 Do oil price changes really matter for clean energy returns?Jiang-Bo Geng, Changyu Liu, Qiang Ji and Dayong Zhang Renewable and Sustainable Energy Reviews, 2021, vol. 150, issue C Abstract: This study analyses the dynamic impacts of oil price changes on clean energy companies' stock returns by applying a connectedness network approach based on evidence from the European perspective. The results suggest that although changes in crude oil prices and clean energy stocks returns move towards the same direction, oil returns mainly act as a net information receiver in the crude oil-clean energy nexus system. The dynamic results suggest that information interdependence for crude oil returns and clean energy companies' returns remains at a relatively high level regardless of time variation. Moreover, there is obvious asymmetry in information connectedness for oil and clean energy companies’ returns, which shows the apparent leverage effect and suggests that the impact of bad news on information connectedness is greater than that of good news. These findings can provide micro insights for new energy policy makers and market participants in clean energy industries. Keywords: Connectedness network; Asymmetric analysis; Oil prices; Clean energy companies (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:rensus:v:150:y:2021:i:c:s1364032121007127 Ordering information: This journal article can be ordered from DOI: 10.1016/j.rser.2021.111429 Access Statistics for this article Renewable and Sustainable Energy Reviews is currently edited by L. Kazmerski More articles in Renewable and Sustainable Energy Reviews from Elsevier |
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