Do economic and societal factors influence the financial performance of alternative energy firms?

Kartick Gupta

Energy Economics, 2017, vol. 65, issue C, 172-182

Abstract: Prior studies find that the technology sector and oil prices strongly influence the financial performance of alternative energy firms. The results, however, are country-specific and the role of country-level determinants is yet to be investigated. We argue that economic and societal factors are important in explaining cross-country differences in the financial performance of alternative energy firms. We analyse the financial performance of alternative energy firms using firm-level data from 26 countries. We find that the market rewards alternative energy firms when country-level technology and innovation are well developed. Additionally, we find that national cultural dimensions explain cross-country differences in the financial performance of alternative energy firms.

Keywords: Alternative energy stock returns; Institutional quality; Cultural dimensions (search for similar items in EconPapers)
JEL-codes: E44 G12 Q42 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (30)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:65:y:2017:i:c:p:172-182

DOI: 10.1016/j.eneco.2017.05.004

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