- Sosyoekonomi
- Vol: 31 Issue: 56
- The Effects of Oil Price Shocks on Clean Energy and Oil and Gas Stock Returns
The Effects of Oil Price Shocks on Clean Energy and Oil and Gas Stock Returns
Authors : Ayşegül Uçkun Özkan
Pages : 217-240
Doi:10.17233/sosyoekonomi.2023.02.11
View : 9 | Download : 3
Publication Date : 2023-04-28
Article Type : Research Article
Abstract :This study empirically examines how fluctuations in oil prices affect the stock returns of clean energy and oil and gas companies between 2001:01 and 2022:06. Our results show that a negative oil supply shock affects the stock returns of clean energy companies positively. In contrast, an oil-specific demand shock negatively affects them. The findings also reveal that an increase in oil prices owing to an oil-specific demand shock tends not to improve the stock returns of oil and gas companies. Consequently, the results indicate that oil and clean energy are not alternatives.Keywords : Petrol Fiyat Şokları, İkame Etkisi, Temiz Enerji Hisse Senedi Getirileri, Petrol ve Gaz Hisse Senedi Getirileri, Yapısal VAR