To reward or not to reward? Investors’ response to renewable energy investment by international oil companies
We analyse how investors respond to announcements of investment in renewable energy by international oil companies. Although the transition from oil to renewable energy is generally viewed as a positive outcome for all oil companies, our results show that market participants do not value all moves i...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2023-07-01
|
| Series: | Borsa Istanbul Review |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2214845023000388 |
| _version_ | 1797774831258697728 |
|---|---|
| author | Nawaf Almaskati |
| author_facet | Nawaf Almaskati |
| author_sort | Nawaf Almaskati |
| collection | DOAJ |
| description | We analyse how investors respond to announcements of investment in renewable energy by international oil companies. Although the transition from oil to renewable energy is generally viewed as a positive outcome for all oil companies, our results show that market participants do not value all moves in that direction equally. More specifically, we find that investors responded positively to all announcements made by three of the seven companies studied, but showed little to no response to the announcements made by the other four companies. We attribute these findings to country-specific factors which influence investors’ expectations and responses to such announcements. |
| first_indexed | 2024-03-12T22:26:56Z |
| format | Article |
| id | doaj.art-a25545f5a20545838c0a1eb123011c1b |
| institution | Directory Open Access Journal |
| issn | 2214-8450 |
| language | English |
| last_indexed | 2024-03-12T22:26:56Z |
| publishDate | 2023-07-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Borsa Istanbul Review |
| spelling | doaj.art-a25545f5a20545838c0a1eb123011c1b2023-07-22T04:52:06ZengElsevierBorsa Istanbul Review2214-84502023-07-01234845851To reward or not to reward? Investors’ response to renewable energy investment by international oil companiesNawaf Almaskati0University of Waikato, New ZealandWe analyse how investors respond to announcements of investment in renewable energy by international oil companies. Although the transition from oil to renewable energy is generally viewed as a positive outcome for all oil companies, our results show that market participants do not value all moves in that direction equally. More specifically, we find that investors responded positively to all announcements made by three of the seven companies studied, but showed little to no response to the announcements made by the other four companies. We attribute these findings to country-specific factors which influence investors’ expectations and responses to such announcements.http://www.sciencedirect.com/science/article/pii/S2214845023000388G14L21Q50 |
| spellingShingle | Nawaf Almaskati To reward or not to reward? Investors’ response to renewable energy investment by international oil companies Borsa Istanbul Review G14 L21 Q50 |
| title | To reward or not to reward? Investors’ response to renewable energy investment by international oil companies |
| title_full | To reward or not to reward? Investors’ response to renewable energy investment by international oil companies |
| title_fullStr | To reward or not to reward? Investors’ response to renewable energy investment by international oil companies |
| title_full_unstemmed | To reward or not to reward? Investors’ response to renewable energy investment by international oil companies |
| title_short | To reward or not to reward? Investors’ response to renewable energy investment by international oil companies |
| title_sort | to reward or not to reward investors response to renewable energy investment by international oil companies |
| topic | G14 L21 Q50 |
| url | http://www.sciencedirect.com/science/article/pii/S2214845023000388 |
| work_keys_str_mv | AT nawafalmaskati torewardornottorewardinvestorsresponsetorenewableenergyinvestmentbyinternationaloilcompanies |