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How do investors perceive clean energy projects? A comparative event study analysis on the market reaction to energy projects announcements
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Orientador(es)
Resumo(s)
Nowadays, investors increasingly claim prioritisation of sustainability issues in their investment
decisions. This paper examines if investors translate these claims into actions by conducting a
comparative event study analysis of returns to green and brown energy project announcements.
The findings reveal that investors prioritise and value the sustainability aspect of their equity
investments in the energy sector. Indeed, green project announcements are associated with
significantly higher returns compared to brown. These results contribute to informing companies
in the energy sector on designing their future strategies.
Descrição
Palavras-chave
Event studies Renewable energy Market reaction Energy industry Market valuation Investor sentiment