The impact of international carbon-related factors on China's new energy market: Based on different market conditions

被引：6
|
作者：
Li, Jianfeng [1 ]
Yao, Xiaoyang [1 ]
Sun, Guanglin [2 ,3 ]
Li, Jinning [4 ]
Le, Wei [1 ]
机构：
[1] China Jiliang Univ, Coll Econ & Management, Hangzhou 310018, Peoples R China
[2] Collaborat Innovat Ctr Emiss Trading Syst Coconstr, Wuhan 430205, Peoples R China
[3] Nanjing Univ Finance & Econ, Sch Finance, Nanjing 210023, Peoples R China
[4] Zhejiang Normal Univ, Xingzhi Coll, Jinhua 321001, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2023年 / 58卷
关键词：
China 's new energy market; Climate change; Carbon price; Quantile regression; RISK;
D O I：
10.1016/j.frl.2023.104496
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study investigates the impact of the carbon-related factors (Returns and risks regarding to the international carbon market, the energy market, and global climate change) on the prices and risks of China's new energy markets under different market conditions. The empirical results reveal the price and risk of China's new energy markets are more influenced by carbon-related factors under extreme conditions than stable conditions. During the period of extreme market risk increase, the ability of China's new energy markets to withstand external risk shocks has significantly increased. Additionally, the linkages between China's new energy market and carbon-related factors are dynamic.
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页数：8
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