Many firms across the world are discovering and benefiting from the ability to identify, recover and reuse industrial by-products from other firms in traditionally unrelated industries. We examine how the formation of a by-product synergy between two firms, in different industries, and its...

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...

This study aims to provide one of the first empirical investigations of market efficiency for developed markets during the recent global financial crisis. Using the Morgan Stanley Capital International (MSCI) country indices as proxies for national stock markets, the study conducts a battery of...

This study aims to investigate the cross-sectional and time-series dynamics of realized Certified Emission Reduction (CER) credits issued and the role of investments for a seminal sample of China's Clean Development Mechanism (CDM) projects specializing in the wind sector. The study investigates...

Purpose: This study aims to investigate the cross-sectional and time-series dynamics of realized Certified Emission Reduction (CER) credits issued and the role of investments for a seminal sample of China’s Clean Development Mechanism (CDM) projects specializing in the wind sector....