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- Couwenberg, Oscar, et al. Show all 3 Authors
- Energy Policy 2014 v.69 pp. 510-519
- European Union; carbon; compliance; environmental markets; pollution; prices; production costs; trade
- ... The aim of this paper is to examine whether shareholders consider the EU Emissions Trading Scheme (EU ETS) as value-relevant for the participating firms. An analysis is conducted of the share prices changes as caused by the first publication of compliance data in April, 2006, which disclosed an over-allocation of emission allowances. Through an event study, it is shown that share prices actually i ...