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dc.contributor.authorKrokida, Styliani Iris A.-
dc.contributor.authorLambertides, Neophytos-
dc.contributor.authorSavva, Christos S.-
dc.contributor.authorTsouknidis, Dimitris-
dc.date.accessioned2020-03-12T08:52:09Z-
dc.date.available2020-03-12T08:52:09Z-
dc.date.issued2020-01-02-
dc.identifier.citationThe European Journal of Finance, 2020, vol. 26, no. 1, pp. 1-13en_US
dc.identifier.issn14664364-
dc.description.abstractThis paper examines whether oil price shocks of different origin affect the price of carbon emission allowance traded under the European Union's Emissions Trading System; leading to changes in aggregate and sector-specific European equity returns. The results show that an unexpected oil-supply disruption has an imminent but weak positive effect on carbon emission price, while a positive aggregate demand shock has a strong positive effect on carbon emission price. By contrast, a positive oil-specific (precautionary) demand shock has a negative but weak effect on carbon emission price. These findings are economically important as positive shocks on the CO2 emission allowance price trigger a decrease on the aggregate stock return of the European equity market, albeit they trigger a large and persistent increase on European equity returns of oil-related industries with the exception of the Energy sector.en_US
dc.formatpdfen_US
dc.language.isoenen_US
dc.relation.ispartofThe European Journal of Financeen_US
dc.rights© Taylor & Francisen_US
dc.subjectEmissions trading systemen_US
dc.subjectEuropean stock returnsen_US
dc.subjectOil price shocksen_US
dc.subjectStructural VARen_US
dc.titleThe effects of oil price shocks on the prices of EU emission trading system and European stock returnsen_US
dc.typeArticleen_US
dc.collaborationAthens University of Economics and Businessen_US
dc.collaborationCyprus University of Technologyen_US
dc.subject.categoryEconomics and Businessen_US
dc.journalsSubscriptionen_US
dc.countryCyprusen_US
dc.countryGreeceen_US
dc.subject.fieldSocial Sciencesen_US
dc.publicationPeer Revieweden_US
dc.identifier.doi10.1080/1351847X.2019.1637358en_US
dc.relation.issue1en_US
dc.relation.volume26en_US
cut.common.academicyear2019-2020en_US
dc.identifier.spage1en_US
dc.identifier.epage13en_US
item.fulltextNo Fulltext-
item.languageiso639-1en-
item.grantfulltextnone-
item.openairecristypehttp://purl.org/coar/resource_type/c_6501-
item.cerifentitytypePublications-
item.openairetypearticle-
crisitem.journal.journalissn1466-4364-
crisitem.journal.publisherTaylor & Francis-
crisitem.author.deptDepartment of Finance, Accounting and Management Science-
crisitem.author.deptDepartment of Finance, Accounting and Management Science-
crisitem.author.deptDepartment of Finance, Accounting and Management Science-
crisitem.author.facultyFaculty of Tourism Management, Hospitality and Entrepreneurship-
crisitem.author.facultyFaculty of Tourism Management, Hospitality and Entrepreneurship-
crisitem.author.facultyFaculty of Management and Economics-
crisitem.author.orcid0000-0003-2864-1793-
crisitem.author.orcid0000-0001-6562-4816-
crisitem.author.orcid0000-0003-1866-2590-
crisitem.author.parentorgFaculty of Management and Economics-
crisitem.author.parentorgFaculty of Management and Economics-
crisitem.author.parentorgFaculty of Management and Economics-
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