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The EU ETS and firm profits: an ex-post analysis for Swedish energy firms
Örebro University, Örebro University School of Business.
2013 (English)In: Environmental Economics, ISSN 1998-605x, Vol. 4, no 3, p. 59-71Article in journal (Refereed) Published
Abstract [en]

In January 2005, the EU launched the first international emissions trading system (EU ETS), aimed at reducing carbon emissions in a cost-effective way by means of a market-based instrument. This paper uses the treatment/control, before/after design of the natural experiment approach to investigate the treatment effect of the EU ETS on the profitability of a sample of Swedish energy firms in 2005 and 2006. The author investigates whether over-allocated and under-allocated firms respond differently to the EU ETS. The estimation results in general suggest no significant impact in 2005 and a negative significant impact in 2006. The sub-sample analysis suggests that profitability of over-allocated and under-allocated firms were affected differently by the EU ETS in 2005, but not in 2006.

Place, publisher, year, edition, pages
2013. Vol. 4, no 3, p. 59-71
Keywords [en]
EU ETS, difference-in-differences, fixed effect
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:oru:diva-32446OAI: oai:DiVA.org:oru-32446DiVA, id: diva2:665066
Note

Licentiatuppsats vid Örebro universitet.

Available from: 2013-11-18 Created: 2013-11-18 Last updated: 2017-10-17Bibliographically approved

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http://businessperspectives.org/journals_free/ee/2013/ee_2013_03_Yu.pdf

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Yu, Haishan

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