This paper analyzes the effect of environmental regulation on stock returns (as a measure of economic performance) for German energy corporations. By using event study methodology, we consider the last minute victory of the acting government in the 2002 German federal elections to the Lower...

In this paper we estimate the skewness of the marginal distribution of energy returns and test its statistical significance. We use traditional tests of symmetry but we also estimate a TGARCH model assuming a Gram-Charlier distribution for the innovations. Our results show that crude oil (Brent...

This study uses Event Study Analysis (ESA) to examine whether uncertainty over getting Alberta oil to market has affected the market valuation of Canadian energy firms. In recent years there have been a number of discrete news events pertaining to regulatory decisions that impact whether bitumen...

Energy policy uncertainty - as measured by uncertainty about a U.S. President signing an energy related executive order in the future - covaries positively with corporate investment and aggregate consumption growth, and its innovations carry a negative price of risk. I propose and test a...