Information efficiency research of China's carbon markets

被引：24
|
作者：
Liu, Jian [1 ]
Jiang, Ting [1 ]
Ye, Ze [1 ]
机构：
[1] Changsha Univ Sci & Technol, Sch Econ & Management, Changsha 410114, Hunan, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2021年 / 38卷
基金：
中国国家自然科学基金;
关键词：
Carbon market; Fuzzy entropy; Information efficiency; Entropic correlation;
D O I：
10.1016/j.frl.2020.101444
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper studies the information efficiency of China's carbon markets using the fuzzy entropy method. The overall and time-varying results show that Hubei market has the highest information efficiency, followed by Guangdong, Beijing, Shanghai, Shenzhen, Chongqing and Tianjin market in turn. Moreover, the information efficiency of EU carbon market is higher than that of China's carbon markets. Further, the information efficiency of Chongqing and Hubei, Shenzhen and Tianjin, Beijing and Hubei, Beijing and Shanghai, Hubei and Shenzhen carbon markets is highly correlated.
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页数：8
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