Ye, Dezhu; Liu, Shasha; Kong, Dongmin - In: Energy Economics 40 (2013) C, pp. 360-369
This paper studies the impact of energy-saving efforts on firm value, using the carbon emission rights trading scheme … (CERTS) of China as an exogenous shock. The results showed that the CERTS increases the market value of energy-related firms …; moreover, the energy-saving efforts of firms further influence their market value and investor reaction. Energy-related firms …