期刊
ENERGY ECONOMICS
卷 110, 期 -, 页码 -出版社
ELSEVIER
DOI: 10.1016/j.eneco.2022.106033
关键词
Tobin?s q; Green patents; Firm investments; Climate change; Shareholder proposals
类别
Using a dynamic stochastic model, we examine the impact of green efforts, capital stocks, and investments on a firm's Green Tobin's q. Our empirical results show a negative effect of green technologies on Tobin's q, while green stockholder pressure has a positive effect. In addition, we contribute to the current debate on pressing issues in energy transition by providing empirical evidence.
We derive from a dynamic stochastic model a Green Tobin's q as a function of a firm's green efforts (technology and pressure), as well as traditional capital stocks and investments. The evidence focuses on the oil industry which is inextricably bound to the debate on climate change. Our regression results indicate a negative impact on Tobin's q from green technologies, and a positive impact on Tobin's q from green stockholder pressure. In addition to adding a theoretical model, we provide empirical evidence regarding pressing issues in the energy transition.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据