How Long to Read Carbon Policy Surprises and Stock Returns: Signals from Financial Markets

How Long Does it Take to Read Carbon Policy Surprises and Stock Returns: Signals from Financial Markets?

It takes the average reader and 34 minutes to read Carbon Policy Surprises and Stock Returns: Signals from Financial Markets by Martina Hengge

Assuming a reading speed of 250 words per minute. Learn more

Description

Understanding the impact of climate mitigation policies is key to designing effective carbon pricing tools. We use institutional features of the EU Emissions Trading System (ETS) and high-frequency data on more than 2,000 publicly listed European firms over 2011-21 to study the impact of carbon policies on stock returns. After extracting the surprise component of regulatory actions, we show that events resulting in higher carbon prices lead to negative abnormal returns which increase with a firm's carbon intensity. This negative relationship is even stronger for firms in sectors which do not participate in the EU ETS suggesting that investors price in transition risk stemming from the shift towards a low-carbon economy. We conclude that policies which increase carbon prices are effective in raising the cost of capital for emission-intensive firms.

How long is Carbon Policy Surprises and Stock Returns: Signals from Financial Markets?

Carbon Policy Surprises and Stock Returns: Signals from Financial Markets by Martina Hengge is 34 pages long, and a total of 8,636 words.

This makes it 11% the length of the average book. It also has 11% more words than the average book.

How Long Does it Take to Read Carbon Policy Surprises and Stock Returns: Signals from Financial Markets Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 47 minutes to read Carbon Policy Surprises and Stock Returns: Signals from Financial Markets aloud.

What Reading Level is Carbon Policy Surprises and Stock Returns: Signals from Financial Markets?

Carbon Policy Surprises and Stock Returns: Signals from Financial Markets is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Carbon Policy Surprises and Stock Returns: Signals from Financial Markets?

Carbon Policy Surprises and Stock Returns: Signals from Financial Markets by Martina Hengge is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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