The Chicago Climate Exchange and Market Efficiency : An Empirical Analysis

This study provides the first empirical investigation of informational efficiency for the Chicago Climate Exchange. Using daily settlement price and trading volume data for the Carbon Financial Instruments, we conduct a battery of econometric tests in assessing weak-form market efficiency for the Chicago Climate Exchange during its Phases I and II. Results of the empirical tests collectively suggest an absence of weak-form informational efficiency during Phase I, yet signs of improvement in informational efficiency during Phase II. Our results highlight the dual roles of trading activity and government regulation in promoting informationally efficient and well-functioning carbon markets in the United States

MoreLess

Year of publication:	2019
Authors:	Sabbaghi, Omid
Other Persons:	Sabbaghi, Navid (contributor)
Publisher:	[2019]: [S.l.] : SSRN
Subject:	Effizienzmarkthypothese \| Efficient market hypothesis \| Emissionshandel \| Emissions trading
Description of contents:	Abstract [papers.ssrn.com]

Check Google Scholar |

More access options

In German libraries (KVK)

I need help

Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Environ Econ Policy Stud (2017) 19: 711. Doi.org/10.1007/s10018-016-0171-4 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2017 erstellt Volltext nicht verfügbar
Classification:	G14 - Information and Market Efficiency; Event Studies ; G10 - General Financial Markets. General ; c58 ; Q56 - Environment and Development; Environment and Trade; Sustainability; Environmental Accounting
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012902771