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The effects of environmental taxation on stock returns of renewable energy producers: Evidence from Turkey

descriptionPublicationkeyboard_double_arrow_right Article 01 May 2023 Turkey Publisher:Elsevier BVJournal:Renewable Energy, volume 208, pages 311-323 (issn: 0960-1481,

Authors: Katırcıoğlu, Setareh; Katırcıoğlu, Salih;

doi: 10.1016/j.renene.2023.03.089

handle: 11467/6891 , 11467/6624

The effects of environmental taxation on stock returns of renewable energy producers: Evidence from Turkey

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Abstract

The current study investigates if environmental taxation in Turkey significantly impacts stock returns of renewable energy producers. Renewable energy-related firms trading Istanbul Stock Exchange and the overall energy stock index are selected and analyzed using time series methods. Results generally confirm the long-term effects of taxation on renewable energy stock prices. This study demonstrates that variations in national envi ronmental regulations and energy taxation result in significant variations in energy stock performance. It is also found that foreign direct investments in Turkey negatively impact energy stock markets. Implications are pro vided at the end of this study.

Country

Turkey

Related Organizations

Keywords

Environmental regulation, Energy tax, Energy stock price, Cointegration, Turkey, Cointegration; Energy stock price; Energy tax; Environmental regulation; Turkey

Impact byBIP!

	citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	4
	popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.	Top 10%
	influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	Average
	impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.	Average