-F., 1991. Financial investment opportunities and the macroeconomy. Journal of Finance 46, 529-554.
9. Chen, N.-F., Roll, R., Ross, S.A., 1986. Economic forces and the stock market. Journal of Business 59, 383-403.
10. Daniel, J.A. 2001. Hedging government oil price risk, IMF Working Paper, WP/01/ 185.
11. Graham, J.R., Harvey, C.R., 2001. The theory and practice of corporate finance: evidence from the field. Journal of Financial Economics 60, 187-243.
12. Greene, W.H., 2007. Econometric Analysis 6th Edition. Pearson International, New York.
13. Gross, R. Blyth, W., Heptonstall, P., 2010. Risks, revenues and investment in electricity generation: why policy needs to look beyond costs. Energy Economics 32, 796-804.
14. Henriques, I., Sadorsky, P., 2008. Oil prices and the stock prices of alternative energy companies. Energy Economics 30, 998-1010.
15. Henriques, I., Sadorsky, P.. Can environmental sustainability be used to manage energy price risk? Energy Economics, in press, doi:10.1016/j.eneco.2010.01.006.
16. International Energy Agency, 2007. World Energy Outlook, IEA, Paris.
17. Jorion, P., 1990. The exchange-rate exposure of U.S. multinationals. Journal of Business 63, 331-345.
18. New Energy Finance, 2009. Global Trends in Sustainable Energy Investment 2009, United Nations Environment Program and New Energy Finance.
19. Pernick., R., Wilder, C., 2007. The Cleantech Revolution. HarperCollins, New York.
20. Rosenberg, B., McKibben, W., March, W., 1973. The prediction of systematic and specific risk in common stocks. Journal of Financial and Quantitative Analysis 8, 317-333.
21. Rosenberg, B., Marathe, V., 1975. The predictions of investment risk: systematic and residual risk, In: Reprint 21, Proceedings of the Seminar on Analysis of Security Prices, University of Chicago. Institute of Business and Economics Research, University of California, Berkeley.
22. Rosenberg, B., Guy, J., 1976. Prediction of beta from investment fundamentals. Financial Analysts Journal, 32, parts I and II 60-72, 62-70.
23. Sadorsky, P., 2001. Risk factors in stock returns of Canadian oil and gas companies. Energy Economics 23, 17-28.
24. Sadorsky, P., 2008. Assessing the impact of oil prices on firms of different sizes: its tough being in the middle. Energy Policy 36 (10), 3854-3861.
25. Sharpe, W.F., 1964. Capital asset prices: a theory of market equilibrium under conditions of risk. Journal of Finance 19, 425-442.
26. Shiller, R.J., 2003. The New Financial Order. Princeton University Press, Princeton, NJ.
27. The Economist, 2007. Cleaning up: a survey, June 2-June 8, 28.
28. Thompson, D., 1978. Sources of systematic risk in common stocks. Journal of Business 40, 173-188.